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Renting property to a bank employee
05-Sep-2023 (In Property Law)
Hi,
We want to rent our property to a bank employee. The agreed rent is 30k with an increase of 10% per year for a period 3 years. However, the bank will pay 22k minus TDS and the remaining will be paid by the tenant themselves.
How do we go about making a fool-proof agreement so that we can be assured to get the complete rent?
Thank you
Jisha
First of all forgive the word rent agreement. You have to make leave and licence agreement between you and that employee dear. And whatever earning you will receive that should be named as licence fee and not the rent. So don't use the word rent and register the same before sub registrar. I can provide you draft.
Helpful?
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Adv. Manoj Mulchandani
Nashik | 500+ Answers
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you have to mention in your agreement details of your rent. bank is agreed to pay 22000 rupees. you have to mention in your agreement that the person who is going to live in your house he should pay 8000 rupees or whatever the remaining amount it
Helpful?
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