FIXED RENTAL PLAN - terms and conditions
Rento Properties - Property Management & Rental Services
GENERAL TERMS:
1. Four months Security Deposit. 50% of Security Deposit paid at the sign of signing agreement. 50% paid once the tenant moves into the property.
2. Depending on the property and location, there be one time grace period to be considered by the owner to find and place the suitable tenants to the property.
3. Rent starts from the day Agreement is signed.
4. Maximum 60 days time to complete the formalities like clearing deposit payment. If we don't get or find a suitable tenant for the property, company can cancel the agreement with the owner.
5. All rental payments and security deposit will be done only by bank transfer or cheque and no cash payments will be made.
6. Rent paid on post paid post paid basis which means 1st to 30th of the present month rent is paid by 05th of the following month.
PROPERTY STANDARDS:
1. Flat should be in tenantable and good condition. Painting, Deep Cleaning and any small repairs like plumbing, bulbs, curtain rods, 2 set of locks and other repairs need to be fixed by the property owner before signing the agreement or tenant taking possession.
2. Two years minimum rental agreement. More the years - more the rent.
3. Every eleven months 5% increase in the rental amount.
DOCUMENTATION:
1. Copy of Proof of Ownership or Latest Tax Paid Receipt & Electricity Bill.
2. Copy of Aadhaar and PAN of owner.
3. Lease Agreement will be executed between Owner and Rento Properties.
CANCELLATION POLICY:
IF OWNER CANCELS:
Property owner can not cancel the agreement as company takes the property on fixed term basis.
IF COMPANY CANCELS:
a) Company can cancel the deal incase owner fails to paint, deep clean and fix any repairs in the flat as agreed and by terms and conditions. In such case, owner has to to refund full refund of any amount received from company.
b) In case if company cancels owner can deduct the equal amount of rent from the date of Lease Agreement to until the cancellation.
LOCK-IN PERIOD:
Initial 24 months will be the lock-in period to Owner and can't cancel the Lease Agreement during the lock-in period.
NO BROKERAGE:
No brokerage charged to owner who is opting for FIXED RENTAL PLAN service. Zero Brokerage or No Fee to owner.
NOTICE: RENTO PROPERTIES DOESN’T CHARGE ANY BROKERAGE TO OWNERS WHO OPTS FOR FIXED RENTAL PLAN. PLEASE CONTACT CUSTOMER CARE OR EMAIL TO CONTACT@RENTOPROPERTIES.IN TO REPORT IF ANY EXECUTIVE IS ASKING FOR COMMISSION.
