What are some things to be careful about in a rental agreement (as a tenant) in Bangalore?

There are few things must be careful about rental agreement.

  1. Rental cycle - Usually rental cycle must be 11 months. Agreement has to renew every 11 months.
  2. Lock-in period - Try to get rid of Lock-in period
  3. Annual rental increment - Usually 5–10% depends on the location and accommodation
  4. Rent payable : Is rent payable in month end or month beginning. Try to pay month end to control your cash flow.
  5. Maintenance and other cost : Is maintenance cost and other cost (water, electricity, tax etc,) includes in rent payable or excludes rent payable to owner.
  6. Security deposit: Usually security deposit in Bangalore is 10 months of rent (Eg: Rent is Rs.10,000 then the security deposit is Rs.1,00,000 ) Try to negotiate and pay in 3 or 4 installment to control your cash flow.
  7. Is repair, damage cost or structural change borne by tenant or owner? Usually tenant has to bear during tenancy period.
  8. Notice period: Usually 1–2 months of notice, Tenant has to inform owner at least 1 or 2 months in advance before vacating house.
  9. Renovation cost: Tenant may paint and clean the house after vacating or appropriate cost (1 Month rent or actual renovation cost) detected from security deposit.
  10. Get your rental agreement in E-stamp paper and notarize it by lawyer. This helps you to validate your rental agreement as address proof. Notarized agreement is applicable for applying gas connection, Bank application, Employee address proof etc.
  11. Prefer transferring your rent and security deposit by wire transfer instead cash. Wire transfer records your transaction and avoid any kind of transnational discrepancy between parties.
  12. Avoid brokers to save brokerage of a month rent. Explore your property options on property websites like 99acers, commonfloor, Makaan, magicbrics etc..

Advice: Never get into rental deal if you find your landlord is rude or doesn't suit your behavior. Find suitable landlord and stay happy….

Our rental agreement service:

We do rental agreement and deliver at your doorstep in just 3 steps.

  1. Email your draft rental agreement in word format to us pgnproperties@gmail.com along with your postal address and mobile number
  2. We will execute agreement + lawyer notarize + delivered at your doorstep.

If you have any other questions pertaining to rental, rental agreement and renovation, Please write to us, we are delighted to answer. We don’t charge for consulting us.

Mobile contact: +91–9742479020 (Also available on Whatsapp) or email us : pgnproperties@gmail.com

Thank you for reading….

How would you rate the answer?

Excellent Good Neutral Poor Bad

Thank you for your response..