Archives: December 26, 2022

One-stop Rental Management for NRIs
Shajai Jacob
December 26, 2022

How Rental Platforms are Helping NRIs Monetise their Real Estate Investments

Real estate has always been one of the most attractive investments for Non Resident Indians (NRI). This interest has further gone up in the post-COVID phase with an ANAROCK report revealing that 71% of NRIs preferred investing in the Indian housing market. This was noticeably higher than the 55% of respondents who showed the same preference in the pre-Covid survey. 

The inclination toward property investments has remained despite the emergence of other avenues such as bonds and mutual funds. However, there are also many challenges, particularly in ensuring that the investment remains lucrative. Renting your home is the most preferable option since it ensures a passive income on the property, thus increasing its ROI. However, managing rentals can be extremely challenging in one’s absence. 

ApnaComplex Rentals offers an easy solution through end-to-end rental management. With a trusted Estate Portfolio Manager handling all your requirements, you can ensure that your property can accrue the highest possible returns. As a reliable and trustworthy rental platform, it is playing a vital role in helping NRI homeowners to manage and monetise their property. 

Attractive returns on real estate

There are good reasons for NRIs to pick property over other options. This faith was further renewed during the pandemic when real estate emerged as a safe bet in a turbulent global economy. Some of the reasons for this preference are: 

  • A home in India represents a powerful nostalgic connection for many NRIs.
  • As a retirement nest on their eventual return. 
  • Healthy ROI since the property is widely viewed as a safe investment with assured returns.
  • Other options like fixed deposits or gold are more susceptible to market volatility.
  • A reviving Indian economy means robust ROI. This prompts a renewed interest in taking part in the booming India story. 

However, owning a home is not without its challenges. It can be difficult to maintain a home for absentee owners. Vacant homes can fall into disrepair very quickly. Plus, even an empty home can mean indirect expenses, such as maintenance charges. 

A rental management company like ApnaComplex offers the most viable solution. NRI landlords can ensure regular maintenance of their homes by renting out their properties. The rent also helps in offsetting any loan EMIs or other expenses while ensuring a regular income. 

Rentals with ApnaComplex

ApnaComplex has emerged as the most viable solution for NRIs with properties in gated communities. As a one-stop rental management service, it can help them scout for tenants and ensure that all documentation is taken care of. 

Single point of contact: With ApnaComplex Rentals, homeowners have a single point of contact through a dedicated Estate Portfolio Manager for every gated community. This makes it easier for owners to coordinate and follow up on any new developments. 

Key management and site visits: The non-resident landlord does not have to worry about conducting site visits for prospective tenants. With multiple brokers, many owners also have the problem of leaving their keys with a trusted party. ApnaComplex Rentals offers key management where the key is entrusted to the EPM for safekeeping. All site visits are also handled by the EPM. 

Trusted tenants: One of the biggest concerns for non-resident owners lies in checking the trustworthiness of the tenant. Many people prefer to leave their homes vacant to avoid any hassles. ApnaComplex offers KYC and background checks to ensure that only verified tenants are considered.  

Maximum returns: Rental income ensures that non-resident property owners can earn a passive income on their investment. ApnaComplex ensures maximum rental yield, thus maximising your ROI.

All-inclusive services: With ApnaComplex you get access to a one-stop rental management service, from support with negotiations to rental or lease agreements. Many EPMs work with non-resident owners to ensure that all their requirements are addressed remotely and without any hassle. 

Payment services: As a complete society management app, ApnaComplex also offers a payment module for rent and maintenance charges. Landlords can collect rent, pay maintenance and common area charges. They can also check the status of various payables and get reminders in case of overdue. 

Move-in / Move-out services: With the ApnaComplex app, landlords can seamlessly manage their Move-in / Move-out requirements and ensure that all the paperwork is in order when a tenant moves in. With many societies now mandating move-in requests through the app, a homeowner can easily check all requirements remotely. You can read more about its benefits here. 

If you want to know more about ApnaComplex Rentals, write to us at rentals@apnacomplex.com.

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New feature Alert: Rentals by ApnaComplex
Paromita Datta
December 23, 2022

ApnaComplex Launches Rental Feature. Now, Move within Leading Gated Communities with Ease

Going by the latest trends in India’s top cities, finding a suitable home is becoming increasingly challenging. At the same time, homeowners are also concerned about finding the right tenant and maximising their rental yield. Keeping this in mind, ApnaComplex has launched a rental feature on its app, empowering its users to easily find tenants or their dream homes within its partner gated communities. 

