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Renting an apartment? Things to keep in mind

Renting An Apartment? Things To Keep In Mind

Renting an apartment whether you are a bachelor and has moved to a new city for work or just got married and can’t afford to buy your first home yet, is an important decision.

There are a lot you should consider before you choose your pad but then renting an apartment is relatively less risky a decision given the fact that you can move out at any point in case anything goes seriously wrong.

We would try to help you with a few simple yet valuable suggestions about house renting

  • 1. Location: Choosing the right location is as important when you are renting a place as when you are buying one. After all, you would like to stay closer to your workplace or the metro station/railway station or may be to the happening part of the town! This becomes even more crucial if you are a girl and are thinking of staying alone in which case safety should be the first thing you consider while choosing a location. But if you are flexible about the location then you will have more options and a wider range of budgets
  • 2. Rent & Tenure: Next you should consider is the amount you are willing and able to pay each month in rental fees. You must plan your monthly/yearly finance properly and decide the maximum amount you can spend for rent. 
    Our suggestion would be you shouldn’t go for a long tenure and ideally should go for 11 months which is a general practice. Though you can save money at the renewal stage if you go for longer tenure but a shorter tenure may be beneficial if you don’t like the place or the landlord. You can always request for a renewal if you did.
  • 3. Avoid over eager landlord or agent: Sometimes the landlord just might actually be eager, but if smell the coffee if he or the agent he hired looks too eager to take you on board! Double-check with locals or a neighbor (sometimes the local vendors like panwala, delivery boy work well) before you sign the agreement
  • 4. Paperwork: Lease and license agreement is an accepted address-proof document and is going to be really helpful in case of bank transactions/official processes. Don’t compromise on this one and do insist for a valid registration process. You can save time by doing it online as well (in cities like Mumbai)
  • 5. Check fittings: Check all faucets, flush, electrical gadgets/connections, closed drawers, cupboards etc. if you are moving into a furnished/semi-furnished house. Also, insist on getting the faulty things repaired before you move in. You may get shocked to know that majority of the agents and not-so-well-meaning landlords won’t give much damn once you move in! So, get them done beforehand
  • Recce: Do a proper recce before moving in. Especially if you are alone or are moving in with a female partner. The best way is to do a night visit and see how the locality/society building looks like during night time. Check for nearby police stations, hospitals etc. and keep the emergency numbers handy. 
    Staying in a rented place has its pros and cons. It totally depends on your personal preferences and priorities whether you want invest in a property or no, till then plan a bit and enjoy staying in a rented place, worryfree.

Authored by Editorial


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