Search results for landlord market

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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apnacomplexnitin
August 22, 2018

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.

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How to navigate a landlord's market
Shajai Jacob
September 22, 2022

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

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Home Rental Management: Trends & forecasts
Paromita Datta
May 26, 2023

Hybrid Approach & Rising Rents: Evolving Trends in Home Rental Management Services

The real estate sector saw some turbulent times in the recent past. A slump in revenues during the initial COVID period was followed by a robust recovery in 2021. The rental industry also went through a similar recovery with record rents reported last year. What does the future hold for home rental management companies?

Trends in rental management services

Here are some of the emerging trends that will dictate the industry in the coming months:

Lagging supply to dictate soaring rents

House rents jumped by 23% in the 2019-2022 period. An ANAROCK report shows that even luxury markets have seen an 18% growth in the same period. With supply still lagging behind demand, this trend is expected to continue its upward curve in 2023. The gap in supply can be traced to the pandemic when construction came to a complete halt. With the available inventory still falling short of the demand, rents are expected to rise further. 

Evolution of hybrid approach

Traditionally, the rental market was run by local brokers. Online portals entered the market majorly as a listing platform. However, the trend has now moved towards hybrid services where online access is backed by personalised services.

ApnaComplex is a home rental management company that offers extensive listing to ease the process of finding a home or tenant. In-person services by Estate Portfolio Managers help tenants and homeowners through the process. Read our article to know How ApnaComplex is Driving the Change in Rentals.

Proptech taking the lead

Like other industries, technology is changing the game in the home rental industry. Today, the average person is more likely to look for a home or tenant online. Proptech like ApnaComplex Rentals allows landlords to list their property without any hassle. At the same time, it makes it easy for tenants to find a home. Other solutions include rent payment, easy data access, negotiation and rental agreement support. Other benefits like tenancy score can be gamechanger in securing a desired home. 

Data analytics and insight

Home rental management companies are now leveraging data to gain insight into market trends, tenant behaviour, and rental rates. This information can help identify investment opportunities, improve decision-making, and maximise rental yields. 

Enhanced service experience

With the intense competition, rental management companies are now focusing on enhancing the delivery of services to both tenants and landlords. ApnaComplex eases the rental process at every step, from easy property listings to negotiation support. Other services include KYC and move-in/move-out assistance. 

Legal compliance 

Home rental management companies are now increasingly focusing on ensuring legal compliance. Even where state laws are ambiguous, rental agreements and contracts are signed and registered. ApnaComplex Rentals took the lead by further protecting the interests of tenants and landlords through KYC and background checks.

Gated communities get a preference 

As rentals increase across the top cities, gated communities have emerged as the preferred address. Typically, homes in these housing societies are priced higher and tenants are willing to pay the extra buck. The reason for this preference is better security and the availability of amenities like sports facilities and fitness centre.

Improving rental yield

Soaring rentals mean that rental yield will also continue to improve. The average yield in the pre-COVID era was around 3%. With rents going up by 23%, yields have also improved in the top 7 cities. ApnaComplex has facilitated rental yields up to an impressive 4.2%.

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

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Hidden costs of renting an apartment
Paromita Datta
May 19, 2023

Looking for a home? Beware of the hidden costs of renting an apartment

With the spiraling rentals rates today, most tenants are preoccupied with calculating how much they can afford to pay every month. In the process, they often fail to plan for unexpected or hidden costs. Quite often these can be substantial, adding significantly to the monthly rental. While some of these may be stated upfront, such as the security deposit, some may not be as expected. 

This article explores the expected and hidden costs of renting an apartment.

Expected costs

Some of the expected costs when renting a home are: 

Security deposit: Rent is only one part of the payment. The security deposit is the first and most substantial expense you will have to fork out. Equivalent to two to ten months of rent, the security deposit is the first roadblock in getting a home. Many prospective renters often fail to count on this or to make adequate arrangements for their total liability. 

