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<ul><li>The property must be owned by the parent or relative to whom the rent is being paid.</li><li>The relative who is getting the rent should disclose it in his income tax file.</li><li>The municipal taxes on the property should be up to date, and a deduction can be claimed on the taxes paid.</li></ul>If you are employed, and receive a house rent allowance (<keyword id="115182" type="General" weightage="20" keywordseo="hra" source="Orion">HRA</keyword>) as part of your salary, you have the option to <a href="https://www.businessinsider.in/personal-finance/news/how-hra-exemption-can-help-you-save-tax-in-2023-24/articleshow/100014412.cms">claim a tax exemption on the HRA,</a> if you live in a rented house. However, it's important to note that this tax exemption is applicable only if you opt for the old tax regime. Even if you are living with your parents, or with a relative, and paying rent to them, you can claim HRA deduction. Here are five things to keep in mind in case you are paying <keyword id="15318001" type="General" weightage="20" keywordseo="rent-to-parents" source="Orion">rent to parents</keyword> or to a relative. Fair market value The rent has to be similar to the fair market value. “It cannot be very high or very low. One has to see that the rent that is being paid to the relative/parent is in consonance with the rent paid to an independent party to another independent party,” says Vivek Jalan, partner, Tax Connect Advisory. The property ownership detail The property must be owned by the parent, or relative to whom the rent is being paid. In case when the rent is paid to parents, the property must be owned by your parents. “It may be owned by one or both of your parents. So, you can deposit the money to any one of the parents in case of joint house ownership, or to the parent who is the legal owner of the house,” says Archit Gupta, founder and CEO, Clear, a fintech company. <keyword id="6580929" type="General" weightage="20" keywordseo="rent-agreement" source="Orion">Rent agreement</keyword> and receipts There has to be a rent agreement between you, and your parents/relative, and you need monthly rent receipts. The rent can be paid either through a transfer to a bank account, or through a cheque. One should also keep proof of payments made. The recipient has to disclose income The relative who is getting the rent should disclose it in his income tax file for taxation purposes. “The Income Tax department can check through data analytics whether the rental income has been declared,” says Jalan. The income should also be declared under ‘Income from house property’. “If it is declared as ‘Income from other sources,’ a red flag will be raised, and also the deduction on taxes paid will not be available,” says Jalan. Further, the municipal taxes should be up to date, and a deduction can be claimed on the taxes paid,” says Jalan. The person who receives rent is entitled to claim a deduction of 30% on the rental income for repair or renovation purposes. Disclose to employer Employees should disclose the rent paying arrangement to the employers as soon as possible, and not wait for the employer to ask for details. If they do not do that, TDS will be deducted, and they will have to claim a refund later.

Claiming tax exemption showing rent paid to relatives? Five things to keep in mind

