Renting in India can be a very simpler experience, if people were aware about some of basic renting terms. These really come handy, especially if you are relocating very often. In addition, knowing the basic rental terminology, would also help in sorting out the primary advantage/disadvantages of any contract. By that as it may, they would help tenants get a heads up information for utilizing them effectively. So, here are some of the basic rental terms:

Abatement

Sometimes landlords or owners offer abatement, which means free or reduced rent for a fixed period of time. This rental terminology literally means that a tenant can stay free for a fixed period of time or the tenant can pay a reduced rent for some time period.

Amenities

Primarily, the rental terminology, amenities refers to the societal features like parks, security personnels, gym/fitness centre within a society or community. These are additional benefits available for the tenant(s) within the specific society/community/township.

Furnishing

By and large, property owner(s) usually define their estates into furnished/semi-furnished or unfurnished accommodation. By that as it may, any furnished estate will have features like, bed, sofas, chairs, kitchen table, etc. On the other hand, any semi-furnished or unfurnished property would have lesser or nothing in comparison to furnished residences.

Facilities

Every flat or apartment has their own set of internal facilities/utilities. These include natural gas, water, garbage disposal pick up, cable, Internet, etc. In addition, landlord/owner can also charge certain facilities. By and large, the owners would charge extra amount for any extra facility.

Lease/Rent Agreement

A specific contract made by owner(s) to grant any of their owned accommodations for a specific time period at a specific price. A lease/ contract is also known as a rental agreement form.

Rent

Rent is the money given by the tenants to their owner every month. This is an unchanging amount given for occupying a certain space owned by the owner or landlord.

Security Deposit

A security deposit is money given by the tenants to their rightful owners/landlords for any future damages to the accommodations. The security deposit is given back to the tenants after deduction of cost of damages to the property.

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