Let’s face facts. Renting a home in Mumbai can be a nightmare, especially if you are new to town. From astronomically high rents and pigeon-hole apartments to dealing with brokers and landlords, there is a lot to take in. But don’t worry because we got your back. Here are 5 things you must keep in mind when renting a home in the maximum city.

1) Prepare For Nightmarish Prices

Move to Mumbai and the first thing that is going to blow your mind are the rents. Mumbai is starved for land and so, property prices here are unreal. Be ready to shell out as much as Rs 30,000 or more per month as rent for a 1-bedroom apartment and anywhere from Rs 1.5 lakhs and more per month for a larger apartment. One solution is to go further away from the city center and it is not unusual for people to stay 40 to 50 kilometers away from the city to take advantage of low rentals. Otherwise, look at sharing an apartment with a separate bedroom setting you back about Rs 15,000 to Rs 20,000.

2) Location Will Be A Problem

Most people want to stay close to their work when moving to Mumbai and this makes finding a good location very important. Since most offices are located in commercial hubs without much social infrastructure, you may want to figure out whether you want to look for a place further away from your office. Suburbs like Bandra scores high thanks to an abundance of restaurants, shopping centers, hospitals and schools, but it can be expensive. Mumbai’s famous local trains will help you get around the city easily, provided you are ready to brave the peak hour crowds.

3) You Are Leasing, Not Renting

Another peculiarity of Mumbai is that you will not be renting an apartment, you will be leasing it. Most landlords prefer this method as it helps them avoid coming under the Maharashtra Ownership of Flats Act (MOFA), which has stringent provisions protecting tenants. You will be asked to sign a lease agreement with a lease period typically lasting 11 months, which will then have to be renewed every year. Some landlords make you sign two lease agreements – one for the flat and one for any furniture that will be provided with the flat. But make sure you read the agreement carefully and get it checked by a property lawyer if you can.

4) You May Have a Lock-In Period

Although lock-in periods are not present in a housing society’s by-laws, you will come across it when looking for homes in Mumbai. Most landlords insist on including a lock-in period during which you are not allowed to move out of the apartment. This can range from 6 months to a year. If you move out during this period, you will face penalties and even risk losing your deposit. So if you feel that you may have to move out of your home soon, ensure that you do not sign any agreement which has this provision put in.

5) Watch Out For Brokerage

As much as you may hate to do it and even though there are a number of rental housing apps and even groups like ‘Flats Without Brokers’ on social media, it is very likely that you are going to use brokers. And when you do find a house using a broker, you will have to pay 1 month’s rent as brokerage. This is common and cannot be avoided. But the problem usually occurs after a year when it is time for you to renew your lease. Some brokers will insist on you paying another month’s rent as brokerage. Stand your ground and say no as there is no such rule or custom. Most reputed brokers do not charge for renewing a lease and in fact, they advise tenants to interact with landlords frequently to ensure that they are not taken advantage of.

Reporter- Ashwini Priolker
Edited by- Nikhil Narayan Sivadas