mid day editorial: Rent out in haste, repent at leisure

Real estate is gold and gold is real estate in Mumbai. In a city where space is at such a premium, there should be little surprise that most scams and battles are over land, homes, offices and retail spaces.

This paper ran a front page report about a family that, when looking for tenants for their home online, chanced upon a couple who wanted to rent their home. Unfortunately for them, they handed over the keys to the couple just a day before the agreement was to be signed. On the day of the signing, the couple who were now staying in the family's home, dilly dallied over the agreement and months rolled by, with them even stopping rent payments. The distraught family is now living with the frightening thought of spending time and money approaching the court to get their home back.

Those who wish to rent out their homes need to do thorough background checks of the individuals they will be entrusting their homes to. Ideally, one should get a well-known professional broker as a middleman because they, too, can be held responsible in case something goes wrong. Most of all, one must insist on the agreement being signed before anything. Then, comply with the rule for police verification, where details about the tenants have to be submitted to the local police station.

Most of all, one should not trust anybody or let them sweet talk themselves into moving into the house before the papers are signed and one must have everything down in black and white. One simply cannot afford to let one's guard down.

These squatters are often part of gangs that prey on people looking for tenants. They have a well-oiled machinery for chicanery and are experts at slipping into homes. Citizens must not be inveigled by their supposed pleas and exhortations to let them move in. Rent out with all caution lights ablaze.

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