The trend of converting homes into PG accommodations has caught on. Have you, too, been bitten by the bug? Thinking of converting your home in India into a PG accommodation? A nice thing to do. But how PG savvy are you? Are you mindful of the responsibilities setting up a PG accommodation demands?
Paying guest (PG) accommodation is big business today – thanks to the rising number of IT parks, MNCs and educational institutions luring youngsters away from home. It has become the most preferred form of accommodation for most of these youngsters. Yet it’s managed to remain relatively free from the jurisdiction of various government bodies. A PG has qualities of both rented properties and hostel – but it cannot be exclusively classified as either of them.
It’s such an enticing and pleasant prospect that even homeowners who’ve had bitter experiences with tenants don’t hesitate to convert their homes into PG accommodations. The popularity of paying guest accommodation has only increased so much so that you’ll find a number of free-to-all online portals where you can post details of your PG and even obtain relevant information for all your needs.
Converting your home into a PG accommodation – the rules
Remember, the following is inevitable when you convert your house into a PG accommodation.
Your home will be treated as commercial property once you convert it into a PG accommodation.
You’ll need to pay all your bills including electricity, water and taxes at commercial rates.
Things to keep in mind
Today there are hundreds of homes across various Indian cities that house paying guests and yet pass themselves off as residential property. Many are ignorant about rules governing PG accommodation and run their accommodations without licenses. It’s important to acquaint yourself with the rules and regulations governing PG accommodation in your own city before going ahead with your plans. Ensure that you obtain all the necessary licenses and have your papers in place before you convert your home into a paying guest accommodation.
Have you converted your home into a PG? Do you prefer paying guests to tenants? Do you have any suggestions for homeowners who want to convert their homes into PG accommodations?