The do’s and don’ts of renting
We know that finding the right place to live in a new country can be a daunting prospect. This Guide explains the process of securing a property in India, step by step.
Step 1: Choose a reliable and professional property agent
The team at Everything Expats will hold your hand through the whole process – from looking for your home, writing your agreement, getting it registered, to getting you settled into your new home. Apart from having over 400 of our own listings we also work with over fifty brokers to assist you in finding your perfect property (apartment, bungalow or villa) in India.
Step 2: Move with an open mind
We recommend that you move to India with an open mind. The work culture and people are different here from what you are used to – and it might take you a little while to call India home. I have had expat wives say to me “I really was not sure what to expect when my husband said we were moving to India, but now that I am settled here and have met some great people, I really don’t want to leave. I keep trying to get my husband to extend his contract so we can stay longer”.
Step 3: How to get the property search started
Write down certain criteria for your home search:
- Whether you would like to live close to work or close to your kids school;
- How many bedrooms you want (please note a ‘3BHK’ is 3 Bedrooms, Hall and Kitchen; and a ‘3.5BHK’ is 3 Bedrooms, Hall, Kitchen and Servant’s Room);
- Will you be bringing any furniture with you (this would help determine whether we show you fully furnished, semi furnished or unfurnished homes);
- The length of your contract with your company;
- Do you want your home to have full generator backup (as we do loose electricity on certain days);
- Whether you want to stay in a gated secure neighborhood;
- Whether is it important for the neighborhood to have a pool and gym;
- Your budget for rent.
Step 4: Start looking
At Everything Expats we believe in finding you a home that would best suit your needs and would be happy to show you as many homes it takes to find you your ideal home. At the end of each day we will sit down with you and shortlist the homes you have liked. Don’t be disheartened if the house you like does not have A.C.s or an oven, as many landlords are willing to provide these things. Once you have narrowed your selection down to the top three we will revisit these homes with you and make a list of things you want done in the home such as painting of the home, adding furniture or appliances, removing furniture etc. This list will be added in the agreement as Schedule III.
Step 5: Time to negotiate
We will do this for you. Important items that we would need to agree on with the landlord would be: Term of agreement; lock-in period; notice period; security deposit; escalation; any home improvements required by the tenant; and rent. Once both parties are in agreement with these terms, we will draft the Leave and License agreement.
Step 6: The Leave & License Agreement – What is it and some important clauses
This is a legal document and is binding on both parties Licensor (landlord) and Licensee (tenant). It can be a company lease between the landlord and your company or individual lease between the landlord and you.
- Term of Agreement: The number of years the agreement is written for.
- Lock-in period: The number of months or years you are certain you would want to stay in the home. As neither you nor the landlord can terminate the agreement during this period. If you do, you will be required to pay the rent for the remaining months of the lock-in period.
- Notice Period: You are required to give a notice in writing before moving out. This can be for one to three months and is added onto the lock-in period.
- Security Deposit: This can be anywhere from three to twelve months of the rent amount.
- Escalation: This clause states the percentage the rent will go up by after the completion of one year from the commencement (start) date of the agreement.
Step 7: Get ready for the move
Keep in mind that the landlord will not start the work on the improvements in the house till he has received a registered copy of the agreement and either a token amount (usually first month’s rent) or the security deposit. We will work with the landlord or the broker representing the landlord in getting the home ready for your move. We will do a walk through with you the day before the move in date. We will assist you with getting the internet, cable TV and gas connections set up.
Step 8: Agreement Registration
The cost for this is split 50/50 between the landlord and tenant. It is done at the registrar’s office and both parties have to be present. The amount is determined based on the rent, security deposit and term of agreement and has to be paid in cash. This should be done as soon as possible.
Step 9: C form and Tenant Verification
The landlord is required to submit a C form for each member of your family to the police commissioner’s office and a Tenant Verification form to the local police station once you have moved in. You will be required to sign these forms and provide the landlord with documents like your passport copy and might have to go in person with the landlord for the submission of the tenant verification forms.
Good luck and enjoy your new home! If have you have any more queries please don’t hesitate to contact us.