A Stress Free Guide on How to Rent An Apartment in Mumbai? – Part 3 of 3
7. Legal Agreement
Next step is signing the agreement. There are several drafts available with brokers and landlord that have been used over and over again. It is mostly standard procedures that are mentioned. Your broker should be well versed with the details. However, it is always good to go through them yourself for due diligence. In case you do not understand something then it’s always good to clear it out before hand. The last thing you want is to commit on is something that you do not understand.
One thing that is normally done is clearing the total deposit amount before the signing of the agreement. This is because the cheques that are issued need to be mentioned in the agreement and the receipt of the cheques is acknowledged by the property owner. There is always some back and forth that happens in the agreement, where clauses are deleted, added or modified. This is standard procedure. Once the agreement is cleared by both the landlord and the renter, it is signed and is now a binding contract.
Some of the important things to check in the lease agreement are –
- Lease Tenure
- Lock – In Period (refer to the glossary of terms)
- Notice Period (refer to the glossary of terms)
- Annual Escalation
- Property Maintenance (has to be borne by the landlord)
- Utilities (has to be borne by the lessee)
8. Registering the Lease Agreement with Police Verification
Registration of the agreement is a type of government notary. The process basically notifies the government that two separate parties have entered into an agreement. It is now a part of the government registry. There are fees involved in the agreement registration which is borne equally by the landlord and the renter. The process basically involves taking digital pictures, signatures and thumb impressions of the lessor and the lessee at a local government office. The process normally does not take more than 15 minutes. However, if the systems are down, then it will take FOREVER.
Once the process is finished the government office keeps the agreement with them for scanning and entering in their system. You will get a copy of the agreement once the scanning process is done, which normally takes anywhere from 30 minutes to 24 hours. Simultaneously, while the document is being registered, the broker should get the police verification done. Police verification is a single page with photographs submitted to the local police station informing them the location that has been leased out, landlord and renters information and contact numbers along with the brokers information. In case of foreign passport holders, they might ask to come to the police station to ensure the details. The Police are strict in this matter since it’s their reputation and safety of the foreign national that is at stake.
9. Moving in
The agreement is done, the registration is finished and you have also been verified by the Police. The next step is moving in. For foreign nationals, you are now free to get your boxes out of storage or if it’s been cleared by customs then to get it delivered. The moving process has to be done during the day time. It is necessary to clear the moving hours with the co-op. You also have to ensure that you can use the elevator. It shouldn’t cause a lot of nuisance to the residents.
10. Setting up the Apartment
Set up the apartment as you like it. Put your furniture and clothes willy-nilly. Don’t forget to get a natural gas connection. There are gas cylinders delivered to you twice a month in case the building complex does not have a gas pipeline. There are fees and security deposit involved in getting them. Additionally, your lease agreement is needed to ensure that this is your residence. You will need to get a local cell phone to connect to people. It is cheaper to have a cell phone than a land line. You should be all set then. And if there is something that you need assistant with, you should always be able to call up and rely on your broker.
Hopefully this will prepare you for the pain that you hopefully might not experience in getting an apartment. If you do experience it then at least you will be prepared to take your precautionary pill for reducing stress in your apartment search. Happy Hunting!