Huned Karjatwala (Manager) 08 May 2011

Giving apartment on lease - most safest legal route

I have an apartment in Mumbai and would like to give it on rent.

I have the following questions :

a) Which is the safest way to give apartment on rent (whatever it may cost) so that the tenant will not be able to create any problem for me and I will be able to get the property back within appropriate notice period.

b) How good are the lease agreements enforseable by law if the tenant breaches them ?

c) Which is more safe - giving on rent to individual or a company ?

d) Is it more safer to lease property to foreigners ? Is it more easier to enforce the lease agreement ?

Appreciate your advice.

Thanks

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2 Replies

prasanta kumar parida (sr. consultant) 09 May 2011

GIVE THE HOUSE ON RENT FOR 11 MONTHS AFTER EXECUTING ONE AGREEMENT IN RS.10/- NON-JUDICIAL STAMP PAPER BY ACCEPTING 2 MONTHS RENT IN ADVANCE & KEEPING A SUBSTANTIAL AMOUNT AS SECURITY(REFUNDABLRE WITHOUT INTEREST AT THE TIME OF VACATING THE TENANTED PREMISES. EVEN AFTER SUCH PRECAUTION THERE WILL BE ANY PROBLEM/DISPUTE THEN PLZ. CONSULT WITH A SOUND CIVIL LAW PRACTITIONER TO MOVE THE COMPETENT COURT OF LAW FOR EVICTION & REALISATION OF AREAR HOUSE RENT.

Hardeep (Business) 10 May 2011

Well , going by the state of law as it seems to be prevalent presently, there is NO "safest way " to give your property on rent and be confident that it will be vacated per the contractual provisions when you want it to !!