Think Before you Rent Out
Changing times call for a change in the ways in which living spaces are rented out by people. While making background checks on potential tenants is a must, there are other legal responsibilities which come as a duty call for prospective house owners. There are few social responsibilities to be taken initiative by the house owners before renting out their houses; a brief background check on the potential tenant, have clear views about family and professional background, build up a semi-formal rapport with the tenant in the very first meet, to prevent harboring any kind of anti-social elements the owner should ask for government Identification Cards, understand tenant’s cultural roots, in concern with owners comfort level one should discuss about partying late night with music on weekends, cooking specifications should also be specified and least but not the last mention clearly about the maintenance of the house.
Once the social specifications are cleared the next most important step is to fulfill the legal formalities like; legal documents encloses specific amount to be paid as an advance and make sure to specify about the re-payment of the advance money also social responsibilities section has to be briefly however precisely mentioned, renting amount is a must to be discussed and also the percentage of increase in the rent in future, also remember that renting out a house involves the house owners into a whole new tax payer’s bracket, specify the rent payment date in the documents to avoid future arguments and misunderstandings, criteria about the ways of handling the property should be mentioned and also very important thing is to deed an house renting agreement in consultation with an efficient advocate is a must. Following these basic responsibilities would make way to a blissful and cherished relationship with the tenant and also avoids unwanted misunderstandings. Laws are stringent when it comes to tenants and landlords.
Anti social elements, Deed, Government ID cards, House owners, House renting agreement, Identification Cards, Legal Document, Legal formalities, Legal responsibilities, Living spaces, Maintenance, Pre-payment charges, property tax, Tax payers, Tenant
