Hey all
I would like to rent an apartment in Sun City Gurgaon, should i follow some legal aspects in renting an apartment . If yes, can anyone tell me about those legal aspects I have to follow.
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  • Rental deal

    You should enter into a leave license agreement with all clauses that secure your apartment.

    Pay stamp duty as per the prevailing laws.

    And ensure that you get a good tenant whose details are verified and you also get the details lodged at the nearest police station.
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  • Keep this in mind ....

    Hi Smantha,

    Keep this in mind ...

    If you want you can rent a property for a short term and then extend the period later then you will get the opportunity to evaluate the property and assess it's suitability before committing to a longer rental contract. Property owners/agents are often prepared to negotiate on the rental term.

    Its better to keep your options open !!
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  • 3 year lease deals with corporates would be a better option

    The oppurtunity costs of doing short term rentals are very huge and nullify the benefit that may accrue through increased rentals in the next 2 -3 years.

    Besides, corporates dont prefer to get into any lease that is lower than 3 years due to the high cost of relocations after short lease. And in today's market it doesnt make sense to go for individual lease.

    Select your tenant wisely

    My advice to landlords is : Quality of tenant is more important than the Rent itself

    Off course, the dynamics change totally, if you are looking to lease commercial real estate.
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  • Tenant Insurance

    have you people ever heard about tenant insurance??? what is it?

    I wonder if such a thing is there in India or not.
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  • Thanks John and Pinnacle for your suggestions in renting an apartment. Would you please tell me what are the benefits of long term rentals. If I go for long term.

    And Moreover , I would like to share my views regarding tenant insurance.

    Tenant Insurance: If you rent a home or apartment, your landlord probably carries insurance on the property. That coverage won't cover your possessions should something happen. That's why I suggest for tenant insurance.
    Tenant insurance also insures your personal property while it is temporarily away from your apartment (i.e. while you're traveling).Depending on your circumstances, you may want to consider insuring items such as bicycles or computers with additional coverage.
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  • Apartment for rent in Gurgaon

    Hi,

    Not sure if this forum addresses queries about rent!

    I am looking for a 2BHK apartment for rent in Gurgaon with a maximum budget of 28k-30k including maintenance. Preferences include residents primarily from corporates, good society benefits (common gatherings, well-maintained parks, active community etc.) and decent sized flats. Do apartments in Sushant Lok I (Block A/B) fit this? I have heard areas like Regency Park in Block C are also good.

    Any insights or suggestions will be very helpful.

    Thanks All
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