Once a lease is signed, both the parties get obligated to abide by it for its duration. The tenant is responsible for making rental payments in a timely and consistent manner. The lease agreement is very specific in detailing the responsibilities of both parties during the lease and it includes all the necessary information to ensure that both parties are protected.
The length of the lease of the property and the amount of monthly rent are documented and cannot be changed. This ensures that the landlord cannot arbitrarily just raise the rent and the tenant cannot just leave the property whenever they want without repercussion.
A lease agreement is advantageous to a tenant because it locks in the rental amount and length of lease and cannot be changed even if property or rent values rise. The landlord cannot unilaterally end the lease or change the conditions without the tenant’s agreement. Thus, many tenants prefer to sign a longer term lease if the monthly rent is reasonable and in an area where rents are likely to increase during the term of the lease.
‘Madhavaram constructions’ have developed well embellished properties for leasing and renting purposes which offers tremendous financial benefits and modern facilities to our customers.