May 26, 2022

6 ADVANTAGES OF RENTING A FLAT

Do you want to shift to Bangalore? Are you confused about whether you need to buy a flat or rent a flat? If so, then you can think of renting a flat in Bangalore because there are several benefits of renting a flat. You can even enquire about flats for rent in bangalore to get a broad idea of their availability.

You can check out the following points because they will give you a clear idea of the advantages that you can have after renting a flat.

Why is it more beneficial to rent a flat?

  • No need to pay the maintenance cost:-Any tenant does not have to spend money from their pocket for maintenance. This is one of the most advantageous factors that a tenant can enjoy in comparison to the house owner. Every flat requires the cost of maintenance that they need to pay to the society or the complex. The house owner is required to pay this cost. Even if some damage takes place in the house, the house owner is responsible for fixing the damage. Any tenant is relieved of the stress of paying money for the house loan, paying money for renovation, and many other things. In simple words, it can be said that the tenant is only required to pay the rent of the flat and the electricity bill because the house owner will pay for the rest. Hence, it is advantageous to rent a flat in Bangalore rather than own one if you desire to save your money.
  • Quite flexible:-Buying a house is not a good idea for people who have a transferable job. Since there is no point in buying a house in Bangalore when you are required to shift to another state or country within a few years. Renting a flat is a good idea for people who need to shift from one place to another place with time because in most cases, no commitment of time is involved while taking a flat on rent. Hence, renting a flat has advantages because you can easily leave the flat that you have rented without any burden of carrying the maintenance cost in the future.
  • Income tax savings: If you rent a flat while working in a profession, you can request a house rent allowance. In most parts of the country, the house rent allowance is close to 40%, and in metro cities, the house rent allowance is close to 50%. You cannot enjoy this benefit if you have decided to buy a flat because, in that situation, you will need to pay a high amount of tax. In some cases, people get the allowance while paying the loan for the house, but this allowance will not be applicable after the loan has been repaired completely.
  • Sharing a room with a known one: One of the most significant benefits of renting a flat is that you can share it with anyone you know. When you decide to rent a flat by sharing it with another person, the rent of the flat automatically gets split between you and the other person who is staying in the flat. The splitting of rent will also benefit you because you can save a part of the rent that you would have had to pay if you stayed alone. These advantages cannot be enjoyed if you think of buying a house because there is no point in sharing the rent in that scenario.
  • Able to use all facilities: It is essential to take a flat in a good complex for rent. Some numerous complexes or societies contain many amusing things inside the premises of the complex. A gym, a park, a swimming pool, and many more entertainment items are also present inside the premises of a good complex. If you successfully find a flat in some kind of good complex on rent, then you can enjoy all the benefits without paying an extra penny for it. If you had thought of owning a flat in a complex like this, it would have cost you a higher amount of money because the value of the flat automatically increases with the facilities that are present in the complex. Even paying the maintenance charge for such facilities is often more expensive than imagined.
  • No huge investment required:-When you think of renting a house, the only investment that you will need to make is to keep the deposit in the hand of the house owner for security purposes. The amount of the deposit is quite less than the price that will be required to purchase the entire flat.

Conclusion

If it is difficult for you to find the perfect accommodation that suits your requirements, then you can take the help of Stanzaliving. It is important to note that the rent may remain fixed for 11 months, and after that, the house owner can increase the rent by a percentage with proper notice. But before renting an apartment, make a prior visit to the flat to check all the space and corners of the flat. If any broken part catches your eye, inform the house owner beforehand so that you do not face any problems in the future.

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