A Pocket Sized Rental Guide For The First Time Tenant

The Rental Guide for First Time Tenant

Rent apartments are becoming very popular among people. The majority of people are migrating from joint family to rental apartments. The rapid growth in population is one of the biggest reason behind this. That's why the property rate is getting higher and people are not able to buy the new property. Therefore they are looking to have a rental property. But in some cases, a rental apartment is the single option. e.g the working professional has to move to rental property for the sake of their job. Because they find the rental property much cheaper than buying an entire house. Rental property is the best option for working professionals because rental property allows them to change their location as per their job without any big hassle. Let's take a look on some of the major points to be considered for first ever tenant. Here are the tips to follow for the first time tenant to get the best rental house for them:-

1. Before The Start of the Rental Search

To get into the rental apartment you have to make sure that you have enough funds. Because without enough funds you can't even hope think of rental apartments. Let's take a look at how much money do you need to have a rental apartment. In most of the cases, the tenant has to pay 1-month rent in advance along with the security fee. The security amount is refundable on the basis of the tenancy. 
The tenancy is an important factor that should be considered before the rental search. The duration of tenancy is usually for 6 months. If the tenant wants to live in the rental apartment after the expiration of the tenancy. Then they can demand to extend tenancy as per their needs. But they have to pay some money to the landlord for the paperwork of tenancy.

2. Find A Place To Rent

This is one of the major things for the tenant that which place do they like to live at and which property best suit them. There are some questions that need to be answered by the tenants themselves are:-

• Do you have your own vehicle? Do you need to be covered or uncovered parking? If you need covered apartments you need to spend more money.
• Are you a working professional without having any furniture. Or do you have a family with lots of furniture? In both the cases, you can opt for a semi furnished apartment. But if you do have a lot of furniture then you should opt for the unfurnished apartment. And the working professional can opt for the fully furnished apartment as per their convenience.
• Do you want to have a better connectivity with your office location or some other major locations in the city? If you are a working professional then you can opt to live in an area with better connectivity with your office, But if you do have a family then you may need a better connectivity with your office, hospitals, parks, schools etc.

3. Keep An Eye On Your Budget 

We have already mentioned that almost every landlord charge two-month rent from the tenant in advance. They also charge some amount of security. That's why it becomes a little bit costlier for the tenant. In the first month, the tenant may not pay only two-month rent with security charges but also some additional charges that will be going to occur during the first month. Here are the lists of the few:

·         Phone, wifi, and TV connection bills.

·          Utilities charge gas, water, and electricity.

·         Expenses on daily household items.

So the tenant should make sure that they can afford all these expenses. Then choose the best rental house for them.

4. Tenant Application Process

The tenant application is the key to get into the rental apartment. But don't ever try to be in the hurry while filling up the application form. Because this application form contains all the rules and regulation to be followed by the tenant. Apart from that it also mentioned some responsibility and duties of the landlord towards the tenant. If you the things mentioned in tenant applications are not getting understandable by you, then you should take an advice from your friends or loved one. So be smart and read the whole application at least once, before sign into the form. If you do so then you can come to know about your rights in the rental apartment.

5. Ending The Tenancy

Everything comes to an end in this world. In this way tendency also have a limited life of 6 months. After that, you can renew the tenancy or you can leave the rental apartment. But before do any of these things. You should consider the procedure for ending the tenancy.

1. Notice period: Noticed period varies from landlords to landlords. In fact, it is also mentioned in the tenancy agreement. More often the most common notice period is of 15 days. But in some cases or circumstances, there can be 30 days noticed period.

2. Deposit return: The advance deposit is returned when the tenancy period expires or sometimes it into the return and considered as final month rent for the tendency. Security amount is also refundable if you submit your notice period at the right time then you can be eligible to have security deposit back. But in some cases, the security amount may not return because of the property damaged by the tenant.

3. Outstanding Bills: The outstanding bills are those bills which may occur during the last month of the tendency like wifi bill, electricity bill, gas bill, telephone bill etc. The tenant has to pay all the bills when they left the rental apartment. Otherwise, they can be trapped in legal actions.

Conclusion

The tenant should follow this guide to keep them alert. If they do so they just not save their money, but they also get the mental satisfaction. This guide has mentioned all the major points. That should be kept in mind when someone is looking for rental property. After that, they can contact any real estate agent for further process. There are some of the most trusted real estate agents in Delhi NCR. Balaji Services is best among all the real estate agents in Delhi, NCR to provide service apartments in Delhi, Gurgaon, and Noida.