While Renting A Flat for Yourself: Details of the Property on Offer; and the Docs Required.

  1. You will need to have Rent Deed prepared by a lawyer. Generally, the owners of the flats provide you with a draft of the rent deed, which is often based on the previous rent deed, if any. It is advisable to have the same seen by your lawyer, if any. And if you do not have a lawyer, then do please engage one!
  2. What is the carpet area of the flats?
  3. Is the rent paid on carpet area basis?
  4. What are the monthly outgoings? This is especially important, if the tenant has to pay them.
  5. What will be the yearly increases of these outgoings? This is important to know, if you are going to stay there as the tenant for more than a year.
  6. Is there a Cooperative Society of the owners, or a Condominium, or just nothing, just an AoP?
  7. The approval of Co-operative Housing/Premises Society for the proposed tenancy. Very often, the Managing Committee, or a few designated members may like to meet the tenant, first. [You can call it an Interview!!!]
  8. How much is the common area? What use can be done of that, or not done?
  9. Is there an assigned Parking Space in the building Compound, in the basement, if any, or the Stilts areas, if any, for the flat to be rented?
  10. Was the building approved for Residential Use or Commercial Use? This is important as many buildings have been approved as Residential, but a few of the premises are being used for an office or consulting rooms, or any other non-residential user, etc.
  11. You may like to examine the copies of all the relevant documents. [It is not necessary to obtain copies of these, as you are only the tenant for a short while; but a simple look is enough. Generally, you can really on the owner; and the NoC issued by the Society, as per Item 7 above. ]
    1. The Owner’s Purchase Deed of the flat in question.
    2. This Deed will contain the Certified Copy of the Approved Plans of the building. If not, then you can ask one to have a look. [But, it is not really necessary, especially if the Society has been occupied and the people have been living in it, for quite some time now.]
    3. The Society Share Certificate favouring the Owner renting the flat.
  12. Strictly speaking even a Rent Deed is required to be registered with the Sub-Registrar of Assurances nearest to the property in question. [But this is not a very costly affair!] [On this issue, more later!!!]
  13. Often, a Society might insist on a Police Clearance of the Tenant from the nearest Police Station!
  14. A Tenant is required to become a “Nominal Member” of the Cooperative Housing Society. This is to ensure that the By-Laws of the Society are followed by the Tenant, as well, because he, and not the actual member of the said Society, is staying there.
  15. Any other relevant piece of information the person offering the premises may wish to share, as will help finalise the deal.

While Renting OUT Your Flat to Someone:  Steps Needed and the Docs Required.

  1. Once you have found a tenant for your flat, or other premises, you will need to provide a Rent Deed prepared by a lawyer. Generally, the previous rent deed, if any, is used by most people.
  2. The tenant may agree with this Draft, or show it to his/her lawyer. This will be especially necessary if the tenant is a corporate body.
  3. You will need to arrange for the Inspection of the Flat, or Other Premises, by the prospective tenant.
  4. And then furnish the few details necessary, like,
    1. The carpet area of the flat/premises.
    2. The rent to be paid.
    3. The monthly outgoings, especially important, if the tenant has to pay them.
    4. The yearly increases of these outgoings.
    5. The assigned Parking Space for the flat to be rented in the building Compound, in the basement, or the Stilts areas, if any.
    6. The approved user for the building
  5. You may need to show the copies of all the relevant documents.
    1. Your Purchase Deed of the flat in question.
    2. This Deed will contain the Certified Copy of the Approved Plans of the building.
    3. The Society Share Certificate of the Society in your name.
    4. The latest receipt of the dues paid to the Society, for the flat in question.
    5. The latest receipt of the property taxes, as paid, for the flat in question.
  6. It is not necessary to furnish copies of these to the tenant. [However, a corporate tenant might insist on copies of these, in which case they may be given to the tenant.]
  7. You will need to get the approval of Co-operative Housing/Premises Society for the proposed tenancy. Very often, the Managing Committee, or a few designated members may like to meet the tenant, first.
  8. As per Law, in Maharashtra, a Tenant is required to become a “Nominal Member” of the Cooperative Housing Society. This is to ensure that the By-Laws of the Society are followed by the Tenant, as well, because he, and not you, the actual member of the said Society, will be staying