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MSo here is a quick update first
1. Dad bought a shop a while back before passing away
2. He registered it in my name and we got rental income that ran our household expenses
3. I had no say on how much the rent was supposed to be
4. A relative adviced him the tenant and rent of 7500 for 300 sq ft shop (which was a lie and I got to know this 5 years later)
5. My shop is on the lower basement and it’s 7500 for rent. The shops above it and around it are 15000 for same size. We were cheated and the relative took half of the money.Now, I want to make a new rent agreement, get better rental and if the tenant disagrees to pay said rent amount, I want to have him evacute.
Can I make a new agreement of 15k rent from current 7.5k? Last rent agreement was made for the period of May 2020 to May 2021
Rent originally was 6500 on the agreement and 5 years later it’s 7500, WTH. -
PFor LGF i guess rent should be atleast 10000 but cannot be 15K. You first give the tenant atleast 3 months notice to vacate..tell him that you want it for yourself. If he does not shift OT offers to pay higher tell him the market rent and then ask him to get ready to sign a 11 months rent agreement. Collect his KYC docs and if need be get police verification forms also filled up and ask him to pay by Bank Transfer or UPI. This way you make it fully legit and secure yourself.
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