Residential Rental Application Template: Fill & Download for Free

Rental Lease Agreement, Application Forms & Templates | EZ Landlord Forms

Here is the systematic approach to rent your commercial space.First and foremost, start with marketingTake quality snaps of your property. Take snaps from your high-resolution mobile phone camera (professional photography is not mandatory). Usw these snaps to list on property website.List your property in multiple property websites or property applications. Below are the few websites that provide free registration and at least one free listing. Use all the possible websites and don’t depend on just one or two websites. More the listing, more the leads coverage.magicbricscommonfloor99acresquickrolxhousingnobrokerfacebookWhen you list your property, provide consolidated details of your property, which includes snaps. size, directions. amenities, location, accessibility, rent, security deposit, and maintenance cost.Make use of offline marketing as well, Display the TO-LET signboard with your mobile number on the building front. (Please be noted, if you have geographical constrain like NRI or living in other cities, nominate a local trusted guardian to attend the call comes through TOLET board or it may invite anti-social elements like theft or robbery into the property). or better work only online channels and screen the visitor identity before arranging the property visit.Telephonic screening:You will start receiving prospective calls. You should screen the calls to avoid unnecessary walk-ins, save your time and energy.Here are the few screening questioners.Company name and identity: understand exactly what the company is and where they are coming from. Find out all you can about their business profile and history. Go a bit deeper to find out the successes of the business and identify the industry they serve.Type of business: Are they business suitable for your property. Ex: Retail, office, factory, warehouseBudget: Are they capable to pay rent, maintenance cost, utility bills, and security deposit on time.Duration of stay: Renting for 1 year, 2 years or 10 yearsWhat is the operating hour of business: Is the business operate 9 to 5 or 24X7.when is the intended date of possession or date of occupying the propertyOnce you are satisfied with response, invite for property tour and face to face discussion.Tenant finalization and screening documents: Once you finalize the tenant. Henceforth you should keep all the communication in written statement. The best mode of written communication is email.Demand the tenant to send the identity proofs by email. proofs likeBusiness establishment documents. Ex: GST CertificationBusiness PAN image or proprietor’s PAN imageDraft agreement:Prepare the draft agreement in word format and exchange the draft with tenant by email.A draft agreement consists of all possible terms and conditions. Some important points listed below for your consideration.As a property owner, prefer executing your agreement under the title of leave and license agreement rather rental agreement. You have more control than tenant under the title of leave and license agreement.Mention agreement execution dateOwner name and permanent residential address. Tenant name and corporate address or proprietor permanent addressRental premise address (A complete rental address should specify)Rental commencement dateDuration of agreement cycle. Typically. 11 months, 5 years, or 10 years. An agreement executed more than 12 months should register at respective sub-register office.Year on year appreciation %. Typical around 10%Monthly rent, maintenance cost, security deposit, water bills, electricity bills, parking charge, etc.. Its always better to specify all applicable charges in advance stage to avoid later conflict and argument because financial matters are very sensitive issues hence that should be out for mutual understanding. (No hide and later surprise)Property owner should mention bank details in agreement for rent transfer. Prefer account transfer instead of cash.Make sure, who is responsible for repair and replacement of damaged items during tenancy.Notice period. Usually 3–6 monthsPainting and cleaning charges at the time of termination.Add a clause that owner or his agent can inspect the property during tenancy with prior appointment to assess the condition of properly maintained.List the fixtures, furniture, and fitting with the name of brands and quantity.Record everything in agreement even if its small things. There should not be any assumption or presumption in your mind, everything should be in agreement and understandable to both. More the clarity in agreement, more the win-win situation for both parties.More the agreement is better, it's easy for you to complete termination formalities without hassle.Once the drafts ready, exchange the draft with tenant by email and seek his confirmation.If you looking for standard template of leave and license agreement. Please write to us. We share template at no cost.Below is the procedure to execute agreement LEAVE AND LICENSE AGREEMENTStep 1: Buy non-judicial E-stamp paper. Stamp paper is available at your local court, register office, or cooperative bank. Rs.100 to 500 E-stamp paper would be safe and best for commercial rental market.Step 2: Print the draft on E-stamp paperStep 3: Property owner and tenant have to sign at bottom of all pages of agreement. Witness has to sign at witness section (Usually at last page of agreement)Step 4: Meet the notary public nearby and get the agreement attested by notary.Step 5: If your agreement cycle is more than 11 month. Get your agreement register at respective register office.Transaction:Never ever collect token advance as soon as prospective tenants see the property. Owner can collect token advance or part of advance once after draft agreement exchanged and confirmed by both parties. There are instances that deal gets dropped due to non-settlement of agreement clause and later conflict for refund of advance.You might be wondering that complete security deposit must be received before or after signing the agreement or before or after handing over the property key.Now the banking becomes easy and convenient. We can do all at once. Yes, tenant can initiate the transaction at the time of agreement sign and key handover.Check-in form:Cross-check the fixtures and fitting details in presence of tenant. Take the snaps, videos, and exchange them through email to record the present condition of property for later reference. Probably at the time of termination if necessary.Termination:Before you finalize the tenant, you should judge if the tenant is easy for termination. Never choose the tenant who is hard to vacate.Both the parties should follow the notice period mentioned in agreement. I have written the NOTICE format at bottom of this answer for your referenceInspect the property as soon as tenant vacates the premises. Check if any repair and damage incurred, replacement for damaged products. painting and cleaning. Prepare estimate sheet and escalate to a tenant for tenant reference.Should mention security deposit refund duration in agreement. It could be on same day as key receipt from tenant or in a week or two.Receive property key from tenant on or before security deposit refund. Send the refund transaction screenshot to tenant by email.TERMINATION NOTICE (Title should come at centre)ToMr. TENANT NAMESubject: Rental terminationProperty address: XYZThis is to notify you to vacate and deliver up possession of property, which you presently occupy as my tenant. This notice is issue to terminate our leave and license agreement. Issuing the notice of 3 months as per our agreement, Notice period commence from 29th Sep 2019 and ends on 28th December 2019.We remind you of your obligation to leave the premises in a reasonable condition at the end of your tenancy.Thank you for your cooperation.Regards,NAME OF PROPERTY OWNERIn Karnataka, We provide the service of agreement drafting + execution + notary + home delivery in 2 working days. Same day express delivery available. To opt for our service, please Whatsapp 9 7 4 2 4 7 9 0 2 0.Thank you for reading…

