Outlook Money
Rents are climbing fast, 7.5 to 10 per cent every single year. Tenants in cities like Bengaluru or Mumbai already feel the pinch, and it’s only getting tighter.
The good news? A few deliberate choices can take that pressure down. Here are some tips that renters can try to get the best deal:
1. Step Outside Prime Locations
Being in the heart of the city costs a fortune. Moving just 20 minutes out, where metro lines or buses still connect, can slash monthly rent by thousands. One small compromise, long-term relief.
2. Share the Load with Flatmates
Living alone may sound ideal, but it’s expensive. Two roommates split rent, utilities, and even Wi-Fi. Suddenly, that “impossible” flat in a prime area looks affordable.
3. Downsize Without Shame
A 1RK or studio isn’t glamorous, but neither is a drained bank account. Smaller spaces cut rent and lower maintenance.
4. Skip Fully Furnished Units
Despite the convenience, furnished apartments drain tenants dry every month. Renting inflated apartments each month is often more expensive than buying second-hand furniture once.
5. Negotiate Lease Terms
The longer the lease, the better your protection against future rate increases. Capping increases at 5 per cent, for example, is a small win that adds up over time.