Tips

If you want to buy/sell/rent/lease your property then it is a little tedious task. The person has to find the right property in the right location, within the right budget. We present you some useful tips below, to make the task easier.

Locality :

The area in which you want the property has to be decided first. This depends upon several factors like surrounding area, locality and of course the budget. Find out whether the area has good infrastructure and other facilities provided, before you choose. Once you choose the area, you need to locate the property.

Check out the Property :

Check out the property and see, if there is proper water and electric supplies or not. Communicate with the neighbours to know more about the building and the neighbourhood. A good broker will give most of the information you need. Get into the office and find out whether everything works or not. Check out the safety arrangements. If there is any repair to be done, ask the landlord to take care of them, before you move in.

Rental Rates :

Try to get information about the rental rates in the area. In all probability, you have to pay security deposit or rental advance. Now there is a system like a tenant will give some amount as a security deposit to the landlord, which will be refundable after sometime.

Legal Issues :

Your landlord will take care of the formalities & permission. Always go for a legal agreement. Stamp duty and registering costs are borne by the landlord. In some cases, both share the costs. In case the property owner is out of town, make sure that the broker or the concerned person has the legal authority to rent out the property. They should have a Power of Attorney (POA) given by the property owner. Pay attention to the fine print before signing the agreement.

Before Moving In :

Ensure that everything of the property is in proper condition before you move in. Check out if electricity, water and society dues have been settled. Keep property owner’s workplace addresses and phone numbers with you. You may need them in the time of emergency.

Finally, when you pay the rent, get proper rental receipts from the landlord. Also save the electricity and phone bill payment receipts, if any.