10 important things before signing a serviced apartment lease
Currently, the serviced apartment rental market in District 3 Ho Chi Minh city is very excited due to the increasing demand of people who lives in Saigon for business, traveling, or studying. So, when making the serviced apartment leasing agreement, what we need to pay attention to?
Here, SILA Urban Living will reveal 10 noted things that you need to remember when making a contract, please follow us!
1/ Provide exactly personal information
Before preparing a serviced apartment leasing agreement, the lessor and the lessee must provide all specific and accurate personal information. It helps both sides to ensure all their rights if a dispute occurs.
2/ Verify ownership
Please ask the landlord to present the ownership certificate showing the right of using the apartment to make sure that this serviced apartment is not involved in a dispute or mortgage.
3/ Specific agreement about rental fee and other terms and conditions
In the leasing agreement, it is necessary to have full information about the rental price and other terms such as:
- How long is the lease term? (by months or years)
- How much is the rental fee, when is the payment timeline? Payment methods (by cash or by transfer). The money will need to exchange to VND because if you use foreign currency, by legal the rental contract will no longer be valid. It will cause a lot of problems for both sides in any disputes.
- If you stay for a long time, the contract also need to mention clearly about rental fee increase per year and how many percent it will be increase
- Make sure the rental fee including the management fee, waste disposal, parking, electricity, water or not? This will help you to stay away from contradictions.
4/ Deposit regulations
For serviced apartments in general, to be sure, the lessor will require the lessee a security deposit with one or two months of the rental fee. And when the contract will be expired, the security deposit will be refunded to customers if they do not want to renew the agreement.
However, there is some non-reputable serviced apartment that does not want to return or delay returning the deposit. Therefore, customers need to choose a reputable serviced apartment to stay.
5/ Early termination regulations
This is such a very important thing in every leasing agreement. If this term is not mentioned in the contract, many problems will happen in case one of the two sides individually want to terminate the contract earlier, that person will be responsible for the current regulations of the law.
6/ The expiry date of the contract
This term relates to the termination of the agreement that many people do not pay attention to. Therefore, when making the leasing contract, both sides (especially the tenant) need to pay attention to the following terms:
- How long the written notice is required if the lessee does not want to rent the serviced apartment while the contract is still valid?
- How long the advance notice is required if the lessor wants to terminate the contract earlier due to some reasons, then when the tenant will receive the deposit back?
7/ Terms for the interior of the serviced apartment
Every piece of furniture in the apartment must be listed completely in the leasing agreement. The current status of all furniture is required and signed by both sides. In case the interior is lost or damaged, the lessor has the right to request the lessee to compensate or repair it following the terms and condition that specified in the agreement.
8/ Special terms and conditions
In this article, you should clarify if the owner has any special rules, for example, allowed pets, smoke inside apartments, and cooking permission.
9/ Other appendixs in the agreement
These will show all details contents about some conditions like environmental hygiene and safety and security in the neighborhood.
10/ Notarization of the signed agreement
Currently, the law does not require that the lease contract notarized. Whatever, if the contract has the high valid and asks for a large deposit, ideally, both sides should have the endorsement of state agencies to ensure full legality if a dispute occurs.
All above, we have just shared 10 important things you should take note of when making the serviced apartment leasing agreement. Hope this information will be helpful for you.
Why you should rent SILA Urban Living’s apartment?
SILA Urban Living is located on 21 Ngo Thoi Nhiem Street, Vo Thi Sau Ward, District 3, Ho Chi Minh City. This is an ideal place where you won’t lose too much time to get to some tourist destinations, center malls, or other districts in Ho Chi Minh City.
Not just that, our serviced apartments in District 3 have fully equipped with all amenities which will help to satisfy all the essential needs of customers. For example, Two 40” LED Samsung TV with many international channels, a landline, safety deposit box, air conditioner, double bed, fridge, modern bathroom, towels 100% cotton and bed linen, tables, chairs, wall cabinet, cosmetic chemistry, hairdryer, washing machine, dryer in the laundry area. Specially, we also equipped a dining table, a cooking stove, an oven, a hood, a toaster to help you feel comfortable serving your family with your favorite food.
All of our apartments have a fire alarm system, smoke alarm, and RFID door lock system with magnetic access cards. Besides, that are 24/24 camera system, experienced and well-trained security team, ensuring absolute safety for customers.
If you are looking for a serviced apartment in district 3 in Ho Chi Minh City, please do not hesitate to contact the SILA Urban Living team for further assistance and the best quotation.
SILA Urban Living
Hotline: +84 28 39 300 800
Email: info@silaliving.com
Website: https://www.silaliving.com