The demonetization of currency notes and its effect on Rental Real estate

the-demonetization-of-currency-notes-and-its-effect-on-rental-real-estateThe major portion of renting in real estate is running on black money, where owners want to collect the rent in cash. A few of the owners are not ready to share the PAN Card details. The situation has changed after the recent announcement demonetization of currency notes. Today owners have understood the reality and they are demanding the money by bank transfer. Some of them have even returned the last month rent and asking tenants to transfer the money online. This is great news for the tenants.

Benefits of using RentMyStay

Given the situation, the owner has a great benefit going with online rental companies such as RentMyStay since these companies are already experienced handling it completely online and all the transactions will be legitimate. It also avoids the owners all the hassles of managing the tenants since the company does it free for the owner. This is a dual advantage for owners and the owners understand the same.

Speaking on this, Rakesh Kamble from RentMyStay said “The situation has changed and owners are realising the benefits of going completely online, it benefits the tenants and the owners since the payment is seamless. Owners also see an increase in revenue since the company facilities flexible renting which yields a higher occupancy rate. We have seen a 5 times increase in owner requests to onboard the property after the announcement. “

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