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The tenant screening process typically begins when the prospective tenant (each adult applicant) completes a rental application and pays an application fee and perhaps a holding deposit. Rental applications are designed to collect personally identifying information (name, social security number, date of birth, etc.), address, employment ...
The Real Estate (Regulation and Development) Act, 2016 is an Act of the Parliament of India which seeks to protect home-buyers as well as help boost investments in the real estate industry. The Act establishes a Real Estate Regulatory Authority (RERA) in each state for regulation of the real estate sector and also acts as an adjudicating body ...
Rental management software for real estate properties can include end-to-end functionality such as marketing, rental applications, tenant screening, property management, payment processing, and accounting. Running a successful rental business needs staying up-to-date with the latest marketing strategies to attract and retain customers. [8]
Typically, developers purchase a tract of land, determine the marketing of the property, develop the building program and design, obtain the necessary public approval and financing, build the structures, and rent out, manage, and ultimately sell it. [1] Sometimes property developers will only undertake part of the process.
A rental agreement or lease may include a "rent review" clause which makes provision for the rental amount to be increased, the process for the landlord to provide notice of a rent increase and the options available to the tenant regarding acceptance or rejection of the proposed increase. [3]
The Model Tenancy Act, 2019 is a proposed tenancy law by the Government of India, designed to overhaul the tenancy market in India. [1] [2] [3]In 2019, finance minister Nirmala Sitharaman, spoke about creating the Model Tenancy Act to replace the archaic rental laws of the country, stating that "they do not address the relationship between the lessor and the lessee realistically and fairly". [4]
Step rent, also known as step-up rent or step-up lease, is a type of additional rent term found in commercial real estate where the rent increases or decreases at defined periods. It is generally used to simplify accounting by separating out the increases due to inflation into a separate row in the accounts .
The process of addition, variation or repeal of any part of the Constitution by the Parliament under its constituent powers, is called amendment of the Constitution. [1] The procedure is laid out in Article 368. An amendment bill must be passed by each House of the Parliament by a majority of the total membership of that House when at least two ...