FAQ's


General

 

Who are we?

Easyleases Technologies Pvt. Ltd. is a residential leasing solutions provider, offering rental property / tenant management, property maintenance solutions to home owners, tenants and property advisors using a technology platform.

 

Why should someone choose Easyleases for their rental/leasing solution?

Easyleases, launched in October 2017, is a young organization with fresh perspectives founded by senior Corporate professionals with experience working across companies as Oracle, Karvy Wealth, Microsoft etc.

Easyleases offers a trustworthy & transparent leasing experience using technology, where users can view & track their payments, fee, maintenance/service requests, etc. in real time.

 

In which cities are you operational?

Presently, we are covering the entire city of Bangalore and will expand to other cities in the future.

 

How can we reach you?

You can visit www.easyleases.in or write to us at query@easyleases.in

 

Is there an Android or iOS App that I can download?

Currently there are no Apps. However, our site www.easyleases.in is so responsive that it’ll be a breeze browsing the site on your mobile device

 

Do you manage commercial properties?

We primarily offer Property Management Services to residential home owners, but can manage commercial properties on a case-to-case basis. Please reach out to us with details

 

PROPERTY OWNERS

 
Services Offered
 
 
What are the services you offer for property owners?

We offer end-to-end Property Management Services (PMS) for rental property owners including tenant placement, deposit & rent collection, property maintenance, tenant exit/move-in management, property audit, etc. Please refer to www.easyleases.in/users/owner for more details.

We also offer On-Demand Services for Rental Property Owners as listed below:

  • Property possession from the builder
  • Property registration and Khatha certificates
  • Property tax
  • Furnishing and interiors
  • Painting, Cleaning & other property maintenance services

Please visit www.easyleases.in for further details or email us at query@easyleases.in

 
Agreements
 
 
What agreements do I need to sign with Easyleases and the tenant?

There are just two agreements that needs to be signed:

  • You will enter into a “Service Level Agreement” (referred as SLA henceforth) with Easyleases
  • Sign a “Leave & License” agreement with your tenant

How can I get a copy of the SLA and other agreement templates?

Please email us at query@easyleases.in with your details and we will do the needful

 

What is the process to terminate my agreement with Easyleases?

Either of us can terminate the agreement at any point in time by giving the other party an written advance notice as specified in SLA which is typically 3 months (90 days). The details will be specified in the SLA that you will sign with us.

 
Listing your Property
 
 
How do I list my house on Easyleases?

You can visit www.easyleases.in to submit your property details or simply email us at query@easyleases.in & we will be pleased to take it forward

 

How much time would it take for my property to go live on Easyleases?

It’ll be done ASAP, depending on how soon we can conclude the site visit and signing of the SLA. Below is the process we follow to get properties listed on Easyleases:

  • Step 1: Schedule and complete the site visit for your property
  • Step 2: SLA sign off between you (property owner) & Easyleases
  • Step 3: Property is on boarded and listed on Easyleases platform

What’s the objective of the site visit?

Site visit is done to make sure we post accurate details about your property (including latest photographs) on our website, and also to ensure that the property meets Easyleases standards

 

How much does it cost to list my property on Easyleases?

No, we do not charge anything to list properties on Easyleases

 

What documents & details are required to be furnished for listing my property?

We will need basic documentation as ID, Address proof and a cancelled cheque. Please write to us at query@easyleases.in, and we’ll be happy to work with you through this

 
Tenant Aquisition
 
 
My property is vacant. Can you help in finding tenants?

Absolutely. We will list your property on Easyleases website to make it discoverable to tenants looking for a rental home. We also use our partner network and other tenant acquisition avenues to help property owners find the right tenants

 

How long does it take to find a tenant for my property?

We will leave no stone unturned in finding tenants for the listed properties. However, the time taken to find a tenant depends on multiple factors as location of the house, expected rent, etc.

 

Will I know the tenant details before they move in? Can I say no to a tenant if I don’t like their profile?

