Have you recently shifted base to Bangalore and still in search of the perfect rental property? Well the following post will guide you completely in your search of a rental property in Bangalore.
Bangalore, the sixth largest Indian city is also known as the Silicon Valley of Indian for the presence of the huge Information Technology (IT) Industry. As the IT hub, Bangalore is definitely one of the most preferred destinations for young professionals all across. Every year, thousands of single professionals migrate to the city, in search job opportunities. These migrants look for accommodations within the city and mostly focus on rental properties.
Needless to say that due to this growing population, the demand for rental properties continues to increase.
If you also belong to this category of end users who are looking for rental properties in Bangalore, then it is advisable that you have a fair idea about the basics of how to search for a rental property in Bangalore. The subsequent paragraphs explain the basics of renting a house in Bangalore:
Chalking Out a Proper Budget
Real estate experts opine that you must not spend more than 25 to 30 per cent of your annual income on rent. Thus, set the budget right away leaving behind a little scope for flexibility. Plan your budget depending upon your choices—type of rental property, location, furnishings and other requirements.
Landlords in Bangalore usually charge 10-24 months of advance deposit. So make sure that you have enough revenue ready to carry out the transactions.
Location of the Property
Being aware of the property is very much essential even if you are yet to move to the city. Depending upon your workplace, income and budget, you should chalk out where you see yourself. The decision of the location can depend upon the distance of your workplace or your spouse’s workplace or even your children’s schools.
Three Main Considerations before Renting a Property
Rental properties in Bangalore are available spanning all across budgets; you can choose from small 1BHK apartments to bigger 3BHK apartments and even serviced apartments. It is better you enlist all your requirements beforehand. Bangalore has some issues regarding water shortages. So, it is advisable that you opt for a locality that has access to the waters of Kaveri River.
If you have to avail public transport, you must consider renting a property from where you can easily get access to public transport. Public transport in Bangalore is good enough and is one of the most reliable sources of transportation in the city. Bangalore Metropolitan Transport Corporation (BMTC) and Karnataka State Road Transport Corporation serve the city. Now, with the Namma Metro becoming operational, connectivity across the city has been further enhanced. Areas like Koramangla and Electronics City are the favourable locations to rent out an accommodation.
Once you have sorted out your essential requirements of renting a property, you can go ahead with your property search; while taking the help of a property dealer is the obvious choice, you can also opt for resources like advertisements and social media platform.
Completing the Legal Aspects
Well, there’s some more to the overall procedure. Once you have figured out the above-points, you must take time and complete the legal aspect that surrounds house renting. Do not forget to find out a little more about your landlord; do cross the terms and conditions before you sign the deal; do keep a copy of your rent agreement and also sort out clauses regarding sub-letting as well.
Top Locations in Bangalore for Rental Properties
If you are a working professional, some of the best neighborhoods to rent out a property in Bangalore are:
- Koramangala Layout
- MG Road
Most of these locations offer affordable to mid-range rental properties. So, if you are looking for a rental property in Bangalore, keep the above-mentioned points in mind and then go about making the final decision.