The much-awaited budget of 2017-18 is out and has given one of the much-needed push to the Indian real estate sector. The budget has not only been encouraging and favorable for realty sector, but has also been successful in triggering a wave of euphoria in realtors/promoters and home buyers alike.
Retaining a good tenant is a very serious business. If you or your property management company does not pay close attention to boosting tenant retention, chances are that you will witness more number of rental turnout that you do not expect. Additionally, you may have to deal with property vacancies for an extended period of time which will result in cutting down on your annual income deeply.
Property managers or landlords have plenty of costs like building maintenance, repairs, updates, and interior and exterior paints to consider before renting out a property. There are wide varieties of products and techniques, available in the market that promises to reduce energy costs of the building.
Although, demonetization of higher currency notes caused a temporary slowdown on the realty market, this government step doesn’t seem to have any major repercussion on the rental market. The commercial/office rental market has continued to grow in the year ending 2016 and is expected to continue this streak in 2017 as well.