Since last 2 years fortunately or unfortunately, I spent lots of time in searching and hiring rental flats/office space. It was specifically in Mumbai and Pune. I also stayed in Hyderabad in 2004-06, at that time there were not need of agents as rents were pretty low, we used to pay 4k for 2bhk+waiting room and normally House owners use to put up boards on building itself telling about rent.
In early 2006, I had to search for home in Vashi, Mumbai. Scene at that time was, builders relative was looking after that building so it was difficult bypass him but rent was just 6k for 2 bhk so again It was not issue paying brokerage.
But after 5 years in 2011-2012, picture is pretty different, rents are skyrocketed everywhere.
In Mumbai, In area like gorai and anand nagar in Dahisar, every building has a office of agent.
Single flat is shown by multiple brokers :)
Brokerage business is at its prime, Many of brokers own cars in Pune, instead of bikes as they used to.
And they demand 2 months rent as brokerage. Trick behind this is normally 3-4 brokers are involved with 1 flat so every one of them need to get respectable share of income. so they normally dont negotiate on brokerage.
Here are some of quirkiness of brokers and dont believe them
1) Even if there are lots of properties available, broker will first tell you that there are almost no flats are available or they will give you options of just 2-3 flats.
2) If you went to broker well in advance for say 2 months, He will not at all cooperate with you, as you are not needy, he cant play games with you as you are at comfort.
3) If you are looking space for Office, Owners and Brokers will tell you that Office is very lucky for previous owners and whoever rents this space, grows with no Limit.
4) There is always space for negotiations with broker, Its easy to convince broker than Owner as for broker its onetime income while for owner its yearly income.
5) If you like some flat or space, Owners will tell you that there is one more party interested in said flat/space and some will add a punch that other party is offering more. also he will tell you that they want good people. This is trick to stop you from negotiations.
6) Specially in Pune, Many flat owners are Mumbai investors, They try to play game with Mumbai Rules, so dont get into their talks.. for example they will ask you high rent and 6 months rent as a deposit, which is normal in Mumbai but Pune rules are different. its 2-3 months of rent as deposit
7) Trick is to Fix your Budget for rent and tell Broker budget 10% lower. Contact multiple brokers, make sure that they are not connected to each other.
8) Most important is Dont Giveup and Commit early on deciding on some flat/office space, always borrow some time from owner to think whether it is satisfying most of your requirements like locality, rent, transportation, water, electricity, internet.
9) Following sites are good for Getting flat ads directly from owners:
a) Quikr
b) Sulekha
c) Magic Bricks
d) Anand Property listing (very good)
e) Olx
Happy Searching and All the best.
In early 2006, I had to search for home in Vashi, Mumbai. Scene at that time was, builders relative was looking after that building so it was difficult bypass him but rent was just 6k for 2 bhk so again It was not issue paying brokerage.
But after 5 years in 2011-2012, picture is pretty different, rents are skyrocketed everywhere.
In Mumbai, In area like gorai and anand nagar in Dahisar, every building has a office of agent.
Single flat is shown by multiple brokers :)
Brokerage business is at its prime, Many of brokers own cars in Pune, instead of bikes as they used to.
And they demand 2 months rent as brokerage. Trick behind this is normally 3-4 brokers are involved with 1 flat so every one of them need to get respectable share of income. so they normally dont negotiate on brokerage.
Here are some of quirkiness of brokers and dont believe them
1) Even if there are lots of properties available, broker will first tell you that there are almost no flats are available or they will give you options of just 2-3 flats.
2) If you went to broker well in advance for say 2 months, He will not at all cooperate with you, as you are not needy, he cant play games with you as you are at comfort.
3) If you are looking space for Office, Owners and Brokers will tell you that Office is very lucky for previous owners and whoever rents this space, grows with no Limit.
4) There is always space for negotiations with broker, Its easy to convince broker than Owner as for broker its onetime income while for owner its yearly income.
5) If you like some flat or space, Owners will tell you that there is one more party interested in said flat/space and some will add a punch that other party is offering more. also he will tell you that they want good people. This is trick to stop you from negotiations.
6) Specially in Pune, Many flat owners are Mumbai investors, They try to play game with Mumbai Rules, so dont get into their talks.. for example they will ask you high rent and 6 months rent as a deposit, which is normal in Mumbai but Pune rules are different. its 2-3 months of rent as deposit
7) Trick is to Fix your Budget for rent and tell Broker budget 10% lower. Contact multiple brokers, make sure that they are not connected to each other.
8) Most important is Dont Giveup and Commit early on deciding on some flat/office space, always borrow some time from owner to think whether it is satisfying most of your requirements like locality, rent, transportation, water, electricity, internet.
9) Following sites are good for Getting flat ads directly from owners:
a) Quikr
b) Sulekha
c) Magic Bricks
d) Anand Property listing (very good)
e) Olx
Happy Searching and All the best.
1 comment:
The post has useful information.
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