Tips to find Perfect Rental Homes

Rental homes

Everybody knows that in India there are more tenants than the number of landlords and that’s why the tenants always have to face the itch if they are staying in rental homes. Renting a house can prove to be beneficial for both the parties. By renting out the property, one can generate a considerable amount of income.

One must consider the following points before one takes his final decision on a flat or renting out a house. Otherwise your cruel landlords may make your life miserable. It may also disturb your personal life if all the basic amenities are far away from your rental locality.

1. Prioritize  your Requirements

First of all one must decide upon the basic requirement looking at the budget and the property rates in that city. One must decide whether he wants a flat, house, studio apartment or just a living room.

Secondly, he must decide whether he wants a furnished or a unfurnished flat. The number of bedrooms, bathrooms, and floor numbers are other points to be considered before you finalize your rental homes.

2. Stick to your Budget

Most of the times this happens with Indian families, when a person sees flat within his range, he may or may not like that, but normally your broker or agent would tempt you by showing rental homes which are beyond your budget. Don’t get tempted by looking at good locations and ending up renting out at a accommodation which is beyond your limit.

 3. Finalize your Location

Location is the most important factor of consideration. Let’s talk about a real time example. A house having plush interiors, new construction would not hold good, until and unless you have your child’s  school, hospital, own office, wife’s office within 5 kms of reach, though this is not the benchmark.

4. Research of Finding a House

The best partner in finding a house can be none else but your wife or your family as you can plan out yourself needs with her. Find out a genuine broker in your locality after verifying his identity from the nearby residents. Newspapers like Times of India can be the other good option as you will find a list of agents or the property rates in the property section of the newspaper.

You can also have a look at various property rental websites such as, etc. These websites are scattered with loads of rental options and you can get in touch with various brokers as well as owners of the property.

There are various properties which also have pictures and a virtual tour, this helps in giving you an idea of the property. Other than websites there are various classified as well as forums which are dedicated to renting houses and may provide you with valuable information. An important fact to consider while going through the forums is that you should not be biased with the forums as there might be mixed feelings.

5 . Hire a Broker

Hiring a property agent or a broker makes things simpler. If you are in hurry and are willing to pay the fees to the agent, then brokers can line up a few rental homes and you can make your choice. Broker is a person who acts as a link between the landlord and the potential tenant.

He not only helps in doing all the administrative documentation but also understands the parties need and tries to match the same. While dealing with a broker you do not have to worry about whether the property is genuine of not as everything is in black and white and a police check is conducted before moving into a house.

A broker makes sure that both the parties are genuine and all legal work is taken care of. The fees which is charged by the broker differs from region to region. Normally the property dealers charge 15-30 days of rent which is commanded by the property and is paid in advance.

6 . Wait Till Winter

Not many people think about this, but if observed there are months when the property market is lean, such as the winter season when people normally delay to move. Rental homes are cheaper in winter. If you are not in dire straits to move then you could postpone moving during the winters when the property market is lean and try to cash on this opportunity.

Conclusion – Rental Homes

The final tip while considering rental homes is, to clear all the doubts/questions you may have in mind. Make things clear by getting answers to your questions from the landlord and the property agent.

Try to do a company lease. This not only secures the agreement but can also help you get several tax benefits. Read the rental lease carefully before getting into an agreement, as most of the times it is a irrevocable document.

About the Author

Vaibhav Sangli is an MBA Finance who loves to write on several topics including insurance and mutual funds and finding out different ways to earn and spend money.

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