With ApnaComplex Rentals, landlords can list their property on the app and find tenants with ease. Tenants can check the inventory and select the most suitable option in just a few clicks. By creating a renting system within the ApnaComplex ecosystem, it also ensures verification and trust in these transactions. 

At the same time, the platform also ensures data security for all users. As an ISO/IEC 27001:2013 Certified company, it is committed to preserving users’ privacy, meeting compliance requirements, and maintaining control. 

What is ApnaComplex Rentals?

ApnaComplex Rentals is a one-stop rental management service that can be accessed through the app. It combines a hybrid online-offline approach to provide homeowners and tenants with end-to-end rental services. Landlords can list their properties on the app while tenants can look for suitable options from the extensive inventory. 

The ease of online search and documentation is backed by offline services through a dedicated Estate Portfolio Manager who acts as a bridge between the landlord and the tenant. The manager offers personalised services such as safekeeping of key, managing site visits, and support in negotiations. 

Together, this hybrid approach ensures that both landlords and tenants can get the best from any rental transaction. To know more, read this article on the integration of data insight with personalised service. 

Features of ApnaComplex Rentals

Some of the special characteristics of ApnaComplex Rentals are:

  • Hassle-free property listing and inventory search
  • Safekeeping of keys
  • Property visits
  • Assistance with negotiations and agreements 
  • KYC and tenant/property verification
  • No subscription fees  
  • Data privacy 

Why go for ApnaComplex Rentals?

ApnaComplex Rentals offers several benefits that include: 

Verification: The feature can be accessed through the ApnaComplex app which ensures in-built verification. To list a property, homeowners have to select from their approved home in a gated community. Since a unit is typically added only after due diligence by the society Management Committee (MC), the landlord’s credentials are automatically confirmed. The same rule also applies to tenants whose credentials have been similarly verified. This verification is also backed by our team of dedicated estate managers. 

Convenience: With ApnaComplex, landlords can list their property with ease and find tenants without any hassle. Similarly, tenants can search for suitable options from an extensive inventory with just a few clicks. As a one-stop rental management system, it offers end-to-end assistance that includes tenant KYC, support with negotiations and drafting rental / lease agreement. The estate managers are also responsible for the safekeeping of keys and handling all site visits.  

Freedom multiple brokers: Typically, people have to deal with multiple brokers when finding a tenant or a rental home. This can mean a disruption in one’s schedule and a sustained effort. With ApnaComplex Rentals, you have to deal with a single estate manager. 

Home in gated community: The ApnaComplex Rentals connects landlords and tenants in the app ecosystem which includes gated communities by some of the leading developers. It means that your future home can be in one of the best-managed communities in India. Gated communities have emerged as a desired address because of the hard work of MCs and Resident Welfare Associations (RWA) that is further facilitated by ApnaComplex to create a high liveability index in these communities. 

Ease of Move-in / Move-out: With the Move-in / Move-out feature in ApnaComplex, landlords, tenants, and societies can manage their move-in or move-out smoothly and completely digitally. Read more about its benefits here. You can also know more about setting it up in this brief tutorial. 

Discounts on services: Now, save money when moving homes! get discounts on some of the essential services associated with relocations, from movers and packers to painting, cleaning, and pest control with the ApnaComplex app. 

In short ApnaComplex Rentals can help you manage all your rental requirements on a single platform. If you want to know more about ApnaComplex Rentals, write to us at rentals@apnacomplex.com.

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Paromita Datta
December 14, 2022

Forget Visitors, Are you Automating Vehicle Tracking in your Society

Visitor management is often the biggest concern for gated communities. Most Management Committees  and Resident Welfare Associations spend lakhs of rupees a year in overviewing visitor entries. However, vehicle management rarely gets the same attention. Traditionally, they have relied on manual systems which can be both time-consuming and ineffective. Quite often guards miss or make mistakes when noting the number for each vehicle.

ANPR or Automatic Number-Plate Recognition solutions have emerged as a more viable and efficient tech-first alternative. By automating vehicle tracking functions, it makes it both efficient and effective. ApnaComplex now facilitates ANPR integration at society gate for easy vehicle tracking and management. By integrating it with the society ERP, the admin can effectively monitor vehicles that enter the society.  

What does ANPR mean?

ANPR stands for Automatic Number-Plate Recognition. This technology uses optical character recognition to read registration plates. To simplify, ANPR captures the vehicle’s image, detects the number plate, and then recognises the characters. Thus, it can read the number plates of vehicles. 

Originally ANPR was aimed at creating vehicle location data. It was widely used in traffic management and law enforcement for surveillance. In recent years, it has adapted as part of parking or vehicle management systems in areas with high vehicular traffic. This can include gated communities and public buildings like hospitals. 

