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difference between "rent" and "lease" options for letting out a residential property in Bangalore?
Hi, I recently constructed my own house in Bangalore, I intend to let out the ground floor for rental purpose. I understand that there are 2 options: 1. Normal rental: involves 10 months rent as security deposit and monthly rent payout. 2. Lease (long term): higher security deposit. Can someone please explain to me pros and cons of both options? How much is usually the lease deposit for 2nd option? Does the owner get any payments during the lease tenure? What happens at the end of lease tenure - how much of the deposit is returnable etc?
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