Big Indian cities generally provide enough assurance that one can be certain of informal agreements, fluctuating rates, and failed housing units when seeking a good place to rent. Nevertheless, in the majority of cases, the management of properties is run by single landlords. The established structures may change in the near future, and institutional players may venture into the market by the use of large capital and well-organised operations. HDFC Capital Advisors Limited has also joined with Housing Living Solutions to create a 1000 crore residential property rental. It aims to increase, buy, and operate professionally handled rental houses in the major cities. We take this to mean an anti-chaotic and service-based living.
The new model is scale and standardisation-based on the model as opposed to the traditional rentals. The platform will carry properties in the form of managed properties other than scattered properties. This will involve superior deals, fixed rent, and quality of service provided. Tenants can feel a little more organised and predictable by renting. The platform will attract people who tend to relocate frequently. Students, young professionals, and migrant workers comprise an enormous percentage of the urban demand, which is capable of being the most confrontational. Rentals may be built in such a way that the stress of deposits is reduced, and there are no arguments of maintenance and inconsistent policies.
Investors are also concerned with the change. Vipul Roongta, chief executive officer of HDFC capital commented that there is no doubt that the rental market is at the inflexion point stage. This has been created by the young, mobile population and rapid urbanisation, which creates a stable demand. The rental housing also offers recurring income, and it can be predicted compared to property sales. There is a background of operations that Curated Living brings in. The company already has over 13,000 beds in co-living, student, and worker houses. The current experience in day-to-day management, safety, and design can assist in quality maintenance because it will enhance the size of the platform.
We believe that this combination of institutional capital and the ground game business would transform the rental industry in India. When well applied, it could make renting a good service, and to this extent, it would allow tenants and investors a better chance to gain credibility.
