Four Essentials to know before you sign a Rent Agreement
In the article we’ll be discussing a important topic that’s “4 Essentials to know before you sign a Rent Agreement” let’s talk about it in detail:
Now that you have finalized a home on rent, there are certain essential checks which certainly you might be aware of as a tenant. However, it is equally essential to check the rental agreement for some of the most important points before you sign it in order to avoid that any disputes once you start living on rent in the desired house.
It may all start form petty issues like repairs and bills and go on to unexpected rental hike. So, settling it all in the rental agreement needs to be your primary concern when you are about to sign the agreement.
Following are a few aspects as well as clauses you must not ignore and should actually be added at the time of agreement.
Read the Agreement Carefully
It may actually sound too basic and evident, however the truth is that majority of the tenants either do not read the complete agreement carefully or are actually unable to understand the legal language used in the agreement. There may be times when you are simply staring at the agreement to decipher the meaning of your legal rental agreement. It is certainly not wise to actually interpret that the things promised are mentioned in the agreement by the landlord and you can further trustfully sign on the dotted line. If you are not able to interpret what exactly the clauses mean, it is recommended that you consult a lawyer instead.
Check the Landlord Details
The details of the landlord does not only mean checking the background of the landlord. Rather it is essential to check the details on the papers when you are about to sign the agreement. You need to make sure that the person you have been talking to as the landlord signs on the agreement as a landlord with you. There have been instances when the landlord has handed over the property to a relative or a caretaker and they further lease it to third party without the knowledge of the actual owner of the property. So, verify each detail of the landlord including the title documents.
Overhead Charges
All new projects by reputed builders are facilitated with power backup, water tank and other utility services. However, tenants shouldn’t just be told verbally about overhead charges. These charges should be transparently mentioned in the agreement. Tenants must check these before signing the agreement.
Damage and Repair Costs
Specify the damage or repair costs in the rent agreement before you move in. This is of utmost significance as this may cost you a fortune if some serious damages are seen when you vacate the property.
It is indeed really vital to read the above said postulates in your rent agreement so as to avoid any discrepancies with your landlord.