Brokerage and other fees: Typically, the brokerage is equivalent to a month’s rent. In addition, there are stamp duty and registration fees that can further inflate your liability. Some gated communities also charge a moving-in fee. Combined with the security deposit, these additional charges can again raise the financial liability for the tenant. 

Relocation: When moving to a new home, we often forget packing and moving charges. This amount can increase substantially depending on the distance and scope.

Unexpected costs:

The hidden costs of renting an apartment are not always factored in, especially by the unaware renter. 

Maintenance charges: Maintenance charges may or may not be included in the rent. In some cities like Mumbai, the quoted rent will include these charges. It is the landlord’s responsibility to pay the monthly or quarterly fee. The practice may vary in cities like Bangalore and Delhi. Premium gated communities have high maintenance charges, adding to the monthly rental. 

Repainting & repairs: Minot repairs and maintenance are the tenant’s responsibility unless otherwise stated in the rental agreement. The landlord is expected to hand over the home in optimum condition. This includes furnishing and appliances in good working condition. However, you may soon find that the bathroom exhaust is not working or the stove needs servicing. 

Parking: You may end up paying additional parking charges if your apartment or home does not include the space. Additional parking charges can also apply when you have more vehicles than your parking space. It is also best to check if there are any additional parking charges to be paid to the housing society. 

Utility bills: Payment of utilities like electricity, water, and garbage collection charges can vary. These can depend on the terms of the rental agreement or the scope of the society maintenance charges. For instance, water and garbage collection are often included as part of the maintenance fee. However, it is best to check your total liabilities.

Penalties: Very often tenants fail to check if there are any penalties in the rental agreement and how these are decided. For example, what is the penalty if you want to vacate your flat before the lease ends? Similarly, gated communities often have certain rules and regulations with penalties for violations. 

How to avoid hidden charges? 

When minimising the hidden costs of renting an apartment, it is always advisable to check every little detail. This includes:

  • Find out the security deposit. Negotiate if it is higher than what you expect or the prevalent rates in the market. Learn more about How People are Arranging for a Rental Security Deposit. 
  • Lock down all the details through the rental agreement. Most agreements specify each party’s liability for maintenance and repairs. Usually, minor wear and tear is the responsibility of the tenant. But major repairs have to be taken up by the landlord. 
  • Ensure the house is repainted and cleaned before you move in.
  • Ensure that appliances like ACs and gas stoves have been serviced. 
  • Inspect the apartment or home thoroughly to make sure that electrical fittings and plumbing are working properly. Check for any damages like water leakages or broken windowpanes. 
  • Does the rent include maintenance charges? Find out what falls under maintenance, particularly in terms of utility charges.
  • Check the rules and regulations of your housing society. This can help you avoid penalties later on. 

How can ApnaComplex Rentals help?

ApnaComplex Rentals offers all-inclusive rental management services. Apart from extensive listings, tenants can also benefit from specialised services, including negotiation support in deciding on rent and security deposit. Find out more in our article Everything you Should Know about Rental Security Deposit.

You can also get support with finalising the rental agreement. Our Estate Portfolio Manager can help you with the details about the rules and regulations of the community. 

Tenants can also be vulnerable to rent & lease scams. Learn What they are & How to Avoid them. To know what else you should be aware of, read our article on Things to keep in mind when looking to rent a flat

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Peak time for rental housing
Paromita Datta
April 17, 2023

Bidding Wars & Record Rents: It’s Peak Time for the Rental Housing Industry

May-June marks the peak time for rental housing. The summer holidays and the beginning of the new school session is often the time that many people choose to move their families to minimise any disruption. But as the imbalance between supply and demand persists, there is a scramble for well-designed and located apartments in cities like Bengaluru and Mumbai.

ApnaComplex Rentals makes the process easier for tenants with extensive listings from the leading gated communities across the country. Available on the app and the web, it is easily accessible and allows users to view available properties in different cities. Backed by extensive background checks, each listing is also vetted for authenticity. 

Bidding for apartments

So frenzied is the search for apartments that tenants are now reportedly bidding for the best apartments. According to recent reports, prospective tenants in Bengaluru ended up bidding for an apartment in a prime location. In another case, a tenant was left stranded after a landlord changed his mind after receiving a higher bid from another tenant. 

