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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.


A Landlord’s Guide: 4 Things To Consider While Renting Out Your Apartment

As buying land or property is typically an expensive affair, renting an apartment becomes the preferred option for large sections of people, be it the newlyweds or those moving out to live closer to a workplace. In an atmosphere where affordable housing is in high demand, renting out your apartment is beneficial to you. So if you are looking to do so, here are the four important things you should consider

I. Offer a market-competitive rent

Deciding on the rent you will charge is important. Renting out your apartment is a competitive affair. You will need to be aware of the average rents being charged in your area. Once you’re aware of the number, you can set your rate depending on more or less what you can offer to the prospective tenants.

Consider quoting a reasonable rate. If you quote low, you may end up with many tenants, but at an opportunity cost. On the other hand, if you quote too high, you risk not getting approached at all.

II. Draft a water-tight, but fair, rental agreement

There are just a handful of things you need to know about laws, including contracts and insurance. The laws are more or less balanced. They’re neither tilting towards the owner nor the tenant. Verification is made mandatory for signing the rental agreement.

Take professional help if required in drafting the rental agreement. It will make you as well as your tenants confident, as it will protect the interest of either party. Ensure that the agreement contains such information as the description of the entire property, facilities provided, the date on which the rent should be paid every month by the tenant, a clause related to termination, security deposit, maintenance charges, and TDS.

Add anything else you think is important, and state explicitly. Any difficulty in understanding the agreement should be avoided.

III. Ensure you have all documents ready

One of the three important documents, namely lease deed, rental agreement, and license agreement will come in to use while renting out your apartment. If you’re renting out your apartment for a period of fewer than eleven months, you will require the rental agreement. For a period of more than eleven months, a registration is necessary. You then need to issue a lease deed. The expenses will be shared between you and your tenant. The local police should have a copy of all the necessary tenant details.

IV. Get the house ready for the move-in

Renting out your apartment involves a certain amount of commitment on your part as well. It’s your responsibility to ensure that your tenants are provided with a healthy and safe living environment. Consider having the entire house cleaned up and checked for electrical safety. Ensure all leaks and breaks are fixed.

What is more is, you have to provide your tenants with a signed receipt for rent payments. Lastly, at the time of eviction, it is important to serve a notice period (by both you and your tenant.) This notice period should be specified in your rental agreement. Again, this helps safeguard both the parties in the agreement.

As a landlord, these are the aspects you need to address. Eventually, we are sure your apartment will be a popular choice among tenants.


How to navigate a landlord's market

It’s Boom Time for Rental Housing Demand. What Does it Mean for You

The rental housing market is going through a boom with major metros seeing a hike in prices when compared to the pre-COVID period. Housing rents in Mumbai Metropolitan Region and Bengaluru have gone up by as much as 15-20%. In Pune, the hike is anywhere between 10-20% while the NCR has seen a 10-15% rise. Similarly, rents have gone up by 8-10% in Chennai and by 5-10% in Hyderabad and Kolkata. 

What do these developments mean for landlords or tenants? Even as property owners try to maximise their profits, what can it hold for renters who are desperately seeking suitable accommodation? How do both of them find the best possible deal? 

If you need help in navigating this landlord market, ApnaComplex offers a one-stop rental and resale management service. The all-inclusive services start with scouting for rentals, and includes assistance in digital rent agreement, move-in/move-out, and collecting rents. 

The Housing Rental Boom

This price hike indicates a much-needed correction after a two-year-long COVID slump when rentals were slashed or plateaued. Job losses coupled with many professionals moving to their hometowns saw rentals falling in metropolitan areas while there was increased interest in smaller towns. 

As offices open up and people return from their hometowns, there has been a surge of demand in bigger cities. On the other hand, new developments came to a halt during the last two years, resulting in the current shortage of housing options, especially in premium gated communities. Together, these factors have led to a landlord’s market where the homeowner pretty much gets to set the terms. 

As a Landlord

For homeowners, it makes sense to cash in on the current boom to recover losses. Apartments, condos, or villas in most gated communities are likely to find takers within minutes of posting a listing. In this scenario, there are two key factors that homeowners have to keep in mind:

  • Finding out the rentals in the area to ensure maximum yield
  • Ensuring a reliable tenant who has the capacity and willingness to pay rent on time. 

These issues can be challenging for many homeowners, especially if they are not located in the same area. With fluctuating rentals, it can be difficult to keep track of the current rates. Similarly, tenant verification takes time and effort that may not be possible for every homeowner.

With ApnaComplex, Rentals homeowners have the means to meet all these requirements in one place. Through a dedicated Estate Portfolio Manager (EPM) they are informed of current rates. The manager also helps homeowners to scout for suitable renters, assist in the move-out process, and carry out tenant verification.

