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Tag: Housing Property

  • 10 Best Property Management Software in 2023

    You wake up one day and see dozens of messages, complaints and multiple requests from your tenants. As soon as you go through the first request, you get ten more at once, putting you under pressure. Responding to all tenant requests is difficult and practically impossible to accomplish.

    Whether you are an independent landlord or a commercial property manager, managing your property is vital to surviving in the highly competitive modern-day market. Apart from this, it is equally important to automate and streamline your tasks.

    However, managing properties can be a complex and time-consuming task, especially for property managers who are responsible for multiple properties. This is where property management solutions come in. Messages, requests, or complaints, property management software allows you to streamline all these under a single bracket.

    So, what is property management software? How do they work? This article will give you a brief overview of property management software, as well as give you a rundown of the top property management software options on the market today.

    What Is A Property Management Software?
    Types of Property Management Software
    How to Select Property Management Software
    10 Best Property Management Software

    1. Rent Manager
    2. Appfolio
    3. Yardi Voyager
    4. MRI Software
    5. TenantCloud
    6. Buildium
    7. Spark Rental
    8. Re-Leased
    9. Propertyware
    10. Condo Control

    What Is A Property Management Software?

    Property management software is an app-based software tool that comes with multiple functionalities that allow landlords and commercial property managers to streamline their day-to-day operations. Property managers can automate their back-office, financial, and administrative processes with property management software.

    A typical property management software generally offers the following features:

    • Maintenance Tracking
    • E-Leases And Lease Management
    • Document Storage
    • Online Tenant Portal
    • Rent Payment Processing
    • Tenant Checks (Screening)
    • Property Marketing
    • Online Payment Processing

    Depending upon your needs and requirements, the property management software you select will offer you a wide range of services based on the size and type of your portfolio.

    Most Common Property Management Services
    Most Common Property Management Services

    Given the various features present, property management software saves you precious time by significantly reducing your workload and streamlining existing workflows. Whether you’re managing thousands of units or you own only one property, property management software can make your life easier.

    The primary benefits associated with property management software can add to the growth of your business as well as create new opportunities to grow.

    Here are some of the benefits:

    • Streamlines Accounting
    • Automates Communication System
    • Acts as a Growth Catalyst

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    Types of Property Management Software

    As we mentioned earlier, whether you are managing multiple units or just a single property under your management, property management software can make life easier. Accordingly, this property management software is divided into two types as

    1 – Residential Property Management Software

    Residential property generally refers to residential housing, student housing, and other affordable housing societies that are usually managed by independent landlords who manage not more than 5 properties at a time.

    Accordingly, property management software for residential properties is generally free to use and provides a good degree of automation by providing the features you need. However, if you manage more than 100 properties, then you need something more powerful that allows you to automate your administrative tasks.

    Residential Property management software is a basic solution that gives you all the must-have features followed by some advanced add-ons like AI Leasing and 24/7 customer support.

    2 – Commercial Property Manager Software

    Unlike residential property management software, commercial property management software is more robust and is made primarily if you own properties such as retail stores, office spaces, industrial properties and more.

    Commercial property management software gives you all the solutions followed by marketing and leasing features curated especially for your commercial needs. Commercial property management software provides all market features which are not found in any residential property management software. This includes features such as common area maintenance, corporate accounting, and so on.

    How to Select Property Management Software

    When researching property management software, make sure you take into account the size and type of portfolio you have. Furthermore, there are certain criteria you should also consider while evaluating property management software. To avoid common mistakes in evaluation, here are the factors to consider when selecting a property management software:

    Features

    When it comes to choose property management software, it is important to be aware of the features of the management software. But with dozens of features, it can be hard to keep track of which specific feature is present in which software.
    The best way to do this is to create a feature track sheet that includes the features needed and then all the additional features you think might be nice to have. Doing so will help you narrow down the platforms based on relevance. Maintenance tracking, in-app messaging and online payment processing are just some of the features that will help you customize your business. Meanwhile, extra features usually mean you have to give up some essential features.

    Usability

    Most software management software comes with a free trial feature that allows you to evaluate the usefulness of the software for a set period of time. While choosing a property management software, the free trial will help us evaluate its usefulness and get a rundown of the various features and workflows and get an overall feel of the software.

    From the user interface to the features, the free trial gives you a walkthrough of everything. If some management software doesn’t have a free trial feature, you can always schedule a product demo.

    Price

    Once you are done with the free trial or a product demo, it’s time to move ahead with one of the shortlisted software. Each property management software will have different prices depending on the sophistication of the product. While some software will charge you monthly fee, some prefer to charge their clients an annual fee for their services. Furthermore, the pricing also depends on whether you are a small business owner or a commercial property manager.

    Customer Support

    When it comes to using property management software, you know you will be using it constantly. However, this makes it prone to certain issues every now and there. This is where you need software with an exceptional customer support programme.

    Rock-solid customer support can be crucial and a time-saver when it comes to troubleshooting. Also, if you are using a particular software for the first time, the customer support can help you solve many of your queries.

    Here is how you can evaluate the level of customer support based on the following questions

    • Does the software company have live chat, phone, and email support?
    • Is there one-on-one onboarding support present?
    • Does the company provide customer support services 24/7?
    • Is customer support a part of all subscription plans?

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    10 Best Property Management Software

    Imagine using a fax machine in a land of smartphones. The idea is so crazy that one can barely imagine it. The same is the case with property management solutions. Each passing year brings a plethora of new software, while either ditching the existing ones or making significant updates.

