One of the interesting trends to emerge in the rental industry is the mandate model. Home rental companies work with Management Committees (MCs) or Resident Welfare Associations (RWA) to manage rental properties. It’s a win-win arrangement that can help rental companies, homeowners, and community bodies.
What is a mandated rental model?
Home rental companies tie up with MCs or Resident Welfare Associations RWAs to exclusively manage rental properties on the premises. While homeowners are not mandated to follow this arrangement, they often choose to because of the convenience. With a unique insight into the community, ApnaComplex Rentals offers homeowners the best chance to capitalise on their transactional property.
While the rental company benefits from a strengthened portfolio, what do MCs and RWAs stand to gain?
You cannot choose your family, but you can choose your neighbours. The emotional health of a community depends on the people who live there. Untrustworthy tenants are a flight risk. Other than rent and maintenance fees they can disappear without compensating domestic staff, workers and small businesses like grocers.
ApnaComplex Rentals helps minimising the occurrence of such incidents by vetting eligible candidates. A thorough background check and KYC is carried out to ensure that the tenant’s credentials are accurate.
Boosting occupancy rates
Full occupancy is also beneficial to the MCs and RWAs. It ensures a maximal collection of maintenance fees. With a healthy corpus, MCs can undertake community initiatives. More people also help in creating a vibrant society. ApnaComplex Rentals can help in meeting any occupancy rate gaps by helping landlords to search for new tenants.
Improving property value
One of the biggest objectives of home rental companies is to improve the property’s rental yield. ApnaComplex Rentals has facilitated transactions with rental yields as high as 4.2%, well above the industry average of 3.6%. This has a direct impact on the investment value of a property, hence, benefitting other homeowners in the society.
A mandated model is based on a single home rental company handling all transactional requirements. While some homeowners may still choose other brokers, most prefer to go with the rental company. This also minimises disruptions caused by repeated visits by different brokers.
ApnaComplex Rentals offers value-added services including support with the rental agreement and negotiations. The platform also offers comprehensive all-inclusive solutions including move-in / move-out services and online rent payment.