Two inputs lead to your new home, the personal preferences and on the other side the location. The first you have to analyze for yourself and with your family and the second comes normally from outside through desk research, friends or help.
To your own analysis, here your preferences in the type of accommodation, the surrounding and the style are important. The type can be a flat, single house or a condominium. The size is determined by your family size are other needs like storage or representation. The surrounding can be the close one around the house like garden, parking, next neighborhood but also the wider one like daily shopping, hospital, parks and so on. The style is also important to make you feel comfortable and at the end feel home. Here one should consider house style - a modern one or a typical Indian style, a representative object or a family retreat, a place to have the kids entertained or a stylish designed one.
On the other side the location, if you don’t have the time for intensive desk research or you are completely new to India and the city an agent can be your partner to add that information. There are plenty available, but also not so ethical once and at the end the trust and mutual understanding is here the selection criteria. The agent has the overview over the market like the availability, the prices and knows the specifics. The first information what is important to exchange is the work place and the school. If the school is not clear a good agent helps to select, be making appointments, shows options and discusses the strengths or weaknesses of the schools. If the locations are clear, the personal preferences need to be exchanged and clearly understood. At the end the important information is the budget. Out of the situation of the real estate market in Bangalore the prices seem to be very high for newcomers if they compare it with other places in the world. But for sure it is possible to find in each price segment something and good agents show only objects in the asked segment, perhaps with one or two options left and right to give a clear picture.
If that preparation is made the good agents normally shortlist only fitting objects, which needs to be inspected. These tours, if well organized, give you beside the details of possible houses also a clear idea of the surrounding and also the traffic situation. If objects are of interest you should go in different times of the day again there to check the noise level, the light and perhaps also the traffic to reach the work and school place. If the selection is made and double checked the final negotiation needs to be done to get the best out of the money. Here small modifications can be asked for or a furnishing can be discussed. Because it is a big achievement for Indian people to have a house or flat and every house owner tries to realize his very personal own ideas it requires some diplomatic skills to convince him of changes if required or little compromises need to be made.
Important points in that negotiation are for how long one needs the accommodation and how much it has to be furnished. In general the shorter the lease period the more difficult to convince house owners to rent something out, for periods below 4-6 month it gets difficult to find places, especially if it should be furnished too. In furnishing we distinguish between fully furnished, which can go up to cutlery and dishes too, but more common includes, bed, sofa, dining table, TV and cupboards and semi furnished, which normally means that the white goods like fridge, oven, stove, washing machine is included. Under unfurnished we understand usable bathrooms and the kitchen prepared to connect the white goods. The furnishing adds to the rent as an additional investment for the landlord for the targeted lease period. The furniture is not every time new and follows the taste of the landlord. If that is ok it can solve a lot of hassle because it reduces the transportation effort (cost, paperwork, …) of own goods.
At the end the paperwork has to start with a lot of specifics from India, lease deed wording, stamp paper, checking of tittle documents and so on. Either the company is supporting or we as agents at ZAAS help to avoid mistakes and have a trouble free lease till to the end.
Normal terms in Bangalore are to have a lease deed for 11 month (tax reason for the landlords), renewable for 2 more periods, a deposit of 10 months of rent, lock in period for the first period, a notice period after the lock in of 3 month, in acceleration for each period of 5-7%. Means beside the monthly burden, blocked capital for the companies and agreed commitments for the lock in period.
After all that paperwork the execution of the changes or extras needs to be checked and the final moment of the handover will be accompanied with a proper protocol to avoid later discussions.
Then the move should take place and good agent’s help with the daily starting problems, the shopping of the daily goods are help with the interior or the landscaping till you have your new home.
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