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NoBroker Offer - Pay 8% of the monthly rent.

Offer period: Till Sep 30, 2021

Offer Expired

Rental Guarantee Plan: Pay 8% of the monthly rent, as against standard charges of 10% and get assured rentals.

Offer Description

NoBroker is a real-estate platform that makes it possible to buy/sell/rent a house without paying any brokerage.

Offer:

Exclusive price on NoBroker Property Management services for ICICI Bank customers:

Rental Guarantee Plan: Pay 8% of the monthly rent, as against standard charges of 10% and get assured rentals.

No Rental Guarantee Plan: Pay 5% of the monthly rent, as against standard charges of 8% and earn from rental income.

This offer is exclusively available for ICICI Bank Home Loan customers.

Steps to avail the offer:

  • Click here to visit NoBroker’s Property Management services
  • Submit your details, after which you will receive a call from our executive
  • We will initiate a tenant search for the property, on subscription to the plan. A refundable security deposit amount of Rs 10,000 will be payable.
  • A dedicated Phone Relationship Manager and a Field Relationship Manager will be assigned for updates from tenant interactions
  • Once the tenant is finalised, a Property Manager will be assigned, who will stay in touch with you and the tenant, as a single Point of Contact (POC) for all grievances and services

Offer validity: Sept 30, 2021.

Terms and Conditions

Key Terms and Conditions

  • The offer is exclusive for ICICI Bank customers.
  • The customer has to provide ICICI Bank account details for all rental inflows.

Agreement between NoBroker and Owner

  • NoBroker will provide the following property management services to owner for 3/5 years
  • NoBroker will assist the owner in searching and finalizing the tenant for the property
  • NoBroker will collect monthly rent from tenant and deposit it in owner’s account after deducting its fee
  • NoBroker will collect security deposit and deposit owner’s security deposit in owner’s account
  • NoBroker will provide an inspection report to the owner once every 6 months
  • NoBroker will verify the tenant and provide CCV (criminal court verification) report of tenant and biometric registration on chargeable basis (divided between Owner and Tenant).
  • NoBroker will facilitate repair services for the repairs to be done by the owner as per the request of the owner
  • NoBroker will assist the owner for police verification of tenant(s) as per the request of the owner
  • NoBroker will transfer the rent (net of the monthly fee) by 10th of every month; in case the transfer happens later than 10th then late payment charges of Rs 50 per day to be payable
  • NoBroker monthly fee of 8% of monthly rent for property management services with rental guarantee (Irrespective of tenant available or not, rent will be paid by NoBroker)
  • NoBroker monthly fee of 5% of monthly rent for property management services with rental payment when the property is occupied.
  • A refundable deposit of Rs. 10000/- (“Refundable Deposit”) will be initially collected per property from the owner which will be refunded with the tenant's third month rent (i.e. post completion of 3 months lock-in period).
  • A security deposit of 3 months from tenant – 2 month security deposit to owner and 1 month to be kept with NoBroker (1 month) to manage early leaving of tenant and to make house rentable for next tenant home maintenance, painting, cleaning, etc.
  • Calculation of monthly rent would be as follows:
  • Tenant finalized by owner or tenant already staying – actual rent paid by the tenant
  • Tenant yet to be finalized – NoBroker will provide free services (that would have 1 on-call relationship manager and 1 field relationship manager) to search the tenant for the property. Actual rent agreed with the tenant would become the Monthly rent and will take a maximum time of 30 days to finalize the tenant.
  • In case, you find out a tenant before NoBroker finalizes then you are eligible to ask for stop the services and will refund the initial paid amount without any deduction.
  • Start date of agreement – Move-in date of first tenant or agreement date whichever is later
  • 1-month notice has to be given by both the parties to end the contract
  • Every 11 months completion the rent will be hiked minimum 5% to maximum 10% and the same will update once the tenant is finalized. 

Agreement between NoBroker and Tenant:

  • NoBroker to be authorized representative of the owner to manage the property including collecting the Monthly Rent and Security Deposit on behalf of the owner
  • 6 months lock-in period for tenant; 1-month rent to be deducted from the security deposit in case Licensee leaves before the lock-in period
  • 15 days security deposit to be transferred by tenant as token money, which will become part of security deposit payable by tenant
  • Contract duration of 11 months between tenant and NoBroker – the extension will be mutual including the revised rent
  • In case of a negative report of CCV (criminal court verification), 2 months security deposit will be forfeited and tenant will have to vacate the flat with 1-day notice
  • A security deposit of 3 months (or on actuals) from the tenant.
  • Tenants will have to pay the monthly rent by 5th of every month; in case the transfer happens later than 5th then late payment charges of Rs 50 per day to be payable.
  • Normal wear and tear expenses; damage to the house caused by tenant and utility bills to be borne by the tenant.
  • 1-month rent to be deducted from the tenant's deposit to make the house rentable for the next tenant.
  • Any move-in / move-out fee charged by the housing society to be borne by the tenant.
  • Either party can terminate the agreement by giving 1-month notice post the lock-in period.

Refund conditions:

1. If NoBroker is not able to finalise the tenant within 30 days, the amount 10000/- will be refunded to the owner. 2. If Nobroker is able to find a tenant for your property in 30 days of time this 10000/- is refunded back to you in the third month rental. 3. If the owner gets a tenant from any other sources apart from NoBroker, the amount of 10000/- will be refunded to the owner.

Customer Journey:

Customers will visit

https://www.nobroker.in/prophub/property-management/property-management-in-india/?utm_source=icicibank&utm_medium=email&utm_campaign=property_management

or

http://nobr.kr/sv/QJ7Wd

give their details and will receive a call back from our executive to initiate the process further.

  • Once the owner subscribes to the plan by paying Rs.10000/- of refundable security deposit, we initiate the tenant search for his property.
  • For this, one dedicated phone relationship manager and field relationship manager is assigned to the owner who will update him regarding all the tenant interactions.
  • Once the tenant is finalised, a property manager is assigned who will stay in touch with the owner and the tenant and will be a single point of contact for all grievances and services mentioned above.

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