Essential Precautions Before Renting Out Your Apartment
Renting out a property without proper preparation can bring unexpected challenges. To ensure a hassle-free experience, make sure to follow these essential precautions before leasing your apartment.
BACKGROUND CHECK
Perform a proper background check on your tenant before renting an apartment. Police verification is essential before signing the agreement to ensure your tenant is not involved in any crimes.
PROPERTY OWNERSHIP DOCUMENTS
Have the necessary ownership documents before you rent your apartment. You can check & get property documents online. Simply visit the website for land details in your state.
RENT, TENANCY OR LEASE AGREEMENT
You need to draft a proper rent agreement before you rent your house. A rent agreement is a contract signed by a landlord & a tenant to begin & manage a tenancy.
TENANT DAMAGES CLAUSE
Include a penalty damage clause in your lease agreement. The clause should state that the tenant shall not allow damage to be committed to any portion of the property, building, or common areas.
TERMINATION OF AGREEMENT
A rent agreement is usually made for 11 months, followed by a 2-month notice period for either party to terminate the contract. The termination clause must mention the notice period.
TENANT OVERSTAY CHARGES
You must also include extra charges in the rental agreement that can be claimed if the tenant doesn't vacate the house on time.