Why go for ANPR integration?

ANPR cameras are installed at society gates to monitor vehicles entering and leaving the society. Although it makes the system more efficient, we still see unwillingness in adopting the technology which can stem from general hesitation towards new technology or reluctance to spend the money. However, this is a short-term approach that ignores its considerable long-term benefits, such as:

Real-time tracking: With ANPR integration, you can track vehicles entering the society in real-time with residents receiving notifications. Since this data is stored digitally, both residents and the admin can access it at a later date. 

Automatic entry: ANPR integrated with gates and barriers reduces wait time at the society gates. It ensures that the boom barrier is lifted whenever a registered vehicle is detected. At the same time, the data is stored automatically and without any manual intervention. This reduces both time and effort in vehicle management. 

Better security: ANPR technology has been used for decades to detect vehicles for law enforcement purposes and this also makes it useful for vehicle monitoring at the gate. It can be configured to ensure that boom barriers open up only on the approach of a registered vehicle. With real-time tracking, it also informs residents if their vehicle is entering or leaving the premises without their knowledge. 

24/7 tracking: Unlike a legacy system that relies on guards at the society gates, ANPR ensures that vehicle tracking is 24/7. As a mechanised and automated system, it does not depend on human monitoring to ensure that vehicles are tracked at all times. 

Integrating with ApnaComplex 

With ANPR integration, ApnaComplex offers a single platform to track all vehicles. The ANPR cameras detect and read the number plates. The ApnaComplex ERP then informs residents through real time notifications. This integration ensures that ANPR solutions can be adopted with minimal disruptions. It automates vehicle management systems, strengthening the security of the premises.  

If you want to know more about ANPR integration, write to us at support@apnacomeplex or call at 80886 11229. Our team will help you understand how you can integrate ANPR to improve vehicle tracking in your society. 

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Looking for a home? Follow our tips
Paromita Datta
December 8, 2022

LinkedIn Profiles & Rising Rents: How to Hunt for a Home in a Landlord’s Market

If you are looking for a home in cities like Bengaluru or Mumbai, chances are that you have been having some bad luck. Apart from the circus of juggling between different brokers, there are now landlords who want a CV that seems more demanding than a high-position job in a Fortune 500 company. 

This makes it challenging to look for a home in a high-demand location. All too often we may be settling for less than the desired goal. ApnaComplex makes the process easier by taking the hassle out of this search. You can now search for your next home in a gated community with just a few clicks and benefit from end-to-end rental management services, including negotiation support. 

Why is it a Landlord’s Market?

The residential property market has bounced back with a bang after a nearly two-year COVID slump. This can also be seen in the housing rental market where rents have gone up by at least 10%-20% across every major city. There are multiple reasons for this jump, including: 

  • People moving back to metros as offices open up
  • It’s a long overdue correction on rent hikes 
  • A lagging supply coupled with high demand means that landlords can dictate their terms. 

You can read our article on the rental boom to understand the factors driving the demand and why it’s here to stay. 

Tips for Scoring a Rental

It helps to be prepared in a highly competitive rental market. You can ease the effort of finding a home by being smart and strategising ahead. 

  • Keep your paperwork ready. This can include bank statements and references
  • Make sure you have enough funds to make the security deposit. This should be available at short notice.
  • Have realistic expectations. Do some research on prevailing rental rates to estimate how much you may have to pay. 
  • Keep your references ready. This can include testimonials by employers, past landlords, and other trusted sources. 
  • Put your best foot forward. It’s not unusual for landlords to ask for an interview or call before finalising a tenant. Make sure you are ready to make your case.  
  • Search ApnaComplex to find the best options.

Finding a Home with ApnaComplex Rentals

Now, you can easily find your next home with ApnaComplex Rentals. The easy process allows you to look for a home in a gated community. You can find a verified landlord and get extensive support in finalising your rental home. 

  • Search for home by your preferences 
  • Go through extensive property listings
  • Submit your details
  • Get access to gated communities in the ApnaComplex network

To help tenants in a competitive rental market, Estate Portfolio Managers (EPMs) manage end-to-end rental requirements that include rent negotiations, helping both landlords and tenants to reach a mutually beneficial agreement. With KYC and background checks, they also help tenants in assuring landlords of their dependability. As a trusted and verified platform, ApnaComplex Rentals creates a smooth and fast funnel to source and finalise homes. 

Tenants can also benefit from discounts on a wide range of home services, including movers and packers, cleaning and pest control services. In short, they can meet all their needs, from finding a home to leading negotiations and moving in, on a single platform. 

