What should I do if someone backed out from taking my rented flat at the end moment? The flat is in Bangalore and I have the token amount with me.

 Token advance is one of the ways to freeze deal. A promissory payment

In question, you haven’t specified the figure of token advance and duration of time between token amount receipt and promised date of possession by tenant.

We presume that you received the token advance of less than one-month rent and time duration pro-rates the token advance.

For example, Finalised rent is Rs.20K per month. You received the token advance of Rs. 10K on 1st day of month and promised possession date is 15th of month.

If you haven’t heard anything from tenant even after the 15th day of month. On the goodwill gesture, call and check the status from tenant.

If the deal is called-off by tenant, you could restore the token advance for incurring collateral damage of rental loss. Which is Rs. 10K for 15 days and Rs. 20K for 30 days. (On pro-rated)

Your loss is not just limited to15 days of tenant possession. you may lose rent for another 15–30 days till you find another replacement.

We provide tenancy renovation and rental agreement service in Bangalore at an affordable cost. Tenancy renovation includes painting & cleaning. Please write to us pgnproperties@gmail.com or Whatsapp +91–9742479020.

PGN Property management, Bangalore.

Location: Bengaluru, Karnataka, India

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