<ul class="summary-list"><li>The rent-price surge seen through 2021 likely peaked in the fourth quarter, <keyword id="6361649" type="UNKNOWN" weightage="60" keywordseo="goldman-sachs" source="Orion">Goldman Sachs</keyword> said Tuesday.</li><li><keyword id="13090228" type="UNKNOWN" weightage="60" keywordseo="shelter-inflation" source="Orion">Shelter inflation</keyword> gauges suggest price growth will start to slow faster by mid-2022, the bank added.</li></ul>Renters have been on a rollercoaster ride throughout the pandemic. That choppiness is cooling down soon, according to Goldman Sachs.City rents have been on a tear. Prices were up 11.5% year-over-year in November, according to CoreLogic's <a href="https://www.corelogic.com/press-releases/single-family-rent-prices-continue-rapid-upward-sprint-in-november-corelogic-reports/">Single-Family Rent Index</a>, much higher than the 3.8% annual growth rate in November 2020 and marking the fastest inflation in at least 16 years. Popular pandemic moving destinations like Austin, Las Vegas, and Miami <a href="https://www.businessinsider.com/rents-increasing-new-york-phoenix-greenwich-single-family-homes-2021-7">led the charge in 2021</a>, and rents in major metro areas like New York City and San Francisco more recently roared back as people prepared to return to offices.The surge raised concerns that the affordability crisis in the <keyword id="11957054" type="UNKNOWN" weightage="60" keywordseo="housing-market" source="Orion">housing market</keyword> could bleed into rentals. Yet early signs suggest the US is past peak <keyword id="13032389" type="UNKNOWN" weightage="60" keywordseo="rent-inflation" source="Orion">rent inflation</keyword>, and apartment prices should start to stabilize this year, Goldman analysts led by Jan Hatzius said in a Tuesday note.Shelter inflation accelerated to an annualized rate of 5.1% in the fourth quarter, according to the Census Bureau. Trends in other inflation measures, however, show <keyword id="13032391" type="UNKNOWN" weightage="60" keywordseo="rent-growth" source="Orion">rent growth</keyword> starting to ease through the end of last year. The Consumer Price Index's <keyword id="11948118" type="UNKNOWN" weightage="60" keywordseo="rent" source="Orion">rent</keyword> and owners-equivalent rent measures both decelerated in December. The gauges track prices of new and continuing leases, and it takes longer for the latter to follow price increases in the former. By modeling when the new leases saw the biggest price hikes, the economists estimate that the rent-price surge was the strongest in the fourth quarter and will fade moving forward.<div type="image" title="GOLDMAN" height="519" width="1038" msid="89307039" hostid="261"></div>The cooldown won't be quick. Shelter inflation will linger at a year-over-year pace of about 5% through the third quarter before dropping to 4.8% at the end of 2022, Goldman said. Price growth will continue to ease to 4.5% at the end of 2023 and to 4.2% at the end of the following year, the team added.The forecast offers new hope that the country's broader inflation problem will also improve. Rent growth is a "sticky" form of inflation, meaning prices are not likely to decline after soaring higher.Persistently strong rent inflation is potentially a bigger problem for the <keyword id="11893570" type="UNKNOWN" weightage="100" keywordseo="economy" source="Orion">economy</keyword> than more temporary price increases for things like gasoline or food, as it could spark a new inflation crisis and the need for large-scale intervention. Goldman's outlook, then, assuages some concerns that the rent boom of 2021 would keep inflation stuck <a href="https://www.businessinsider.com/inflation-december-cpi-price-growth-index-supply-chain-economic-recovery-2022-1">at its four-decade highs</a>.Still, risks exist on both sides of the bank's forecast. Rent inflation could accelerate again in 2022 if less of the bump from new-lease rents has made its way to renewals than expected, the team said. That would prolong the cycle and likely drive shelter inflation higher.Conversely, rent growth could drop even faster if most of the new-lease boost has already hit renewal inflation, the team said. Weaker underlying shelter-inflation trends could also drag on rent growth, they added.For now, rent is still growing at its fastest rate since the financial crisis, according to BLS data. Even the weaker inflation rates forecasted by Goldman sit above the pre-pandemic trend, but after a year of skyrocketing shelter prices, the bank's projected peak offers some respite for those struggling to keep up.