This is not an uncommon practice in cities where real estate is premium. In New York, tenants often have to bid for any apartment with a half-decent address. Brokers often let prospective tenants know in advance that they would be bidding for the best rent and commission! Similarly, cities like Sydney haven’t been able to banish bidding wars despite governmental opposition. 

Lagging supply & soaring rentals

The frenzy is driven by a supply that still seems to be lagging behind demand which shows no signs of slowing down. The spike in demand occurred first in 2022 as offices started opening up. However,  supply was impacted as new developments were halted during the COVID lockdown. This skewed the balance, leading to insufficient supply. 

As the economy further opens up, the situation has not improved as most new developments in these cities are still under construction. Housing rents went up by 20%-30% in the top 7 Indian cities with some micro-markets in cities like Bengaluru seeing close to a 40% spike. Read our article on the rental boom to understand what’s driving it and why it’s here to stay. With the peak time for rental housing hitting the market, supply has slowed down further.

ApnaComplex Rentals to the rescue

ApnaComplex Rentals offers all-inclusive rental management services that ease the job of finding a suitable home in a gated community. You can filter your search by location and gated community to find the most suitable match. The on-ground team can also help you with site visits at a suitable time as well as facilitate negotiations with rent and rental deposits.

Online listings are also highly convenient for people who are relocating to another city. Backed by diligent verification of each listing, they can be assured of a reliable and trusted experience.

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

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Reducing a high rental deposit
Paromita Datta
March 24, 2023

Selling Kidneys, Jewelry – How People are Arranging for a Rental Security Deposit

For those searching for a home in cities like Mumbai and Bengaluru, rising rents are just one part of the problem. As landlords get to take their pick, the more immediate concern seems to be finding the funds to pay their security deposit. Recently, a funny post surfaced on social media where a user joked about selling a kidney to pay his security deposit. 

This may be an exaggeration, but as rents shoot up, rental deposits have also gone through the roof. As bulk payment, it can pose a bigger problem for tenants in the short term. Hence, it’s important to understand the laws and customs that dictate how much security deposit can be charged. 

Booming rentals and rising deposits

Rents in the top 7 cities in India have gone up by 20-30% in the last two years. As per an ANAROCK report, rents are expected to continue with an upward trend in 2023. This is good news for landlords who had seen rents lying static for two years during COVID. 

The tide started turning in 2022 as offices and schools started opening up as our article explores here. Booming rents mean that security deposits are also becoming substantial. There are reports of landlords asking for six to ten months of rental deposits, driving up the total amount in lakhs. This has prompted the spate of jokes on impossible payments. 

What does the law say?

Are these heavy security deposits justified? With landlords demanding six to ten months of rent as a security deposit, many tenants are now questioning the ground for such high deposits. In this situation, it is prudent to know the rules and regulations dictating this amount. 

Where the law is concerned, rental security deposits fall under the Model Tenancy Law Act, 2021. As per the act, the deposit amount is capped at two months’ rent for residential property, and at six months’ rent for non-residential premises. However, since Land and Urban Development is a state subject, the act is not binding on the states. Currently, only four states are following the act. These are Uttar Pradesh, Tamil Nadu, Andhra Pradesh, and Assam. 

In practice, the amount of rental security deposits is usually decided by the micro market customs. One can read more about the rental security deposit in our detailed article here. 

How to manage a high rental security deposit?

A rental security deposit is aimed at creating a safety net for landlords. It is a refundable deposit that the landlord has to pay back at the end of tenancy or as specified in the rental agreement. The deposit can be deducted to recover any unpaid rent arrears, pay for repairing any damage to the property, or for any other fee as specified in the rental agreement. Tenants can manage high rental deposits through the following means:

Negotiations: Negotiate with the landlord to reduce the deposit. Point out that the law specifies two months. 

Establish trust. Since the purpose of the deposit is to protect the landlord against any loss or damage to the property, start by establishing yourself as a trustworthy tenant. Make sure all the relevant information and references are at hand. 

