Document Checklist for Tenants

What Documents need to be Checked before Moving in on Rent?

When you plan to move into a new rented house, there are many legalities you might not be aware of. If you are ignorant of the procedures and rules, you might end up seeing yourself in financial trouble or any other problems in the future. When signing an agreement with your landlord, you need to read all the terms and conditions specified and make clear any of the points you do not understand. There are many things you need to check in your documents to make sure you aren’t being fooled or overcharged. Here we provide you a checklist of the documents you need to ask for from the landlord before making a deal.

Document checklist for tenant

Ownership

The first and foremost thing you need to check is who the real owner of the property is. Check for the complete name of the property owner mentioned in the document. If you see a contradictory name to your landlord’s, you need to find out the reason for the difference. If the property has been transferred from the names mentioned to the current landlord, the full name of the current landlord needs to be mentioned in the document. This is important because there are many illegal rent-outs in the country where the actual property owners are unaware of the deal being made.

Agreement

A rental agreement is a contract between a landlord and tenant stating that the landlord is giving the tenant the right to occupy the residence. This document states the details of this deal like the names of both the parties, the date of occupancy, property type, the duration of tenant’s stay, property rent per month, the date of rent payment, deposit amount, etc. Apart from all this, it is important that the document states when the deposit will be returned and who the bearer of the electricity bills, telephone bills, taxes and maintenance charges will be.

Property papers

You might have signed an agreement for staying on rent in a particular house for an year, only to find out that the property is illegally built. If an action is taken against the property during your stay, you will have to go through lots of hassles. In order to avoid inconvenience later, you need to ask the landlord for the property papers which state that the property is legal and approved. Only then should you sign the deal.

Document checklist for tenant

Security

You need to be sure that once you start residing in a property, you don’t want to face any issues until you complete your term of stay. There may be a possibility that during your stay, the property gets sold or mortgaged. To avoid problems rising in such a case, you need to have security and safety papers made in your favour before hand.

Attorney authorization

If you cannot get in touch with the landlord himself and have to deal with his attorney, then you need to make sure that he is legally appointed by the landlord to be present on his behalf. You need to check the authorization or power of attorney documents to confirm the same.

If you want to invest in real estate and let out the property on rent to get better incomes every month, you can invest in properties in the IT hub of the country to get better deals. Mahidhara Projects provide luxurious villas in South Bangalore with amenities that your tenants will love. Check for its beautiful villas in Electronic City Bangalore too.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s