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  • How To Earn Safe Returns On Your Property When Renting It Out
    June 24, 2018

    how to earn safe returns on your property when renting it out

    If you are renting out your property for the first time, the process may appear confusing and tedious. The usual concerns of a first-time owner include how to calculate the rent, tenant’s paying ability, queries on the rental agreement, security deposit, tenant verification, etc.

    These concerns can be dealt with following the below suggestions to earn safe returns

    Documentation
    Prepare a legal documentation for the rental process to ensure that there are no discrepancies like illegal property infringement, absence of rent receipt, lack of information regarding the tenant’s background, etc. When the terms and conditions of renting is clearly stated in the agreement, future disputes between the owner and the tenant can be avoided effectively.

    Rent amount
    The amount to be charged as rent is considered to be directly related to the property’s value. The rental amount is considered to be 0.8% to 1.1% of the home’s total value. Also, the location of the property, available amenities, maintenance charges and other additional expenses are also decisive factors in determining the rent amount.

    Lease agreement registration
    It is recommended to register the lease agreement under the registration act to ensure its legal validity. The transfer of property act states that any lease deeds with a tenure of over a year should be registered. The usual practice is to prepare a lease deed for 11 months with an option to renew when the period lapses to another 11 months under the agreed conditions. These leases also have to be properly stamped.

    Ladder Mankav Greens is one of the top-rated premium projects among flats in Calicut. The flagship project of Ladder Kerala, one of the top names for apartments in Calicut, is equipped with best of modern amenities to facilitate an impeccable urban lifestyle aided by luxury living.