Goldman Sachs says rent increases should slow down this year

<ul class="summary-list"><li>Median one-bedroom rents in Boston boomed 5% in January to $2,720, according to a new <keyword id="13032390" type="UNKNOWN" weightage="60" keywordseo="zumper" source="Orion">Zumper</keyword> report.</li><li>Boston <keyword id="11948118" type="UNKNOWN" weightage="60" keywordseo="rent" source="Orion">rent</keyword> is now just $130 below San Francisco's, and recent months suggest the gap will close soon.</li></ul>New York still reigns supreme as the priciest city in the US for renters. The race for second place, however, is practically a toss-up.Median one-bedroom rents in Boston rose to $2,720 in January, according to a Tuesday <a href="https://www.zumper.com/blog/rental-price-data/">report</a> from rental platform Zumper. That's within spitting distance of San Francisco's median rent of $2,850. New York continued to stand well above the rest of the US, with rent climbing 2.2% to $3,260.It's possible Boston overtakes San Francisco in just a few months. Rents in Boston rose 5% in January, nearly quintupling San Francisco's 1.4% gain. Boston rents are also up 26.5% year-over-year, outpacing the vast majority of other cities and handily surpassing its California peer's 6.3% growth.<div type="image" title="Zumper" height="520" width="1041" msid="89124609" hostid="261"></div>The rental-market shakeup underscores <a href="https://www.businessinsider.com/wall-street-new-york-silicon-valley-tech-recovery-office-work-2021-8">just how differently each coast is recovering</a> from the pandemic and the shift to remote work.Residential and commercial rents in East Coast metropolitan areas rebounded in the summer, particularly in New York, as the country's financial sector ordered employees back to their offices.Workers quickly returned to city centers, office spaces were revived, and rents swung higher. While the Omicron variant has reversed some of that progress, it hasn't fueled the same emigration cities faced at the start of the pandemic.The recovery was much bumpier on the West Coast. The Big Tech firms that dominate the San Francisco Bay Area took a more relaxed return-to-work stance, allowing for many to continue telecommuting even as virus cases fell to encouraging lows. The "ambiguous" work situation in San Francisco and uncertainty around future office plans likely powered "a delayed leasing season" and a slower recovery for the city's <keyword id="11893295" type="UNKNOWN" weightage="60" keywordseo="real-estate" source="Orion">real estate</keyword> market, Equity Residential said in a July earnings call.The East Coast's faster return to offices over the summer seems to have solidified a solid lead for those cities' rent recoveries. Washington, DC overtook Los Angeles for the sixth-highest single-bedroom rent in January, while San Diego fell to the ninth spot.And in four of the last five months, Boston <keyword id="13032389" type="UNKNOWN" weightage="60" keywordseo="rent-inflation" source="Orion">rent inflation</keyword> has easily surpassed San Francisco's. The gap in median one-bed rents between the two cities is now just $130. For comparison, San Francisco rents were an average $1,300 higher than Boston's as recently as winter 2019.To be sure, the situation is fairly different with two-bedroom rentals. San Francisco sat in the top spot in January with its median price climbing to $3,930. New York rents fell nearly 3% to $3,400, and Boston prices sat even further below at $3,150, according to Zumper.But whether you're looking for a one-bed rental or sharing a place with a roommate, the market is generally much more expensive than it was just one year ago. Zumper's national index for median one-bedroom rents rose to a record-high $1,374 in January, up 12% year-over-year and 0.6% from December's level. The month-over-month gain also snapped a four-month streak of slightly easing price growth.Rent inflation, then, isn't fading as fast as apartment hunters might have hoped. While January's report represents just a single month of data, it signals the surge in prices seen throughout 2021 isn't easing in the new year.

