Hey pal,My landlord increases rent every year. To make sure, I don't get duped. I conducted research on rules regarding increment in the rent. I will share my learnings below.
According to the Rent Control Act, rent can be increased yearly. It can be increased between 8% and 10% of the value of the property.
According to the Model Act, the landlord and tenant need to sign a written agreement which specifies the rent, period of tenancy and other related terms.
The security deposit of residential property is capped at two months' rent.
The tenant needs to be given a written notice for a rent increase, as per section 106 of the Transfer of Property Act, 1882.
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Rules regarding increment in the rent
dhritikana
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December 5, 2022
2022-12-05T11:11:01+00:00 2022-12-14T12:23:02+00:00Comment
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Rent Agreement
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