TOP # 13 Things To Consider Before You Rent In Karol Bagh Area

by Nishu Oberoi Web Consultant

There are many things to consider before renting a Property A tenant must get to know the surroundings of the Area willing to take on Rent the proximities of School, Hospitals, Security, etc we will discuss here Top 13 most important things to be kept in mind before you sign the Rent Deed.

Get To The Area

Always Make Sure that you are familiar with the Area which you have chosen as your next destination for Renting as you will be living in it take a good look if the place is Noisy or Not are their any Pubs/Restaurants operational in the surroundings.

Reach Out To Neighbours

Get to meet up with neighbors and share a good rapport with them as they will be honest mostly about any problems faced in the area which they can share with you before you sign.

Ask The Landlord To Repaint Walls

Yes not many landlords in the Karol Bagh area will repaint the walls or flat for tenants but it do not break the bank in simply asking who knows it might be your lucky day with the freshly painted house it energizes the environment.

Find Out Money To be Paid

You must know how much money is to be paid in advance like the Security deposit along with the Rent advance, the standard for the area is TWO Months Security plus One Month Advance Rent to be paid out to the Landlord before you move into the Property.

Increment in Rent

Find out how does the increase in rent works out as the normal course is a 10% increase in every 12 months but make sure it’s not beyond 15% in any case.

Read the Lease/Rent Agreement

One should read the official lease agreement thoroughly so if there are any changes that can be made well in due course of time also take note of who will be responsible for repairs of things like water, electricity items, etc. Usually, for structural repairs, the permission is to be taken from the landlords beforehand.

Power & Electric Supply

 You need to consider the power & water outage ask the landlord if power backup is possible in most cases backup inverter is available but one must know what are the timings of Water supply in the area along  with charges for both.

Pay Close Attention to Lock-in Period

Before you sign the Rent Agreement pay close attention to the Locking Period which is boundation on you and the landlord which sets the stage for not vacating the said premises before the end of Lock-In-period which usually is about 6 months from the date of Agreement

Do Negotiate Commission With Broker

As besides the rent, the thing that needs to be considered is the broker's the commission which varies between 2%-4% or it can be 1 months rent that needs to be set aside towards commission to the broker.

Make a Record of Inventory

Make a list of inventory in the property which primarily includes furniture, fixtures which are handed over to you and hand over the copy of the list to the landlord as well so that at time of vacating no disputes are arisen.

Find Out How Much Money needs to be Paid out in Advance

Find out through your broker or landlord how much money needs to be paid out as an advance or security money this amount is totally on landlord discretion but as per the standard norms prevailing in Karol Bagh its usually, around 2 months of security money which will be handed over back to you once the property is vacated.

Notice Period For Vacation

Find out the when the lock-in period ends how long is the vacation period usually its 1 months written notice period for both the landlord and tenant before the said property is vacated.

Timing Restrictions

Ask the landlord if there are any timing restrictions as in some cases where even the landlord share the same property there is usually a timing restriction by which you as a tenant need to abide with just ask beforehand and come to the point which is mutually agreeable between you and the landlord.

Conclusion

Well renting in Karol Bagh zone is not an easy task as it involves a lot of work right from the search for the desired property meeting different Property Agents and maintaining the premises on your own well to overcome this problem a lot of Co-Living companies have mushroomed up which does all the necessary things and provide you with a place just to stay and all the household maintenance is on their end one such Place worth mentioning Is COSY HOMES PG In Karol Bagh which offers the best accommodation along with all necessary furnishing at a very nominal cost.

So I hope this Article helps you out in your quest for searching for most desired property which meets all your requirements HAPPY RENTING.

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Created on Jul 11th 2019 20:48. Viewed 328 times.

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