Circumstances when you can say NO to your landlord

A relationship between a landlord and a tenant is documented in a lease agreement. Therefore in the case of malpractice it is important to pay attention to the length and width of the lease.

Most of us live in a rented house at any time of our lives, with friends or as a family. But how much do we as tenants know about rights?

Therefore in the case of malpractice it is important to pay attention to the length and width of the lease.

We have compiled 10 basic rights that every tenant has and can lawfully state that if not infringed:

1. Verbal or Oral Agreement

If the landlord insists on a verbal agreement for a tenancy rather than a written agreement, say no.

It is important to note that all tenure agreements of ten months or more under tenancy laws must be written and registered for recourse under these laws.

2. Peace of Living

Your landlord cannot walk in the rented premises without prior notice or communication.

Each tenant has the right to enjoy peaceful occupation of property without any disturbance or encroachment from anyone including the owner.

3. Unreasonable expectations

At any point of time under your tenancy your landlord cannot ask you to vacate or leave the premises without giving valid reasons.

4. Improper Information or Notice

The landlord does not have the right to ask you to vacate the premises for any valid reason.

Generally the proper framework of time according to law is the period of one month or the time stated in the terms of the agreement.

5. Illegal Liabilities

Landlords cannot transfer any liability for expenses incurred on the property for structural damage.

Structural changes to the property will only be borne by the owner in accordance with the law.

6. Last Month Settlement

Your landlord has no legal right to ask you to pay rent and not settle against the deposit during the notice period.

7. Deposit Returns

Your landlord must return the amount paid as security for the tenancy while vacating the premises.

8. In case of deceased tenant

The landlord does not have the right to ask the legal heirs of the deceased tenant to vacate without giving valid reasons. The legal heirs of a deceased tenant are legally empowered to continue the tenancy.

9. Increase in rent

Landlords cannot ask for an increase in rent contrary to the terms agreed under the agreement.

And according to state laws, there is a formula to calculate the percentage of increase in rent every year or any other specified period.

The tenant is only liable to pay the rent if the increase in the rent amount complies with the formula.

10. Forced expansion

Your landlord does not have the right to insist on continued tenancy. The tenant has the right to vacate the premises for a valid reason.

Real Estate Investment Tips You Can Use

If you are looking for more information about real estate investing, then you have come to the right article. Many people choose to invest in properties to ensure a solid income for the coming years. What it takes to be a supporter is only to make wise business decisions that produce great results. Keep reading for some practical tips!

Talk with a real estate expert to help with your planning and see if there are holes in your strategy. This will help you get a good idea of ​​where you stand and what you need to do to accomplish your goals. They can tweak the plan and give you an alternative plan instead.

If you ever feel a setback with your plan and strategy, never give up. The real estate market is full of many great and bad times, so if you make a null in your search, be sure to stay strong. Persistence is the key to success when working with real estate.

Do not automatically assume that the value of an asset is going to increase. Such belief is dangerous even if markets or parcels are not involved. Invest in assets you know you can trust.

The prospective tenant should be able to afford both rent as well as deposit for the first month. If they cannot, then they are not a reliable bet for you. Find another tenant.

Do not think that you always have to pay the list price for a piece of property. Too much time will make an owner exceed the price, as they expect people to interact and negotiate with them. They should not be afraid to make a low offer because they can just give you that money.

Do not dig around the property that you have not closed. It may also be illegal to dig in some areas, so do your homework first.

Find a market for foreclosures, as these can provide you with the most income during your investment. These properties will be listed below the market value of the house, as you can get some great deals to make a profit. There will be a bidding war, but if you win you may be sitting on a gold mine.

Try to improve your book. This will help you keep things as organized as possible. There are many more pressing things to think about. It is necessary to practice good bookkeeping if you build these habits so you can avoid big mistakes

Understand that real estate investment is a commitment. You may have heard a lot about quickly flipping properties for profit, but the reality is that you can make good profits by buying carefully and managing the property until property values ​​increase.

Constructing the best type of building for you to invest in. Buying property is just one aspect of real estate investment. You need to consider what you should do to maintain the property so that you can sell it for profit. You will need more or less to maintain different sized homes. Take only what you can handle.

It is important to know what you are doing yourself when you decide to invest in real estate. It does not matter whether you are a novice investor or a pro, yet you need the right advice to watch. Use what you have learned from this great article to ensure your success for years to come!

Property Mortgage Laws in India

The Transfer of Property Act, 1882 deals with the mortgage of immovable property in India. A mortgage is the transfer of an interest in real estate for the purpose of securing the performance of a loan or an engagement. Therefore, although the mortgage does not transfer the property to third parties, it generates interest in real estate. In this article, we look at some of the major laws and regulations regarding property mortgage in India.

Transfer of Property Act

The Transfer of Property Act deals with the mortgage of immovable property in India. A property mortgage is the transfer of an interest in a specific real estate to secure the payment of advanced funds in the form of a loan, an existing or future loan, or the performance of an engagement that may give rise to a peculiar liability.