We will let you know the tenant details including their family details, occupation, etc. before they are finalized. You can specify any pre-conditions (e.g. families only, no pets) before we start our tenant acquisition drive. However, please note that we cannot discriminate based on religion or caste.

 

What will be the lease duration with the tenant?

The lease agreements & renewals will be executed for a 11-month duration

 
Security Deposit and Rent Payment

 

Who pays the security deposit & monthly rent to me?

The tenant will pay the security deposit directly to the property owner. However, Easyleases will collect the monthly rent from the tenant and pay to the owner’s account after deducting Easyleases’ fees, GST and TDS (where applicable)

 

What is your policy on security deposit?

We charge at minimum 6-month’s rent as refundable security deposit from tenants

 

When will I receive the security deposit for my property?

We will work with the tenant to deposit the security deposit in your bank account within 7 working days after the lease agreement is signed

 

Would you charge any brokerage from the tenant who chooses my property?

No, we do not charge any brokerage from the tenants.

 

Who determines the rent for my property?

As the property owner, you will decide the rent for your home. We will work with you to make sure the rent is in line with market expectations and the prevailing rental in that area.

However, in case of Guaranteed Leasing, the rent will be proposed by Easyleases

 

When will I receive my rent in my bank account?

You will receive the rent on or before 15th of every month for the current month. For e.g. you will receive the rent on or before 15th of February for the month of February.

 

What happens if the tenants don’t pay rent?

Easyleases will pay you the rent irrespective of delays from tenant end. We follow-up with the tenants for prompt payment of monthly rent and levy late payment charges to deter late payments from tenant. If any tenant is found to be a regular defaulter, he/she will be served termination notice in accordance with the lease agreement and the pending rental payments will be deducted from the security deposit

 

Will there be any tax deductions on the rent paid to my bank account?

TDS is applicable in following scenarios:

  • NRI clients: 10% TDS on rent will be applicable
  • Indian Residents: If monthly rent value is greater than Rs. 50,000 then 5% TDS will be applicable

Note the TDS laws are subject to change based on Income Tax rules decided by Government of India

 

Who pays the monthly maintenance charges to the Apartment Owners’ Association or the Society?

Maintenance charges payment can either be paid by tenant directly to the Owner’s Association or the maintenance can be paid by tenant to owner combined with monthly rent. As property owner you can specify your preference in mode of maintenance payment.

 
Property Management Services

 

What services do you undertake towards maintenance of my property?

We undertake complete, end-to-end maintenance of your property on your behalf. All maintenance issues raised by the tenant or otherwise are attended to by us, with necessary pre-approvals from the property owner. Some of the services are listed below

Tenant acquisition & screening

  • Execution of lease agreements & collection of security deposit
  • Tenant move-in and move-out formalities
  • Monthly rental collection & deposit
  • Semi-annual property inspection
  • Resolving ad-hoc maintenance service requests from the tenant

 

How do you undertake maintenance/repair work for my property and what is the process for fee settlement?

We use qualified 3rd party vendors for all maintenance work. Easyleases will raise a bill on the property owner towards the maintenance expenses, and the same can be paid directly to the Easyleases account.

 

What is the scope of your Property Management Services (PMS)? What are the charges?

Under PMS, Easyleases takes care of end-to-end maintenance relating to upkeep of your property. We charge a certain percentage of monthly rent depending on the leasing model. Please email us at query@easyleases.in and we would be happy to explain our service and associated charges. We only get paid during the period the property is occupied.

 

Who pays for any maintenance work undertaken at my property?

Tenant Pays

  • In case of any breakage or damage caused to the property due to tenant negligence
  • For any day to day maintenance of electrical or otherwise appliances or any other movable/immovable furnishings provided

Owner Pays

  • In case of damage to property due to normal wear & tear 
  • In case of any structural issues example seepage.
    •   

Will I have a single point of contact at Easyleases for all my queries?

Yes, a Relationship Manager (RM) will be assigned to you who will be your single point of contact.

 
Tenant Management

 

Will the tenant reach out to me for any maintenance issues?

