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As they say, fools build properties and wise live in them. That was and probably still is true for England and the English. It was fine for India too but only till mid-seventies. Those were the times when people were least interested to buy houses for themselves to call them their homes. Rentals were fun, say Col Fernandese, as they were not accounted for as big regular money. Residential rental properties in India were dime a doze. Few built them and god knows with what mentality, threw them for measly sums of money as rentals. Then came times when suddenly the house owners realized that they could depend upon rental incomes as life-time pensions once they built up an accommodation by hook or crook. Those were the times when most of the old properties fell to the low-paying tenants, who occupied them for several generations and still continue at the peril and disaster of house owners and their generations, thanks to the archaic rent control laws which favoured tenants against the owners. Tenants came to be known as the most hated tribe on the property front. Laws changed a bit, not so much though. Atleast the high-paying tenants were no longer enjoying high protection. Paying guest system brought in a new concept with singles and not-so-annoying occupants. House owners started converting their properties into PG hostels. Singles came in hordes to fill up the call centre industry and also the apartments in the new real estate areas like Gurgaon. The rental properties in Gurgaon skyrocketed. The PG in Gurgaon flourished. The residential rental properties in India are a new mantra for high income in the country, with huge options available to the property owners. Rentals are a fun now, not for the payers; for the owners. But then even the tenants do not mind them any more. Article Source: http://www.articlewheel.com
Author's Bio: Smantha Sen is an associated editor of website www.realtymantrarentals.com. The website is a rent guide, dedicated to provide all information required for rental properties all across India. Your queries and suggestions are welcomed at smanthasen@gmail.com.
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