Mortgagor - Mortgagee

Mortgagor: In a property mortgage transaction, a mortgagor is a person who borrows money in exchange for a mortgage on the property as an assurance to pay the loan.

Mortgagee: A mortgager person is a lender in a mortgage transaction. Usually banks or financial institutions.

Types of Mortgage In India:-

 

·    Simple mortgage

A simple mortgage occurs when a mortgage obligates the lender to pay the money according to the loan documents or gives the mortgagee the right to sell the property and act on the mortgage loan. In a simple mortgage, possession of the property cannot be given to the mortgagee.

·    Mortgage by conditional sale

A mortgage by conditional sale is when the mortgagee sells the mortgaged property to mortgage with a condition; the sale becomes absolute in case of default payment. In case of mortgage payment, the same property is void as per the terms.

·    Usufructuary Mortgage

The usufructuary is a mortgage when a mortgage saves possession of a property for the mortgage and authorizes the mortgagee to occupy the property until the debt is paid. Typically, the rent or profit of the property while in possession of the mortgage is applied in whole or in part towards the loan.

·    English mortgage

An English mortgage occurs when a mortgagee obligates himself to repay the loan on a certain date and has the property fully transferred to the mortgagee, subject to the provision that the mortgagee pays the property on payment of the loan amount. Will transfer back into the mortgage again.

·    Mortgage by title-deeds deposit

Mortgage by deposit of title deeds occurs when the mortgagee gives title to the real estate, with the intention of creating security until the payment of the loan, to the mortgagee.

·    Odd mortgage

Any mortgage that is not mortgaged by conditional sale or usury mortgage or English mortgage or title deed can be a simple mortgage.

Validity of property mortgage

Any mortgage other than a mortgage from the title deeds deposit is valid only when the mortgage is entered through a registered instrument that is signed by Mortgagor and verified by at least two witnesses.

You Should Know Before Buying Vastu Compliant House

The ancient science of Indian architecture, Vastu Shastra places great emphasis in choosing the right direction of the house, the size of the plot, air and ventilation to help the residents live a happy, healthy and prosperous life. Although most Indians still look for Vastu-compliant homes, the truth is that not all apartments follow the principles of Vastu Shastra. Rather, real estate developers in India only focus on optimal use of space. But many builders promise to provide architectural-friendly flats. Well, your decision to buy a house should not be influenced by attractive advertisements by real estate developers. Rather, you should flat check whether everything is designed perfectly. In this blog, we've shared some excellent tips to help you test whether a flat is Vastu-compliant.

1) Check the entrance or Main door.

By the way, most people think that the north-eastern entrance is the best, but there are actually 32 entrances in Vastu Shastra. And each direction has its own importance. East, west and north-facing entrances are always good. But south facing doors can either be extremely beneficial for housework.

· The main gate should not be in the southwest, northwest and southeast.

· While most Vastu experts suggest that northeast entrance is most beneficial.

· Others say that it can be extremely dangerous in some cases.

· The main gate should not be placed directly in front of the lift or stairway.

2) Kitchen Location.

· The kitchen should be in the right direction to balance the fire element of the house. Fire signifies wealth and cash flow.

· Having a kitchen in the north-east and south-west areas should be avoided.

· Vastu Shastra suggests that the kitchen should be kept in the south-east direction. However, this may not always be possible in modern homes. In such a case, make sure that the gas burner is in the south, west or northwest corner of the flat. And, while cooking, you should face east or north.

· The kitchen should not have black or blue tiles, floors or slabs. And, avoid granite under the gas burner. A marble slab is highly recommended.

· The cabinet should be placed on the southern wall.

3) The rooms.

· The master bedroom should be in the southwestern direction of the flat. And, the children's room should be in the east or north direction.

· The living room should be either in the east area or central area of ​​the house.

· There should be no bedroom between the east and south-east area of ​​the house as it may affect the health of family members.

· Bedrooms on the southern and western side are to be used by sons and are perfect for daughters who are on the northwest side.

4) Toilet or Bathroom.

· Modern homes have one or more toilets, which are connected to a bedroom or living room. Ideally, the washroom should be in the northwest direction. And, toilets in the north, north-east, south-east, and south-west directions are considered inauspicious.

· The bathroom or toilet door should not be faced in the kitchen.

General points you should know when purchasing property:-

· The land on which your apartment is built must be either rectangular or square in shape. Irregular shaped plots are considered inauspicious.

· There should be no pond near the south and west direction from the house. You should check if there is any swimming pool in these directions of your flat.

· Avoid balconies or courtyards in the western or southern direction.

· Apartments in red, black or sky colors should be avoided as these colors attract negative energy.

· The puja room should be either in the northern or eastern direction.

· According to the guidelines of Vastu Shastra, the ladder should not be in the north-east corner as it troubles the residents.

· The total number of doors and windows should be 2,4, 6 etc.

· All the doors of the flat should open inwards.