It is the most intuitive way to make the owner meet the right tenant for giving their property on rent.

With Smart rent the owner and tenant enter into a digital agreement, collect/pay rent automatically and get awarded for paying rent on time.

An owner is the one who owns a property and wishes to let-out that property on rent. Every owner wish their tenant is be obedient in paying the rent and maintaing their property.

Our Smart rent will help you find the right tenant, automate your rental collection and let you enter into a digital agreement where the rental terms and conditions are agreed and compliance to these terms and conditions can be tracked.

A tenant is the one who wants to take a property on rent in lieu on monthly rental payment. Every tenant wish that the property owner be transparent.

With Smart rent you will be able to pay your rent on time, enter into a digital agreement where the rental terms and conditions are agreed and compliance to these terms and conditions can be tracked.

You will get instant proof for all your rental payments/agreement and also get rewarded for timely payment of rent.

A rental agreement is the document which determines the major terms and conditions between the owner and the tenant. This agreement is the point of reference if there is any dispute between the owner and tenant.

You can enter into a rental agreement through us where we shall provide you with the most important terms and conditions to be entered upon by the owner and the tenant. The agreement shall be authenticated through Aadhaar e-signature and stamp duty shall be paid digitally.

It is not mandatory to enter into a rental agreement through us or outside us. But we recommend to enter into an agreement as the same shall play a very important role during a dispute resolution.

Also there are various situations where the rental agreement becomes important in terms of proof submission for claiming tax benefits.

We are soon coming up with our marketplace for businesses to sell or rent their goods and services and enable doing global business easily.

As an owner you can always list your property on our marketplace, mytra.market (coming soon) by registering yourself as a business user. This shall help you reach to a wider audience to let them know about your property.

Rental payments can be of two types, one time payment/recurring payment.

In one time payment the tenant pays the rent each time manually and is best suitable for owners who give the property on rent for short period (like hotel owners, car owners, etc.).

In recurring payment the tenant pays the rent on a recurring basis that can be monthly/quarterly/fortnightly and is best suitable for owners who give the property on rent for a longer period (like flat owners, shop owners, etc.)

In case of one time payment, the rent is paid through UPI/Netbanking/Credit Card/mytra money/any other payment method available to the tenant.

In case of recurring payment, the tenant has to give a one time e-NACH madate to allow us to collect the rent amount from your bank account just like how you pay for your EMIs or monthly investments.

Post successful collection of amount the same shall be settled within T+1 day in the account of the owner (as an individual user) or as per the instructions set by the owner (as a business user).

For owner:

An owner has to declare the rental income in their income tax returns under the income from house property (for rental income from house property) and income from other sources (for other rental incomes like car, bike, machinery, etc). Also if the total rental income is more than INR 20 lakhs in a year then that individual shall be liable for the compliances of GST as well.

By using our Smart tax solutions you can automatically get your income mapped to the tax returns, claim the necessary exemptions and file your taxes like a pro. If you are getting a yearly rental income of more than INR 20 lakhs, we recommend you to register yourself as a business user to file your GST returns.

For Tenant:

A tenant can claim the rent paid for take a house property as an exemption on the taxable income in the form of House Rent allowance (HRA) by submitting the necessary proofs to your employer. Also a tenant is liable to deduct a TDS u/s 194-IB if the monthly rental amount is above INR 50,000.00 and the rate at which the TDS needs to be deducted is 5%. There are various other conditions as well and we recommend you to consult a professional or raise a support ticket to know more about TDS on rent.

Using Smart rent and Smart tax solutions shall help you comply with the necessary regulatory compliances.