Leasing a property - there are few glitches
1 year ago
My brother wants to lease a property in Chennai, tamilnadu. But there are few glitches
1. The tenant still lives in that property
2. The owners is asking for full amount in 2 months advance to give the money to the existing tenant to whom he has given 2 months notice.
3. After receiving the money the owner would draft an lease agreement in 100 rupees stamp paper.
4. Is this the right process
5. How do I get the guarantee for the money i handed over without any paper work
A.Dear Sir,
My answers are as follows:
1. The tenant still lives in that property
Ans: No, advance amount to be given unless tenants vacate the property.
2. The owners is asking for full amount in 2 months advance to give the money to the existing tenant to whom he has given 2 months notice.
Ans: If such amount is given to the landlord then your brother will be in risk.
3. After receiving the money the owner would draft an lease agreement in 100 rupees stamp paper.
Ans: You are entering into dangerous situation.
4. Is this the right process
Ans: It is not a right process.
5. How do I get the guarantee for the money i handed over without any paper work
Ans: You may take post dated or undated from the landlord.
My answers are as follows:
1. The tenant still lives in that property
Ans: No, advance amount to be given unless tenants vacate the property.
2. The owners is asking for full amount in 2 months advance to give the money to the existing tenant to whom he has given 2 months notice.
Ans: If such amount is given to the landlord then your brother will be in risk.
3. After receiving the money the owner would draft an lease agreement in 100 rupees stamp paper.
Ans: You are entering into dangerous situation.
4. Is this the right process
Ans: It is not a right process.
5. How do I get the guarantee for the money i handed over without any paper work
Ans: You may take post dated or undated from the landlord.
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A.Dear Client,
I’d suggest you to get in touch with a local advocate who could suggest you regarding this and draft the paperwork.
I’d suggest you to get in touch with a local advocate who could suggest you regarding this and draft the paperwork.
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