Protecting property: Before you decide to let
There are however, instances of litigations especially due to the lack of safeguards on the part of the owners. If the correct procedure is followed, home owners will have a steady source of additional income as demand, already high, is projected to increase further.
A few decades ago, landlords were reluctant to give their properties on rent mainly on account of three apprehensions.
One, the fear that the property may be grabbed by the tenant and will not vacate when you want him to, resulting in long-drawn legal battle for eviction. Two, the fear that the flat would be misused and proper care may not be taken. Third, the fear that the property may be sublet to a third party.
There were lakhs of vacant flats in cities across the country a few decades ago, and none of the owners had the courage to risk it by giving it on rent. There were two main reasons. The main reason was the lack of adequate laws to protect the properties and second, there was also a lack of awareness that an agreement, if entered into carefully, could actually benefit both