    Be that as it may, you should stay on top of this matter and get the best property management software for yourself. However, given the number of options at your disposal, choosing the right software can be difficult.

    This is where we come, we have shortlisted the top 10 Best Property Management Software you should try in 2023:

    Rent Manager

    Website www.rentmanager.com
    Rating 4.4/5
    Founded 2020
    Users 3097
    Free Trial Available
    Platforms Supported Web, Andriod, iPhone/iPad

    Rent Manager Property Management Software
    Rent Manager Property Management Software

    Rent Manager is one the largest e-payments processor in the real estate industry with over 3 million units on its payroll. It is an extremely convenient and extremely easy-to-use property management platform that gives you access to dozens of features such as:

    • Management Database
    • Integrated Accounting
    • Contact Management
    • Work Order Capabilities
    • Marketing Solutions

    With access to these solutions, you can track, manage, and resolve your service issues while simultaneously keeping an eye on your accounts and finances in the form of detailed reports. Whether you are looking for tenants or buyers for a property, you can design a highly interactive design that integrates directly with Rent Manager.

    In addition, the platform is completely mobile-friendly which means you can accept payments, organize and supervise inspections, enter work orders, take photos and more, and note all issues and complaints on the go.

    Not only is Rent Manager for property managers themselves, but tenants also have access to real-time information and transaction records, sign their leases, pay rent, and perform other tenant activities from their app.

    Rent Manager Property Management Software

    Pricing:

    Plan Monthly Price
    Basic $1.00 Per Unit, Per Month, Unlimited Users
    Plus $1.50 Per Unit, Per Month, Unlimited Users
    Premium $2.25 Per Unit, Per Month, Unlimited Users

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    Appfolio

    Website www.appfolio.com
    Rating 4.6/5
    Founded 2006
    Users 17,000+
    Free Trial Available
    Platforms Supported Web, Andriod, iPhone/iPad

    Appfolio Property Management Software
    Appfolio Property Management Software

    If you are a company with a wide portfolio, then Appfolio property management software is the best for you. Whether you are managing a multifamily, single-family, condo, or student housing accommodation, Appfolio will for you. This comprehensive property management software is extremely easy to learn and equally easy to use. Furthermore, the developer team is constantly working on taking feedback, adding new features and improving the app.

    With AppFolio, you get access to features such as:

    • Owner Portal
    • Maintenance Request Management
    • Marketing Tools
    • Rental Application Management
    • Accounting
    • Lease Tracking
    • Contact Information
    • Billing and Invoicing
    • Commercial lease templates
    • Residential Lease Templates
    • Lease Origination

    Similar to Rent Manager, Appfolio has a mobile-friendly version, using which you can access all the important things on the go. This intuitively designed app is self-automated and has rich functionality that combines to provide you with a comprehensive user experience.

    The Plans for Appfolio start at $1.40/month and there is also a free trial for you to get an overview and check whether it suits your needs. Lastly, the user-friendly interface of the platform is easy to navigate and highly intuitive.

    Pricing:

    Residential:

    Plan Monthly Price
    Core $1.40 starting price per unit / per month
    Plus $3 starting price per unit / per month

    Community Associations:

    Plan Monthly Price
    Core $0.80 per unit / per month

    Commercial:

    Plan Monthly Price
    Core $1.50 per unit / per month
    Plus $3 per unit / per month

    Yardi Voyager

    Website www.yardi.com
    Rating 4.2/5
    Founded 2012
    Users 12,000+
    Free Trial Not Available
    Platforms Supported Web

    Yardi Voyager Property Management Software
    Yardi Voyager Property Management Software

    Unlike the previously mentioned software on our, Yardi Voyager is one of the few platforms that are perfect for both commercials as well as enterprise property management. Established in 1982, the company has received an A for its dedication to customer service when it comes to providing them with the best real estate software.

    Furthermore, you can customize this software based on your business requirements. Accordingly, the website will suggest custom quotes to choose from. With Yardi Voyager, you get access to several features that are specific to different types of residential and commercial properties such as:

    • Affordable Housing
    • Senior Living Facilities
    • Military Housing
    • Office Spaces
    • Retail Offices
    • Airports
    • Ports
    • Recreational Spaces
    • Parks
    • Government Edifice
    • Storage Facilities
    • Student Housing

    Depending on the type of portfolio you have, you bundle the specific products to build yourself software that will take care of everything right from marketing and leasing to accounting and reporting. Moreover, the software is mobile-friendly and is native to both Android and iOS.

    Given the diverse set of features present in Yardi Voyager, it is the perfect fit if you are a large property management company.

    Pricing:

    They have custom pricing. Contact Vendor directly for pricing information.

    MRI Software

    Website www.mrisoftware.com
    Rating 4.3/5
    Founded 2010
    Users 17,000+
    Free Trial Not Available
    Platforms Supported Web, Android, iPhone/iPad

    MRI Property Management Software
    MRI Property Management Software

    MRI property management software is designed exquisitely for commercial and large apartment buildings. What makes MRI software unique is that this property management software is generally owned collectively by a group of investors rather than a single landlord.

    Since a group of investors requires a certain set of tools for analysis, this software is heavier compared to the rest as it comes loaded with numerous features that cannot be found in other property management software.

    In addition to rental management, MRI software also has a few planning tools in its arsenal using which you can:

    • Manage And Plan Investments
    • Track Investments
    • Manage Spaces
    • Devise A Strategic Plan
    • Property Management And Accounting
    • Lease Abstraction
    • Facility Management

    Unfortunately, there is no free trial on offer. However, the software application is native to both Android and iOS and offers a comprehensive view of property management, accounting, and other facilities required for your real estate business.