Learn more about navigating the landlord market in our article here. If you want to know more about ApnaComplex Rentals, write to us at rentals@apnacomplex.com.

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Why you need ApnaComplex Move-in/Move-out
Paromita Datta
November 28, 2022

Why you must Record Resident Movement with ApnaComplex Move-in / Move-out

Every residential complex has a transient population. Residents moving in and out can include both homeowners and tenants. A society Management Committee (MC) or Resident Welfare Association (RWA) has the critical task of recording this data. This is important for multiple reasons, including invoicing and security. 

Typically, this would depend on manual verification by the MC. Even then, some gaps would often remain in recording the data. This could later cause problems in updating the resident database. ApnaComplex digitises the entire process with a new feature – Move-in / Move-out. It empowers the MCs and the admin to completely automate the process of recording and invoicing resident relocations from the society, thus increasing efficiency. Read the article to know more about the benefits ApnaComplex Move-in / Move-out.

Challenges in recording resident movement

Despite every effort, society MCs and admin often faced certain challenges in recording the data on residents moving in and out of the society, including:

  • Failing to add people who have moved in or removing people who have moved out from the residents’ register. 
  • Residents who have moved out still have access to the ApnaComplex app, including communication.
  • Residents who have moved in are unaware of ApnaComplex. Thus, they fail to leverage the app for booking facilities or when making payments. This can lead to chaos and confusion in overall operations. Lapses in digital payment through ApnaComplex can result in accounting gaps. 
  • The MC can miss levying moving charges in time. This can mean losing out on revenue or failing to recover from losses due to any damages. 
  • Security can be compromised by failing to record resident data.

Benefits of ApnaComplex Move-in/Move-out

The digitalisation and automation of the process have many benefits, including: 

Real-time dashboard: With ApnaComplex Move-in/Move-out, the admin has a real-time dashboard for all residents who are moving in or moving out of the society. 

Approvers & workflow: Create Approver Hierarchy Levels and the process of request approvals. This is essential in fixing responsibility and accountability. It also ensures that unaddressed requests are resolved quickly. 

Customisation: Every society has different rules for authenticating residents. Some may need just a verbal assurance while others may want documents like lease agreements. ApnaComplex Move-in/Move-out allows complete customisation to ensure that these different requirements can be accommodated. 

Payment automation: One of the most tedious and challenging tasks when managing resident movement from the society is the calculation of all pending dues. Any gaps in recording payments can result in missing payments and a drop in revenue. ApnaComplex Move-in/Move-out automatically calculates these pending payments, ensuring that the resident completes all payments before moving out. 

Move-in / move-out invoices: Without prior notice, admins can often miss out on issuing move-in / move-out charges. This fee is necessary to offset any damages that may occur during the resident moving out. It can be impossible to recover once they have already left. With ApnaComplex Move-in/Move-out, you can automate the process, ensuring the resident is billed the moment they send the move-out form. Similarly, moving-in requests are also billed at the right time. 

Automated data entry: Typically, the admin has to update all records with new data. This is often a manual process that has to be double-checked. With this feature, information is updated automatically, ensuring there are no errors or gaps in the data.

Digitised KYC: Knowing the details of each resident is a key security requirement. MCs and RWAs lay heavy emphasis on KYC for this reason. However, paper documents can get damaged or lost. ApnaComplex Move-in/Move-out makes documentation digital. These can be retrieved at any time to know the resident’s credentials. 

Need more clarity? Read here for a brief tutorial about ApnaComplex Move-in/Move-out. 

If you want to learn more, get in touch with us at support@apnacomeplex or call at 80886 11229. Our team will help you customise and leverage the feature to improve efficiency, ensure proper datakeeping, and increase transparency. 

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New feature alert: Move-in / Move-out
Paromita Datta
November 22, 2022

Launching Move-in / Move-out: How to Set up & Raise Requests

Large residential complexes often have a large number of transient populations. These may be tenants who are likely to move out in a few years or homeowners who have to move to a new city or country. The process of tracking and supervising resident movement thus, is one of the biggest tasks for the Management Committees (MCs) and Resident Welfare Associations (RWAs). Yet, it can also be highly challenging, requiring constant scrutiny and tedious manual verification.  

ApnaComplex resolves these challenges with the introduction of a Move-in / Move-out feature that completely automates the process. It addresses the gaps in security, accounting, collections, and documentation. With a real time dashboard of resident relocations, it also facilitates transparency, accountability and promotes digitised behaviour.

What is ApnaComplex Move-In / Move – Out?

