Legal Safeguards - Secrets of Good India Property Management Revealed
Understanding your rights inside Indian legal system
When we presume of letting our property, firstly , occurs to us, "What in the event the tenant will not vacate my property?" In the past, it was a legitimate fear. The older law, The Bombay Rent of 1947 protected the tenant from eviction and rent increases. This generated landlords losing control over their property. Finally in pop over to this site , the Maharashtra Rent Control act was passed- on this occasion to safeguard each party involved.
Most people still cling on the old notions of the Indian legal system. Mr. Patel from Harrow online resources an appartment in South Mumbai, put it best, "I realize that all tenants are certainly not bad but let's say 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 or ten years paying hips and appearing in the courtroom. I want my flat available when I need it." It is true that a legal case can take longer than anyone would wish, but there are alternative solutions.
Good property management companies use leave and license agreements that cover the proper of recovering possession under the relevant chapters of both Bombay Rent Act along with the Maharashtra Rent Control Act. They also include clauses of arbitration in the event of dispute. Ideally, Leave and License Agreements are valid for 11 month periods and they are duly registered. Tenant's details are also submitted for the local police station.
If the tenant does not vacate, good property management companies assist by issuing notices on behalf from the landlord. If that doesn't work, a police complaint needs to be filed. The police then help out with evicting the tenants. In majority with the cases, this can be all that is essential to reclaim the exact property. The last resort is usually to go towards the small causes court with the registered agreement. Typically such cases are decided within 15 business days with all the right documentation.
The Indian real estate market along with the Indian legal system are secure and fair for almost all law abiding citizens. Good property management companies make sure that landlords are protected, making their home ownership a joyful experience.
Want to learn more to do with the Indian market? Unesta is often 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.