    Pricing:

    They have custom pricing. Contact MRI software directly for pricing information.

    TenantCloud

    Website www.tenantcloud.com
    Rating 4.1/5
    Founded 2014
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad

    TenantCloud Property Management Software
    TenantCloud Property Management Software

    What makes this software unique is that this property management software is 100% free. If you’re a manager with 75 or fewer units, all of the features available are free to use. It is completely cloud-based service and does not have desktop installation. You get access to all the basic accounting features like online rent payments and financial reports. In addition, you can streamline your work order, vendor payments, and other related tasks.

    Although it is free, TenantCloud offers all the features one would expect from a paid application such as:

    • E-Payment Services
    • Tenant Screening
    • Late Fees Calculation
    • Advertisement
    • Maintenance Requests
    • Online Tenant Portal

    TenantCloud has online training, support, and product demos to help customers know what they’re getting. Additionally, the software has webinars on offer multiple how-to guides clearly designed followed by excellent 24/7 support for the customers.

    Pricing:

    Plan Monthly Price
    Free $0/month
    Starter $15/month
    Growth $50/month
    Business Custom plans

    Buildium

    Website www.buildium.com
    Rating 4.5/5
    Founded 2004
    Free Trial Available
    Platforms Supported Web, Android, iPhone/iPad

    Buildium Property Management Software
    Buildium Property Management Software

    If you are looking for full-featured software that does everything, then your search stops at Buildium. This multi-functional property management software has a vivid interface that allows you to perform several tasks with ease.

    You can manage vacancies, attend to maintenance requests as well as organize your accounting. Moreover, you can set up rent reminders, generate detailed reports on demand, and create a complete bookkeeping within minutes.

    Furthermore, the software allows you to choose a plan based on the size and type of property you own and manage. In addition to all the features present, Buildium has integrated with several third-party platforms such as Forte, HappyCo, Hotpads, Lovely, MSI, and so on.

    Pricing:

    Plan Monthly Price
    Essential starting at $52/month
    Growth starting at $166/month
    Premium starting at $479/month

    SparkRental

    Website Sparkrental.com
    Rating 4.7/5
    Founded 2016
    Free Trial Available
    Platforms Supported Web

    SparkRental Property Management Software
    SparkRental Property Management Software

    To manage your rental income, SparkRental is another piece of property management software using which you can post rental listings on multiple websites with a simple click. Moreover, you can request and manage all your rental applications online.

    Also, SparkRental allows you to download tenant notices followed by eviction notices for each state at no extra cost. Furthermore, with SparkRental, you can request an all tenant screening reports comprising credit, criminal, and prior eviction information.

    This property management software has a new feature in the pipeline that will soon allow property managers to outsource their property maintenance calls for a small monthly charge.

    Pricing:

    Pricing varies.

    Re-Leased

    Website www.re-leased.com
    Rating 4.5/5
    Founded 2012
    Users 6000+
    Free Trial Not Available
    Platforms Supported Web, Android, iPhone/iPad

    Re-Leased Property Management Software
    Re-Leased Property Management Software

    From commercial to residential, Re-leased will take care of all your property management needs. This automated and intelligent property management software will ensure that you never miss important dates, action items, or any lease event.

    With Re-Leased, you get a complete, timely and fully automated workflow on your dashboard that includes multi-layered reporting and an analytics report. Thanks to the software’s powerful insights, you can map out your areas of growth, improvement, and potential revenue streams to boost your overall work efficiency.

    Furthermore, the software offers a cloud-based application solution that allows you to access important information anytime, anywhere, and from both iOS and Android-powered devices.

    Pricing:

    They have custom pricing. Contact Re-Leased directly for pricing information.

    Propertyware

    Website www.propertyware.com
    Rating 3.8/5
    Founded 2008
    Users 1100+
    Free Trial Not Available
    Platforms Supported Web, Android, iPhone/iPad

    Propertyware Property Management Software
    Propertyware Property Management Software

    If you are a landlord who manages single family homes, you can understand how overwhelming property management becomes after a while. This is where Propertyware will be your best friend which is built with the simplest interface.

    Although it doesn’t have dozens of features as compared to other software, it has just the right amount of software suites you need when managing the above properties. The software is easy to learn and easy to use.

    Each plan present at Propertyware allows you to list vacant properties, screen new tenants, collect rental payments, schedule maintenance and receive your financial reports.

    Pricing:

    Plan Monthly Price
    Basic $1.00 unit/month
    Plus $1.50 unit/month
    Premium $2.00 unit/month

    Condo Control

    Website www.condocontrol.com
    Rating 4.7/5
    Founded 2008
    Free Trial Not Available
    Platforms Supported Web, Android, iPhone/iPad

    Condo Control Property Management Software
    Condo Control Property Management Software

    With Condo Control, you get software that is easy to use and is loaded with dozens of rich features that give you absolute control over your properties, both big and small. Established in 2008, Condo Control serves condominiums, co-ops, HOAs, and management companies, among other industries.

    This diverse range of features goes from accounting integration, online payments, announcements, violation tracking, schedule maintenance requests, and more. It can also integrate with various software solutions so it can play well with your existing processes. All these features streamline your workflow both as property managers and residents.

    Condo Control – Property Management Made Simple

    Pricing:

    They have custom pricing. Contact Condo Control directly for pricing information.

