Deposit Payment Terms
- Generally, one month of rent is taken as security deposit but some properties may have a different case.
- Tenant is required to pay a part of the security deposit, referred as the token deposit, at the time of booking.
- The remainder of Security deposit post booking need to be paid 2 days before the move in date.
- The security deposit paid is mentioned in the rental agreement.
- Security / token deposit can be paid either by cash or online.
- The rent will start from agreement start date, provided at the time of booking.
- Tenant needs to pay the rent in advance, on or before rent due date as mentioned in the agreement.
Late Payment Charges
- From 1 to 5 day/s after the rent due date as per the agreement: INR 500.
- From 6 to 10 days after the rent due date as per the agreement: INR 200 per day for every day of delay.
- Non-payment of rent post 10 days after the rent due date as per the agreement would result in breach of tenancy terms and the tenant would be required to vacate the scheduled premises immediately.
- If the rent is not received by the due date as per the policies, Rental Spaces is at liberty to report the delay or non-payment to credit agencies which can impact the tenants credit score.
Your Rent Covers
- Monthly rent.
- Fixed Furnishing charges.
- Apartment/society maintenance charges wherever applicable.
- Club House or Other Amenities, if charged by the Society, are not included in the package and it is at the sole discretion of the Society to allow/not allow tenants to use common society facilities.
Please note :
The Society Move-in Charges (Required to be paid to the Society Chairman on behalf of Tenant) , wherever applicable, needs to be paid over and above the current charges. This amount, wherever applicable, will be part of On-boarding Charges and follow the same process as On-boarding charges in terms of refund.
- Move-in date can be rescheduled to any day as long as it is after agreement start date.
- If the tenant decides to move-in before agreement start date then the agreement start date will be preponed to the move-in date. The rent shall be calculated according to the agreement start date.
- If the move-in date is postponed the rent will start on the agreement start date. However, the utility charges and other charges will be charged from actual move in date.
- Documents for e.g.: - address proof, identity proof, proof of employment, photograph etc. and profile need to be uploaded 2 days before the move in date. If document and profile is not uploaded on time then tenant will not be able to schedule move-in.
- Property or part of property will be automatically released and will be available for booking to others if any of the previous two conditions on Token/Security Deposit payment and Document upload is not complete.
- Tenant needs to schedule his move-in prior to actual moving into the house.
- Move out needs to be initiated by the tenant. Please log-in to www.rentalspaces.in with your registered E-mail id. Go to My Account and Select Move Out or inform the caretaker / relationship manager.
- Tenant need to ensure his presence on the scheduled move out date else the damages, if any, listed by the inspection team would be considered final.
Safety and Security
- All listed and our properties are located in reputed society and safe locations. In order to maintain a peaceful environment, nuisance or misconduct of any kind including but not limited to playing loud music beyond the permitted time limit, drinking/smoking in society corridors/ premises and consumption of illegal and banned substances are not allowed in any property.
- In the event tenant breaks any rules as stipulated herein or as contained in the leave and license agreement, Rental Spaces on behalf of the owner, reserves the right to, issue appropriate notice including but not limited to Eviction notice to the tenant or charge a penalty amount of 5000 INR or more at its sole discretion.
Theft and Damage Policy
- In the case of theft/loss and damage of any furnishing or appliance or furniture in the house, tenants staying at the scheduled premises at that point of time shall be held responsible.
- A reasonable sum shall be deducted from security deposit of tenants towards compensation of the loss/ theft and damage. In case the recovery amount exceeds the security deposit, the tenants shall be liable to pay the amount.