Documents to Check before Signing | Godrej Properties

Looking for a house can definitely be a task! It’s a very daunting task. Finding a house in metropolitan regions like Mumbai, Delhi, Bangalore, etc is not easy and requires expert help.

Here are some quick parameters that need to be considered while renting a house or signing a rental agreement:

1- Renting Agreement

A rent agreement or a lease agreement is the most important of all the documents that we are going to refer to today.

First things first are to check the rent amount and its escalation. Every rental agreement form does have a particular clause that mentions the amount that you’ll be paying and a hike over it.

If there is no mention of the hike, you can challenge your landlord for the same if he/she decided to increase the rent on his/her terms. Generally, a gradual 10% increment in the rent is common after completion of the tenure. If you are a to-be tenant you should be completely aware of the same.

2- Duration of the Rent, Renewal, and security deposit

After the termination of 11 months, the renewal of the rental agreement happens. Along with it, it is also extremely important to keep an eye on the security deposit and how the amount will be calculated once the house is vacated.

3- Termination of the rent

Last but not the least,every house rental agreement particularly mentions the termination provision mentioning the time of stay and the notice period. Check for homes that give you a rent agreement online.

These should be specific points to be checked before signing a rent agreement.

These should be specific points to be checked before signing a rent agreement

The second phase includes the Fees and the charges that are included while making the agreement. Make sure that you know these things:

1- Mode of the payment to be made

As a to-be-tenant, you must be well aware of the mode of the payment selected while paying the rent in order to avoid any back and forth or confusion in the future.

2- Date and delay penalty

It is common to know the date of the payment of the rent before signing a rent agreement. Make sure to check if there is a clause that mentions the penalty amount if there is a delay in the payment of the rent.

3- Facilities

If there are amenities in the property that you are going to rent in viz. Swimming pool, garden, clubhouse, etc you should be aware if you are supposed to ay to use those facilities.

4- Previous charges

You should ensure to keep a check on the previously paid property maintenance, property taxes, and utility taxes before you move into your new house.

5- Monthly Rent, Extra Charges and Any Previous Charges

Before you finalise a rent lease form, confirm the monthly rent amount clearly mentioned in the tenancy agreement. Apart from the rent, review whether the tenant must bear any maintenance charges, utility bills, or other society dues. You must also ask for details on any previous charges like pending electricity, water, or property tax bills. Make sure the landlord clears all dues before you move in. This clarity helps avoid confusion later.

6- Yearly Rent Raise Percentage

A common clause in every rental agreement is the annual rent hike. In most cases, a 10% increase is applied after every 11-month cycle. Check if the escalation is mentioned upfront in the rent lease form. If this is not specified, ask for it to be added in writing. This keeps the rent predictable and prevents surprises at the time of renewal.

7- Legal Consequences

All rental property documents should spell out the legal implications of breach—by either party. For instance, early exit without notice, misuse of property, or non-payment may have consequences. While these might seem formalities, understanding the liabilities involved ensures that your interests are protected. In case of disputes, the written terms in the tenancy agreement will hold value, not verbal promises.

8- Security Deposit Refund Timeline

A major point of contention during vacating is the security deposit. The rental agreement should clearly mention the refund process like how soon after vacating the amount will be returned and what deductions (if any) will be made. Ideally, the return period should be within 15–30 days. Ask the landlord to document this clause. This is crucial in ensuring a smooth handover and helps you avoid unnecessary follow-ups.

The third phase is to keep a check on terms and conditions

When you rent a house, it might or might not come with terms and conditions of which some might include not allowing pets, not allowing late entry, not allowing loud music, etc. If you are looking forward to hassle-free living, make sure to keep a check on the T&C.

Then comes assessing the property completely. You should make sure to inspect every corner of the property. Check the functions and repair the damages before you move in. Also, your rental agreement should say who shall pay the maintenance after you move in. It could be anyone.

In conclusion, make sure to check all these boxes before you sign a rent agreement. Happy Buying!