Renting an apartment is equally, if not more, difficult as buying a new house. There are so many things you can’t compromise on. If you overlook too many aspects, you might end up with a place that just doesn’t work for you. Here are 7 things to consider for tenants to understand their needs and figure out if an apartment is worth renting.
Renting an apartment that is affordable:
Having a general idea of your affordability can help you get a realistic sense of what you can pay. Utilities should be included into your monthly payment matrix, so ensure to ask the landlord or the broker on how much utilities cost on average for the housing society you’re interested in. You’ll have to make a note of which utilities will be covered by the owner and which ones will have to be borne by you.
Following are the utility bills you have to consider:
• Electricity
• Gas
• Water
• Garbage collection
Don’t forget to include your maintenance charges while making a detailed budget for your rent. Security deposit is one thing you must also plan beforehand, since most landlords and property managers require a deposit of at least 2 months equivalent of rental payment.
Type of property
When renting an apartment, you’ll find a good mix of properties. Some might be single-family landlord-run properties while some can be multi-family apartments run by property management companies.
In most cases, like that of small apartments and tenements, you’ll usually know your neighbors and may talk face-to-face with the apartment’s owners. In larger housing societies, you might not know many people and you’ll probably correspond with owners through a broker or a property management company.
Living a quiet and a peaceful life is important to many. Hence, you may want to take into consideration the potential noise in apartment complexes and housing societies with smaller open spaces.
Area – Square footage
While it’s always easy to drop in and take a look at the apartment, it’s not always feasible. In such cases, you can ask the landlord or broker if you can see a floor plan with square footage per room. This can come in handy especially if you’ll be sharing your living space with roommates and want to gauge the size of the bedrooms.
If you’re looking forward to renting an apartment in a bigger housing society, ask the property manager if you can take a look at different room configurations to find one that suits your needs.
If you’ll be moving in with your furniture, you may want to take measurements to help determine what size of rooms you’ll need. Maybe you can imagine your favorite piece of furniture in a certain living space, but better be safe than sorry.
Pet restrictions
It is fairly common to have pet restrictions on rental homes especially in India. If you have a pet, the first thing you should do is ask the landlord whether they allow pets. Some may impose stringent restrictions, while some may allow a pet if you pay a special pet fee. In 2021, 37% of tenants with at least one pet reported paying an upfront pet fee as a part of their security deposit.
Amenities and Facilities
Some amenities are non-negotiable these day. Non-negotiable commonly include modular kitchen, spacious balconies, geysers in colder climates, and many more. Some nice to have amenities like an AC, fridge or furniture might raise your rent. So it’s only wise to pay for things that you’ll actually use.
Make sure you address any accessibility needs you or your family might have. If you have elderly people living with you, a building with an elevator becomes an absolute essential.
Parking facility is one critical parameter that you need to pay attention to. It’s always better to have a designated area for parking your vehicle. If there is only common parking available, make sure you are comfortable with switching spots every now and then.
Public Transport
If you don’t have a personal vehicle and have college or work to attend, you might be drawn to easy commute options in the locality. Look up real-time traffic in the area during peak hours, the walking distance to the nearest bus stop and various modes of transportation available.
The difference between a 5 minutes walk and a 10 minutes walk can make all the difference when you are running late or tired on your way back.
Safety, Security, Light and the View
Urban housing societies often have good security systems in place. The area is under CCTV surveillance and every building is guarded over by a security personnel. Smaller one-off buildings may have varying levels of security. Some might be laid-back while others might have sophisticated smart lock systems. It really comes down to how important security is for your peace of mind.
When searching for a rental apartment, the size and structure of the rooms can be misleading. Perhaps it has the right amount of space and rooms, but if lacks natural illumination, the place doesn’t quite look great.
The idea of natural light or a view, and well ventilated rooms is important to many of us. If morning light and the evening sunset view is something that you can’t live without, you might want to ensure the apartment, you have your eyes on, offers you exactly what you want.
These are some essential factors that you must consider while you’re on the hunt for renting an apartment that is perfect for you.
Final Thoughts
Not only does Address India sell properties, but also helps tenants find a suitable place to rent. Check out Pacific Golf Estate and Pacific Hills for renting an apartment with Address India.