Rent change by New owner
1 year ago
My rent was increased from Jan 2022 as per the rental agreement and now the house has been sold to a new owner in June 2022. How much rent can the new owner increase? I'm living in Bangalore.
A.Dear Client
There is no specific law on this and depends on the agreement that has been executed between the landlord and tenant. The new landlord may not increase anything if he feels that the rent is as per the market trend.
There is no specific law on this and depends on the agreement that has been executed between the landlord and tenant. The new landlord may not increase anything if he feels that the rent is as per the market trend.
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A.Dear Client,
The Act clearly specifies the period, inheritance, rents payable as well as the obligations of landlord and tenants. In India, the applicable rate of rent increase is around 10 percent, every two years, for residential properties.
The Act clearly specifies the period, inheritance, rents payable as well as the obligations of landlord and tenants. In India, the applicable rate of rent increase is around 10 percent, every two years, for residential properties.
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