Even if it is unusual, people, especially people from another state, could be trapped while they were participating in a rental operation. Sometimes the janitors present themselves as landlords and try to collect the rent for themselves. Sometimes tenants could sublet the space themselves to another tenant by posing as a landlord. Many things could go wrong, which is why you need to pay attention to the following factors while you are participating in a rental business. To avoid potential scammers, here are a few things you could do – For many years, the task of establishing the lease has been outsourced to lawyers. Tenants and landlords simply submit their clauses to the lawyer who, in turn, processes stamp paper and registration obligations. Although this method is still favoured by many, it is a fact that people today do not have time to prepare an agreement in this way. What complicates matters further is that the lawyer will receive fees that he deems correct. For those of you who want to do all this yourself, LegalDesk has designed pre-employment, ready-to-use, lawyer-verified leases and a variety of other legal documents. These documents save you time and a lot of money. 11-month lease: This is the most widely used contract format in the country. The term of this lease is 11 months, at the end of which both parties have the freedom to renew/cancel the contract. Registration is ignored because the duration is less than one year and such rental agreements require the tenant to pay a fixed monthly rent to the landlord.
Commercial leases: these leases are signed solely for commercial and commercial purposes and are most often entered into by companies or companies and individuals. These leasing contracts rarely have a standard format, as the agreement must adapt to the needs of the company concerned, which is envisaged for the lease. These are large sums of money, which are rarely signed for a short period of time. Registration and correct stamp duty are rarely overlooked. The registration of a document is a means of discouraging fraud and potential counterfeits. It is also proof that the people mentioned in the document are those who actually signed the document. And the most important thing is that all the details of the property in the document are disclosed when a document is registered. Disputes, cases and previous title deeds are made public when a lease is registered. Real estate has always been a strong market in Kerala, where everyone is interested in adding as many homes as possible to their names. While the information technology sector is booming in the state, the demand for rents has only increased. For those of you who want to know about the creation of rental contracts in Kerala, this article is a must.
This is a certain amount of money that the landlord collects from the tenant as a preventive measure. If the tenant does not pay rent or cause damage to the premises, the compensation is recovered from the deposit. In Kerala, the rent is usually 2 to 3 months. This amount is refunded after valid deduction. To make an online lease for every city in Kerala, follow these steps – Although e-stamping has been announced in Kerala, this is still not very common. People still use traditional stamp paper for all intentions and purposes. They are very common with many stamp sellers in major cities. The registration fee for rental contracts in the state of Kerala is 2% of the rent.