It was raining outside.
Today three college students came and called me. One guy asked, “Sir, can you give me the receipt for paying the token advance?”
Me, “Receipt? What receipt are you asking for?”
Guy: “I paid a token advance to book the house for that one.”
For your information, this guy paid a token advance a few weeks before itself. Now, all of a sudden, came again to ask for a receipt.
I informed him we don’t give any such receipts. You paid through UPI, so transaction details are available in the app.
I also confirmed the token advance received in a WhatsApp text message. You can check once.
That should be fine.
To which the guy replied, let me check… “Ya. I have those messages. Ok sir”
I asked, “Why suddenly asking for a receipt?”
I had an issue with the PG guy, so I’m asking for it to avoid the same issue here.
Now I remembered why this guy was asking for a receipt.
Don’t worry. I have confirmed payment details in a WhatsApp text message. Keep those. Moreover, once we give the house, we will make a written agreement that contains all the payment details.
The student felt somewhat relieved after listening to my words.
He waited until the rain stops and left for his PG with his friends.
This type of issue is common in my area.
Most of the students join PG by giving Advance. Some PG owners play games when students planned to vacate the PG.
I have one such student who is staying in our building. He told me once he lost 15,000rs from one PG owner.
Now that the PG owner blocked this guy’s number to avoid communication with this guy. This student kept quiet from asking for his advance to avoid problems with the PG owner.
He is an outsider… so he doesn’t want any trouble from the local guy.
I guess the upcoming receipt tenant story is similar to this guy’s.
When the student was ready to vacate, the PG owner created some issue with the advance amount. When he realised his mistake, he came here to avoid the same issue in future.
That’s why it is very important to have proper written communication to avoid such disputes.
In our rental property, all new tenants get detailed written rental agreements. Having such a proper agreement helps avoid disputes at the end stage.
Similarly, When you start house construction, ensure a proper agreement with contractors.
It should include all the important things in writing so both don’t get disputes when issues arise.
After dealing with two different building contractors in our building, I learned a few things about framing a good building contractor agreement.
I have explained all those important topics in my Building Contractor Guide. However, after receiving a few requests from my buyers for an agreement template, I recently decided to create a Building Contractor Labor Agreement Template.
This detailed template comes in a Word document, which you can easily modify according to your house construction requirements.
This agreement template is designed for house construction owners to safeguard from potential issues that few contractors make during construction.
Most new users won’t know the issues they face from their building contractor when they start.
Once the project starts, they will realise their mistakes when they face issues with their contractors.
To prevent Most such issues, having a proper agreement helps.
If you plan to build a house using a labour contract method, here is my recommended building contractor agreement template.