Hi Redditors,
For context, my father owned multiple properties in Mumbai and Navi Mumbai. He always had long term tenants. He passed away in Feb and we are three sisters with small kids who never handled anything related to property be it commercial or residential.
Now the legal heir certificate and succession certificate will take time to be made. So I have a few questions listed below:
1. Whose name will be there on renewal of rental agreements as heirship certificate will take time
2. Is it safe to renew 3 years rental contracts or 11 months ?
3. How to safeguard ourselves from long term tenants 12+ years tenants (My dad trusted this tenant)
4. Do commercial tenants require pan card of landlord for some tax work ?
5. In general is it safe to keep tenants for long term if we do not face any issues with them. Can they do anything behind our back that can harm us?
4. First contract was made via nobroker so should we go ahead and renew through no broker only ? Is it safe ?