Relocating to Mumbai for work often means accumulating a list of property brokers, as finding a suitable home in the city is challenging. High rents for small spaces and stringent landlord conditions make renting in Mumbai particularly difficult.
This may explain why Neil Borate, Editor of Personal Finance at LiveMint, chooses to travel from Pune to Mumbai weekly rather than permanently relocating. To avoid the hassle of renting, he stays in hotels and Airbnbs during his visits.
In a LinkedIn post, Borate shared his preference for staying in South Mumbai hotels and Airbnbs and provided a breakdown of his expenses. “Each week, I divide my time between Pune (my home) and Mumbai (for work). After some struggles, I’ve given up on renting in Mumbai. I go for Airbnbs and hotels instead,” he noted.
Borate enjoys the old-world charm of Colaba hotels and listed his top three choices: The Sea Green Hotel, The Strand, and The Westend Hotel. Booking these hotels starts at approximately Rs. 5,000 per night. He advised, “If you book these, don’t come with expectations of modern hotels. You will generally get metal keys instead of key cards. There won’t be gyms, pools, or any other fancy amenities. Instead, enjoy the great location and history all around you.”
When asked about the cost comparison between renting and staying in hotels, Borate clarified in the comments section, “So you are spending a lakh per month on hotels?” He responded, “I spend about Rs. 40,000 a month on hotels and Airbnbs, staying about 2 nights a week in Mumbai. Sometimes Airbnbs are half the price, so no, I don’t spend a lakh a month on hotels. It’s probably around Rs. 40,000, which is comparable to a 1 BHK rental anyway.”
