Model Act/Things regarding the Model Act that all landlords and tenants should be aware of/ Best law firm in Coimbatore/ Best advocates in Coimbatore/Best law service in Coimbatore/ Best legal consultation in Coimbatore/ Best legal services in Coimbatore/ Best lawyers in Coimbatore/ Online legal consultation. The new draft Model Tenancy Act, 2019 aims at capping security deposits at two months’ rental in the case of housing and one month’s rental for any other property. Nonetheless, however well-intended, this ceiling may harm landlords, particularly in cities where typically hefty security deposits are the norm. A security deposit of two-month would be insufficient for compensating the landlord if the property has been damaged majorly. Under The Act, recalcitrant tenants are penalized for declining to move out of their rental properties after the expiry of the rental period. In such a situation the landlord would be able to claim compensation which would be double the monthly rent for two months and four times the monthly rent thereafter. Property owners fearing tenants staying put in their properties which is deemed risky to let out properties can now breathe easy because of the Act. The Act specifically mentions that the landlord cannot deny a tenant essential utilities and accessing common facilities which have been the tenant’s common grouse in the past. The landlord cannot increase the rental without notice of at least three months to the tenant, and also is not permitted to increase rent midway through a rental term. Once this Model Act becomes effective, letting would cease and on the flip side taking to rent any premises except by an agreement in writing. No later than 2 months after the performance of the rental agreement, it would be compulsory for landlords and tenants alike to inform the Rent Authority about the tenancy agreement. Within a week the Rental Authority would roll out a unique identification number to both parties. Once the Model Act commences, a tenant without the prior written consent of the landowner would be constrained to sublet the entire or part of the premises occupied by him, or optionally transfer or assign tenancy agreement rights wholly or partly. The landlord-tenant agreement terms would devolve to their successors who would have equal rights and obligations according to the tenancy agreement, for the unused tenancy period. It should be noted that there would not be any impact or effect on current tenancies as the Draft Model Tenancy Act would be effective prospectively. At Saanvika Legal Associate, other laws cases like business law, financial law, insurance law, environment law, consumer law, property law, banking, tax, cyber, labor, constitutional, legal registration, nocs, litigations, criminal, family law, and so on are provided. All kinds of Law services are offered by experienced lawyers that result in the success of your cases in every way possible.