    Conclusion

    Property management software is cloud solution landlords and property managers can implement to help benefit their business. This software will help add to your profits by streamlining your business workflow and reducing workload. If you are a commercial property manager, these property software can be a major time-saver for your business.

    Most of these platforms are free to use while some charge you a monthly or yearly fee. However, make sure that you choose the software based on your needs and requirements, mainly the size and type of your portfolio. Also, to ensure that you get yourself the best software, make sure you consider software criteria such as usability features.

    As a landlord or a property manager, this property management software can be of great help in streamlining your day to day operations.

    FAQ

    What is property management software?

    Property management software helps landlords and real estate professionals track leases, residents and maintenance tasks, as well as collect rent and manage finances.

    Why do I need property management software?

    Property management software can help you save time and money by automating many of the tasks associated with managing rental properties. It can also improve the overall organization and efficiency of your business, making it easier to manage multiple properties at once.

    What to look for in property management software?

    Specific key rental management tools include professional-level accounting, online rent payment, tenant communications, asset control, inspections and maintenance.

    What is property management CRM?

    Property management CRM is specially designed software that helps property owners and managers to establish a successful relationship with current and prospective residents.

    Which is the best property management software?

    The following are the best property management software

    • Rent Manager
    • Appfolio
    • Yardi Voyager
    • MRI Software
    • TenantCloud
    • Buildium
    • Spark Rental
    • Re-Leased
    • Propertyware
    • Condo Control

    Can property management software help with tenant screening?

    Yes, many property management software solutions include tenant screening features such as background checks, credit checks, and rental history checks. These features can help you make informed decisions about potential tenants and reduce the risk of problematic renters.

    Can property management software integrate with other business tools?

    Yes, many property management software solutions offer integrations with other business tools such as accounting software, online payment systems, and marketing platforms.

  • DHFL Scam – The Complete Breakdown of the Biggest Scam in Indian History

    In the past few years, cases of many banking frauds have been gripping attention. Take the cases of these billionaire entrepreneurs like Vijay Mallya, Nirav Modi, and Lalit Modi, to name a few.

    When most of the investors thought that the economy would be retained and business will run like usual, the Indian economy seems to have been hit again by another corporate bandit. We are talking about what is known to be the biggest scam in Indian History – the DHFL scam after the ABG Shipyard fraud case of Rs 20,000 crore.

    Background of DHFL
    The Reveal of the DHFL Scam
    Breakdown of the DHFL Scam

    Background of DHFL

    Headquartered in Mumbai in the year 1984, the multinational housing corporation DHFL was founded with the idea to allow economical housing loans to lower and middle-income families in semi-urban and rural areas of India.

    The DHFL stands for Dewan Housing Financial Limited, a well-known non-banking financial service provider in India and also the biggest in the sector it operates.

    The Reveal of the DHFL Scam

    All the tension started to begin for DHFL when the Central Bureau of Investigation (CBI) charged them and others for duping a sum of Rs 34,615 crores. There are about 17 banks that have been tricked by home loan provider DHFL. Former CMD Kapil Wadhawan and director Dheeraj Wadhawan are among 13 others who have been booked in connection with the case.

    Kapil Wadhawan
    Kapil Wadhawan

    Let us go through the following points to know the story behind the biggest case probed by the CBI.

    The not-so-famous media house, ‘Cobrapost’ were the first one to reveal such shocking evidence against the DHFL company. They published an article citing the fraudulent activities carried out by the renowned housing finance company.

    They revealed that DHFL has been using the loan money for its benefit by buying personal assets like properties and lands. However, to gain confidence in the eyes of the public, DHFL filed a response with the Bombay Stock Exchange stating there is no proper weightage to the allegations raised by the journalist group and that it was an act of causing damage to the reputation of the company.

    To make the most out of these ‘false claims’ DHFL hosted conferences by inviting several investors/analysts to clarify that the Rs 31,000 crore loan is taken for an upcoming project.

    The matters got off-hand when recently the CBI booked former promoters of the DHFL group for defrauding 17 banks in an amount of Rs 34,615 crore.

    DHFL has borrowed a total of Rs 42,000 crore loans from banks like State Bank of India, and Bank of Baroda and the highest being borrowed from Union Bank of India (UBI), out of which DHFL has not paid a sum of Rs 36,000 crore. The UBI (Union Bank of India) has asked one of the leading providers of risk, financial, and corporate governance, KPMG to look into this matter.

    They have been accused of syphoning off the money to their other companies or Shell companies to buy assets at a cost of public sector lenders.

    The rating agencies downgraded the rating score on commercial paper after the company defaulted on debt payments. It was during this time when rating agencies involving ICRA and Crisil demoted DHFL’s worth of Rs 850 crore on commercial paper to ‘default’ from ‘A4’ because it had a mortgage lender’s deteriorating liquidity condition.

    Breakdown of the DHFL Scam

    The Resolution Plan

    DHFL tried to make an impression in front of the investors that they would be repaying them the full amount. They devised a resolution plan that transformed its debt into equity and moved to the court in the hopes that it would influence their plan.

    Raid by ED

    Following the court case, DHFL couldn’t remain safe as they were raided by none other than the Enforcement Directorate itself. The ED made claims that they found several linkages to money laundering. This money has been used for their advantage, which was intimately associated with the company’s promoters, especially Dheeraj Wadhawan. They also found that this loan money was also linked to the criminal organisation, Dawood Ibrahim.

    Removal of Board of Directors

    By this time, DHFL had no longer had power and control and was bankrupted due to which the Central Bank of India decided to remove its board of supervisors and managers. The decision took place under Section 45-IE (I) of the Reserve Bank of India Act, 1934.

