When searching for a home on rent, a common dilemma faced by prospective tenants, is to evaluate which amenities are necessary and accordingly, what the rental value of the home should be.
“In metropolitan cities, amenities close to one’s home could be costly and only available through annual memberships. Hence, most people prefer projects with basic facilities such as a gym, children’s play area, intercom, security, etc. In non-metro cities, people used to prefer standalone projects with only basic facilities, to ensure that they do not incur high monthly maintenance costs. However, this trend is changing now, as people in many tier-2 cities are also asking for basic amenities within the project,” explains Vinay K Mehta, executive director, Unishire.
Unlike an empty apartment, the cost of an apartment with many amenities will be higher. Consequently, the owner is likely to pass on a certain portion of the cost to the renter, as he is going to use them.
See also: Important amenities that tenants look for in a rental house
Types of amenities that are commonly provided with a rented home
- Safety and security like intercom, CCTV surveillance of key areas, boom barriers for parking lot entry, 24×7 security guards, LPG gas detectors, smoke detectors, etc.
- Green features like rainwater harvesting, sewage treatment plant, solar power in the common areas, garbage segregation and composting, etc.
- Lifestyle-oriented facilities like club house, gymnasium, children’s play area, indoor games like table tennis, squash court, badminton court, etc.
How should a tenant decide which amenities are necessary?
The best option for tenants, would be to choose a semi-furnished apartment with basic amenities, as it will provide comfortable living conditions at an affordable budget, suggests Sushil Raheja, CEO of Raheja Homes, Builders & Developers.
“Attached wardrobes, air-conditioners and kitchen shelves are the possible basic amenities that tenants require. There are several online sites that help one to find rental apartments, with amenities according to one’s requirement. Tenants can also purchase their own furniture or even take it on rent, with prices starting from Rs 500 per month for a wardrobe. So, the entire furnishing needs can be covered at a price of approximately Rs 5,000 per month,” Raheja elaborates.
Experts point out that if you have a family that includes parents and children, then, it makes sense to opt for a rental house in a project that has amenities like children’s play area, party hall, club house and a simple gym. However, a gym with lots of electronic equipment may also incur higher maintenance cost for regular servicing or replacement of the equipment.
“For families with senior citizens, it would be nice to have a walking track. These features are useful and low on maintenance too. Families with kids will enjoy having a swimming pool, but it incurs a higher cost of maintenance as it requires everyday cleaning and regular water treatment,” adds Mehta.
While tenants can compromise on some amenities, others like security, elevators in high-rise buildings and power back-up, etc., are a must. Before shifting to a new apartment, tenants who have their own furniture, should also check whether the new house can accommodate their belongings comfortably.
Amit Sethi is an accomplished professional with a distinguished background, holding an MBA in Finance. As an Independent Journalist and Data Provider with 20 years of invaluable experience, his expertise lies in meticulously covering stories on Real Estate, Personal Finance, Business and Banking. He writes journalistic content for leading media publications in India and also provides analytical data to real estate and fintech companies. Amit is driven by a purpose to disseminate insightful narratives, using verified information to empower individuals with financial literacy. Through his work, he aims to assist people in staying aware and making informed decisions that positively impact their financial well-being. Amit is a fitness freak, a marathoner and likes trekking.
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