ApnaComplex Move-in / Move – out is a nifty new feature that has been added to both the app and the ERP. It allows people to submit moving requests, upload documents, and receive approvals. Admins can track these through the ApnaComplex ERP dashboard. The system automates almost every aspect of the process, making it efficient with easy access.

The automation and digitisation of the process ensures that every resident movement is immediately recorded. It also facilitates the collection of relevant documents and makes sure that the admin can levy moving charges on time. The new feature offers multiple benefits. It makes data sacrosanct, facilitating its collection, storage, and tracking. It also promotes digital behaviour among residents and admin, which ensures that data is collected at source and immediately recorded. 

How Move-in / Move-out works

The move-in / move-out feature is available on both the app and the web ERP. It is available by default in all ApnaComplex communities. It can be disabled if not required. The admin or MCs can reactivate the feature by enabling it under the ‘Community Settings’. The MCs can also appoint role-based access for the approval process, including the Approval Hierarchy Levels (AHL). This ensures that only the designated person can approve or reject a request. 

Setting up the process

  • Start with the move-in / move-out form. Admin can start the process by clicking on the Move-in / Move-out tab in the Helpdesk. They can create the form as per requirements. The customisation of the form allows an admin to include mandatory fields such as pan number or uploading documents like lease agreement. The admin can also add a checklist of community guidelines that the applicant must accept to be approved. 
  • Set up workflow and ALH. The workflow lays down the process while the ALH specifies the people responsible for verifying and approving all requests. It also defines the escalation matrix in case of any concerns. 

Raising Move-in request

  • Sign into the app, search for your community.
  • Raise a Move-in request. Fill unit details and select the ‘Moving-in’ option under ‘Residing status’. 
  • Fill the Move-in form and upload the required documents
  • Move-in request is sent to the approvers and automatically routed to the Admin dashboard.

Approval process

  • The approvers and members receive email and in-app notifications 
  • Homeowner requests are sent via email and app to only the approvers. Tenant requests, on the other hand,  are sent to both the approvers and the homeowner.
  • Pending or rejected Move-in requests land on the ‘Remind Admin’ screen. Clicking will ensure that reminder emails are sent to admin for approvals.
  • Admin will receive reminders in case a Move-in approval is pending or rejected                                                      
  • Homeowners receive their own Move-in approvals via email and in-app notifications. In case of a tenant, approval is informed to both the homeowner and the tenant by email and in-app notification. 
  • Rejections are sent via email to only the Owner

Post-approval

Once the Move-in request is approved, the member can login to the app which will land on the community homepage.

Raising Move-out request

  • A Move-out request can be raised on the ApnaComplex app from the Account tab. Select your Unit details and click the floating ‘+’ button. You will see the ‘Move out’ option
  • Fill the Move-out form. It will consist of the Move-out date. Homeowners will also get the option of selling or renting out.
  • Move-out request is sent to the approvers who can also view the request on the ApnaComplex Admin Dashboard
  • Approvers and members receive emails and app notifications on the Move-out request.
  • Owner requests are sent via email and app notifications to the approvers. The owner can also receive and approve the request in case he/she is also an approver.
  • Tenant requests are sent to the approvers via email and app notification. The owner will be notified if he/she is also an approver. 

Approval process

  • In case of a pending request, the applicant can click on ‘Remind admin’. Subsequently, the admin will receive a reminder email. 
  • Tenant Move-out approvals are sent by app notification to the tenant, approvers and the homeowner. The approvers and the homeowner will also receive an email. 
  • In case a request is rejected, the tenant will receive an app notification while the owner will be notified by email. 

Deactivating the users post approval

Tenants are deactivated from the app once the Move-out request is approved. Homeowners are deactivated if they are selling their property. In case the homeowner is simply moving out, their residing status is changed to NO. However, they can still be active in the community. 

Joining another ApnaComplex community

  • To join another community, go to the Account tab and click on ‘Join Another Community’
  • Search for the community and start the move-in process. 

Ensure a smooth approval process by going through this article on Dos and Don’ts to follow before submitting your approval form.

To know more about the Move-in / Move-out feature, write to us at support@apnacomeplex or call us at 80886 11229.

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Building sustainability With eMobility support
Paromita Datta
November 15, 2022

Gated Communities Must Move Towards eMobility. Here’s How

As Electric Vehicles (EVs) gain wider prominence, the focus has shifted towards strengthening the supporting infrastructure. Resident Welfare Associations (RWAs) and Management Committees (MCs) must share the onus of eMobility by encouraging installation of EV charging stations. The adoption of these measures is critical in ensuring that residents have the support they need to deploy EVs.