    First Arrest of Kapil Wadhawan

    This created sensational news when the promoter of the DHFL, Kapil Wadhawan was arrested under the Prevention of Money Laundering Act (PMLA). The ED had found out that his firm was allegedly involved in providing loans to the criminal association of Dawood Ibrahim.

    Charge Against DHFL

    Recently, the CBI finally booked DHFL and 13 others related to this case for swindling 17 banks of Rs 34,615 crore. They are undergoing investigation by both the CBI and the ED. The ED has stated that Yes Bank is also involved in this scam.

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    Conclusion

    Scams like this can prove to cause huge damage to Indian investors. What can we learn from this is just that we need to have strong and stringent banking laws and policies. The country can only hope to see strict business and financial advisory groups without corrupted intentions.

    It is quite evident from the above-mentioned facts the DHFL scam remains the biggest scam to date. The case is still undergoing, and we can only wait for the judgment to come out.

    FAQs

    Is the DHFL scam true?

    Yes the DHFL financial scam is termed one of the biggest scams in the banking industry.

    What is the DHFL scam?

    DHFL has been charged for defrauding a total of 17 banks of over Rs 34,000 crore.

    Who is the owner of DHFL?

    Piramal Group is the parent company of DHFL.

  • Business Model Of Magicbricks: How Does Magicbricks Make Money?

    Are you looking for a more manageable home? A dream home? Or want a place you and your family can call home? Want a rental estate? Don’t know where to get the best area to dwell? Are these questions bothering you a lot? Real estate is usually the best investment choice for you. It can produce endless passive earnings and be an excellent long-term investment if the price rises over time.

    Magicbricks is India’s leading online portal for buying, selling, and renting Properties. The company also solves issues and concerns related to real estate investments. Founded in 2006, the real estate portal is owned and managed by Times Group ( Bennett, Coleman & Co. Ltd.)

    Magicbricks has been validated by consumers and several industries. It has been granted Super-brand status in the most recent survey by the Super-brands organisation. Lets get an insights on business model of Magicbricks and learn about how Magicbricks make money?

    About Magicbricks
    Business Model Of Magicbricks
    What Is So Unique About Magicbricks?
    How Does Magicbricks Make Money?

    How to make money from real estate | Business Models

    About Magicbricks

    Magicbricks is an online forum for both estate buyers as well as sellers. The corporation is a division of Times Internet Limited. It’s a fully-owned assistant of Bennett, Coleman & Co. Ltd. It also gives all kinds of sources and information about all property-related matters.

    Keeping this aside, there is a report column called “Property Pulse” which comprises estate news, household loan concerns, legal and taxation matters, and estimation of the properties.

    Areas of operation

    Magicbricks Provides its services in India and Globally
    Magicbricks Provides its services in India and Globally

    There are more than 200 estates vacant for sale in Mumbai. Located at the main sites of Mumbai with easy connectivity to close hotspots, these estates promote premium facilities and large interiors. With an incredible site, massive connectivity, and luxurious conveniences, these are decent places to discover residential estate, mainly in Mumbai. It provides its services in 60+ cities in India.

    Key Products and Services

    Magicbricks.com is a high-end estate portal that caters to an international market with unique and special services and novel online details. Since its launch in 2006, Magicbricks has quickly climbed to be the No. 1 Estate Portal in India. The Magicbricks design is based on strict exploration, distinct product developments, and creativity which the users have ratified. In a trial to serve the users, captions on the Magicbricks portal are often developed, analyzed, and promoted.

    Apart from buying, selling, and hiring properties in India, users have entry to the services.  The announcement column of Magicbricks “Property Pulse” comprises estate news, home loans interests, legal & taxation matters, authority viewpoint, and proper analysis of estate trends. The Buyer’s Guide is a real estate eBook that covers all the essential steps and stages entailed in property buying and contains answers, quick tips, and expert advice on what to look for and how to manage property buying.

    Target Audiences of Magicbricks

    Magicbricks.com is compatible with internationally praised estate fairs. It’s here that the top-notch estates of major Indian metros are showcased for audiences in India and abroad. Magicbricks.com has successfully hosted 75 households and over 15 multinational property shows around the world.

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    Business Model Of Magicbricks

    Ever wonder how companies work? What exactly goes on behind the scenes? How does it make money? Every business obeys a particular technique of working. And that technique is its business model. First, defining here the business model of Magicbricks. Real estate Firms like Magicbricks, 99acre and others have also got a similar business prototype:

    • Their source of income involves rates for documenting a specific estate. This means it is better than free documenting.
    • Magicbricks implicates the person promoting a quantity for a premium, documenting the publicity for particular products.
    • There are many properties at Magicbricks. So for them, they promote the properties with various shades.
    • The real estate business company gives perfect locality data with real locality pictures.

    Advertisements are a very familiar word. Everyone has come through it once, twice, thrice, or even more. It receives money from the pennants as well. Of course, it’s an online portal so, from those searches too, it collects money. It gives suffering of a lot of facilities to their users. Most importantly, it also delivers a feature. It is a luxury online website. Personalized services such as Vaastu, Astrology are yet included within it. Thus, people don’t have to ruin money on these aspects. And in this way the company makes money.

    What Is So Unique About Magicbricks?

    Magicbricks gives you a culture that is all about creation and winning. It challenges you and brings the absolute best out of you. The dynamism here is such that it draws the next level in you, releasing your actual ability and proficiency vastly better than you have ever thought. This will finally turn you into a high-performer who is full of impressions, outcomes, and unmatchable willingness.

