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Basic Fit Outs in a Rental Property
Properties are rented with basic items that are fitted in the walls which are called the basic fit-outs. Here are the basic fit outs for different rooms and spaces:
Bedrooms, Living room (Hall) and Dining
- Tube light
- Ceiling fan
- Curtain rod with brackets
Bathrooms
- CFL light
- A mirror above the wash basin
- Towel and clothes hook bar
- Geyser
Note: 15 liters in master bedroom's bathroom
3 liter instant in others - Exhaust fan
Kitchen
- Ceiling fan
- Exhaust fan
- CFL
- Modular kitchen below kitchen top
Note: Kitchen trolleys are classified as a basic fit out when renting to a family.
Disclaimer: The opinions presented above are based on industry reports and linked news stories and are solely for informational purposes. CURA Property Services does not guarantee the information's accuracy, completeness, or reliability, and will not be held liable for any actions taken as a result of the information.
Tips for Real Estate Investing
Purpose of your Investment
Buying a property is an expensive affair so one should ask
themselves the following questions:
- Why should I invest in real estate?
- Is it to earn a passive income through rent?
- Is it for end use or high return on investment?
- Decide why you want to invest and set a budget.
Location
Location is important while buying real estate since it improves quality of life by allowing access to services and facilities close by.
This draws up interest, driving up demand and prices for houses in emerging regions.
Property Papers
Check the property paperwork and make sure the property has clear titles whether you're purchasing a property that is still under construction or one that is ready for occupancy.
Check for Occupancy certificate and RERA details for an under- construction property.
Property Research
Research for under construction property:
- Check the track record of the builder.
- Amenities on offer.
- Payment plans.
- Price per sq ft.
- Construction quality.
- Possession date, etc.
For resale property, it would be wise to check the overall quality of home and know the reason the property is being sold.
Invest early, Benefit later
Early real estate investing in the late 20s or early 30s provides crucial time for mortgage payments, money management and longer loan repayment options with lower interest rates.
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