Want to put your Bangalore house on Rent Go for Company, Lets Setting a house on rent can be a very emotional decision for various property owners. They tend to get sick thinking of the type of tenants they might get, how would they handle the property, will they pay on time?And so on.
However, a number of people decide to put it on rent, as keeping a house locked updoes not make any economic sense. Plus an unoccupied house tends to show greater signs of decay. Especially when it is in a place like Bangalore.
According to the real estate experts, landowners should look at the option of leasing their property to corporate. This is an even better option for those living far from the apartment or across nations.
A number of multinational and big companies seek apartments to accommodate their expat as well as Indian workforce.
Bangalore, the city, which is rated as the 17th most profitable places for investment in Asia Pacific, has been topping the list of property seekers around the nation. Almost all the key real estate surveys rate Bangalore as the most preferred places for realty investments.
So if you too own an extra house in the IT center, do not keep it vacant. Put it up on company lease for maximum returns. This article has everything you need to know on how to reap maximum benefits and safety on your house for rent. Keep reading…
What does the company looks for?
The demands a company has from the rented property varies to a great deal from what individuals ask for. As a lot from employees’ security and their comfort to factors like distance from office, rides on this decision. So before you start searching for companies, have a look at what they generally look for.
Originally, company leases happened mostly in the financial sector, but now they have also found a demand in the telecommunications and information technology market. As we all know that Bangalore is the hub of IT companies from all over the world, the city has seen a huge demand for company lets properties.
The areas in East Bangalore like Whitefield, Sarjapur, etc. which are known to house city’s IT giants are the ones most in demand by the companies.
So if you too have a house on rent in Bangalore, opt for company lease to avail maximum benefits.
- Quality of the furnishings
It is worth noting that the company-lets customarily demands a high quality of decoration, mostly of a neutral style. The call for both furnished and unfurnished accommodation differs on the basis of the potential occupier. But if furnished, they tend to ask for a fully equipped property, containing everything from bed linen and beds to cutlery, crockery, glassware, and other kitchen appliances.
- List of inventory
Companies mostly insist that an official checkout and check-in is done at the end and beginning of the agreement. Landlord should submit the full inventory of substances and a plan describing the condition of the content, which should be checked by some independent inventory official.
- Agreeable clauses
Companies prefer to have easily agreeable clauses on security deposits, damages, breach of contract, etc.Do not put some thing in the contract that makes it difficult for the company to occupy your house. For e.g. do not fix the damages amount in the security deposit amount.
Benefit over Individual loan
The greatest advantage that corporate lease provides over the personal lease is the massively enhanced safety concern. The risk of fraudulent activities of any kind in the corporate lease is lowest, as the company undertakes full responsibility of the occupant.
Rent comes on time, and the owner have a very high probability of finding other occupants from the same company instantly on the expiration of the lease time.
Now that you have a fair idea of the benefits company lease has to offers, let us come to the final and most crucial point. How does it work?
How does it work?
Companies typically opt for properties, which are of standard quality and are also well maintained.
A number of companies do property negotiations via global property consultants. While some also approach them with the help of local brokers. Therefore, for the right match, it would be best to list your property in an established real estate service provider, which have a huge target base.
Consecutively, various common advertising choices like newspaper inserts, word of mouths, and real estate web portals, etc. can also be used.
Various corporates are very process-oriented, so expect a number of visits and checks from them before they close the deal. They might also demand some fittings or white goods that will ultimately be recompensed for with an increased rental value. However the corporate may demand that the initial investments for the fixtures to come from the landlord.
In the end, all the legal contracts should be legally handled. If done with the help of a transaction service company, everything’s automatically managed through the legal department.
Otherwise, the owner can also have it done via the legal services’ experts if they opt for it. In both the case, details will be laid down by the company’s prearranged lawyer.
If you own an extra property in Bangalore, you are already sitting on a gold mine. But it is not economic to keep it vacant or find individual tenants, as you will always have a risk of losing out on the safety and returns perspectives. So, find a company in your area and get in contact with them, today.
Tripti writes on the behalf of 99acres.com. Her articles talk about new developments in the real estate industry. She is an avid fiction reader, craftsman and a keen observer. Being someone who just observes without having a point of view, she keeps herself updated in real time. You can reach her on G+ and LinkedIn.