NoBroker is a real-estate platform that makes it possible to buy/sell/rent a house without paying any brokerage.
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.
- The offer is exclusive for ICICI Bank customers.
- The customer has to provide ICICI Bank account details for all rental inflows.
- 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.
- 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.
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.
Customers will visit
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.