    The business has plucked many buyer’s eyeballs towards it. The Real property online portal, MagicBricks has recorded 74% advancement in the second quarter. And the first quarter saw a 48% advancement. But the second one is massive, as mentioned above.

    The portable app is better. It’s more than 10 million downloads. It has earned itself the only one of its type to attain the landmark. The firm is experiencing massive improvement day by day. This was much expected as in the last three years, and there was a deceleration in the development process.

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    How Does Magicbricks Make Money?

    Magickbricks’ revenue comes from various sources:

    • MagicBricks is a real-estate portal that makes its money primarily from Producers, who spend a lot to expand their new operations. Another income stream is selling leads to dealers. And ads are just a minor portion of it. Magicbricks and other related portals have better than one income source. First, the Subscription-based model, every dealer on the forum spends some amount upfront to list out properties on the portal. Also, If the dealer is prepared to pay a slight premium, his properties are given appreciation over other properties as a result.
    • Secondly, Space selling or Media Deals, Traffic on the site is also leveraged by the firm. Banner space is sold to big players who want to promote their brand to the audience who explore the website. For massive construction programs, they also do earn promotion fees. So, they promote your estate for payment and then receive potential leads from buyers.
    • Property listings website Magicbricks has extended thirty crores from its parent company, Times Internet Ltd. The firm will utilize this budget for brand-building enterprises. Product advancement and seller improvement activities will take place soon. The firm says that it notices itself playing a much more significant role as a consumer. With this capital, more effort will be put into the forum. They are also striving towards having nearly 85% of all the available properties to be documented on their site.

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    Conclusion

    The objective of this business is to give rise to a better and clear place for its laborers with a primary modification. The laborers invade the maximum areas. And the Senior Executives usually receive glass compartments. But these things are gonna shift very shortly.

    Now productivity would no longer be an obligatory matter. The corporation will be promoting art and creativeness a lot. Their work techniques and the workplace’s flexibility will be the fundamentals of advancement. Further specialized items will be set into the app as well as the site.

    FAQs

    Is MagicBricks Indian company?

    Magicbricks is India’s leading real estate portals for property buying, renting, and selling.

    Which is the best real estate portal in India?

    Some of the best real estate portal in India are:

    • MagicBricks
    • 99Acres
    • Housing
    • Common Floor
    • OLX Homes
    • Sulekha Properties
    • Makaan
    • Quickr Homes
    • Homes247.in

    What are the business structure for real estate?

    There are 4 main types of business structures for real estate:

    • Sole proprietorship
    • Partnership
    • Corporation
    • Limited Liability Company, or LLC.

    Who are the top competitors of MagicBricks?

    Some of the top Competitors of MagivBricks are:

    • 99acres
    • Makaan.com
    • Housing.com
    • Commonfloor.com
    • Homes247.in

    Who is the founder of MagicBricks?

    Sudhir Pai is the founder of MagicBricks.

    What is MagicBricks’ revenue?

    Magicbricks Realty Services Limited’s operating revenues range from INR 100 cr to 500 cr in a financial year.

  • China’s Evergrande Crisis: Real Estate Sector Sinking in Debt

    A crisis is any event or period that will lead, or may lead, to an unstable and dangerous situation affecting an individual, group, or all of society. Crises are negative changes in human or environmental affairs, especially when they occur abruptly, with little or no warning. – Wikipedia

    Ever since the inception of human life on the planet earth, or even before that time, We have faced Crisis. So much so that it is a part of life and we don’t deface the fact anymore. Crisis has taught us that we lack something, and we need to work more on the present systems to make things more liveable. Making us more decisive, it cures indecision. This is a kind of help in our constant journey of making things better. However, We humans are the dominant species in nature.

    Why, you may ask ? Because we have hacked evolution !

    Ours is the only species that has decided to actually become better or more efficient without waiting for the process of evolution to take place (that is always slow). So, we are the only animal who has hacked evolution. That makes us the most fast-paced living species than anyone. Does that mean we don’t have a crisis anymore? No, we get crises every now and then to showcase us that some things are just so fickle. A house of cards.

    We all are terrestrial mammals, we live on earth, land. Build houses and earn a living. Housing or real estate is a super demanded domain in this world. As population boosts we will want more and more houses, dwellings to accommodate people. Amongst the constantly rising demands for land, it is very imperative for all of us to make sure that land is distributed justifiably. To provide for the need that is round-the-clock. Not to mention, being such a big sector, Housing sector or real estate sector is not oblivious to shockwaves, you know CRISIS. Whenever a wave hits this epicentre, human lives move. It moves to that extent of magnitude which we cannot even measure on a Richter scale.

    China is the world’s most populous country on the globe. Most humans live there. Housing sector is as big as it gets. It has seen its share of crises in this magnanimous sector. A really big economy. It has seen his share of strides and waves of uncertainties on his pupils. Lets see an example for clarity.

    The Real Estate Bubble (2005-2011) in China
    EverGrande Crisis in China
    The Lehman Brothers Financial Crisis
    EverGrande’s Cash Crunch
    Decline in Contract Sales
    Evergrande Crisis Consequences
    Evergrande Crisis Effect on India
    FAQs

    China’s Evergrande Crisis

    The Real Estate Bubble (2005-2011) in China

    Real estate in China is developed and managed by public, private, and state-owned red chip enterprises. In the years leading up to the 2008 financial crisis, the real estate sector in China was growing so rapidly that the government implemented a series of policies—including raising the required down payment for some property purchases, and five 2007 interest rate increases- due to concerns of overheating. But after the crisis hit, these policies were quickly eliminated, and in some cases tightened.

