IF you live in a rented house, where your landlord organises maintenance and plumbing, fixes electrical hassles, count yourself lucky. But, let's get real - it's never that easy.

To make your renting experience as hassle-free as possible, we have laid down some house credentials that you need to verify:

1. Title documents
This is proof that the person renting out the premises is the actual owner of the place.
2. Share certificates
If the place rented out is part of a co-operative society or colony, share certificates also need to checked.
3. Electricity bills
It is generally in the owner’s name.
4. Verification of built up area of the dwelling place
This is done by a qualified architect.
5. No-objection certificate
This is a certificate that specifies conditions for rent/lease, some do not allow bachelors and may have other forms of conditions that are defined in the document.

Also read: Home loans: documentation checklist

This said, there are some aspects in the lease agreement you need to be careful about:
1. The licence period, the consistency of the license fee paid through the entire license period, payment of costs associated with the house such as municipal taxes, society fees and charges etc. The owner is expected to bear such costs.

2. There should be definitive clause regarding any deposits given initially prior to renting the house.
The legal agreement should clearly state the refund of such deposits when the lease is terminated. Clauses defining what happens if this expectation is not met also needs to be in place. Usually, security deposits that are not refunded within seven days of the expiry of the lease are liable to be refunded with interest for each day’s delay.

3. Care needs to be taken to ensure the landlord does not indiscriminately retain funds from the deposit for supposed damage to the premises etc.

*Rental laws differ from state-to-state and hence these guidelines are restricted to some general laws.

Next page: Tips for landlord and tenant

Photograph: Vaibhav Shirke

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Abitha Deepak is Head of Content & Research at BankBazaar.com - An online marketplace where you can instantly get loan rate quotes, compare and apply online for all your personal loan, home loan and credit card needs from India's leading banks and NBFCs.

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