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Bangalore
Bangalore
on
DizzyNarwhal
DizzyNarwhal
Stealth

Query around rental agreement

We are planning to rent an apartment but we want to rent it for minimum 3 years to avoid hassle. So planning to have a minimum 3 years agreement. So two queries around it:

  1. What should be yearly %increase in rent advisable
  2. Even for longer term agreement, owner can give 2 months notice for vacating. So how do we protect against it

Thanks

7mo ago
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BubblyNugget
BubblyNugget
Stealth7mo

5-10% in hyd

FuzzyUnicorn
FuzzyUnicorn
Stealth7mo

5% is the standard increase. And 1-2 months of the standard notice period on the agreement but it depends on the owner- tenant relationship by and large.

GoofyMochi
GoofyMochi
Angel One7mo

Are you ready to pay stamp duty?

If rent agreement is of more than 11 months then you will need to pay stamp duty.

SparklyMochi
SparklyMochi
Fortinet7mo

2 months notice IS the protection. That is a lot of time to find another tenant for most cities.

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