Q: How to you estimate my properties rental value?

The fair rental value of your property is determined by the empirical prices prevailing at the moment in the market. We look at recent transactions that have been concluded in the market in the recent past and use that as a benchmark to determine the fair rental value. We make adjustments to the above for apartment specific factors like floor, view from the apartment, no of parking slots, level and quality of furnishing etc. We also assess the overall demand supply scenario in the specific complex and locality in arriving at an estimate of rental value.

Q: How do you market my rental property?

We undertake the following activities to ensure that the property is taken care of:

Online portals: We advertise across several real estate platforms like Magicbricks, 99 Acres, etc. In addition to these, our own portal for property seekers gets traffic. You can check out the same at https://simplease.in/search-flats-for-rent-in-mumbai.php

Offline channels: We have over 5000 realtors empanelled with us who are empanelled with us as associate partners and we leverage this network extensively to tap every potential client for your apartment.

Corporate channels: We are empanels as a relocation vendor with some of the marquee corporates like Asian Paints, Castrol, Japanese consulate, TATA Steel, Maersk etc from where we get a steady flow of clients

Q: What is your process to screen prospective tenants?

We pre-screen the tenants based on the type of the tenant that the owner is looking at. We do a background check of the tenants which includes a check on professional background, ID proofs and address proofs, police verification etc to avoid any surprises later on.

Q: If you rent to a group of bachelors, what will you do if 1 or 2 members leave ?

At the onset, we ensure that the owner does not bear any cost for such transition during the course of the agreement including cost of vacancy, paperwork etc. In such a scenario, Simplease will ensure that a revised agreement is executed and all necessary approvals are obtained.

Q: How do you handle a problematic tenant?

Given our experience of over 10 years in this line of business, we have experience of handling all sorts of tenants and our response would vary depending on the situation at hand. Our endeavor is to find an amicable solution to most problems and have been successful in handling it that way. However, if an amicable solution is not found we ensure that we follow a legal path to take necessary actions including eviction of tenants (if required).

Q: Will I be able to communicate with the tenant ?

We share the contact details of the tenant with you. You can communicate with the tenant directly. However, we would suggest that we are kept in the loop for all correspondence to ensure that there is no miscommunication and everyone is on the same page with respect to the query raised.

Q: How do you ensure that we are completed protected under the Leave and License agreement that I sign with the tenant?

The agreements used by us are vetted by legal expert to ensure that you are in compliance with the laws of the land. We ensure that appropriate clauses are included to protect your rights as a Licensor as well as ensuring the protection of the property. The agreement has been drafted to ensure that the respective rights and obligations of both parties are clearly spelt out to avoid any confusion later on.

Q: What is the screening process for a foreign tenant?

In addition to the standard background check, for a foreign tenant, we submit all immigration documents (VISA, passport) to the designated police station. We also obtain a copy of their FRRO certificate [Foreign Regional Registration Office]

Q: What security deposit should I expect to receive for my apartment ?

The quantum of security deposit is a deposit to cover for the following risks:
Non-payment of rent: This should be equivalent to atleast 3 months of rent to cover any non-payment of rent.

Payment of unpaid utilities charges: This should be equivalent to 0.5-1 month of rent depending on the averages charges that accrue with respect to your apartment.

Any physical damages to the apartment: This should be on the range of 1-4 months of deposit depending on the level and quality of furnishing being provided.

Q: What is the screening process for a foreign tenant?

The rent is always paid in advance on a monthly basis. Typically a grace period for 3-7 days is provided to make the rent payment. The rent is typically paid through post-dated cheques/ online transfer. In case of delay in payment of rent, a penal interest of 18% p.a. is levied for the delay from the date when the payment is due. You are entitled to get the apartment vacated if the delay in payment of rent persists for more than 30 days.

Q: Can Nestify withhold rent payments?

Nestify doesn’t control the flow of payments from the tenant to the owner. Hence, the question of withholding payments does not arise.

Q: Does Getnestify guarantee a fixed monthly rental?

While we work hard to try and ensure that every managed property gets enough number of houseshowings, Simplease does NOT guarantee a fixed rental income. That said, the fee structure for Nestify has been designed in a way to ensure that the interest of the owner and Nestify are aligned to ensuring that your property remains occupied throughout the tenure.

Q: Does Getnestify manage multiple units of the same owner?

Yes, we do manage multiple properties for single owner.

Q: Can I get a reference of any existing owner or get a review by them ?

You can look at some of the testimonials provided by some of them on our website www.simplease.in. If you need get a reference check, feel free to reach to us at (+91)8448802803 and we will do the needful.