No matter if you are looking forward to grabbing a rented agreement or buying one, the one thing that you need to pay heed to is the rent agreement. It’s the paperwork on which the entire information about property, deeds of the transaction and details of both the parties are given. It’s the legal proof that you have executed a real estate transaction with anyone and have paid him ‘X’ amount for the same. Here are a few important things about rent agreement that you need to keep in mind-
It is Signed By Landlord And Tenant: Rent agreement is the sole proof that two parties have mutually agreed to enter into an agreement, in which one allows the other person to live on his property for a minimum of pre-specified time and facilitate him all the basic amenities to start a new life without any hassle, while the other person agrees to pay him a rent on pre-specified time duration. The frequency of rent payment is mostly monthly, but can be changed if both the parties want. The agreement is signed by the landlord and the tenant.
Keeps Details of Everything Including And Excluding In The Rent: The agreement comprises of all the details of the things that one will get in the house. It also has the details of expenses that are included or excluded in the monthly rent. There are a few landlords who don’t charge additional for water while others like to keep electricity and water separate from rent.
You Can See Details of Things That You Will Get With Property: Some landlords may give you additional furniture, accessories and other things with the property. Every tenant in the furnished house gets AC, furniture, TV, washing machine and other necessary things. The details of all these items are mentioned clearly in the agreement.
Don’t Sign Blindly: As soon as you get the agreement from your landlord, don’t just sign it without reading anything. There are a lot of things that require your attention, and if you miss them, you may fall into a huge problem at a later stage. Pay heed to each and every point carefully.
These are some of the points about the rent agreement that you should pay heed to, failure to which can cost you a lot. So, keep hunting for a new house, but don’t forget the tips mentioned above.