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A Case Study of Rental Management in India Under COVID19

In: Future of Work and Business in Covid-19 Era

Author

Listed:
  • Devashish De

    (Tata Institute of Social Sciences (TISS))

  • Shalini Mahapatra

    (KIIT (Deemed To Be a University))

Abstract

India lacks a formal social security system. However, there is scope to develop a few systems, empowering some desired sections financially. In the recent past, post the onset of COVID19, a number of Indians have chosen to adopt a ‘Start Up’ mechanism using proprietary trade secrets. These mechanisms are not new, have existed informally and have been carried forward through generations. This paper is an attempt to lay the blueprint of a social security system which can be adopted by the elderly urban middle class of India, giving them a more profitable, safe and lucrative money generation means, through their real estate assets. The rental laws of India are fluid, allowing the middle-class real estate owners to fall prey to unknown and unexpected complications, creating legal turmoil. The call of the hour is to restructure rental arrangements, keeping the safety of the owner as priority without neglecting the preferred requirements of the tenants. A probable symbiotic arrangement, which by all means can provide professionals, a stay and vacation option. This dwelling space would allow them to work and holiday from anywhere, away from their designated office space. These stay and vacation options can also create the scope of living in larger spaces for professionals with pocket suiting investment. The profiteering objective of Rental Management of Real Estate renting process can be redefined easily by the creation of a ‘Renting Appraisal App’, making it convenient and transparent for the property owner and the rent seeker.

Suggested Citation

  • Devashish De & Shalini Mahapatra, 2022. "A Case Study of Rental Management in India Under COVID19," Springer Proceedings in Business and Economics, in: Rabi Narayan Subudhi & Sumita Mishra & Abu Saleh & Dariush Khezrimotlagh (ed.), Future of Work and Business in Covid-19 Era, pages 341-362, Springer.
    • Handle: RePEc:spr:prbchp:978-981-19-0357-1_29
    DOI: 10.1007/978-981-19-0357-1_29
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