    The Chinese property bubble (2005-2011) was a real estate bubble in residential and/or commercial real estate in China. The phenomenon has seen average housing prices in the country triple from 2005 to 2009. It deflated in 2013.

    Massive doesn’t even begin to describe the situation with China’s property market, but that’s somewhat expected with a population of 1.4 billion people.

    And as the chart below shows, the bubble keeps on getting bigger!

    China Real Estate Bubble
    China Real Estate Bubble

    Well we know that this thing is of the past. This was a crisis and China hopefully learned some things from it. That’s why storms come, to make us more stable. This article is not about the past but for the future. This point in time, we are gonna see another crisis. Maybe more tense than the past. Maybe a more lethal Than past. So, what is it this time ?

    EverGrande Crisis in China

    China’s second biggest real estate mogul EverGrande is facing a crisis. To be more precise the company is going through financial difficulties. It is having liquidity issues to pay back its lenders. To give you some context, China’s real estate market has been booming in the recent past and to capture the trend and grow, Evergrande had taken up so much debt that they are struggling to pay it off now. The magnitude of this upcoming crisis is such that, if it collapses, people will lose homes. Not only China’s economy but the global economy as a whole could be affected. Lets see what is the scene here,

    The Evergrande Group or the Evergrande Real Estate Group (previously Hengda Group) is the second largest property developer in China by sales, having developed projects in over 170 cities in China. It is ranked 122nd on the Fortune Global 500. It was founded in 1996 by Xu Jiayin. It sells apartments mostly to upper and middle-income dwellers. In 2018, it became the most valuable real estate company in the world. Evergrande Group owns 565 million square metres of development land and real estate projects in 22 cities, including Guangzhou. The company and Alibaba own 50 percent each in Guangzhou Football Club and Evergrande football school is the biggest football school in the world. In the year 2009, the company filed for an IPO, An Initial Public Offering to get public

    As of September 2021, the company is at risk of defaulting on its debt. An estimated 1,500,000 customers could lose deposits on Evergrande homes that have yet to be built.

    “I think ultimately the Chinese authorities will step in to make sure at least the wider financial system doesn’t run into a crisis,”. “If you’re a property developer you’re facing a few bleak months ahead. The key distinction I think is policymakers will allow property developers to suffer considerable pain, but they’ll step in to make sure the banking system is okay.” – Mark Williams, chief Asia economist at Capital Economics.

    Kotak tweeted, the threat over China’s second-largest real estate developer reminded him of Infrastructure Leasing & Financial Services (IL&FS). Last year in September, the infra leasing and financial services company wasn’t able to pay its debt due to shortage of funds. The financial services market felt the tremors, and led to a liquidity crisis. However, the government came to its rescue and hand-picked nominees to replace the board in October. It had extended Kotak’s term as non-executive chairman of the debt-ridden group by one year.

    Lauding the government’s swift decision-making, the 62-year-old veteran banker said the Indian leaders provided calm to financial markets. “The government-appointed board estimates 61% recovery at IL&FS. Evergrande bonds in China trading, approximately 25 cents to a dollar,” he wrote.

    The Lehman Brothers Financial Crisis

    Lehman Brothers Holdings Inc. was a global financial services firm founded in 1847. Before filing for bankruptcy in 2008, Lehman was the fourth-largest investment bank in the United States (behind Goldman Sachs, Morgan Stanley, and Merrill), with about 25,000 employees worldwide. It was doing business in investment banking, equity and fixed-income sales and trading (especially U.S. Treasury securities), research, investment management, private equity, and private banking. Lehman was operational for 158 years from its founding in 1850 until 2008.

    The bankruptcy of Lehman Brothers on September 15, 2008 was the climax of the subprime mortgage crisis. After the financial services firm was notified of a pending credit downgrade due to its heavy position in subprime mortgages, the Federal Reserve summoned several banks to negotiate financing for its reorganisation. These discussions failed, and Lehman filed a Chapter 11 petition that remains the largest bankruptcy filing in U.S. history, involving more than US$600 billion in assets.

    The bankruptcy triggered a 4.5% one-day drop in the Dow Jones Industrial Average, then the largest decline since the September 11, 2001 attacks. It singled out a limit to the government’s ability to manage the crisis and prompted a general financial panic. Money market mutual funds, a key source of credit, saw mass withdrawal demands to avoid losses, and the interbank lending market tightened, threatening banks with imminent failure. The government and the Federal Reserve system responded with several emergency measures to contain the panic.

    Radhika Gupta (MD and CEO of Edelweiss) said in a public notice that the real estate sector is highly regulated, given the large role it plays in the Chinese economy. In synopsis, the fund managers(at Edelweiss) do not think that the sector is facing systematic risk(Risk inherent to the entire market). The government is prioritising this issue and rapid regulations are expected. She also advised that investors with a long term horizon should stay patient as fund managers at Edelweiss see a transitory volatility.

    Tweeted as a part of a disclaimer, the Edelweiss Greater China Equity Offshore Fund was at its highest risk on the Riskometer.

