Home >News >India >Most landlords are helping tenants with rent waive-offs and extension of due dates: Survey
A majority of real estate brokers feel that the demand for flats would go down after coronavirus lockdown.
A majority of real estate brokers feel that the demand for flats would go down after coronavirus lockdown.

Most landlords are helping tenants with rent waive-offs and extension of due dates: Survey

  • Nearly a half of landlords have not increased rent during lockdown, according to a survey report
  • Majority of the owners who want to rent out their property expect the rental prices to go down

NEW DELHI : Amid the coronavirus related lockdown across India, most landlords are being kind to tenants who are suffering from financial stress, according to a survey report released today. Around 16% landlords waived off rent for two months while another 41% provide extension on rent payments, a survey by online real estate portal 99acres.com says.

The portal conducted a study amongst brokers and owners who want to rent out or sell their property to understand the impact of COVID-19 on their behaviour, preferences and expectations.

The survey found that most of the landlords are extending a helping hand to the tenants -- 44% have not increased the rent, 41% are giving more time to their tenants to pay and 16% have waived-off the rent for up to two months.

Despite the sluggish market, 76% owners are still looking for renting out their property whereas 24% have postponed the search for tenants. Majority of the owners (54%) who want to rent out their property expect the rental prices to go down, while only 11% are anticipating a rise.

Despite the stagnant market, 80% of the owners said they will continue to look for prospective buyers while 20% have postponed their selling plans. 45% of the owners who are trying to sell their property expect the prices to fall, while only 10% are anticipating a rise. The balance 45% anticipate no change in prices.

On the demand for real estate after lockdown ends, 57% of the brokers fear that the market will go down while 29% are uncertain about future changes. Almost 50% of the brokers who predicted a major slowdown suggested that the demand will take more than two quarters to revive.

Subscribe to Mint Newsletters
* Enter a valid email
* Thank you for subscribing to our newsletter.

Click here to read the Mint ePaperMint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.

Close
×
My Reads Redeem a Gift Card Logout