No, we will be the single point of contact for the tenant for all their queries or requests. We will address/resolve their queries while keeping you approved or taking pre-approvals from you where necessary

 

Can I inspect my flat during the lease tenure?

Yes. Please give us 1 business day’s notice and we will work to schedule your visit based on tenant’s availability

 

What if I need to communicate with my tenant?

While you will have the tenant details, we would request that you treat us as the single point of contact for all tenant communications. We will help you reach out to the tenant at all times. This will help streamline our Property Management Services and avoid potential confusions & disruptions

 

How would you make sure that the tenants do not cause nuisance in the society and do not damage my property?

Firstly, the rules and expectations will be clearly outlined in the lease agreement. If there are any complaints from the neighbours/society, we will talk to the tenants and make them understand.

We conduct on-demand and semi-annual property inspection to make sure that the property is well maintained. If we find any damage that is caused by the tenant, then we will undertake repairs at the cost of the tenant.

 
Dashboard
 
Where can I access the Easyleases dashboard?

You can login into your account at www.easyleases.in and access the dashboard

 

How does the dashboard help property owners?

Property owners can in real-time view details of their tenants, agreements, security deposit and monthly rental payments. This helps establish transparency and enables the owners to track their finances as well

 

TENANTS

 
Finding My Rental Home

 

How can Easyleases help me in finding my rental home?

Easyleases offers a wide range of rental home options across Bangalore. You can log on to www.easyleases.in and search for your dream rental home sorted by area, rent and other factors.

You can also email us at query@easyleases.in and we will be glad to assist you in finding your rental home.

 

What categories of rental homes are offered?

We offer rental homes for families and students & working bachelors on co-living basis

 

Do I have to pay any brokerage to Easyleases at the time of booking my rental home?

No. We do not charge any brokerage from the tenants. However, we do charge a small fee of Rs 1000 + GST to cover for legal documentation costs.

 

Would the properties be furnished?

As part of the property description on the Easyleases website, you can ascertain if a property is furnished, semi-furnished or un-furnished

 
Booking Process
 
I am liking a property. How can I book it?

You can book the property by either of the two options below:

  • Pay a token amount online and block the property. This way, the property will be reserved for you and cannot be booked by other prospective tenants. You can then schedule a site visit to confirm your interest in the property. The token amount is refundable in case you subsequently decide not to go ahead with the property
  • Schedule a site visit online. In case you decide to go ahead with the property post the site visit, you can book the property – subject to its availability – by paying a token advance

 

How will know if my booking is final?

Your tenancy finalization will be subject to the property owner’s approval and validation of the following documents:

  • Aadhaar Cord - ID and address proof
  • PAN Card
  • Employment details and proof
  • Bank account details accompanied by a cancelled cheque

 

What happens to my token advance if I change my mind & decide to cancel?

You can choose to cancel your booking at any point and your token advance would be refunded to your bank account within 7 working days

 

What happens to my token advance if the owner rejects my tenancy request?

In case of rejection by the owner, your token advance would be refunded fully to your bank account within 7 working days

 
Agreements

 

What agreements will I be required to get into as a tenant?

You will only need to sign a “Leave and License” agreement with the property owner. A copy of the executed agreement will be delivered to you by your move-in date

 

Will Easyleases be a party to the lease agreement?

No, the lease agreement will be directly entered to between the property owner and the tenant. Easyleases will only facilitate the execution of the agreement

 

What will be the duration/tenure of the lease agreement?

The lease will be for a tenure of 11 months, extendible by further periods of 11 months each

 

Is there a lock in period?

Yes, subject to type of property (co-living or flat) lock-in period may be decided at the beginning of the contract (minimum of 2 months). Lease renewals beyond the initial 11-month duration will not be subject to any lock-in period.

 
Security Deposit & Rent
 
 
What will be security deposit for my rental home?

The security deposit will be equivalent to 6 months’ (six months’) rent

 

How & when do I pay the security deposit?

