Rent a Property

Demand & Location: Choose a location where demand for rental properties is high. Areas like Koramangala, Whitefield, Indiranagar, Jayanagar, Hebbal, and Sarjapur Road are popular among professionals and students. Research the current rent prices in the area to set competitive rates. Target Tenant: Understand whether your property is suitable for professionals, students, families, or expats. This will help you determine the kind of amenities and services you might need to offer. Prepare the Property: Repairs and Maintenance: Ensure the property is in good condition before renting it out. This includes checking the plumbing, electrical systems, flooring, and paintwork. A clean and well-maintained property will attract more tenants.​

A formal rental agreement is essential to outline the terms and conditions of the lease. Common terms include: Rent Amount and Payment Terms: The amount, due date, and mode of payment (bank transfer, cheque, etc.). Security Deposit: Typically 2-3 months of rent as a security deposit (refundable at the end of the lease term). Duration of the Lease: Typically 11 months for residential properties, with the option to renew. Maintenance Responsibilities: Specify who will bear the cost for regular maintenance and repairs. Termination Clause: How the lease can be terminated by either party and notice period. It’s advisable to have our lawyer review the agreement to ensure that all legal aspects are covered. ​

· Background Checks: Screen potential tenants for their creditworthiness, employment details, and rental history. This can help you find reliable tenants who will pay rent on time and take care of the property. Reference Checks: Check for references from previous landlords to assess their reliability. Taxation and Legal Aspects Income Tax on Rent: Rental income is taxable. Ensure that you’re aware of the tax slab and that you file your tax returns accurately. You can deduct property-related expenses (such as maintenance, repairs, property tax, etc.) from the rent received. TDS (Tax Deducted at Source): If the rent exceeds ₹50,000 per month, tenants must deduct 5% TDS and remit it to the government. You can adjust this in your annual income tax filing.​