98% of our new building work is complete now. It’s still not fully done yet, but we finished things that are required to give it for rent.
Only outside work like - color painting, MS fabrication work, and road work are the few currently pending in the new building. But we still started to give it for rent instead of waiting for the House Warming function to get over.
We cannot do the housewarming until February, so my Dad told me why to wait to give all the rental units for rent. Later we can do our housewarming function.
At first, I was NOT OK with the idea… but after thinking, I said OK and started to give it for rent.
I made the right decision.
Because in the new building, we currently have 8 1 BHK houses, and as soon as we put the To-let board, within 3 weeks, 5 units were already booked and started collecting rent.
And many of them, we had to REJECT them due to the minimum eligibility requirement we had set for.
I’m confident the remaining 3 units will get filled in the next 15 days.
If I had kept waiting, I would have lost RENT.
Let’s do the Math…
Each 1 BHK we are renting for.. ₹5,500 to ₹6,000.
For a single person, we are charging ₹5,500
For Two People we are charging ₹6,000
Based on the current booking, we are averaging ₹5,700 per house. So 5700*8=₹45,600 rent we would be losing every month if we kept waiting, and I don’t like losing money.
So I guess that’s a good suggestion from my Dad 🙂
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