Noida is one of the largest industrial hubs in
Asia. The city has the largest number of manufacturing units, MNCs
and corporate houses of many companies. This gives rise to migrated population
in the city. People coming to Noida for employment usually live in rented
houses. This is the reason property investors in India buy second and third
homes just to use them as a rental property. But just buying an extra
residential apartment is not enough to earn rental income.
Apart from largest industrial hubs, Noida is also a city with a high
number of crimes. This makes really important for the landlords to carefully
choose tenants and rent their flats. One mistake in the selection of a tenant
not just causes them financial loss but can also pose risk for other residents
in the society. If you have extra propertyin
Noida and want to use it as rental home, read below some tips to
find a reliable and right tenant
Research: Before
starting a discussion with the tenants, you must be aware of the ongoing rent
in the society. Tenants usually talk to many landlords and have complete
knowledge of trending rents. So you should quote a price that is in sync.
Though you can also demand more rent, but this is possible only when you are
offering some extra features like a fully furnished apartment or more area than
other flats in the society.
Police verification: In this time, when crimes by tenants are increasing, you should never
rent out your home without proper police verification. Fill the form and submit
it at the local police station with all valid identity proofs of the tenant.
Police will further verify the background and details provided by the tenant to
provide you approval.
Advertisement: In today’s
digital world, you have many options to let people know about a vacant home.
You can either paste a notice on your society’s gate or can update local
brokers. If you don’t want to share your money with the brokers, you can list
your residential property in Noida
on different real
estate websites.
Rent agreement: Usually, the
brokers get rent agreement with clear mention of all the points including due
date of rent, mode of payment, duration of lease and consequences of canceling
the lease before 11 months.
Register the agreement: Getting the rent agreement registered can be helpful in many
situations. A registered rent agreement makes a more valid document in court as
compared to a notarized agreement. Usually, landlords have to bear the stamp
duty charges, but if you want you can also share it with the tenant. If you
have invested in Noida
Expressway projects and want to use them as rental property, you
must get rent agreements registered as this area has more fraud cases.
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