10 things to know while renting an apartment in Pune

Many of you have already planned to move to Pune city. At this point in time, we hope that you will find a perfect home. If you can’t bear to buy an apartment/house of your own, you probably want to lease. Though moving to a new apartment is very exciting and at the same time a little scary. Finding a good renter to rent could be a terrible job. You already know what you want in an apartment and you have probably set specific areas or neighborhoods.

Highlights:

Let’s go through a list of things to know while renting an apartment in Pune to live a comfortable life:

1. Rental Agreement
2. Flat documents & Security Deposits
3. Budget & Additional Cost
4. Location
5. Society rules and guidelines
6. Inspect the flat
7. Evaluate the Property and Neighbourhood:
8. Maintenance charges
9. Brokerage commission discussion
10. Lock-in period and rent increase percentage after the expiry of the contract

Let’s go through a list of things to know while renting an apartment in Pune to live a comfortable life:

1. Rental Agreement :
   When finalizing the rent agreement, carefully read the clauses that specify the period for which you are entitled to stay and the period after which your landlord may ask for an increase in the rent. If you find any of the clauses disagreeable, talk, and get it changed immediately. It is essential to have a written agreement between tenants and owners for the law to safeguard the interests of both parties. An oral agreement is not legally binding, and no one should ever settle for it. A ‘Legal Form’ of the agreement with signs from both the parties has to be completed. The owner gets to keep the original form and the tenants receive the duplicates. Until such time that the owner does not provide a copy of the agreement to the tenants, they are not obligated to pay the rent.

    

2. Flat documents and Security deposits :
   Before taking an apartment or flat of your choice through the broker or directly from the owner, you must make sure the property is free of any fraud or title issue. You can request for documents such as chain of title transfer, last paid electricity and water bills, overall layout and provision of changes (if any), relations of the owner with the broker (if any), and basic know-how of the last tenant who lived there.
   According to the Draft Model Tenancy, it is unlawful to charge a security deposit which is over three times the monthly rent. However, just like the rent charges, the rate of the security deposit is determined by the state laws. Check out the link below to see how much deposit you are liable to pay in your city. Once the premises are vacated, the owner must refund the security deposit to tenants within one month. They can deduct the liable amount from this (after discussion with the tenants and agreement by both parties) before refunding the amount.  These laws are according to the Draft Model Tenancy prescribed by the Ministry of Housing and Urban Affairs, and function as general guidelines to keep in mind before moving into or renting your place.
   The list below will tell you the laws that are followed by some Indian states. Make sure you read these before signing the agreement.
   
   1. • The Maharashtra Rent Control Act, 1999.
      • The Delhi Rent Act, 1995
      • The West Bengal Premises Tenancy Act, 1997.
      • The Tamil Nadu Buildings (Lease and Rent Control) Act, 1960.
      • The Karnataka Rent Control Act, 2001.

     

3. Budget & Additional Cost :
   It is very important to consider how much you can afford to pay and follow the rule not to exceed 25% of your monthly income. Focus on your search according to your budget. Sometime, you may be forced to compromise when finding a bigger apartment in a developed area but make sure it is worth spending the extra money.
   Always find apartments/houses which suit your budget. Then you should check whether the price is inclusive or exclusive of gas, water, electricity, and the internet. Then, is there any additional fee you have to pay such as maintenance, cleaning service, packing, and fixing).

    

4. Location :
   Location is the most important thing when one chooses an apartment for rent. If you are a student, check how long it will take for your school. If you are a service person, check how long it will take to reach your workplace. If it is 20-30 min biking and cycling, ask yourself whether you can manage to drive or run a cycle/bike every day to school/office. This will not only save your commute time but also the traveling cost. You should also do research about how many shops, supermarkets, clinics, hospitals, bus stops, railway stations are nearby.

    

5. Society rules and guidelines :
   Every society has rules and conditions that are imposed to maintain a stress-free residential experience. Some societies might be conservative about having late-night parties, having pets, playing loud music, or bringing friends over all the time. Ensure that all your doubts and queries are cleared before moving in, feel free to check for the resident’s manual, or simply ask your landlord.
   Ask the landlord what safety measures the property has, including a watchman, double door lock, or a CCTV camera. You can also ask or research the neighborhood’s safety quotient. Is it a relatively safe area or not?

    

6. Inspect the flat :
   Before you pack your bags and load up the truck, make sure you inspect your new flat thoroughly. Another way to ensure safety at your home is by checking the doors, locks, and windows of the property. Before finalizing a place, make sure you check these for any fault or repair. If you are moving into a fully furnished apartment, do have a close look at the furniture or appliances that are being provided. Ensure they are in working conditions and not damaged. You would not like a choking bathroom sink or broken electrical fixtures in your new home, would you? Run each tap and switch on buttons to see if the water flow is fine and the lights are working all right. Also, check that the house is freshly painted and there is no seepage inside the house.

    

7. Evaluate the Property and Neighbourhood:
   You should choose a neighborhood that is comfortable and safe. First-time renters make a quick decision and sign a lease without fully checking out the neighborhood. Do not hurry the rental process. Before committing to an apartment, visit the community/societies during different times of the day. It is advisable to visit the societies during the evening time and on the weekends when most of the residents are at home.
   
   
   
8. Maintenance charges :
   Mostly the tenants need to pay the maintenance amount to the resident welfare associations or management bodies of gated communities. So as to not enter any conflict later, ask the landlord who will pay the extra maintenance cost, in addition to the monthly rent.
   
   
   
9. Brokerage commission discussion :
   Mostly the tenants need to pay the maintenance amount to the resident welfare associations or management bodies of gated communities. So as to not enter any conflict later, ask the landlord who will pay the extra maintenance cost, in addition to the monthly rent. Regular maintenance aspects such as water taps, electricity boards, and wiring might not be on the top of your checklist, but heavy interior or outdoor damage repair and coloring of walls can turn into a matter of debate. Hence, these must be discussed right away.
   
   
   
10. Lock-in period and rent increase percentage after the expiry of the contract :
    The lease agreement between tenant and owner should clearly mention minimum lock-in periods (the minimum stay duration) such as six months, one year, or three years. Typically, this lock-in period is one year. Also, at the time of vacating the flat, notice period, adjustment of advance security, and electricity bill payment should be discussed. The discussion related to the percentage increase in the rental amount must be taken up at the time of signing the agreement.