With ApnaComplex: Get professional help in reaching out to landlords with ApnaComplex. Our dedicated Estate Portfolio Managers can help you to:

  • Know about micro-market customs. 
  • Get negotiation support when dealing with the landlord.
  • Establish trust through ApnaComplex background check and KYC 
  • Make sure there is a rental agreement in place. 

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

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Rental Security Deposit: A Primer
Paromita Datta
March 6, 2023

Everything you Should Know about Rental Security Deposit

When looking for a rental home, the actual rent is only part of the deal. Before that comes the essential and substantial responsibility of paying a rental security deposit. There are good reasons for charging a security deposit as it provides security to the landlord. However, it can run into lakhs in certain cases. In addition, this lump sum payment has to be paid upfront.

But before you charge or pay the required amount, you must understand what a security deposit entails. Here’s a short primer: 

What is a rental security deposit?

A rental property security deposit is a refundable amount that a tenant pays the landlord at the start of a tenancy. This amount is generally decided according to the prevailing customs in the micro market –  typically, two to three months of rent. However, in certain places, it can exceed a year’s cumulative rent, creating a substantial financial burden for the tenant. 

The amount of the security deposit is defined as per state laws. Hence, it can differ from one state to another. In practice, the amount is often influenced by micro markets. So, you may find different practices in different localities within the same city. 

Why do landlords charge security deposits?

As the name suggests, the security deposit is meant to protect the interests of the landlord. For instance, it can safeguard them against losses if the tenant fails to pay the rent. The landlord can deduct:

  • Unpaid rent arrears 
  • Cost of repairing any damage to the property
  • Any other fee as specified in the rental agreement

This damage does not include normal wear and tear of the property. For instance, the landlord may charge for a broken window pane, but not for the wall paint peeling off after a few months. 

Getting a deposit refund

Once the tenancy ends, the landlord must return the security deposit to the tenant. However, there are cases where the landlord may withhold the payment unfairly, using different pretexts. This is where a rental agreement becomes so important. As a legal document, it specifies the landlord and the tenant’s financial obligations. 

Do’s & Don’ts 

  • Make sure there is a rental agreement signed by both landlord and tenant.  
  • File the rental agreement with the sub-registrar office so that it is a legally binding contract. There should be no hidden clauses.
  • Specify the security deposit amount and when it should be refunded.
  • Specify the financial obligations of both landlord and tenant. 

To know more, read our article on why you should insist on a rental agreement.

FAQs

Is there a law regulating rental security deposits? 

Rental security deposits come under the Model Tenancy Act, 2021. However, since Land and Urban Development fall under state subjects, the act is not binding on states. So far, only four states, Andhra Pradesh, Uttar Pradesh, Tamil Nadu, and Assam have revised their state regulations in line with the Model Tenancy Act, 2021.

How much should be the security deposit for a house rental? 

The Model Tenancy Act, 2021 limits security deposit to a maximum of two months’ rent for residential purposes. For non-residential properties, the deposit is a maximum of six months. In practice, charging security deposits are often influenced by trends in the micro market. 

Is a security deposit refundable?

Yes. However, it is not uncommon to see disputes regarding the refunded amount. Many landlords add on charges, asking for repairs or other payments. This is why a rental agreement that specifies each party’s obligations is so important. 

Can you ask for receipts?

Yes, you should ask for a payment receipt of the security deposit. It should contain details like the date, cheque number, and signature of the owner.

Can the landlord be penalised for late refunds? 

Yes. But remember, this can be enforced only if it is mentioned in the rental agreement. Hence, the agreement should specify the timing of the refund and the terms of penalty in case of delay. 

How can ApnaComplex Rentals help?

If you are unsure of how to go about framing a rental agreement, ApnaComplex Rentals can help you. It provides all-inclusive services that includes support in creating and registering a rental agreement. It also offers landlords tenant KYC and background verification for added security. 

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

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5 Things to Check Before Renting Your Next Home
Paromita Datta
January 16, 2023

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.

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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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