Buying a property is considered to be a feasible option and a long-term investment. However, as an NRI have you ever thought of renting a property than buying one? Well, renting a house is an excellent option than the purchase of a house. You should know it comes with a number of benefits. A lot of Non-Resident Indian prefer to have their own share of investment in properties. They also look forward to getting the best deals for a magnificent house. NRI investment in real estate is not only about buying, but also renting. If you happen to rent a right house, you can say lots of money.
You should know renting a house or buy a house has its own share of problems. It is definitely not a small task. If you have decided to rent a house especially if you are here for a short stay, then mentioned below are some dos and don’ts you can follow before signing the papers.
Understanding the Rent Agreement
Don’ts – A lot of renters including NRIs often neglect the importance of going through and understanding the rent agreement produced by the landlord. In case, you do not understand anything; you can ask your landlord to explain the same.
Dos – You are highly advised to understand every bit of information written on the rent agreement. In case there are any changes, ensure you get them in writing to avoid any problems later on.
Overlooking the Inspection Aspect
Don’ts – Do not ever think that the house you are renting is perfect in every way possible. There is every possibility of finding out the house has leakage issues, roofing problems and more later.
Dos – Do make it a point to inspect the house you are renting thoroughly. If you notice any primary or minor problem, ensure you bring it to the notice of the owner. A lot of landlords tend to allow the renters to take a tour of the property thus helping them to list down the damaged area that needs repairing.
What About Pets?
Don’ts – Do not ever make the mistake of hiding your pet and not discussing the same beforehand. If your landlord gets to know about the same later on, it can land you in soup.
Dos – Before you sign on the dotted lines you are advised to discuss whether pets are allowed in the house.
Make Timely Payment
Don’ts – Though you are an NRI, the payment needs to be done on time. Not paying your rent on time or several late payments can lead to eviction or even costly fees. Do not overlook your due date for rent.
Dos – When you pay your rent on time, you stand to be in the good books. This further leads to increasing your lease agreement to few more months or even years.
These are some of the essential dos and don’ts one has to keep in mind when planning to rent a home. If you still want to purchase a home, then consider looking for flats for sale in Thane as they are the best option.