A friend of mine owns a house (2000+ sq ft individual house) in Chennai, and needs to rent it out for four to seven years. We were discussing the risks involved in renting the house out to individuals vs. renting out to a business for their office space, with regard to difficulty in getting a tenant to vacate.
I was of the opinion that businesses / offices will not have protections under the law, that individuals might possibly have. That is, there is probably some law that protects household renters, but not businesses / offices.
My friend was of the opinion that businesses / offices will not want to vacate a rented property, as they would not want to change their address after a few years. So my friend felt that the business / office might cause problems when the time comes for my friend to move back into the house.
What is your opinion, experience, etc, in the context of renting to households vs business/office. Thank you.
I was of the opinion that businesses / offices will not have protections under the law, that individuals might possibly have. That is, there is probably some law that protects household renters, but not businesses / offices.
My friend was of the opinion that businesses / offices will not want to vacate a rented property, as they would not want to change their address after a few years. So my friend felt that the business / office might cause problems when the time comes for my friend to move back into the house.
What is your opinion, experience, etc, in the context of renting to households vs business/office. Thank you.