OCCUPATION DATES AND RENTAL - DON'T LEAVE IT OPEN FOR LATER NEGOTIATION
Category Property Advice
Always write down the occupation date and the occupational rent (the rent paid if someone moves in before registration) in the sale agreement, not later.
At this stage, both parties are still negotiating fairly. If you leave it out, one party may later take advantage of the other.
For example:
If the Purchaser needs to move in urgently, and the rental amount wasn't agreed in writing, the Seller might charge an unreasonable rental amount.
Or, if the Seller needs to stay longer, the Purchaser might demand a high rental or push for early occupation.
To avoid conflict, set the rental amount upfront, and make sure it is market-related and fair to both parties.
Author: OYSTER
