LANDLORD RENEWAL POLICY

If the end of the tenancy is approaching and you want to decide whether to sign another fixed-term agreement with your tenant or tell your tenant that he will have to move out at the end of the contract or is you wish to renew at new lease terms we at Aristo make it easy for you.


  • 10 days before start of notice period (before end of term) a reminder will be send to inform tenant about the end of agreement along with form 40/40A to let us know his intent to continue or vacate.
  • If in case tenant wishes to continue he will submit to us form 40.
  • In case tenant does not intend to continue than he will submit to us form 40A.
  • We will share the information with you as soon as we receive the forms duly filled by the tenant.
  • The Forms duly filled by Tenants have to reach us at least 3 days before start of notice period.
  • Incase tenant wishes to vacate and he informs us after the start of notice period than the no of days delay is to be factored in while refunding the deposit money.
  • If the client does not respond to our reminder and does not inform if he would like to vacate or continue than we require your permission to start showing the apartment to other prospective clients.
  • As soon as you receive form 40 indicating the client interest to continue you will in turn share your approval by filling Form 40B showing intent to continue with the tenant along with details of the new rental term.
  • If you do not wish to continue with the tenant than we suggest you ask us for form 40C and submit to us. Please send it at start of notice period so we can ask the tenant to accordingly start looking for alternative accommodation.
  • On renewal of the rental agreement agent fees of 15 days rent will be applicable to be paid on date of registration or start date of agreement whichever is first against submission of the invoice copy.

 

OUR SERVICES


  • By ensuring that the tenant informs us in advance of their intention not to continue the lease we accordingly start seeking prospective tenants for you.
  • We assist you to renegotiate rent and other terms with the tenant at the end of the current term.
  • We keep you updated about current ongoing rentals in to help you take an informed decision.
  • Once the renewal terms are finalized, Aristo will take care of entire documentation that will include drafting and execution of the new Rent Agreement, stamping registration, police verification and society no objection.

 

OUR CHARGES


  • We charge only 15 days of Rent irrespective of the period of the renewed Agreement.
  • We offer the same level of service that you would expect when you sign a first time lease.
  • By utilizing agent services you can be rest assured that you have the agent by you side throughout the tenure. Most property owners do not stay in the vicinity of their rented property or may not have the time to attend complaints or follow up with the client regarding issues related to apartment or rent payments and it can be a daunting task to handle it all by yourself .

Commission / Brokerage Charges Payable by You to us for all types of Properties Transactions  

 For Property Owners / Landlords

Brokerage Equivalent to One Month(30 days) Rent .

Brokerage on Rent renewal

For licensor / landlord brokerage Equivalent to Half Month(15 days) Rent + GST at rates prevailing.

Property Management Services

10% of yearly rent + GST at rates prevailing

18 % GST is applicable on all the above brokerages, w.e.f. 01-07-2018.