Despite its importance, the adoption of EVs is still lagging in many gated communities with a number of RWAs expressing reluctance. However, this is a shortsighted approach since EVs are likely to gain an increasing acceptance in the automobile sector. Failure to adapt to this changing environment can result in conflict and push back any sustainability initiative. 

ApnaComplex offers comprehensive support for RWAs and MCs to help them adopt EV charging stations at no extra cost. As a value-added service, it is a critical part of improving the living conditions in gated societies. 

eMobility Policy push

The government has been pushing for EVs as part of its net zero goals and to reduce its dependence on fossil fuels. As part of their focus on sustainable and clean mobility solutions, state and central governments have taken various initiatives to meet this goal. The National Electric Mobility Mission Plan lays the roadmap for faster adoption of EVs.

As part of these initiatives, various governments have been transitioning from fuel-guzzling public transportation into EVs. They have also asked for greater public-private partnerships to further push e-mobility. These measures combined with a wider international demand for sustainable solutions have also resulted in a manufacturing push in EVs. 

As the technology improves and the government continues to leverage e-mobility, gated communities will see more EVs. This will raise the demand for charging stations as more residents look for eMobility solutions within their residential complexes.

Embracing e-mobility in gated communities

Supporting infrastructure is one of the biggest challenges in the adoption of EVs. The government has tried to resolve this by promoting battery swapping stations across the country. However, the most critical requirement for EV owners is the availability of charging points at home. Apartment complexes can be at a disadvantage since people cannot charge their vehicles at home. 

RWAs and MCs should see this as an opportunity to meet their sustainability goals. The installation of charging points in parking areas is critical in meeting this objective. It will allow residents to charge their vehicles at home. As the government tightens e-mobility regulations and more people choose EVs, the availability of charging stations is emerging as one of the prime requirements in gated communities. 

Challenges in installation of EV charging points

Despite its importance, there are challenges in installing charger points. These include: 

  • High charger and installation costs. 
  • Coordinating with multiple parties
  • Allocation of power supply
  • Creating a charging schedule for residents 

These challenges have been the major stumbling block in the adoption of an EV-friendly infrastructure in gated communities. While the number of EV or hybrid vehicle owners are increasing, quite often there are not enough numbers for the additional investment. 

How ApnaComplex facilitates eMobility

As a complete society management solution, ApnaComplex offers value-added services for societies. This includes sustainability solutions like installation of EV charging points at no extra cost. The installation of EV charging points through ApnaComplex has multiple benefits, including: 

Free installation: Societies do not have to pay any capital amount for installing EV charging stations.

Earning revenue: Societies have access to additional revenue sources through electric vehicle brand activations. They can earn rent from EV companies for brand placements.

Building sustainability: The availability of charging stations in their parking lot can encourage more residents to buy EVs. Thus, societies can facilitate the objective of meeting net zero goals. 

Resident satisfaction: Meeting the emerging needs of residents is important in ensuring resident satisfaction. It reduces conflict between residents and the MCs.

Meeting Government’s green vision: An EV-friendly infrastructure will be critical in meeting the green goals. With the government expected to further tighten regulation on EV adoption, gated communities must be prepared to meet the transition.

You can read about ApnaComplex previous EV charging associations here. If you want to learn more about our EV charging offerings, get in touch with us at support@apnacomeplex. Our team will help you understand the best way to adopt an EV charging infrastructure.

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Buy or rent home
Paromita Datta
November 10, 2022

Renting Vs Buying: What Works Best for You

A piece of age-old financial advice in India revolves around investing in real estate. It is considered the ultimate financial goal and still holds for many people. Yet, with property prices soaring in metro cities, buying a house can be simply too unaffordable for most people. For young professionals, particularly, renting is often the only option. 

Both renting and buying have their own advantages and disadvantages. Often it comes down to finances or particular requirements at the time. Young professionals and first-time buyers should weigh these pros and cons before making a decision.

Why buying is still preferred

Real estate has held its value as the preferred asset class. There are multiple reasons why buying can be beneficial. At the same time, it may not be a viable option for others.

Emotional connect: As a roof over their head, a home represents a safe haven, especially during difficult times. The pandemic underscored this further as homeownership regained its worth during an uncertain time. The sense of security associated with homeownership saw housing sales spiking in the top seven property markets in India. The current economic uncertainty is further spurring this demand. 

Valuable investment: Real estate is one of the most valuable investments because of assured returns. Property can appreciate by more than 10X and rarely ever suffers from loss. In contrast, other investment options are often a toss-up between stability and high returns. In an uncertain global economy, real estate is one of the most stable investments. 

