What to keep in mind when choosing a rental house:
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22 November 2018 - 10:00, by , in Property Trends, No comments

Are you looking for a rental residence in the urban cities? We list the factors that considered renters should consider, before settling a deal.

Affordability is a significant factor, for people who are searching for a rental house in the metropolitan city. Besides the rental amount, parking charges, maintenance costs, etc., also impact the overall expenses. At the same time, a house that is well-constructed & designed & offers excellent facilities can provide a healthy living experience. So how does one hit the right balance? Rental home seekers should choose a location, based on 3-4 issues, to maintain a balance.

Proximity to one’s workplace so that your commuting time is limited, right social infrastructure such as hospitals & education institutes & entertainment centres so that your family has the stuff to do in the radius around your house, are some critical factors that home seekers should look for, to lead a holistic lifestyle.

Keeping Rentals Affordable

Specialists point out that many properties come with amenities like club, swimming pool, gym, parking space, etc., which the owner is authorised to. However, these claims do not transfer to the licensee, unless a clause is inserted in the agreement, specifying that such incidental facilities and associated amenities will be accessible by the tenant.

New houses in metro cities, come integrated with amenities like gymnasium, reserved parking, security surveillance, children’s play area, badminton court, clubhouse, swimming pool, among others. Also, there are various options available in market, from low budget to high budget. So, tenants can now choose from a variety of properties. Nevertheless, while many housing complexes offer such luxurious amenities, tenants should only consider these, if it fits within their accounts.

Things to be Aware Of, while Searching for a Rental House in City

While selecting a home, first check the rental rates in those areas. Find out if the locations you are interested in, have the sort of properties you want at prices that you can afford. The crucial points to remember, while looking  for a rental home within affordable range in the metropolitan region are:

  • Location of the property: Factors such as connectivity (road/rail transport), social infrastructure & proximity to employment hubs, determine the livability of an area.
  • Credentials of the developer & owner: Perform a thorough background check of the developer, i.e. the number of projects he has completed, the quality of construction and delivery timelines.
  • Rent: Make sure that the rental amount is within your budget & also find out if the rent being asked for, is justified & as per the current market rate.
  • Lease Agreement: Pay considerable attention to the lease agreement, as it holds all the terms & conditions & legal clauses & implications, for each party involved.

Besides checking the property, one should also check the community & contact local brokers to gain erudition about the location & property. Last but not the least, consider the brokerage amount, deposit amount, maintenance charges, water and power supply in the area, tenure, possession & clauses in the rental agreement with landlord.

 

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