Navigating the Controversy: Mortgage-Free Landlords and Rent Increases
In the intricate landscape of real estate, a contentious issue has emerged that challenges conventional expectationsโmortgage-free landlords choosing to escalate rents. This divergence from the norm has ignited a fervent debate within the housing market, prompting a closer examination of the dynamics between landlords and tenants, and the underlying factors influencing rental pricing in today's real estate climate.
The Mortgage-Free Advantage: Achieving a mortgage-free status is often considered a milestone in a landlord's financial journey. Typically, this accomplishment is associated with the prospect of providing stability to tenants through consistent or even reduced rental rates. Learn More
The Real Estate (Regulation and Development) Act, 2016 provides for establishing regulatory authorities at the state level to register residential real estate projects and seeks to regulate contracts between buyers and sellers in the real estate sector to ensure the sale of plots, apartments, or building, etc. in an efficient and transparent manner. It also proposes to ensure greater accountability towards consumers, and significantly reduce frauds and delays as also the current high transaction costs.
By imposing certain responsibilities on consumers and promoters, it attempts to balance the interests of both. It seeks to establish ease of information between the promoter and purchaser, a high level of transparency of contractual conditions, set minimum standards of accountability, and a fast-track dispute resolution mechanism. (Read More)
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