Rent Agreement Registration: Now you will have to do this before renting out a house, new rent law comes into effect.

How to rent a house the first time: Before renting a house for the first time, it’s crucial to know these 10 essential things. From the rental agreement to the security deposit and legal regulations, even a small mistake can cause significant damage. So, let’s learn about them.

What to keep in mind when renting out your home: If you’re thinking of renting out your property for the first time, wait! It’s not as easy as it sounds. Even a small mistake can land you in big trouble and land you in court. As a landlord, there are a few important things you should always remember. Let’s understand these 10 most important things in simple terms so you can rent out your home without any tension.

Tips to Avoid Court Cases

Renting out your home can be a good decision, providing you with a steady monthly income. However, choosing the wrong tenant or failing to complete the necessary paperwork can prove costly. This can not only damage your property but also lead to legal complications. Every landlord should remember these 10 important things:

1. Ensure police verification is mandatory

The first and most important step after finding a tenant is to have them police verified. Provide the tenant’s information (name, address, ID proof, etc.) to your nearest police station. This is free and can be done online. This will help you find out about the tenant’s criminal record and help prevent future problems.

2. Always have a registered rental agreement.

If you’re renting out your home for the first time, never do so without a rental agreement. This is a legal document that clearly outlines the rights and responsibilities of both landlord and tenant. It includes details such as the rental period (e.g., 11 months or more), monthly rent, security deposit, and payment date. It also includes details such as who will pay the electricity and water bills, who will handle repairs, and the process for rent increases. If the rental agreement is for more than 11 months, it’s essential to have it registered so that it can serve as legal evidence in case of any future disputes. A registered agreement not only protects both parties but also prevents legal litigation. Therefore, before starting a tenancy, clarify all terms and conditions and ensure a written agreement.

3. Keep complete information about the tenant.

Take photocopies of the tenant’s identification documents, such as their Aadhaar card, PAN card, and driver’s license. Also note their current and previous addresses, phone numbers, and email addresses, and if possible, obtain information about their employment or profession.

4. Be sure to take a security deposit.

A security deposit is a safety net. Ask the tenant for at least 1-2 months’ rent as a security deposit. This money will cover any damage to the home or if the tenant fails to pay their bills. If no damage has been caused, this amount will be returned when the tenant vacates.

5. Record the condition of the home

Before giving the house to a tenant, take photos or videos of the condition of everything in the house. Take photos of the walls, furniture (if any), electrical fixtures, water fixtures, etc. Attach these to the rental agreement; this will make it easier to prove any damage when the tenant vacates.

6. Clearly state the rules for rent increases.

Clearly state in the rental agreement the timeframe and percentage of rent increases. Typically, rent increases are 5-10% per year. This pre-determined procedure prevents future disputes.

7. Set rules for entry and exit

The lease agreement should also specify the conditions under which you or other individuals may enter the home. Respect the tenant’s privacy and avoid entering the home unannounced or without permission. Provide adequate notice for repairs or inspections.

8. Determine responsibility for electricity, water, and other bills

Clearly specify in the rental agreement who will pay the electricity, water, maintenance charges, gas connection, etc. These are usually covered by the tenant, but this should be clear.

9. Use a Tenant Verification App (The Modern Way)

Many cities now offer online tenant verification. There are also apps or websites that help check tenant backgrounds. This can make the process easier.

10. Get emergency contact numbers

Also, be sure to get the emergency contact number of a relative or close friend of the tenant so they can be contacted in case of an emergency.

Be smart by following these tips.

Renting out your home is a big step, and with the right information, you can complete it without any hassle. By keeping these 10 things in mind, you will not only protect your investment but also avoid future legal complications. Remember, carelessness leads to accidents. So, be smart and follow the rules. (Note: This news is based on general information.)

Read More: Aadhaar App: One click will reveal where your Aadhaar has been used; learn about the new Aadhaar app.

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