Giving ancestral home on rent

POSTED BY Ram ON March 16, 2011 2:51 pm COMMENTS (2)

We are planning to give out our ancestral home on rent. Since we have no experience in this and have never dealt with the intricacies of renting out a house, could you all please provide your inputs on what all to keep in mind regarding legalities/paperwork and any other angle that we might have overlooked?

One thing that comes to my mind right now is that contractual clauses should ensure that tenants do not poach the house later (not sure how that works but have heard about it).

All inputs are appreciated.

Thanks,

Ram.

2 replies on this article “Giving ancestral home on rent”

  1. Manish Chauhan says:
    March 18, 2011 at 9:22 am

    Ram

    I would recommened that you should make a proper rent agreement which is registered and not a local kaccha rent agreement which just have a notary sign and stamp on it . Also more than legalities make sure the people you are giving your house on rent are trustworthy and good people .

    Meet a good lawyer incase the house is located in a big city and has good worth

    What is the reason of giving the house on rent ? Can you give more idea ?

    Manish

    Reply
    1. Ram says:
      March 18, 2011 at 12:16 pm

      Manish,

      Thanks for your reply. The reason is just to generate additional income. We will be shifting to another city soon and so it makes sense to rent out this one.

      Regards,
      Ram.

      Reply

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