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If i am not wrong, the lease amount is completely refundable. eg: if you take 6lacs as lease amount for 2 years, end of 2 years you need to refund that 6 lacs to the tenant. I think the next question will be what is the benefit for the owner.
let us take a scenario where in owner buy a flat for $50lacs and let it for rent $6lacs lease. owner can use that money to repay the loan amount so that he can save on the interest portion.CommentQuote0Flag
- hi there,
what jaya is quoted is perfectly right, adding on to this a lease amount is generally worked out as the bank interest which shall be recieved on monthly basis.
A lease can be for 2, 3, 5 years based on this the amount Lease Key money varies.
And while vacating the amount would be refunded to you without interest.