Important tips to keep in mind while renting a house or flat
CHECKING AND UNDERSTANDING THE LEASE TENURE, THE PERCENTAGE INCREASE IN RENTALS AT THE END OF TENURE, SECURITY DEPOSIT AND THE STANDARD DEDUCTIONS ON VACATING THE PROPERTY, IS IMPORTANT. THESE MAY VARY AS PER PROPERTY LOCATION AND LANDLORD’S PREFERENCES
NEWDELHI: Selecting a new apartment to rest can be a task. It’s essential to prioritise your list of features and amenities, avoid fly-by night brokers. But that’s not all. Pallav Pandey, CEO and Co-founder at FastFox.com, and Gautam Thapar, CEO of Thapar Builders Pvt Ltd, have listed a few tips to make your search easier and efficient:
* Check property pictures: Always insist on checking property pictures carefully to shortlist the ones you want to visit physically.
Home-seekers who do not shortlist are likely to end up in wild goose chase and end up visiting a bunch of irrelevant options which do not suit their profile but are hard sold by the brokers.
* Fix your priorities and areas of negotiation: It is almost impossible to find a house that ticks all the boxes according to your needs, tastes, preferences and budget. Therefore, it is important to prioritise your list of features and amenities.
* Deal with a professional agent: Moonlighting agents or fly-by night brokers should be avoided completely as their behaviour changes drastically once a deal has been locked. Opt for a professional agent who you trust will keep their commitments.
It is best to deal with professional companies that value your experience. Alternatively, at least independently investigate about the dealer’s credentials by consulting people nearby or ask for references of previous clients handled.
* Sell your profile to homeowners: Homeowners are usually sensitive to who they rent their house to, in order to avoid any complications later. So, every homeowner seeks a tenant with a regular source of income and benevolent credentials.
* Easy accessibility: Probably the first thing that someone looks for while leasing a home is its ease of accessibility. The connectivity from home to work and the different public transport modes and accessibility to nearby markets, schools, colleges and hospitals are also very important should be available.
* Understanding of lease terms: Checking and understanding the lease tenure, the percentage increase in rentals at the end of tenure, security deposit and the standard deductions on vacating the property, is important.
These may vary as per property location and landlord’s personal preferences.
The condition of the apartment and who will pay for the major repairs and maintenance is necessary.
While you can take care of the minor repairs, the major repairs might move your budget adversely. It is important asking if these major overhauls shall be paid by the landlord or you and decide accordingly. One should know the maintenance policy and monthly maintenance charges associated with the property.
* Mode of paying rent: You might like to transfer the monthly rentals online, but your landlord might prefer to receive a cheque or cash at the end of every month. Clarify the mode of payment and see that it is convenient for both parties.
* Alteration in existing decor: Some landlords may or may not like you to alter the existing decor of the home and add a personal touch. In any case, it is always better to know beforehand. It is important to know the amenities or the facilities available in case of a group housing society and respective charges.
Always insist on checking property pictures carefully to shortlist the ones you want to visit physically.