All the listed below questions may not be applicable to you. Hence be selective on your questions.Try to gather true information from multiple sources instead of depending only on landlord. Other sources from neighbor, previous tenant, society maintenance staff, security, vendors (society electrician, plumber), etc..Here are few useful questions to ask,Ownership proof? Make-sure you are dealing with landlord, broker or property management firmIs the landlord lives in the same building?What is the rent per month?What is agreement duration? 12 month? 6 month? 1 month?How much is security deposit? Is security deposit refundable? Is security deposit paid on installment basis instead single shot?Is there lock-in period in this lease contract? What if we break contract early?What are my document require to complete screening procedureWill you provide PAN or aadhar number? (This is mainly applicable for Indian tenant to claim HRA and tax benefit)How is the water availability? Is there water scarcity?What is the frequency of power cut (electricity connectivity)?Power back-up available?Security and cctv camera available?Parking available for 4 wheeler and 2 wheeler?Transportation connectivity to office, hospital, school, market, bus stop, railway station, airport, bank and ATM?When is the possession available to occupy?Rent paid in month advance or month completion?Do i get rent discount if i sign long lease?Do i get rent discount if i pay quarterly or annual rent in advance? instead monthlyIf possession taken between month, is rent payable on pro-rated basis or complete month rent or rent free periodWhat is the maintenance cost? Is the maintenance cost paid monthly, quarterly or annual?In case of fluctuation in maintenance cost during tenant, who is liable to pay fluctuated cost?Which utility am i responsible to pay? such as electricity, water, parking, gas, common area utility etc..What are the furniture includes in lease? Is the details of furniture listed in lease agreement?What is year on year rental appreciation? what is the renewal policy?What is the mode of transaction for rent and security deposit payment? by online transfer, cheque or cash (Don’t accept cash transaction)Property be painted and cleaned before we take possession?Will i get receipt for rent payment?Guest are allowedWeekend party or family functions allowed to conduct?Who should execute lease agreement? landlord or tenant?Allowed to sub-lease property? especially parking space or additional room in basement which i will not be using?During tenancy, who is responsible for repair of furniture, fitting and appliances?At the time of vacating property, is tenant liable to pay renovation cost of painting & cleaning? and How much?Who is liable to pay taxes, cesses, assessment charges to Govt. Body / authority pertain to rental property?What is the notice period to vacate property? (usually anywhere between 1 - 3 months for residential and unto 6 month for commercial)Pets allowed? What is pet policy?What are the amenities includes? Gym, swimming pool, club house, children play area, Jogging track, super market? indoor games, out door games, library, visitors parking, etc…Is there penalty for late payment of bills and rent?What are the apartment or gated society rules and regulations?When are the utility bills to be paid?Is there periodic or proactive maintenance available?What is the typical turn-around time to attend maintenance issues?Does maintenance team function 24X7?Am I allowed to decorate interior? Hang pictures, frames, couple of needle hole, wall mount for television, air conditionerHas this place has pest issue? What are the pest control measures taken?Is there periodic inspection during tenancy, what will be your advance notice?What is the crime, accident and theft rate at this locality?Is the apartment noisy, is there highway road nearby and any other noise from sports club, children play area, factory, etc..Do all the fittings of water flow, faucet, curtain rods, windows, door stopper, cardboard hinges, toilet-seat, water heater, shower, soap stand, towel hanger are in good conditionDo you change lock between each tenant?Do you accept payments from individual roommate or one single consolidated pay? (This is applicable for only join tenancy)Is there Move-in and move-out charge?Is wi-fi available?Describe your ideal tenant?Will add more…Once you finalized the property, execute rental agreement on non-judicial stamp paper. Don’t depend on verbal agreement and promises.We share standard agreement template for Bangalore/ Karnataka location. Please write to us [email protected] to avail draft at no cost.We provide customized rental agreement service in Bangalore. Our service includes agreement execution + lawyer notary + home delivered. To opt for our service, please write to us [email protected] or whats-app +91–9742479020.Thank you for reading…