No disruptions: Owning your own home means that no one can evict you on short notice or be forced to move because of a rent hike. You can settle down and avoid the disruption of packing up and resettling after every few years. 

Asset ownership: Given property values today, EMIs can be considerable. However, it brings you closer to owning a physical asset. This is in contrast to rents that are pure expenditures with no long term returns. 

Cons

The biggest roadblock in real estate investment is soaring property costs. With high EMIs, homeownership is often unaffordable for many people. For people with high financial liabilities, low income or lack of any monetary support, the monthly EMIs can be impossible to meet. Homeownership also involves additional expenses such as taxes, maintenance, and utility costs. 

When renting makes sense

There is an increasing move towards renting, especially among younger professionals who want to avoid long-term financial commitment.

Affordable: It can seem more affordable since rents can be lower than EMIs. This can be the decisive factor for those with limited income and other financial liabilities. 

Choosing a location: Renting allows you to live in a prime location near your office or school where property prices may be too high.

Freedom to move: A rented home is ideal for people who want to stay on the move. It allows you to relocate without any hassle. You can simply pack up and leave when you wish. 

Convenience: In a rented property, your commitment is limited to paying the monthly rent. It frees you from the hassle of paying taxes or other additional expenses. 

Cons 

Although rents can be lower than EMIs, ultimately they are expenses without any long-term returns. With a rented home, you may also be forced to move after every few years which can be expensive and highly inconvenient. The temporary nature of a rented home also makes redundant any investment in improving or changing the interiors. 

Making rentals easier

There are advantages and disadvantages attached to both renting and buying. ApnaComplex Rentals resolves these challenges by bringing them both on the same platform to create a smooth and seamless process. As an end-to-end rental management service, it offers homeowners multiple benefits, including:

  • Tenant scouting 
  • Tenant KYC and background check
  • Key management 
  • Move-out assistance
  • Documentation support, including assistance with rental agreements 
  • High rental yield

At the same time, ApnaComplex Rentals makes the process equally seamless for the tenant. With a unique insight into gated communities, it eases their rental journey with multiple benefits, including:

  • Ensuring verified landlords
  • Assured supply
  • Move-in assistance 
  • Rental agreement support
  • In-app rent payment through credit card or UPI
  • Timely reminders for rent payment
  • Access to home services, such as home cleaning and interiors.

If you want to know more about ApnaComplex Rentals, call us at 0120 71173344 or write to us at rentals@apnacomplex.com.

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Facility Management Optimise & Reduce Costs with Centralisation
Paromita Datta
November 8, 2022

Facility Management: How Centralisation is Changing the Game

Modern residential complexes are prized for the facilities they offer. These include recreational and wellness amenities facilities like clubhouses and gyms. Their maintenance and operation are seen as a necessary part of the superior living experience offered by these gated communities. It is the reason residents are willing to pay the extra pennies for maintenance. 

This makes facility management a key function for every Management Committee (MC) or Resident Welfare Association (RWA). Traditionally, facility management has depended on different tools that have to be consolidated by the MC or the property manager for an overview. Apart from being inefficient, this would often result in gaps and errors.

ApnaComplex offers a centralised platform for coordinating various facility management tasks. This includes asset management, facility booking, and inventory tracking. The centralisation of all tasks on one platform has multiple benefits that can improve efficiency while ensuring cost optimisation. 

What is centralised facility management?

Facility management is concerned with the general upkeep, maintenance, safety, and sustainability of the society. This includes building grounds, infrastructure, and maintaining equipment. Centralised facility management refers to digital tools that facilitate these functions from a single digital platform. 

Benefits of centralised facility management

There are multiple benefits of centralised facility management, including:

Managing reservations: In a large residential complex, one of the key tasks for society admin is to handle facility reservations. This includes gym, salon, or restaurant bookings. The automated system ensures that there are no double bookings. More importantly, centralisation allows the admin to view, accept and reject bookings.

Data insight: One of the biggest advantages of a centralised facility management system is its data insight. It provides us with automated comprehensive reports on booking, revenue, and usage. This data is important in understanding the overall use of facilities, the cost of running them, and the revenue generated. 

Strategic planning: Data insight gathered from ApnaComplex centralised facility management system is essential when setting long-term / short-term goals, making budget allocations or planning new developments. For instance, overbooking of salon services could indicate the necessity to expand these services. 

Operational efficiency: Legacy facility management systems are plagued by multiple inefficiencies, including manual bookings and the necessity to juggle with different solutions. The centralisation of these functions on a single platform makes it easy for the admin to coordinate different functions. They can view maintenance history, track inventory, and asset performance. Similarly, empowering residents with in-app reservation booking removes the need for any manual intervention. 

