Online home rental networks disrupting real estate industry
Over the past 3 years, the rental eco system has seen many disruptive trends in India and abroad. The real estate is getting disrupted by the advent of technology, with convenience in the search for rental homes due to online home rental networks. Major changes have been seen with the arrival of the online rental home technology, as one has an easy access to rooms on a shared basis and luxury PGs, at an economical security deposit from the owners.
Online rental network, which is on an expansion spree, display transparency in providing accurate information of the owner and enable customers to find the best option, in the convenience of their home. They provide access to a wide range of real estate properties and help the potential buyers to scan through the project options available, before investing their money. Online home rental options allow the consumer to compare rental properties and prices of different areas to enable faster decision making.
Despite of rapid disruption in this sector, basic problems still exist from the point of view of both owners and tenants. Owners usually prefer families, as they tend to be more relied upon in terms of financial matters and can afford to pay a huge 6-10 months security deposit, as per the norms, thereby making the owner feel secured, in worst case scenario. Repairs and excess renovation costs can also be averted if the rental homes are maintained on a regular basis. But most of the times, tenants are reluctant to pay heavy deposits, as they fear of not getting the deposit back or are charged high owner penalties. Bangalore courts have witnessed many cases where the tenants have taken the owners to the court, for not returning their money or harassing them unnecessarily.
In order to find the right project within the budget of the customer, online home rental plays an important role, by ensuring variety of properties at a reasonable price. Online home rental portals give an idea about the accurate price of the property and a good resale opportunity to the owner. Through online information center, customer can find ideal projects, based on their returns and upcoming developments around the project. This helps to increase the value of the property and one should always be clear about what to expect from the investment. Virtual walkthroughs before buying and Predictive Returns Analysis charts are the need of the hour before buying a project. Predictive analytics is imperative as it targets the customer with his exact preference of the property, according to their interest or wish-list. So to conduct the business efficiently, there is a need for a player in the market, to whom the owner can give the entire responsibility, without burning a hole in his pocket. There are professional management companies, who help manage the property, without burning a hole in the customer’s pocket, these days. Online home rental and property management companies assure the safety of the property and ensure non failing rental return from the property.
Today, online rental home networks are transforming the real estate business, by providing transparency. Now, technology is eliminating the role of a third party or dealer and is changing the rental experience. Through online home rental networks, owners can get access to all the information with ease, according to their lifestyle and needed location. These days, online home rental gives variety of options to the families as well as to the bachelors and also helps in finding shared rooms and roommates. It provides quick support in terms of handling issues regarding property and also reduces the paper work, by ensuring flexible living.