Four Tips for Renting Out an Apartment for the First Time

Renting out an apartment has its own troubles; there are certain things that you need to be aware of before renting an apartment especially if you are a first time tenant. Read on to know more.

While the economy of 2014 might show some subtle signs of improvement, the real estate segment might not turn out to be best bets for every end user. People, who are looking out for rental accommodations, will have to be extra cautious as a tight rental market awaits them. This is because buying property has lost out considerably on their significance due to driving property prices.

However, this does not deter any end users from renting out apartments. But what do you do before you decide to make up your mind about renting out an apartment. Needless to say that extensive searching is one of the first options that every tenant will have to look for? But is that all? Well, not really and if you are a first time tenant, you will have to be extra cautious. So what are the tips that you need to look for if you are a first time tenant – read on the following paragraphs.

Set the Location and a Realistic Budget

Finding a location is important depending upon your taste and lifestyle. Finalizing the location is important because, if you are single professional you would probably look for a locality that is close to your workplace; or if you are a student you would ideally look for an apartment that is close to your college.

Once the locality has been finalized, you should then try and focus on the budget. Just as the location is essential, so is the budget. Age-old wisdom denotes that one should spend no more than 30% of his or her annual compensation on rental costs. So, it is advisable that you keep this in mind and thereafter go ahead with your planning.

Keep Aside a Budget for Extra Expenses

Just chalking out a budget for the extras comes in handy. This is because you might not be paying for only the rent – you might have to take care of the electricity bills and other bills such as cable. All these hidden costs put together with your house rent can turn out to be much more than you think. So, if you are on the hook for utilities, include these in your budget lists. Carefully calculate all these lists and then end up making the final decision.

Present yourself as a Desirable Tenant

Rental markets are quite competitive so have your budget and references ready even before you start searching. In certain markets, as a tenant you will be expected to pay a security deposit for renting out an apartment; if you are going through a broker, you have to pay him also.

It is very important that you present yourself as a desirable tenant to your prospective landlords; it is a good idea to having your parents co-sign the rental document. Another good option is to carry a letter from your employer as a proof not only your employment but also your identity as a working professional. Some prospective landlords sometimes tend to run a cross check of your credit in order to settle any kind of scores related to money.

Check a the Neighbourhood Properly

Just as chalking out a budget is very essential for renting a house, conducting a thorough research about the locality is also required. Choose an apartment based on certain parameters such as maintenance of the building and the area where the apartment is located. What is the crime rate of the locality? If possible interact with your prospective neighbours and find out more about the locality. If required visit the locality in more than one occasion.

Put Down Everything on Pen and Paper

After finalizing everything, it’s important that you put down everything on pen and paper and make sure you keep a copy the document with yourself for future references.

Author Bio: A skilled writer and an ardent blogger, Sampurna Majumder loves creativity and challenges. She has been providing her expertise to the world of new media for over a year now by penning articles and posts for various real estate websites that cover all kinds of information about real estate. The above post provides some tips on renting an apartment.


Flats or Lands: Which Is a Better Property Choice?

Flats –

For flats, you may have to wait for a few years for the possession. You pay a down payment and then EMIs. Bank loans are easily available on the approved projects by the banks. But, of late, there has been a rising tension amongst the buyers who chose to put their money in the construction projects that were in progress. So, if you decide to go for a flat, please make sure you park your money with a developer that you can trust, a developer who has a history of timely project delivery.

Flats often turn out as the best property in Gurgaon as you have the choice to live there, or to put the rent on rent, or sell it the moment you get the price that you were looking for. Gurgaon real estate offers all sorts of flats such as studio, 2-BHK, 3-BHK, 4-BHK, luxury flats, etc. Price vary hugely from one place to another, from one developer to another, which means you have to undergo a detailed research before you decide the type of property that would best serve your purpose.

Open lands –

Lands are also in huge demand these days. Agriculture lands, commercial lands, they are all quite profitable deals. With an open land, you have the choice to build your home (the way you want to build it, take it as high as you want) or keep it that way and sell it when prices go up and you get a tempting offer.

Though open lands are hardly available in Gurgaon, you still can find a few. These lands also top the chart as the best property in Gurgaon, as you have all rights over the land and use it your way.

Both properties – flats and open lands – have their pros and cons; you have to decide which one makes more sense to you. When looking for the best property in Gurgaon, you can take help from the real-estate portals that enlist all sorts of properties that Gurgaon has to offer. Then, you can also take professional guidance from a local real-estate agent.

Buying a property is most likely to be the best investment you’d even make in your life. So make sure you don’t put your money in a bad project or in a bad property. The best way is to research for the best properties in Gurgaon and plan the things out. To begin with, you should think about the budget – how would you manage the finance; once you have worked on the budget, the next step should be the kind of property you want – whether a 2-BHK flat would suffice, or an open land is a better choice; last, but the most important thing, would be to look for a professional that could guide you throughout the property buying process, someone who knows Gurgaon real estate market from inside and outside and thus can help you find the best property in Gurgaon, that too within your budget and in the minimal time.

Author Bio –

Rashmi Nair specialises in real estate content, and writes extensively on the topics covering satellite cities like Gurgaon. To read more from him, visit the space regularly. The next post would be a continuation of this post and would be focused on how to get the best property in Gurgaon.

Today Royal Elegancia in Sector 73 Gurgaon, Gurgaon

Today Royal Elegancia in Sector 73 Gurgaon, Gurgaon

Today Royal Elegancia is a beautiful apartment located in Sector 73 Gurgaon.Beautiful Apartment in Sector 73 gurgaon.An ultra-luxury abode with luxurious finesse & a vision of creating an unmatched address with world class amenities, Today Royal Elegancia is unveiling its masterpiece in the heart of Gurgaon. The 4BHK luxury apartment along with a guest lounge & servant quarter in 3 towers and 2 apartments in each floor is lined with top of the line amenities like club facility and all apartments over viewing greenery making it distinctive & the most sought-after residential address.

Today Royal Elegancia is a destination for the distinguished and the discerning in the true sense of the word. An entirely new evolution in pure luxury living.

today royal elegancia 25_pp_1

Property Type : Apartments / Flats

Bedroom : 4 BHK

Area : 3650  sq feet

Price : Rs. 2.59 crore

Today Royal Elegancia Features

  • Club House
  • Security
  • Lift
  • Gym
  • Swimming Pool
  • Recreation Facilities

I Know you are very much interested to buy this beautiful apartments view more details Here