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Arbitration clause in a rental agreement

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Arbitration clause in a rental agreement

Last updated: April 16 2019
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  • Arbitration clause in a rental agreement

    What is an arbitration clause in a rental agreement and how does it help both parties, the landlord and the tenant?
  • #2

    #2

    Re : Arbitration clause in a rental agreement

    Well, there can be disputes arising between landlords and tenants and an arbitration clause in the agreement can help settle the issue amicably.
    Talk TRUE; Talk IREF

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    • #3

      #3

      Re : Arbitration clause in a rental agreement

      Alright! What kind of disputes does an arbitration clause cover in a rental agreement?

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      • #4

        #4

        Re : Arbitration clause in a rental agreement

        There can be many issues arising out of a rental agreement.
        • Return or forfeiture of security deposit.
        • Damage caused to the premises, fittings or misuse thereof.
        • Premature termination of rent agreement.
        • Delay in payment of rent.
        • Unpaid dues and utility bills.
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        • #5

          #5

          Re : Arbitration clause in a rental agreement

          Okay! What issue is that return or forfeiture of security deposit exactly? You mean landlord not returning deposit and all?

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          • #6

            #6

            Re : Arbitration clause in a rental agreement

            Yes, forfeiture of security deposit is one of the most common issues that arise out of rental agreements. It is seen that many landlords try to make unreasonable deductions in the deposit money. They come up with reasons mentioned above like damage to property or fittings etc. This tends to happen everywhere.
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            • #7

              #7

              Re : Arbitration clause in a rental agreement

              Some landlords are a greedy bunch with no humility at all. They deduct money for anything no matter how idiotic they sound. I have seen heard of some very stupid and greedy ones.

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              • #8

                #8

                Re : Arbitration clause in a rental agreement

                Thanks for sharing. So why don't tenants take landlords to courts or anything like that for such exploitation?

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                • #9

                  #9

                  Re : Arbitration clause in a rental agreement

                  Cosmochen Most of the tenants want to avoid unnecessary and prolonged court battles and hence choose deduction in the security deposit over legal procedures.
                  Talk TRUE; Talk IREF

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