Top Mistakes to Avoid While Taking a PG on Rent

There is a huge influx of young population in metropolitan cities owing to vast employment opportunities, educational institutes, and a good standard of living. Affordable rental accommodation with all the necessary amenities is what millennials prefer. Rental apartments/flats are far more expensive in cities, which is why PG accommodation can be the ideal choice for affordable living in the cities.

However, finding the right paying guest accommodation can be tough, at least in the beginning. You will need to diligently do some research and look at all the essential offerings properly. You never know what you are getting into unless you do some background checks.  

Make sure you have done a site visit and spoken to a few existing residents there before zeroing in on the PG accommodation. Often landlords may promote their PG accommodation as being more spacious or offering more services than they usually are. 

Also, if you are looking for paying guest accommodation in Delhi that are genuinely safe, make sure the safety provisions they have claimed are for real and if there is a CCTV both outside the gate and inside the building and a 24×7 security guard on the premises. Ensure that the accommodation is located in a safe residential area, where basic amenities such as hospitals, shops and other facilities are available nearby. 

Speak to the landlord or the broker about the basic amenities provided along with the terms or conditions of the stay. Get the same verified with the other inmates staying in the PG. Have clarity on the rent, its due date and have an understanding of the security deposit and notice period.

It is important to ensure that the room allotted to you is not overcrowded as this can be the root cause of many problems like claustrophobia, unhygienic conditions, and a problem in accessing common facilities during rush hours.  Another important factor that needs to be looked into is privacy which can be difficult if you have limited personal space/ study space etc. in your room. 

Sometimes paying guest options turn out to not be totally legal accommodations, as such your landlord might insist on an oral agreement for tenancy instead of a written agreement.  Don’t agree to this as you might land yourself into trouble with both local authorities as well as landlord issues. In order to avoid such situations first and foremost get a rent agreement made. A lease agreement having a duration of more than one year requires compulsory registration. Make sure that the rent agreement has all the clauses that you have discussed with the landlord verbally. Always keep a copy of the agreement with you. Normally there is a 10% hike in the rent after completion of the initial tenure. The landlord cannot hike the rent in the middle of the tenure, he can only increase the rent when the lease is up for renewal. 

Before entering into an agreement with the landlord for accommodation you must check with the owner whether he has obtained all the necessary licenses/permissions required to run a paying guest accommodation from the local authorities. This will prevent you from entering into a situation where for no fault of yours if the PG shuts down, you aren’t suddenly left homeless. 

When you sign the agreement, you will have to pay a security deposit as this is mandatory under the rent agreement that you and your landlord will sign. Generally, security deposited is equivalent to a month’s rent however depending on the landlord it can be two month’s rent also. So, check with the landlord about the security deposit he will take. The landlord takes this money as a token of guarantee that you will be adhering to the timeline of the rent agreement and can also be used for repairs of any kind done to the property during the tenure of your stay there. 

All the hassles that involve renting a PG has made the millennials turn their attention to professionally-managed accommodation, which is the latest concept of co-living. Hostels and PGs are mainly about lodging and boarding while co-living provides an elevated lifestyle with opportunities to interact and cohabit without the overbearing scrutiny and rules. Most importantly co-living spaces offer flexible lease periods that can range from short term to long term. 

One of the benefits of a co-living space is that one need not compromise on comfort when living away from home. The facilities available such as utilities and maintenance are at par with what is available in one’s house. Although co-living may not be as cost-effective as a hostel or PG, it does offer more benefits at a slightly higher cost. The concept of co-living involves having a common kitchen, a utility space, and a lounge area along with a common zone for relaxing. 

Another big advantage that co-living space providers offer is the freedom from paying huge security deposits to the landlord. Security deposits for the long term also work as a deterrent for those who move to a new city for just a few months on a project and want accommodation.

With the concept of co-living taking shape in a big way, there are professionally managed companies like Stanza Living who provide all the facilities necessary for making life easier. Millennials today are more aspirational and want several facilities at one go, without having to spend time, energy, or resources to source and manage them separately. Co-living comes with more freedom to the occupants and is fully-managed so you don’t need to worry about managing your household needs. Co-living spaces also provide a lot of opportunities to the occupants to socialize and have regular interactions with one another, helping overcome the problem of loneliness for the occupants if they were to rent similar accommodation individually. They have shared living spaces, common amenities, and occasional get-togethers giving the feeling of being a part of a big family. 

For every co-living space, the health and safety of their residents have become the highest priority especially at a time when COVID-19 is spreading rampantly. The co-living companies are adhering to guidelines from WHO, medical experts, and the Indian Government to ensure that the residents at their properties can remain safe.

Before settling for a PG accommodation, you should weigh all the pros and cons of living in a paying guest accommodation. You will find that professionally-managed co-living options are your best bet for a convenient, hassle-free yet cost-effective rental accommodation.