Things to Keep in Mind While Going for Affordable Rental Housing
Jun 14, 2018 Home Trading Steps
If you are looking for a rental house then you need to be careful and remember certain factors before closing the deal. Factors such as affordability come first in terms of rental amount, them maintenance cost, parking charges among others. Also, a well constructed and well maintained house combined with all amenities offers a good living experience. But how to strike the right balance between affordability and a comfortable lifestyle.
Location plays a crucial role in striking the balance between both the factors. For instance, if your home is close to your work place then the commuting time will be less, you will get to spend more time with your family and you will also save quite a bit. Then amenities like markets, hospitals, entertainment joints, educational institutes also play an important role in a holistic lifestyle. Hence factors like availability of means of transport, accessibility to various areas, infrastructure developments and closeness to corporate hubs determine the liveability factor of a locality.
Nowadays housing societies come with several luxurious amenities like gymnasium, swimming pool, club house, badminton court, kid’s play area which does not come for free and could be expensive for the tenant. But tenants should only consider these luxurious amenities if it fits their budget. Otherwise, there is no point in wasting money on such amenities which are not required and could be avoided. They can search for many other rental options that are available in the market from a high budget to a low budget.
Then while searching for a rental accommodation, the tenant should first check the ongoing rental rates in the respective location, so that no one can make fool of you by charging a higher amount. Also if you know the ongoing rental rates in a particular location you will be able to judge that whether that location suits your budget or not. So look for those areas which come within your budget and then start looking for properties accordingly that are affordable for you.
Summing up everything it is important that the tenant is well aware and do a thorough research about what he wants. Do check the credentials of the developer and owner to see their reputation in the market. Make sure that the rental is within your budget along with being at par with the current market rates in that area. While making the rent agreement, make sure you pay attention to all the legal clause, terms and conditions.
Also check the property, neighbourhood or get in touch local brokers to know about the property and location before moving into the rented house. In addition, the tenant should also consider the security charges, brokerage fees, power and water supply, maintenance charges, rental tenure as well as clauses in the agreement.
Location plays a crucial role in striking the balance between both the factors. For instance, if your home is close to your work place then the commuting time will be less, you will get to spend more time with your family and you will also save quite a bit. Then amenities like markets, hospitals, entertainment joints, educational institutes also play an important role in a holistic lifestyle. Hence factors like availability of means of transport, accessibility to various areas, infrastructure developments and closeness to corporate hubs determine the liveability factor of a locality.
Nowadays housing societies come with several luxurious amenities like gymnasium, swimming pool, club house, badminton court, kid’s play area which does not come for free and could be expensive for the tenant. But tenants should only consider these luxurious amenities if it fits their budget. Otherwise, there is no point in wasting money on such amenities which are not required and could be avoided. They can search for many other rental options that are available in the market from a high budget to a low budget.
Then while searching for a rental accommodation, the tenant should first check the ongoing rental rates in the respective location, so that no one can make fool of you by charging a higher amount. Also if you know the ongoing rental rates in a particular location you will be able to judge that whether that location suits your budget or not. So look for those areas which come within your budget and then start looking for properties accordingly that are affordable for you.
Summing up everything it is important that the tenant is well aware and do a thorough research about what he wants. Do check the credentials of the developer and owner to see their reputation in the market. Make sure that the rental is within your budget along with being at par with the current market rates in that area. While making the rent agreement, make sure you pay attention to all the legal clause, terms and conditions.
Also check the property, neighbourhood or get in touch local brokers to know about the property and location before moving into the rented house. In addition, the tenant should also consider the security charges, brokerage fees, power and water supply, maintenance charges, rental tenure as well as clauses in the agreement.
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