RealtyKart is a property management firm that works as broker to flat owners and deals with tenant search and also handles rent/maintenance directly with the tenants.
The initial brokers who had helped us finalize a flat for rent were very cooperative, understanding and helpful. And the first term of 11 months went very smoothly. You are expected to pay up the rent by 5th of each month, else risk a fine of 200 per day. They would send a reminder mail on 2nd of the month and on paying the rent you get the receipt within 1-2 working days.
The trouble for us started from the second term. And following are our pathetic experiences in chronological order -
1) Increased Rent more than 10% from 2nd term, which is against the initial agreement and also the Karnataka Rental Laws. From 20.k/month to 23k/month.
Left the flat owing to multiple reasons, one of them being the steep increase in rent.
2 days after handing over keys:
2) Blocked the cheque they provided me for part refund of initial deposit without having the basic courtesy to inform me that they are blocking it. Caused huge embarrassment and agony in bank.
3.5 weeks after handing over keys:
3) Deducted 30k+ during termination, when a month’s rent was 20.5k and later increased to 23k.
5 weeks after handing over keys:
4) Never learn. After making the whole mess with the cheque blocking for 80%, they sat comfortably for a week without transferring the remainder. Acted only upon my follow-up.
My personal view from my whole experience is they have a one-time, one-term client policy. They make profit mostly from the brokerage they charge on finding a tenant, so theoretically you can maximize your profits by switching max. number of tenants between their lease term(3 years) with flat owners.
Loss of money and too arrogant and repentless attitude from their representatives had us completely fuming and would never recommend any tenant to use their services. It makes more sense to have an independent understanding flat owner.