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What is a rental agreement?

A rental agreement is an agreement between the landlord and the tenant and it documents the different aspects of the contract such as the length of the tenancy, the rent to be paid, the DOs and DONTs, the penalty for non payment of rent, the advance to be paid etc. 

The typical security deposit for a rental property in India, varies from state to state and city to city. In Bangalore, for example, the typical security deposit is usually 10 times the monthly rental. In Mumbai, this is usually 4-5 times the monthly rental.  There is legislation in the making, the so called model tenancy law, that might cap such security deposits to 2-3 times the monthly rental.

Why do landlords take a deposit

The basic intention behind a landlord asking for a deposit from the tenant, is usually to encourage the tenant to properly look after the rental premises and deter them from causing damages to the rental premises.  If the tenant causes any damages to the rental premises during the tenancy, the landlord, as per the terms of the rental  agreement is well within his/her rights to deduct the appropriate repair costs of such damages from the

A rental agreement should make sure that the following components are always included:The details of the landlord and the tenant including the name, address and contact details.The full postal address of the property and its dimensions.  How long the rental agreement is valid for – the duration of the tenancy?What is the rent per month to be paid by the tenant to the landlord and by what date every month? What is the security deposit to be

Usually a rental agreement specifies that the landlord might, within reasonable limits, deduct repair charges from the rental advance/ security deposit for damages caused by the tenant during the tenancy. However there are a few grey areas here.Firstly are the damages solely attributable to the tenant or were they pre existing?Secondly who decides what is a fair amount of repair charges to be deducted? The question is what could the tenant do if the landlord cuts

Here are the steps that you should take if your landlord refuses to return your security deposit:Talk to the landlord and tell him/her that you find the withholding of the deposit totally unreasonable. Ask for justification from the landlord. Try to convince the landlord about returning the deposit.If speaking to the landlord does not work, send a formal email to the landlord about how you feel about not receiving the deposit, the reasons why you

Speak to the landlord well in advance about your plans to vacate the home.Give him/her enough time to make arrangements for the return of the rental deposit.Clearly specify the mode of return – whether you would like it via cheque or via digital medium. Also make clear to the landlord that the home is indeed in the same condition as it was when you took possession. Ideally you have a report of the issues that existed when

Usually the tenant has no choice in the matter but to pay as deposit what the home owner demands. The standards vary from city to city.In Bangalore, for example, the typical security deposit is usually 10 times the monthly rental. In Mumbai, this is usually 4-5 times the monthly rental. There is legislation in the making, the so called model tenancy law, that might cap such security deposits to 2-3 times the monthly rental.However the suggestion would

Here are the steps that you should take if your landlord refuses to return your security deposit:Talk to the landlord and tell him/her that you find the withholding of the deposit totally unreasonable. Ask for justification from the landlord. Try to convince the landlord about returning the deposit.If speaking to the landlord does not work, send a formal email to the landlord about how you feel about not receiving the deposit, the reasons why you

While the common perception is that landlords in Bangalore demand 10 months rent as advance or security deposit, it is seen that most of the landlords are open to negotiating this aspect. They are willing to settle for a lesser amount as advance or security deposit if the tenant is able to convince the landlord of his ability to maintain the premises appropriately, pay the rent punctually etc. As a wannabe tenant, it never hurts

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