Automation: ApnaComplex automates many of the manual tasks in facility management, further improving efficiency. It provides instant access to asset service histories, inventory usage, and invoice generation, thus, saving time and effort. 

Enforcing regulations: When used judiciously, ApnaComplex is an important tool in enforcing regulations. As a central repository, it ensures that all residents are aware of the facility usage rules. To ensure further compliance, admin can also leverage facility booking. For instance, they can reject bookings from residents who fail to pay their maintenance bills.  

Ensuring sustainability: One of the major objectives of facility management is to ensure the sustainability of premises. ApnaComplex facilitates long-term sustainability through asset management and inventory tracking. Admin can track service history and set reminders for timely servicing. This ensures that all facilities run smoothly for the long term. 

Cost effectiveness: The ultimate goal of facility management is cost optimisation. Centralisation improves overview, empowering the admin with quick and precise insight into the overall consumption patterns, revenue generated, and cost of repair and maintenance. This aids financial control and can be instrumental in cutting down costs. 

If you want to learn more about the ApnaComplex facility management module, get in touch with us at support@apnacomeplex. 

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Decoding the rental boom
Shajai Jacob
November 2, 2022

Rental Boom: What’s Driving it & Why it’s Here to Stay

The rental industry is on an impressive comeback trail. After the initial setback of COVID first phase, the industry has bounced back this year, reporting an impressive surge in residential rentals across the country. In cities like Bengaluru, rents have shot up by as much as 40%. Other metro cities have seen similar hikes

Apart from the resumption of the economy, this rebound also has far-reaching consequences for urban planning. It shows a healthy upward swing in real estate ROIs. It can be a decisive factor in determining future developments and further urbanisation. It will further encourage consolidation in the rental industry.

This is evident by the strengthening of emerging players like ApnaComplex Rentals in streamlining the system. By leveraging technology to resolve existing challenges in the system while creating an improved user experience, ApnaComplex Rentals is playing a critical role in bringing accountability and expediting lagging processes. 

What’s Driving It?

To understand this momentum, we have to look at the factors driving the revival. These include: 

A correction: The surge in rentals can be viewed as a long overdue correction. In the economic upheaval of the pandemic, many landlords were forced to cut back on rents. Many also agreed to postpone rent collection. Apart from requests from tenants, they also faced political pressure. As a result, rental hikes were kept in stasis in 2020-21. Hence, the current hike indicates a correction as homeowners aim to recoup their losses.  

Opening of offices: As economic activity resumed and the lockdown was removed, migrant workers and professionals started streaming back to their work. This led to looking for rented homes in metropolitan areas, pushing up the demand. According to an ANAROCK report, the hike in rental demand in the top seven Indian cities has been an impressive 10-20% in 2022 as compared to the pre-pandemic period in 2019. 

Lagging supply: Even as demand goes up, supply has seen a reversal. Inventory swiftly dwindled as construction came to a virtual halt during the initial phases of the pandemic, leading to an imbalance between demand and supply. The result is that landlords in high-demand areas like gated communities are seeing an unprecedented surge in rental incomes. 

The Road Ahead

The question now is whether it’s a brief corrective surge or will we see a consistent upward swing in rentals? All indications point towards the latter possibility. As companies encourage more employees to come back to office, demand for housing will spike further. The current pace of real estate construction projects is not fast enough to keep up. This means that rentals may continue to rise for some time. 

Most importantly, the growth of the rental industry will come across different segments and not just gated communities. With the government expected to renew focus on affordable housing, tenants from different income classes will find more and better options. With more states expected to adopt the Model Tenancy Act in the coming months, the rental industry will also see much-needed transparency and regulation.  

It is expected to facilitate further consolidation of organised players like ApnaComplex Rentals. This will lead to focus on maximising rental yields for landlords while ensuring that tenants get quick delivery and value for their money. 

Creating a Paradigm Shift

The surge in rentals is now being led by organised players like ApnaComplex. Traditionally, the rental industry has been dominated by unorganised local brokers who were challenged by lack of resources in terms of technology or manpower. ApnaComplex is changing the status quo by providing benefits for all stakeholders including homeowners, the society, and tenants. 

In a first for the industry, ApnaComplex Rentals offers the society a fee share from rental transactions. It also ensures a higher rental yield for the landlord (by 4.5% to 5%). This is further enhanced by a lower three-week transaction fee, as against higher market operating charges, ensuring maximum gains for the landlord.  

If you want to know more about ApnaComplex Rentals, call us at 0120 71173344 or write to us at rentals@apnacomplex.com.

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