By Accommodation Times Bureau
Real Estate Brokers will have a tough time as corporate like HDFC Realty and many digital giants are entering into retail home rental markets. HDFC Realty already entered the retail home rental market since last six month across the country. It has also started a mobile app which will cater a platform between owners and tenants.
Off late, nobroker.in have also started giving info on home rentals in micro markets. Recently, Home Rental Startup FastFox got Rs 30 cr as venture fund from Lightspeed and two other funds. FastFox.com is the destination to choose from 1000s of residential properties available for rent. Tenants can check pictures and in-depth information about the property and its vicinity, schedule a house visit and finalise with the landlord. It’s the fastest way to rent home.
Rental markets are growing in homes as homes in mteros have gone beyond common men’s reach. Rental deals are now the only hope for retail individual brokers. These brokers are not getting into sale component since digital marketing and media are working as brokers for builders. Rental deals are now happening with real estate brokers who know localities and demographics of the locations.
In the coming years, there will be tough competition as tenants want to have info of owners directly and save one to two months rentals as brokerage. A huge market is developed in metros where people migrate for work and prefer to rent homes instead of buying.
Rental housing in the country will boom as Real Estate Investment Trust Funds come in and will solely depend on rental yields. In commercial segment, it is now a trend to give it on lease and more so after RERA came in where it exempted lease deals from its ambit.