Monday, September 19, 2011

Renting Furnished Accommodation: Get Accommodation

Renting furnished accommodation, be it an apartment, house or a portion is gaining traction, especially among people who are relocating for a sort period of time and do not want to purchase furniture or spend money on shipping it. Furnished accommodations can be classified into three categories: Budget: Fully-furnished bedrooms, lounges and drawing/ dining areas with curtains/ blinds; basic bathroom/kitchen fittings and light fixtures. Mid range: Includes the above mentioned features as well as a UPS/generator and air-conditioners. Premium: In addition to all the budget and mid range features, this category includes electrical appliances such as refrigerator, cooking range, microwave, washing machine, TV and entertainment system etc, as well as high-end bathroom/kitchen fittings and lighting fixtures. Home accessories such as rugs/carpets, lamps, paintings and indoor plants are also in place.  
Although such a hassle-free arrangement sounds tempting, it comes with its own share of disadvantages, which include:
  • Rents are 30-40% higher than unfurnished units.
  • It is sometimes difficult to find a furnished property that matches tenants' aesthetic sense; tenants often have to compromise and live in a space they don't really like.
  • Some landlords are inflexible and raise objections if tenants want to modify or add personal touches to the interior. 
To avoid altercations with landlords, tenants should:
  • Be very clear on issues such as maintenance of appliances and furniture, the removal of unnecessary items, and the placement of their own furniture.
  • Settle on a penalty for damaged, misplaced or stolen items.
  • Obtain permission to rearrange furniture prior to making changes.
  • Ensure that the above-mentioned points are clearly tenancy arrangement.
The following are the approximate monthly rental ranges (in rupees) of furnished accommodation in Karachi, Lahore and Islamabad.
  • 2-3 bedroom apartments - Budget 11,000-30,000 Mid range: 15,000-50,000; premium: 20,000-70,000
  • 2-bedroom portion/houses- Budget: 25,000-55,000; Mid range: 45,000-85,000; premium: 65,000-105,000
  • 3-bedroom portion/houses- Budget: 45,000-100,000; Mid range: 55,000-150,000; Premium: 75,000-220,000
  • 4 bedroom/portion/houses - Budget: 85,000-200,000; Mid range: 95,000-250,000: Premium: 115,000-300,000