Investing in the Kochi real estate market is a wise decision. The city is one of the fastest-growing cities in India and it is also a top real estate market. The demand for rental properties is expected to be high in the coming years due to the influx of professionals demanded by the rapidly growing IT and allied industries. However, one cannot just invest in any property in Kochi. A property that will generate high rental returns must be carefully chosen by following certain tips.

Let us discuss these below:

1. Property location

The location of the property will determine the rentals it will earn. For high-return rental properties, one must look for localities that are already established as main hubs or those that have high growth potential. Investors can search for flats in Kochi in hubs of Kochi like Kakkanad or explore new locations like Edappally which have a potential for future growth. Tenants will usually choose locations that are easily accessible and have all the basic amenities and facilities.

2. Connectivity

The property should be well-connected to different parts of the city by road or rail using personal or public transport. Tenants usually look for a property that is easily reachable to and from their workplaces. The property should be close to or easily accessible from business districts, IT hubs, and important office locations. If they are not close, they should be easily reachable using public transportation.

3. Reputation of the developer

The Kerala real estate market is growing with many developers and builders wanting to make their mark. Choosing a reputed builder is the best way of safeguarding your investment. A reputed developer will have the best construction quality, facilities, and amenities. An investor cannot be spending money on repairs and maintenance within a short span of investing in the property. A tenant will always look for a property that is of good quality and is well maintained.

4. Social infrastructure

Educational institutes, schools, colleges, hospitals, and supermarkets are necessities tenants look for. The presence of these in close vicinity of the property increases the chances of tenants choosing the property. Owners can also charge a premium for the convenience of these properties ensuring a better quality of life.

5. Future growth and appreciation

With the growth of real estate investment in Kochi, many new micro-markets are being formed on the outskirts of the city. Nettoor and Maradu are such micro markets that are poised for development in the future due to their rapid urbanization. The properties in these upcoming locations are cheaper than those in the heart of Kochi. With the growth in physical and social infrastructure, the property prices and the rentals these markets command keep appreciating. By identifying and investing in reputed projects in Nettoor and Maradu early on, one can earn good returns in future.

High-return rental properties give a regular source of income. By identifying good properties at the right location investors can enjoy the benefits of additional income which will keep appreciating with time.

Investing in property is one of the most lucrative means of increasing your net worth today. Especially in one of the fastest-growing real estate markets, buying property is a smart decision as it not only provides appreciation on the investment but also regular rental returns. However, like any asset, property too needs to be managed effectively to maximize the returns it generates. Homeowners should follow a strategy to maximize rental returns on their property.

Important property management tips are discussed below:

1. Setting competitive rental rates

A thorough market research will give an idea of the prevailing rental rates for the property in Kerala. Factors like location, property size, amenities, and facilities need to be considered. By offering competitive rates you can expect your property to be rented faster without having long gaps in between tenants. Although tenants try to negotiate the rental rates it is always best to not allow too much leverage. This may make the tenant doubt the property’s condition or if there are any issues with the property.

2. Screening tenants

A thorough screening process of the tenants becomes necessary to ensure that the tenant does not create problems in the future. Background checks, credit checks, employment references, and supporting documents should be verified for the authenticity of the prospective tenant. Valid identity proofs like Aadhar card, PAN card, police verification, etc should be collected during the tenant registration process. This will ensure that the tenant does not default on the rent, damage the property, or threaten eviction.

3. Lease Agreement

The lease agreement is an important document that spells out the terms and conditions of the contract between the owner and the tenant. The lease agreement should be clear, concise, and easily enforceable without any ambiguity. The agreement should protect the interests of the property owner with provisions for the rent increase, late payment penalties, maintenance of the property, and renewal terms. It is mandatory to register the agreement with the authorities for it to be valid and enforceable. By avoiding potential disputes, the homeowners can ensure that the rental income is protected and there are no unnecessary expenses.

4. Maintenance of the property

A well-maintained property will attract the best tenants and ensure competitive rentals. Regular inspection of the property making sure there are no repairs, damages, or leakages, and performing necessary maintenance will justify the rent and a good relationship with the tenant. A well-cared property leaves a good impression of the owner amongst the tenants and brokers.

By setting competitive rentals, screening tenants, maintenance of the property, and having all the legal documentation and process in place, homeowners can rest assured of the expected returns on their property.

A gated community is a residential complex with all the amenities and facilities enclosed within the main gates of the complex. Most builders in Kochi ensure the complexes have security and safety measures with boundaries so members are safe and comfortable. Although friends and families are allowed, they do not enjoy the same privileges as those of members who live there.

Let us dive deep into these privileges and understand the benefits of gated community living:

Security and Safety

Gated communities are manned by security at the entry and exit points of the residential complex. All luxury apartments in Kochi facilitate security personnel and surveillance systems like CCTV cameras. These ensure any unwanted entities disturb the members living on the premises. Emphasis is laid on the safety and well-being of children of all ages with the right policies for their entry and exit. This takes away stress parents experience when young children go out of their homes to play or socialize.

Traffic restrictions

In many gated community apartments in Kochi, outside vehicles are not allowed into the premises of gated communities. Moreover, those that are allowed need to register themselves in the records maintained by the security agency. The movement and speed of vehicles are restricted to avoid any untoward incidents. These rules are commonly adhered to strictly in most gated communities ensuring the safety and well-being of residents.

Community Living

Gated communities create a sense of belonging and connectedness among members. The members can socialize on special occasions and festivals forming a bond. Most gated complexes are cosmopolitan these days where festivals like Holi, Ganesh Chaturthi, and Deepawali. The bonds formed over the years help in supporting each other every day and during crises if any. Information exchange helps parents and their growing children to make the right choices and decisions.

Amenities and Facilities

Using amenities like a swimming pool and sports facilities creates bonds among the members and friendships among children. Networks and social connections are always useful in a social set-up to deal with challenges that members may face or to have good times. Children can learn social skills at social events which may not be possible in isolated buildings.

Exclusivity

Gated community complexes in Kochi offer privacy and exclusivity of a different kind. It could be a township property in Kochi or one that has luxury villas for sale. The members of these gated communities spend their weekends in style. They have access to many different amenities which offer a host of activities they can indulge in. Weekends are like short vacations when one can get together with friends and enjoy a group activity like sports or dance tutorials. If you want to be alone, you can choose a book from the common library and lose yourself as you stretch on a hammock. The choices are endless.

As we can see, living in gated communities has many advantages that improve the quality of life by many folds. These advantages ensure residents enjoy a safe and fulfilling life.