Treat your rented property as your own

The terms of contract for renting property should benefit both the lessor and the lessee.

This is the second part of a two-piece series on the numerous rights and responsibilities that lessors (landlords) and lessees (tenants) have towards each other. Knowing some basic covenants of law can help parties negotiate and finalise terms and conditions of the lease better, and prevent disputes. The following covenants are implied in nature — in other words, they apply in the absence of a contract to the contrary between the landlord and the tenant.

Rights and Responsibilities:

  • A lessee is required to pay his rent on time to the lessor, in the proper method as specified in the lease deed.
  • A tenant is required to maintain the property in a good, habitable condition throughout his term of occupying the property. Upon expiry or termination of the lease, as the case may be, the tenant is required to peacefully hand over the property in the state in which he had first received it, except reasonable wear and tear.
  • A tenant is required to use the property as a person of ordinary prudence would. Also, without the lessor’s consent, s/he is prohibited from allowing any other person from using the property for purposes other than what it was originally leased for. Further, a tenant will not allow anyone to do anything that may damage the property.
  • A tenant does not have the right to construct or erect any permanent structure on the property, without first obtaining the landlord’s permission to do so.
  • A lessee cannot deny the lessor entry to the property at all reasonable times for the purpose of inspection of the property.
  • A lessee must fully disclose all property related facts to the lessor that the lessee knows but the lessor may not necessarily be aware of. In the event of any harm being caused to the lessor due to lessee’s non-disclosure of vital property -related information, the lessor may claim damages and compensation from the lessee.
  • If a lessee becomes aware of any proceeding to recover the property or encroachment being made upon the property, or experiences any interference with respect to the right of the lessor concerning such property, the lessee is bound to inform the lessor of such encroachment/interference at the earliest.
  • Unless otherwise stated by the parties in the lease deed, it is the lessee’s responsibility to pay stamP duty on the lease deed. Inadequate/non-payment of stamp duty can lead to competent authorities’ impound such lease document, along with a hefty penalty of up to ten times of the applicable stamp duty. Moreover, lease agreements that are not adequately stamped and/or registered qualify as being month-to-month tenancy arrangements. A month-to-month tenancy can be terminated anytime, irrespective of the duration prescribed in the lease, after giving the lessee a termination notice.

Source: Hindustan Times(Estates), Delhi, June 29, 2013, Page – 3

Making your mind to Properties in Delhi NCR, Email us.

Advertisements

About Saviour Builders

Saviour Builders Pvt. Ltd. is one of the leading real estate developers in Delhi NCR. The Saviour Group is the tantamount to deliver contemporary quality amid excellence and diverse innovation. It has emerged as one of the prominent entities in the real estate sector of India and is into residential, commercial and township projects in and around Delhi NCR. The Group devotes its complete dedication to reach higher and build better. With its immense hard work and loyalty, Saviour has accomplished the dream of delivering various tremendous infrastructures round the city. We intend to provide you with affordable houses in the Delhi NCR region. Some of its significant projects like Saviour Greenisle, Saviour Park, Saviour Street, Gaur City -1, Gaur City -2 and many more have created a new benchmark within the trade. Today, we have our presence at Noida, Noida Extension, Greater Noida (West) and Ghaziabad. We, at Saviour, are building homes based on trust and you are invited to build your future with us. We help you live your dream of living in style.

Posted on June 29, 2013, in Real Estate and tagged , , , . Bookmark the permalink. 1 Comment.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: