What to Be-Paying Guest or a Tenant??

About 11 percent of the population lives in rented accommodation. These people may or may not be migrated. Many people don’t have their own house which is why they pay rents until they own a house. On the other hand, many students migrate to study in colleges and universities, who have no option other than to live on a rent or in hostels. Basically, anyone who does not own a house for any reason has two options with him, either to be a tenant or a paying guest. Many people might not know how these two are different from each other. To make it clear, a tenant is a person who lives in someone else’s independent house, flat or apartment and pays rent to the owner in consideration. A paying guest, on the other hand, stays with the owner, in the owner’s premises with a room or a small portion of the home booked for him. He, too, pays the rent.

There are many factors that should be considered before deciding what form of rent payer you want to be. Some of them are:

1. Sharing: A paying guest does not only has to share his space with the owner but also with the fellow guests. These days PG has become a business and people rent a single room to two, three and even four people. So, if you are social enough to adjust with all the strangers, PG is a good option for you. However, Freedom is a gift in independent units. A tenant has got all the privacy simply because he does not have to share his space with anyone.

2. Rent:  It is clear that being a tenant will cost you more than a paying guest because tenants are given independent units. However, a non-AC, non-furnished individual unit might cost you almost equal to an AC PG with food these days.Location also plays a role in deciding the rent. Your PG in a posh area might cost you more than an independent unit in a slightly backward area. If you can sacrifice certain facilities for your independence, rent should not be a problem!

3. Security: If you are not strong and mature enough to live on your own, an independent unit is not what you are looking for. Since you get a warm atmosphere in a PG, where you make friends, you will feel more secure and happy there. This is the reason students prefer PG over independent units.

4. Duration: It would be useless to spend money on an independent unit if you are going to stay for a short period, say a month or two. Adjusting in a PG for a few days is not a big deal and that, too, when you are saving money that way!

5. Number of People: If you are a group of students or colleagues who want to live together or a family, an independent unit will be suitable for you. You will then have more space and of course, freedom. Also, you all will be sharing the rent. Therefore, money would also not be a problem in case of more number of people.

6. Restrictions: Owners will always impose restrictions on you. You will have time limits to come back home, you might not be allowed to use TV at night or drink or smoke if you do that. Plus, sharing bedroom and washroom with other people could be very uncomfortable. You might end up having a fight with your roommates and getting frustrated. If you are a free bird, you must rent an independent unit.

The decision to be a paying guest or a tenant completely depends on your requirements. Being both have their own pros and cons as you have already read. I hope it helped!