Is permission required?
If it is an apartment, permission of the society is needed. Some housing societies insist that the licensee (the person you have leased your apartment to) becomes a nominal member of the society. It is not as frightful as it sounds. Unlike an ordinary member, the nominal member has no voting rights, is not eligible to become a committee member and cannot be appointed as a society representative. So what’s the logic? In case he decides to play tough and refuses to vacate, apart from the apartment owner filing a suit, the society can also do so in the co-operative court. If it is a company, then suits can be filed under the Companies Act. Getting your money’s worth The most lucrative deals can be got by letting out your apartment to a company looking for residential space for its employees. If you are lucky enough to own an apartment in a building used for commercial purposes or situated in a commercial area, then you can offer it for office space. However, corporates are extremely finic
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