Rent Agreement Cheque

It`s convenient for the landlord and tenant. The landlord does not need to chase the tenant every month after the checks and the tenant receives the benefits of post-dating meetings, namely that the landlord is prevented from depositing all the cheques at once. However, in practice, sometimes things do not go as well. Due to the large number of cheques and the automated process in most financial institutions across the country, cheques can be cashed at any given time. This causes problems because the bank can hit you with fees, your account should not have a sufficient account and be discovered. This is important to note when your landlord asks for post-taken cheques. Never be tempted to go for a property where you are not 100% sure that you can pay rent (and other cost of living) for the duration of the contract. Use our rental calculator to give you an idea of how much rent you need to play with. 1.

Caution: For different cities, the value of the deposit is different, i.e. not even the monthly rent. In Mumbai, 10 months bail is required, while in the NCR, the 5-6 month bond is OK. This deposit is refunded, but I have observed that in some cases there were disputes on the same. In the lease, it was not clear whether the deposit would be repaid or not repaid. You should always mention that “security deposit is refundable.” You can request the receipt of separate payment of the deposit with the contact details of the cheque number, date and signature of the owner. It should be noted that a tax that real estate agents can charge is a deposit limited to one week`s rent. This deposit “reserves” the property until the final lease is signed. Of course, if the deposit is treated fairly, you either get it back when everything is ready, or you could put it towards your first month`s rent. But the most important thing is not to rush to sign your contract. You can always ask for a copy of the contract in advance, so you have time to read it correctly.

Make sure you keep a copy and don`t hesitate to ask for anything. Whatever you decide, just make sure you check the contract carefully. It may stipulate that you cannot stay in the accommodation during daylight saving time due to repair work, or that, if you do, you may be required to rent full time, even if only one or two tenants are present. Listen to the horror episode of our podcast to find out how the signing of a common lease came back to bite one of us into the 🍑.