You can transfer the security deposit directly to the owner’s bank account. The full security deposit needs to be paid before the move-in date

 

I paid the security deposit fully but not moved-in yet. I am now not keen on this property so want to cancel. Can I, and will there by any charges?

If you decide to cancel after execution of the lease agreement, your security deposit will be refunded after deduction of charges incurred in executing the agreement, administrative expenses and a penalty equivalent to 2 weeks of rent.

 

Is the security deposit refundable when I vacate the property?

Yes the security deposit is refundable and will be paid when you vacate the property. There could be deductions towards any repairs / re-painting as necessary – these will be specified in the lease agreement

 

Is the amount of security deposit negotiable?

No, the security deposit equivalent to 6 months of rent is standard and applicable to all the tenants on our platform

 

I am moving out in two months. Can you deduct the last 2 months’ rent from my security deposit?

No. Security deposit is meant to cover any damages to the property. Rental payments cannot be adjusted against the security deposit without the property owner’s explicit approval

 

Is the monthly rent inclusive of maintenance charges?

As tenant you may be required either to pay maintenance directly to the owner’s association or the maintenance might be paid along with monthly rent. The mode of maintenance would be agreed before signing up and documented in the “Leave and License Agreement”

 

When is the rent payable every month? Which account should it be paid to?

The rent is payable on or before 5th of the month for the current month. For e.g., the rent for January will be due by January 5th.

Rent will need to be paid to the Easyleases Nodal (Escrow) bank account

 

What if I forgot and paid the rent late in a month?

This will attract late payment charges with minimum penalty and annual interest components, details to be documented in the agreement. To avoid this, we would urge you to provide a standing instruction to your bank to transfer the rent on or before 5th of each month.

Non-payment of rent by 15th of the month will mean breach of the lease agreement and you could be asked to vacate the property. The rent due from you along with the late payment charges will be deductible from the security deposit

 

What does the rent exclude / not cover?

Apart from the monthly rental, you will be required to pay the following charges directly:

  • Monthly maintenance charges
  • Electricity charges
  • Water charges
  • Maid – recurring or any ad hoc charges
  • DTH / Cable TV connection charges
  • Internet connectivity & usage charges

 

What options do you provide for rent deposit?

You can pay the rent via direct bank transfer (NEFT) or Online Payment Gateway options – UPI, NetBanking, debit, credit cards. Cheque/cash payment is not accepted

 

Is TDS applicable on the rent payable to Easyleases account?

Easyleases will take care of the TDS obligations. As a tenant, you don’t need to deduct TDS.

 

What would be the annual raise in rental?

The annual increase in rental will range from 5% - 10% depending on the property and the location

 

General House Rules and Policies

 

When can I move into the property?

The move-in date will fall after the lease agreement is executed and you have transferred the full security deposit to the property owner’s account. It cannot be earlier than the lease start date mentioned on the lease agreement

 

When will the rent kick-in?

The rental will kick-in as per start date defined in the agreement. You may decide to move-in on same date or later as your discretion.

 

Do I need to take pre-approval from the Society/Apartment Owners’ Association before moving my goods?

No. We will co-ordinate with the owner and the Society to obtain the necessary permissions for your move-in. However, you will be required to pay any caution deposit that the Society may charge for your move in

 

Are pets allowed in my chosen rental home?

This will be completely at the discretion of the property owner and guided by any applicable society rules. Also, you will be liable to pay for any damages that the pet may inflict on the property or on the neighbors

 

Can I host parties at my rented home?

Yes but as along as you do not cause nuisance to your neighbors and abide by the rules of the society / property owner. Repeated violations will be considered a breach of the lease agreement and you may be asked to vacate the property with potential liabilities to pay penal charges

 

Who is responsible for the property upkeep?

As the tenant, you will be responsible for the upkeep of the property. Any damages to the property including furnishing & fittings will be charged to you along with our administrative expenses

 

How many sets of keys will you provide for the tenant?  What if I lose a key?

Two sets of keys will be provided to the tenant. In case of loss of keys, the tenant will be responsible to re-make the key. At the time of move-out, any missing keys will be chargeable