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    EverGrande’s Cash Crunch

    Dear Shareholders, I am pleased to present the reports of China Evergrande Group (“Evergrande” or the “Company”) and its subsidiaries (the “Group”) for the year ended 31 December 2020. The Group’s turnover and gross profit for the year amounted to RMB507.2 billion and RMB122.6 billion respectively. Net profit was RMB31.4 billion. Core business profit was RMB30.13 billion. In order to repay the trust and support of shareholders, the Board recommended the payment of a final dividend of RMB0.152 per share for the year 2020, which will be distributed upon approval at the general meeting of the group. – Prof Hui Ka Yan (Chairman of the Board of the Group, Chairman of the real estate group)

    This is quoted from the annual report of 2020 of the company. It paid a dividend. The company was saying it out loud and clearly, that we are fine, Everything is fine, we are paying dividends, Take your profits share, shareholders. Well now we see the whole big picture, Loud and clear.

    Evergrande founder and Chairman Hui Ka Yan continued his precipitous drop in Bloomberg’s wealth ranking as the company’s shares fell to their lowest in a decade. His fortune now stands at $7.3 billion, down from a peak of $42 billion in 2017.

    Smothered by a $300 billion liabilities burden that has crushed its credit rating, share prices and reputation among a once-adoring public. Throughout last week, the concourse outside Evergrande’s mirrored offices in the southeastern city of Shenzhen was occupied by unpaid contractors, angry sales agents and investors scenes echoed across a country where prolonged protest is rarely tolerated.

    Now, as default appears all but inevitable, fears are abounding of a contagion within the Chinese property market — and far beyond.

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    Decline in Contract Sales

    The month of September is typically when real estate companies in China record higher contract sales of properties. However, the ongoing negative media reports concerning the Group have dampened the confidence of potential property purchasers in the Group. The Company expects a significant continuing decline in contract sales in September, thereby resulting in the continuous deterioration of cash collection by the Group which would in turn place tremendous pressure on the Group’s cash flow and liquidity.

    Here is a little excerpt of previous financial statement to back the downward trend in operations of the company.

    Balance Sheet Excerpt of last year.

    As disclosed in the Operating Statistics Announcements, the contract sales of properties of the Group in each of June, July and August 2021 amounted to RMB71.63 billion, RMB43.78 billion and RMB38.08 billion, respectively, which showed a decreasing trend.

    Announcements and Notices by Evergrande (14 September,2021)
    The Real estate giant also mentioned in a recent public open notice that –

    • No material progress on sales of interests in members of the Group
    • The disposal of the Company’s office building in Hong Kong has not been completed within the expected timetable

    The Problems:

    • The company has $300 Billion debt to bondholders
    • Property sales declining for months and will continue
    • Company owes $103 billion to construction companies and other business creditors
    • Banks are not ready to refinance
    • Company wants to repay debt in the form of property and parking spaces
    • China’s Government has imposed limits on the amount of real estate borrowings, which caused bondholders to withdraw their money
    • EverGrande now needs to pay interest of $83.5 Million on bonds now, with a grace period of 30 days

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    Evergrande Crisis Consequences

    • China stock markets and Global markets, mainly in the US is reacting negatively to the news.
    • Stock markets globally sank on Monday as investors weighed the risk of a spillover from Evergrande’s debt. Bitcoin dropped 5.4 percent this week to $45,025
    • China’s property market is majorly affected and we see the 2008 financial crisis all over again.
    • Evergrande bondholders might sell their other investments too to keep their money as cash at the moment. This might cause market correction
    • In an effort to flatten the crisis curve, China’s central bank boosted its gross injection of short-term cash into the financial system after concern over a debt crisis at China Evergrande Group roiled global markets. The People’s Bank of China pumped 120 billion yuan ($18.6 billion) into the banking system through reverse repurchase agreements, resulting in a net injection of 90 billion yuan.
    Injecting funds to flatten curve.
    • China bails out the company indirectly by asking borrowers(state owned banks mainly) to take the property and parking spaces and waive off the debt.

    Evergrande Crisis Effect on India

    • Sensex and Nifty are at great heights and thus are more volatile to corrections.
    • Short term corrections may happen
    • Over a medium term, India can benefit from the situation because the Chinese crisis cause increased money flow into the Indian markets
    • This crisis can put the rupee under pressure. If Evergrande is allowed to default, the market could see a massive sell-off with significant contagion risks for global financial markets – HDFC bank economist’s report.
    • If one single company that owes $304 billion can develop financial exposure to hundreds of lenders, millions of investors in bonds and stocks, and hundreds of thousands of homebuyers, Then we cannot be sure of big corporations anymore in china.
    • Indian steel still sees a strong spine as evergrande goes to a cash crunch.
    Improvement In indian steel sector
    • Shailendra Kumar, Chief Investment Officer at Narnolia Financial Advisors feels till now Evergrande issue looks localised and Chinese policymakers should be able to handle it using steps like restructuring. He believes the Indian economy and Indian equity market is set for exciting times ahead. “While the global trend of digitalization is a megatrend favouring the Indian economy, domestically, formalization is another megatrend adding further positivity to Indian equities,” he said.

    So, what shall happen tomorrow, for sure we can’t predict it to a nice accuracy, But we can surely see that what we are facing is risk, Uncertainty or maybe the silence before a storm. Let’s call it a crisis.

    FAQs

    What is Evergrande crisis?

    Evergrande is an enormous company embedded across China’s financial system and economy, that relies mainly on real estate.

    What does Evergrande do?

    Evergrande Group is an investment holding company in China. It is involved in real estate business. Evergrande group does development, investment, and management of real estate properties.

    Who is the founder of Evergrande Group?

    Xu Jiayin (Hui Ka Yan) has founded Evergrande Group, headquartered at Shenzhen, Guangdong, in 1996.