Thursday, August 23, 2007

Renting in the US

As temporary migrant workers, we can only rent homes. Buying or leasing is out of the question.

Rented apartments are a big organized business here.

Its not like the fragmented side-business which rich people in India practice on their own and rent out their apartments. Whole buildings are let out on rent, and there are an official staff to handle all issues. Plus the service is absolutely prompt, because the longer an issue (like a pipe leakage for example) goes on, the more will be their repair costs when they sell the house to somebody else.

We have to pay big money for the rent. To the order of $800 a month, though people can get it for $600 with lesser facilities. We get cable, heating, trash free and there are 2 electronic washers/dryers for every apartment block (which too, are promptly maintained)

The Shahs, Mehtas and Dholakias of India can't come up with these business plans because they never want to do long term business. They want to make a fast buck, building a house and making crores of rupees within a year or two, and then forget all about it, moving on to kicking out some poor native families out of their century old home and earning more money selling it to urban yuppies.

Renting in the US is a service industry, one that requires dedication and the right attitude.
Plus, both renters and rentees are protected by a solid legal framework, a powerful and effective law enforcement department and a comprehensive insurance protection program.
On the whole, renting in the US is an excellent outcome of true, organized capitalisism. Not third class opportunism of desi builders.

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