Shahid Balwa Speaks: Looking forward to sharing a rented accommodation? Take note of these

by Shruti Sharma Content Curator

There is no denying the fact that living alone in a rented house, that too in metropolitan cities, is not easy. People often migrate to metropolitan cities like Delhi and Mumbai for numerous reasons, predominantly better career opportunities and higher studies. The unfortunate part, however, remains the high rental rates. People who can’t afford such high rentals are left with no option but to share the rented accommodation with other people, at times strangers, and save a good amount of money. One of the most economical options i.e. shared accommodation, however, doesn’t always come with perks as also suggested by prominent real estate developers like Shahid Balwa of DB Realty.

There are various aspects which need to be evaluated before one starts living in shared accommodation. Have a look:

· It’s economical: Living on a sharing-basis is, undoubtedly, economical. When one lives with flatmates, personal expenditure gets reduced automatically. The reason is obvious, people living together in the same house share all the expenditure incurred on a monthly basis, be it water, electricity, or grocery. At times, flatmates even open a common bank account to help facilitate the daily expenditure.

Even a lot of landlords prefer such tenants over families.

· It’s more than just economical: Living in a shared accommodation with people from different walks of life may give you valuable life-lessons as well as experiences which can’t be learnt/ experienced otherwise. However, some ground rules must be laid in advance in order to make it an experience worth remembering. Here are some of them:

1. It’s important to be honest about yourself and your work/job.

2. Do not sit quiet if you something is disturbing your peace of mind. Be communicative, regardless of how small or big the issue at hand is.

3. Create boundaries.

· Legal agreement: When a legal agreement is prepared for the shared accommodation, technically names of all the tenants must be mentioned there. However, a lot of landlords prefer having the name of just one person as it becomes easy for them to be in contact with that person only, in case, any issue shows up.

As tenants, you must ask your landlord to make an agreement with the names of all the tenants. The same is stressed enough by Shahid Balwa director of DB Realty