Legal Safeguards - Secrets of Good India Property Management Revealed
Understanding your rights inside Indian legal system
When we believe of letting our property, first of all , occurs to us, "What when the tenant doesn't vacate my property?" In the past, this was a sound fear. The older law, The Bombay Rent of 1947 protected the tenant from eviction and rent increases. This resulted in landlords losing power over their property. Finally in 1999, the Maharashtra Rent Control act was passed- now to protect both sides involved.
Most people still cling towards the old notions of the Indian legal system. Mr. Patel from Harrow online resources a designated in South Mumbai, put it best, "I understand that all tenants are certainly not bad but suppose I let my flat out to your tenant who then refuses to vacate. I have heard that filing a court case in India takes years. I don't want to spend five to ten years paying hips and appearing in the court. I want my flat available when I want it." It is true a legal case can take more than anyone would wish, but you will find alternative solutions.
Good property management companies use leave and license agreements that cover the right of recovering possession within the relevant sections of both Bombay Rent Act and the Maharashtra Rent Control Act. They also include clauses of arbitration in case of dispute. Ideally, Leave and License Agreements are valid for 11 month periods and so are duly registered. Tenant's details are also submitted on the local police station.
If the tenant will not vacate, good property management companies assist by issuing notices on behalf from the landlord. If that will not work, a police complaint must be filed. The police then aid in evicting the tenants. In majority in the cases, that is all of that is important to reclaim the property. property valuers Carlton would be to go towards the small causes court equipped with the registered agreement. Typically such cases are decided within 15 working days with all the right documentation.
The Indian real estate market along with the Indian legal system are safe and fair for most law abiding citizens. Good property management companies make certain that landlords are protected, making their residence ownership a joyful experience.
Want to know more to do with the Indian housing market? Unesta is really a property services firm, with offices in London and Mumbai, offering letting, sales and property management services to NRIs owning property in India. +44 207 125 0425.