Renting a property in park view city can be a complicated process, especially when you do not know the rules of a rental agreement. So, choose the place where you want to live, the perfect property and write a good lease. These are the steps to rent a property without headaches. Remember that the document that formalizes the rights and duties of tenant and owner is based on Law No. 8,245 / 1991, also called the Tenancy Law.
Writing a good contract ensures that both the landlord and the tenant are protected, in addition to avoiding future disagreements. For this, some items cannot be excluded from the rental contract. For this, we prepared this article with the main points that need to be included in the document, in addition to answering some questions that may arise in the process.
First step: understand the rental agreement
The first step to avoid making a mistake in the rental contract is to understand how it works. Thus, it is a document that allows the tenant to live in a property for a specified time. Thus, it must contain the data of the lessor and lessee, in addition to relevant information about the property and the rights and obligations of the parties involved.
The data contained may vary depending on the real estate agent or lawyer who drafted the contract. This is because there are no rules for making this document, however, it is common to see in the rental contract:
- Tenant data;
- Lessor data;
- Property condition data;
- Deadline of the contract;
- Some rights and duties of the parties involved in the transaction.
- Rent, condominium and property tax.
How do rental guarantees work?
Some of the conditions when renting a property is to offer the landlord guarantees that the rent will be paid, and that in cases of default it will not result in a loss. The main guarantees are:
This is the most common type of guarantee. It is a third person, who owns his own property and offers it as a guarantee that the lessee will pay the rents properly. If the tenant does not comply with its obligations the guarantor will be charged instead and in some cases may even lose your property.
This option deals with a deposited amount, usually equivalent to three months of rent, serving as a guarantee if the tenant does not pay the rent. In case of default, this money is used as payment. When the tenant pays all rents on time, at the end of the contract the amount will be refunded.
Here we are talking about a contract with an insurance company. The amount is usually the total cost of the rent and can be paid in cash or monthly. It is paid by the tenant and as well as the security deposit, in cases of default the owner of the property receives the direct amount from the insurer.
How much to charge rent?
A very common question among homeowners is how much to charge for rent. Here, many factors are decisive such as location, state of conservation, available area, security, number of rooms and whether the apartment will be furnished or not . In addition, a broker can evaluate the property and, together with the landlord, define a value that meets their needs and expectations, still in line with the property offered.
If you do not have the support of a real estate company, it is possible to follow some steps to avoid making mistakes when defining the rent amount. The first is the property valuation. Normally, the rent value is calculated on a percentage of the property value and this percentage varies between 0.3% and 0.5%. This percentage has already varied around 1% of the value of the property, however, several market changes have reduced this value. Thus, if an apartment is valued at R $ 150 thousand, for example, its rent can vary between R $ 450.00 and R $ 750.00.
Then define the rental characteristics. That is, establish whether your property will be rented furnished or empty. This feature can mean 30% more than the amount charged. In addition, these developments tend to be rented more quickly than unfurnished properties.
In addition, research the values practiced in the region and evaluate the location. Researching the amounts charged in the region is a way to establish an average price for your rent. Always look for properties similar to yours, whether in footage or similar infrastructure and rely on the help of portals such as Casa MineiraImóveis for that.
Rental agreement questions and answers
As stated, a rental contract has many specifications and it is necessary to pay attention to each of the details. It must contain information about the agreed rental amount, in addition to the chosen guarantee, in addition to rental charges, readjustment index and even set a fine if any of the parties does not comply with their obligations. Still, some doubts may arise:
Who should pay the property tax?
According to the Tenancy Law, fees and taxes are the responsibility of the property owner. However, the law also provides for an agreement between the parties, which must be recorded in the document, in which it may be the tenant’s obligation to bear these accounts. This topic should be made very clear in the contract. If this happens, the value of the property tax together with the rent, divided up to 20 times.
When is it allowed to readjust the rent?
The Tenancy Law does not provide for a specific clause that defines the rent adjustment index. This must be defined in advance between lessor and lessee, establishing what value they will work with during the contract. The General Market Price Index (IGP-M) is the most widely practiced by the market.
In addition, the contract must mention the cases of rent revision. Unlike the readjustment, the rent review happens when changes occur in the property and impact the rent value.
Can a rental property be sold?
A rented property can be sold, but there are some rules that need to be followed. This is because, the owner must respect the Tenant’s Right of First Refusal. This means that before announcing the sale, the owner of the property must give notice and give the purchase option to the lessee first. If he is not interested, he must be given 90 days to leave the residence.
Is it possible to extend the rental agreement?
A rental agreement can be extended if it is in the lessor’s interest. Thus, it is possible to extend the contract by changing the date on the document for a period of 30 days or indefinite.
Can the lessee give up the property before the end of the contract?
As with most contracts, it is possible to withdraw from the rental agreement. In this way, the tenant can leave the property at any time. However, as in most transactions, the breach of contract provides for the payment of a severance fee which must be stipulated in the document. However, everything is possible to be negotiated between landlord and tenant so always try to establish a dialogue between the parties.
When the rental agreement expires
When a lease expires, there are two possibilities. Either it goes into effect for an indefinite period, or the owner can make a request for the property to be repossessed. Therefore, an agreement between tenant and landlord is very important to make an addition or a new document, renewing the obligations between the parties.
If the rental agreement is not renewed, the landlord can request the resumption of residence, and the tenant has 30 days after the request to make the change or be evicted for what we call an empty complaint. Therefore, it is very important to have a reliable real estate company, with competent professionals who will assist you when writing a good contract. Casa MineiraImóveis has years of experience and a good reputation in the market and can help you from the moment to find the ideal property until signing contracts.