As a Tenant

A landlord market means a tough time for tenants as they scramble to find suitable accommodation within their budget. In this scenario, they may be forced to pay more than expected while settling for a home that is often less than their ideal standard. For tenants the main factors to keep in mind are:

  • Finding the best deal for their money
  • Ensuring a rental agreement is in place 
  • Go with a verified landlord

As a rental management service, ApnaComplex helps both the tenants and homeowners reach a mutually agreeable deal. This is followed by a duly-signed rental agreement to protect the interests of both parties. A verified repository of rental properties means that tenants can also trust the veracity of the listings. With an EPM acting as a single point of contact, the platform also eliminates the need to work with multiple brokers.

As property owners aim at maximising their rental yields and tenants try to find a suitable accommodation, ApnaComplex offers them a highly viable alternative where both parties can find an acceptable solution. With reduced fee for ApnaComplex users and no upfront or sign-up fee, it is also a more economic alternative.

If you want to know more about ApnaComplex one-stop rental management service, call us at 0120 71173344 or write to us at rentals@apnacomplex.com


5 Things to Check Before Renting Your Next Home

Looking for Rentals in a Gated Community? Factors You Must Consider

Gated communities offer a high living standard with several easily available amenities and facilities. Hence, making it an attractive option for a rental. With easy access to repair and maintenance services, sporting facilities, and add-on amenities like clubhouse, salon, and spa, these societies have emerged as the most preferred address for the urban dweller.

However, given associated costs like maintenance charges, rents in gated communities also tend to be higher than average. When we consider the skyrocketing rentals today, it can constitute a major bulk of your income. As this will also be your home for the immediate future, it is highly worthwhile to make your choice after due consideration. 

ApnaComplex Rentals offers a one-stop rental management service that acts as a digital matchmaking service for tenants and landlords in gated communities. You can find your home in gated communities by India’s leading developers with just a few clicks. 

Ticking the Rental Checklist

These are the factors that you must consider when picking your home:

Location: Like in any other real estate, the prime factor is location. Multiple factors decide the ideal location, from proximity to the workplace to school or college. Apart from these personal preferences, it’s also advisable to look for a home that is close to necessities like public transport, hospital, or a market.  

Rent: The second most important aspect is the rent. It’s important to set a budget and then look for a home within that range. When calculating the rent, you should also consider upfront deposits and maintenance charges. Check if maintenance charges are included by default or if these will be in addition to the rent. 

Maintenance: One of the most compelling reasons for living in a gated community is its well-maintained appearance. Common areas are regularly cleaned and any broken down equipment or furnishing is quickly repaired or replaced. This is why it’s important to do a thorough inspection of the premises and check common facilities like the clubhouse, playing and meeting areas. 

Security: Many families prefer to rent in gated communities because of round-the-clock security. Modules like ApnaComplex Gatekeeper are designed to keep track of people coming into the society while notifying you of every entry. The two-tier security system ensures maximum security from any intruders. So, take your time to assess the security and check if they have appropriate measures in place. 

Personal preferences: Apart from the factors above, each of us can have personal preferences like a pet-friendly or family-friendly environment. You can check with the landlord on any relevant rules and regulations. Families can check for family-friendly spaces like play areas or hobby groups in the society. Similarly, pet parents should check if the society has strict rules regarding access for pets. For further clarity, you can read our article here on how you can find your next home as a pet parent.

Finding your Home with ApnaComplex

ApnaComplex offers an all-inclusive rental management service where you can find your home in a gated community without any hassle. With extensive options that span different criteria, the listings can meet varied preferences. 

Listings have necessary information like area, maintenance charges, security deposits, floor, number of bathrooms and bedrooms, and whether or not it is furnished. It can also be accompanied with detailed descriptions like availability of parking, clubhouse, play area, power back-up, and availability of community hall. 

Other than easy listing, you can get support for rent negotiations and extensive move-in assistance. The app also offers household services to help you move in smoothly. This can range from movers & packers to cleaning services. 

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


One-stop Rental Management for NRIs

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.


Buy or rent home

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.


Decoding the rental boom

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.


ApnaComplex Rentals, creating a paradigm shift

Data Insight With Personalised Service: How ApnaComplex is Driving the Change in Rentals

For years, the residential rental brokerage has been dominated by local agents. Largely unorganised, these agents often lived locally and had limited resources. Most rental agencies were effectively manned by a single agent who kept tabs on vacancies in the area. With the internet came the digitalisation of the rental industry. However, this was largely limited to property listings where people could view different vacancies in a city.  The online portals rarely affected the local broker who continued to operate in silos, relying on their extensive network. 

