We at LetzRent understand how challenging it can be to pick the right apartment/home to rent. So we have put together the ultimate guide on Tips for Picking the Perfect Rental Home/Apartment.
In the pre-COVID era, experts had estimated that by 2040, the Indian real estate market would increase in value from Rs 12,000 crore (US$ 1.72 billion) in 2019 to Rs 65,000 crore (US$ 9.30 billion). We anticipate that given the pandemic posing a threat to people’s jobs, and the adverse effects of the debt culture becoming evident; more and more individuals, as well as families, may move towards renting housing.
Today, rental housing seems attractive for it offers solace from the debt culture, maximizes flexibility – a characteristic particularly appealing to Millennials, and is more affordable. We at LetzRent understand how challenging it can be to pick the right apartment/home to rent. Indeed, it is a big decision and it may seem confusing to even know where to start searching! So we have put together the ultimate guide on Tips for Picking the Perfect Rental Home/Apartment.
- Minimize the distance between your rented accommodation and your workplace:
Ensure that the rented house/apartments you are considering are located close to your workplace/educational institute. This will enable you to cut down on your costs. These days especially, time is money! And choosing a living accommodation close to your workplace/educational institute can help you save a lot of time. A larger distance to your workplace/educational institute means a longer commute time has been linked to feeling drained, working fewer hours in the day, poorer quality health, and even disturbed sleep patterns. So to maximize your overall well being, it is advisable to choose a co-living space close to your workplace/educational institute.
- Check how well connected the accommodation is in terms of transport services:
If your accommodation is well connected to the rest of the city via easy access to public transport systems like the Metro services, Ola/Uber, or other ride-hailing applications, your comfort can be maximized. Imagine struggling every single day just to find transport to make it to work! To prevent this struggle, choose rented accommodations that offer easy access to transport services.
- What’s close by?:
What’s in the vicinity? Is there a market/mall close by? What about a salon or grocery store? These are all factors to take into consideration while narrowing in on the neighbourhood you are selecting your rented accommodation within.
- Be mindful of your lease terms:
Though this may seem obvious, one of the most common mistakes made while renting an apartment is to not thoroughly take into account the terms of the lease. Be sure to check on the lease tenure, how much the rent will increase by at the end of the tenure, security deposit, who will pay for large as well as smaller repairs, and so on.
- Degree of alterations allowed in the rented accommodation:
While you may desire to personalize your rented accommodation to make it more to your taste, some landlords may not be comfortable with alterations to their properties. We recommend talking to your landlord about such alterations at the time of screening itself and be clear on what kind of changes would be permitted.
- Go through an aggregator:
Aggregators match customers to the service providers best suited for their needs. By going through an aggregator, you can be assured of the best deals without compromising on quality!
- See the accommodation in person before signing any contracts:
Before you freeze in on any place and sign any contracts, do make sure to visit the rental accommodation and confirm that it has all the amenities and facilities you desire. Some characteristics of the accommodation may not be obvious in even pictures and may become evident when seen in person, however.
- Check out the power points:
These days, many of us consider gadgets as our second lifelines. Imagine having the perfect apartment but a lack of lighting or no access to your gadgets because the power points in your rented accommodation are not working properly or the earthing has not been done properly. We can only imagine how frustrating it could get! To avoid such frustration, please do check all power points before you sign any paperwork and take possession of the apartment/home.
- Ensure proper flooring:
We recommend ensuring that the flooring in the apartment is proper. This could mean that the floor is built of good quality materials, is not split/missing tiles, and so on. Cracks and missing tiles could be particularly hazardous for older individuals and present a tripping hazard.
- Don’t compromise on safety:
Certain aspects of the rented accommodation may make it more or less safe to live within. For instance, do mesh windows and doors have glass counterparts or grills outside them to keep out intruders? Asking questions such as these could mean the difference between feeling at ease or constantly being worried about your own safety and security.