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Five things that landlords and tenants need to know

Many home seekers often find that buying properties is not  affordable.  Although renting a house is a good enough solution, the issues accompanying it make it a complex and rather difficult undertaking. Both landlords and the tenants have their own concerns when it comes to renting a property. For a tenant, finding a house suitable for him with affordable rent is a major challenge. Similarly for the landlord to find a good tenant who respects the property and won’t create any problems is a big priority. With an aim to provide some clarity on the landlord-tenant relationship, the Supreme Court of India, drafted a model landlord-tenant agreement that sheds light of many probable dispute points in a landlord-tenant relationship. 1)  As per the model landlord-tenant agreement, tenants can stay for five years in the premises if they give rent at market rate, increase it by 10% every three years and pay the property tax for the house. 2)  The tenant must enhance the rent according to the terms of the agreement or at least by 10% after every three years. If the rent is too low in comparison to the market rent having been fixed almost 20 to 25 years back, then the present market rate should be worked out. 3)  Apart from the rentals, property tax, water tax, maintenance charges, electricity charges for the actual consumption of the tenanted premises and for common area shall be payable by the tenant only so that the landlord gets the actual rent out of which nothing should be deductible 4)  In case there is enhancement in property tax, water tax or maintenance charges, and electricity charges then the same shall also be borne by the tenant only. 5) Minor repairs of the premises would be carried out by the tenant from his own pocket. All major repairs requiring reimbursement can only be undertake with prior permission from the landlord in writing. Lakshmi Datta Arun for IndiaProperty.com

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