As the rental industry turns a full circle, we are again poised at a turning point where the online-to-offline model is fast gaining traction. Combining the data insight of a tech-first approach with personalised services of offline brokers, this model has evolved partly to meet changing customer requirements and partly in response to the need for hyper-accelerating rentals to meet exploding demand. 

Working in Silos

Like other industries, the internet was expected to be a game changer in residential rentals. Online listings were expected to streamline the process, directly connecting the owner and the tenant, taking out any unnecessary third party from the equation. The reality was starkly different. Most such portals operated on a subscription basis where detailed information was only visible for a nominal fee. 

More importantly, they lacked the network and reach of local brokers. The model depended on homeowners listing their property, but found few takers. Quite often the contact details were of brokers who used these portals to increase their reach. In fact, local brokers were often more likely to close the vacancies in their catchment area, further strengthened by personal service. 

Yet, they too faced challenges. Most potential renters are now increasingly likely to do their initial research on the web. They also expect end-to-end support that can strain smaller brokerages. There have also been concerns about ethical conduct where a broker may try to reduce the rent to find suitable renters in a short time. 

Online-to-Offline Approach  

A new generation of tech-savvy consumers and the increasing digital penetration in our daily life is now creating another paradigm shift, bringing together online and offline approaches in a manner to enhance each other’s advantages. Online reach is becoming increasingly critical to reaching the millennial buyers who form the dominant demographic in the real estate industry today. They are more likely to look for their next home online than meet multiple brokers. 

The increasing digital penetration has further accelerated this trend, giving us the tools to refine our search and correct the current imbalance between surging demand and low supply. However, there is also an increasing realisation that this must be supplemented with personalised service. A digital-only approach bypasses the personal touch that can be instrumental in building long-term relationships. Hence, leading to an approach where offline and online can be combined. 

ApnaComplex Rentals, Creating a Paradigm Shift

ApnaComplex Rentals leverages its tech-first approach with a pan-India network to bring together both online and offline models in rentals, thereby creating a smooth end-to-end service. On the technology side, it benefits from data insight derived from the app’s adoption in gated communities. Rental availability can be determined from move-in / move-out data, while lease agreements help in predicting availability. 

With an extensive network in gated communities, built on continued relationships with Management Communities and Resident Welfare Associations, we can also access a verified pool of tenants and landlords. This resolves one of the persistent challenges of carrying out relevant verifications. 

It is further supported by an offline approach where an on-site Estate Portfolio Manager (EPM) handles all requirements on behalf of the landlord, including assisting with the lease agreement and move-in. ApnaComplex Rentals also activates the unorganised local broker community in AC micro markets while partnering with leading real estate portals to funnel leads. This ensures that demand can be met in a short span.

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. 

In short, ApnaComplex Rentals benefits all stakeholders.

  • Largest platform for verified pool of tenants and landlords
  • Society gets a share in transaction fees
  • End-to-end rental management for landlord
  • High rental yield
  • Three week transaction fee, lower than market rates
  • Quick closing of demand by tenant
  • Strong offline network with a dedicated EPM and local brokers

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


Steps to minimize your risks while buying a property in Bengaluru

Home BuyingThe real estate market in Bangalore is quite vibrant. The builders are developing villas and apartments of various categories to cater all sections of the society.  The built up area ranges from 650 sqft to 10,000 sqft with a price range of Rs 30 lakh to Rs 10 crore plus. There are about 5oo upcoming residential projects in Bangalore, leading to addition of around 60,000 units.

The buyers have a large range to choose from once he narrows down his budget and location. But along with an array of choices one needs to exercise a lot of caution since buying a house involves many issues and legalities that one should take care of.

Please find steps mentioned below which you need to keep in mind before buying a house in Bengaluru:

Project Selection

Verify credibility and credentials of builder, construction quality, apartment facilities and prices offered by similar apartment in your chosen area. Make a note to check about zoning clearance, parking space, water supply and litigation display board if any.

Title Clearance of Land  

After identification of the project and the builder, ensure title clearance of land. Projects are left in an incomplete stage mostly due to litigations arising on the account of title issues. After paying a token advance to builder, demand for the master file that’s consists of all land documents and then independently get the `Title Search Report’ (TSR) done. You can also get a detailed encumbrance certificate (EC) from the sub registrar office (SRO).

Approval of Building Plan  

BDA needs to approve all layout plans in general and all apartment projects building plans. BDA approval is mandatory even if the project is in Bengaluru outskirts ad approval by CMC or panchayat is not enough. The approvals will have A khata only (entire land and individual flats). Check if the construction is as per the approved plan as builders tend to violate Floor Area Ratio (FAR) and build extra flats without approvals. It’s prudent to check the copy of the approved plan, A khata at the BDA office, as many fabricated plans are in the market.

