A lucrative rental flavour

Rental homes or home for rent will have new flavour both for the property owner and the guest.

The rental market in India is acquiring a new face as the real estate touches unprecedented heights and the demand for A-class accommodation, for instance in Five Star properties falls awfully short.

According to the ministry of tourism figures India has only 110,000 first class hotel rooms where as the demand as of now is more than five times.

Hence, the various international hotel groups including Hilton plan their new businesses in India through setting up a chain of hotels running into as many as 200.
Coming to the new rental paradigm that is being laid by the ministry of tourism. The latter has started a scheme whereby anyone who has some spare rooms can book with the ministry for a nominal sum for renting out space to international tourists who would like to stay with Indian families for experiencing their lifestyle and food while they pay far lesser compared to a five star or any star accommodation in a hotel.

The room rents offered are in the range of Rs 1000-4000 a day. The property owner has to organise minimum facilities like furnishing, an air-conditioner, a television, attached toilet with hot and cold water. Providing food from the Indian platter will be payable extra. Other services like laundry, taxi etc too could be provided at cost.
In the new scenario of “accommodation wanted” letting one’s flat or apartment or house may not be as lucrative, and on the contrary it will be quite hassle some given the rental laws being in favour of the tenant and high possibility of losing one’s property to the tenant in the bargain.

“I had three rooms lying vacant and I had no clue what to do with them especially when I did not want to give them away for rent; this opportunity from the ministry of tourism has come about as a windfall; I am able to earn as much as Rs 110,000 a month after having been into it for the last six months now,” says Anupama.
Hence rental homes or home for rent will have new flavour both for the property owner and the guest.

Author Bio: Samantha Sen is an associated editor of website www.realtymantrarentals.com. The website is a rent guide, dedicated to provide all information required for rental properties all across India. Your queries and suggestions are welcomed at smanthasen@gmail.com.

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