What you need to know before giving your house on rent?

When people give their houses on rent, they undergo several problems. Many worry about finding the right tenant. Perhaps they have heard horror stories from their friends about how their tenants had ruined their lovely apartment.

It is very important to decide on a fair rate for rent. The annual rent is usually 2.5-3% of the capital value, although that might differ according to location and the amenities provided by the builder. It is also important to advertise your house properly. You may either choose to advertise on portals such as commonfloor, or use traditional methods such as advertising in newspapers or using a broker.

In addition to that, there are several pointers that you should keep in mind before giving your house on rent to any tenant. Below is a few renting exercises:

1. Make sure that your name is clearly mentioned in the property papers
2. All legal documents should be in your possession
3. Register the deed on stamp paper
4. The stamp paper should be bought in the name of the landlord and not the tenant
5. Both the parties should sign the deed in the presence of a district magistrate or a notary
6. The notice period for termination of the rent agreement must be clearly mentioned

Keep in mind these points from Top Builders in Bangalore while giving you apartments on rent. If you have something to add to above please put it in comments box with your valuable.