Construction License

BMPBDA needs to issue a proper license to the builders for constructing the property. Check for deviation violation by matching the original plan approval with the floor plan approval of the apartment. There have been instances where the approved plan shows the apartment on the first floor, whereas it is actually constructed on the second floor, which is unauthorized.

Commencement Certificate

Verify if the builder has obtained proper CC from the BBMP.

Government Clearances

Obtain copies of clearances from Bescom, BWSSB, the pollution board, and fire service besides approvals for digging bore wells from competent authorities.

Builder Loans  

Find out whether the builder has got any loan. The original documents of the land would be mortgaged to the banks who will have to issue a “letter NOC” for release of the undivided share of interest (UDS) of the land constructed area. Also ensure that such mortgage transactions are registered and reflected in the encumbrance certificate (Form 15). Otherwise, there is a possibility of the builder getting multiple funding from banks which can take possession of the flats.

Regular Visits

Purchaser should visit the project site periodically to ensure that the construction is as per plan, time schedule based on the agreement, and quality fittings & fixtures are used. The purchaser should insist and ensure that the builder provides a copy of the CC issued by the BBMP. Occupancy Certificate (OC): The builder has to obtain OC from the BBMP within three months of completion of the project obtainment of completion certificate. Buildings without OC are not entitled to power and water connections.

Builder Indemnity  

Since the project takes 24 months to 48 months for completion, an “indemnity bond” and “letter of undertaking and affidavit” should be taken from the builder confirming that construction will be as per the approved plan and the completion certificate will be obtained within 3 months of the completion of the project.

Execution of MOE by land owner

If the project is under joint development and the builder has taken a loan, it is desirable that the landlords are made part of the Memorandum of entry, so that they cannot say later that they were not aware of the loan.

Legal Documentation

Be cautious while executing the agreement with the builder. Read and understand the implications of conditions in the agreements since they are normally in favour of the builder with very little scope for legal recourse. It is prudent to have a legal consultant to vet the documents.

Pay the Right Price

Get the apartment measured to verify the carpet area. Builders sell on the basis of super built up area, which includes balconies, common utilities such as swimming pool, gym and staircases, due to which the carpet area gets reduced drastically. Normally, the difference is around 15-20 %: an apartment with a super built up area of 2,000 sqft generally has a carpet area (actual usable area) of only 1600sqft.

Systematically Maintain all Records

Systematically maintain a “master file” consisting of all documents such as copies of receipts of instalments paid, title search report of the project flat, plan approval copy, agreement of sale and construction, commencement certificate, and the “Occupancy Certificate”.

Source: Times of India 


Should You Buy Or Rent A House In Bangalore?

With rents in Bangalore escalating faster than annual pay rises, buying a house of your own could be a smart choice. However, unlike what some people say, in certain cases renting a house can be more economical than buying a house on EMI. Here are some important factors that you might want to consider before deciding whether to buy or rent a house in Bangalore.

Indicators For Deciding To Whether To Buy Or Rent A House

The Rule of 15

Multiply your annual house rent with 15. If buying a house in your locality costs less than this amount, you’ll definitely save more by buying a house. For example, say you pay a monthly rent of about Rs. 20,000 (or Rs. 2,40,000 yearly). So, the basic rent-buy cutoff price would be Rs. 36,00,000.

Do I buy or rent?

If you pay high rent, and you cross the threshold of the rule of 15, consider buying a house.

How long do I plan to stay in Bangalore?

Buying and selling a house within a couple of years will result in the loss of about 6 % to 7 % of the cost price in terms of transfer taxes, and real estate commissions.

Do I buy or rent?

If you plan on staying in Bangalore for fewer than 3 to 5 years, it is advisable to rent a house.

How much do I initially have to invest?

Renting a house or an apartment in Bangalore requires paying ten months’ rent as security deposit. This amount can be recouped at the end, provided you do not damage the house. Buying a house involves a down payment of at least 20% of the cost of the property, plus the processing fee for the loan and the legal counsel fee for getting the property documentation verified.

Do I buy or rent?

If you can’t afford to set aside 20 % of the property value, rent instead.

Who pays for the repairs?

Owning your own house means paying higher insurance, and shelling out more towards maintenance costs. Maintenance is no longer as simple as calling your landlord to get the repairman to fix the leak in your shower.

Do I buy or rent?

If you do not have the time to get things done personally, or aren’t willing to bear the higher maintenance costs, rent a house.

The Final Verdict

Buying a house in Bangalore is increasingly becoming profitable, particularly with the real estate market yet to recover from the recent low. Whether you decide to buy or rent a house depends on your finances, and a few other factors as discussed above.

The bottom line is, if you plan on staying in Bangalore for a considerable period and are financially stable, consider buying if not, continue renting for the time being.


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