Boston is about to overtake San Francisco as a more expensive city for renters

The 6 cities and states trying to stop landlords from jacking up rent prices

<ul><li>CRED launched two new products for its users – CRED <keyword id="4484421" type="PERSON" weightage="20" keywordseo="RentPay">RentPay</keyword> and CRED Stash, available to users who have a <keyword id="6380214" type="PERSON" weightage="20" keywordseo="credit-score">credit score</keyword> of 750 and above.</li><li>CRED RentPay allows users to pay their rent on credit.</li><li>CRED Stash allows users to avail an instant line of credit up to ₹5 lakh. </li></ul><keyword id="6368202" type="UNKNOWN" weightage="20" keywordseo="credit-card">Credit card</keyword> payment app CRED has introduced two new features – CRED RentPay and CRED Stash in India. CRED RentPay allows users to pay one of their highest recurring expense - monthly rent on credit. CRED Stash is an instant <keyword id="173215" type="PERSON" weightage="20" keywordseo="credit-line">credit line</keyword>. In addition to allowing users to pay their rent, CRED is reportedly also working on allowing users to make payments such to landlords such as maintenance charges and security charges using their credit cards. CRED RentPay The first product, CRED RentPay allows users to free up cash by paying rent on credit. Users can pay their household rent using their credit cards from the CRED app. By using this, users will be able to get an interest-free credit period on rent, earn reward points on their credit cards and earn CRED coins when they pay their credit card bill on the CRED app. To use the new CRED RentPay feature, users will have to add their landlord’s bank account or UPI details into the app. This will allow users to directly transfer the rent from their credit card to the landlord’s account. CRED will charge users a transaction fee of 1% - 1.5% depending on the user’s credit card network. This means that if you are using CRED RentPay to pay ₹20,000 rent, you will have to pay ₹200 - ₹300 to CRED. CRED Stash CRED Stash has been launched as a pilot with IDFC FIRST Bank and the company has claimed that it is the only offering of its kind in India. The company has added that it will scale up with other bank partners on completion of the pilot. CRED Stash is an online instant line of credit that will allow CRED users to quickly get credit without having to go through the application and verification process. CRED users will get a pre-approved credit line of up to ₹5 lakh and users will be able to withdraw any amount within their pre-approved limit. Users will be able to select the tenure for the loan. CRED claimed that the interest charged is a third of the interest rates charged on credit cards. The pre-approved limit will depend on the user’s credit score and credit card limit. See also: <a href="https://www.businessinsider.in/finance/news/how-to-avail-three-month-moratorium-for-sbi-emi-and-credit-cards/articleshow/74945199.cms">How to avail three-month moratorium for SBI EMI and credit cards</a> <a href="https://www.businessinsider.in/india/news/how-to-avail-three-month-moratorium-for-icici-bank-emi-and-credit-cards/articleshow/74941936.cms">How to avail three-month moratorium for ICICI Bank EMI and credit cards</a> <a href="https://www.businessinsider.in/india/news/mukesh-ambanis-reliance-industries-loses-30000-crore-in-the-first-few-minutes-of-trading/articleshow/75263790.cms">Mukesh Ambani’s RIL loses ₹30,000 crore in the first few minutes of trading</a>

Here is how you can pay your rent using your credit card

Are you caught up in the rent vs. buy a house debate? Fret not. We have come to your rescue. After analyzing the pros and cons of <keyword id="599142" type="UNKNOWN" weightage="20" keywordseo="Renting">renting</keyword> and <keyword id="24474" type="ORGANIZATION" weightage="20" keywordseo="buying">buying</keyword> a house, we have compiled some interesting pointers in a table below. These pointers will not only solve the conundrum for you, but will also help you make a smarter decision. 
 
 
 
If the above table still didn’t answer all your questions and you are still thinking of buying a home, you should ask yourself the following questions: 
<ol>
	<li>
		Do you plan to stay in your current city for a long term (more than 5 years)?</li>
	<li> Have you calculated what your <keyword id="6357050" type="COMPANY" weightage="20" keywordseo="EMI">EMI</keyword> could be if you were to purchase a house? Does this EMI fit your budget?</li>
	<li>
		What is your current ‘rent to capital’ ratio?</li>
	<li>
		What is the estimated annual increase in the value of the property you plan to buy?</li>
</ol>
If you have the answer to the last question, then the puzzle has been solved. 
 
About the author: Naveen Kukreja is Director, Paisabazaar.com 
Image: Thinkstock

The Puzzling Rent-or-buy Debate

Hello everyone! Welcome to this weekly roundup of Business Insider stories from executive editor Matt Turner. <a href="http://newsletter.businessinsider.com/join/4np/insider-weekly">Subscribe here to get this newsletter in your inbox every Sunday.</a>Read on for an inside look at <a href="https://www.businessinsider.com/rent-runway-ceo-jenn-hyman-profile-during-covid-crisis-2020-9">Rent the Runway CEO Jennifer Hyman's fight to save her company</a>, <a href="https://www.businessinsider.com/dan-sundheim-profile-d1-viking-billionaire-net-worth-bio-performance-2020-10">the LeBron James of investing</a>, <a href="https://www.businessinsider.com/google-health-strategy-identity-alphabet-flux-2020-9">and turf wars and trust issues at Google Health</a>. Hello!President Trump's announcement on Friday that he had tested positive for the coronavirus <a href="https://www.businessinsider.com/donald-trump-tax-returns-presidential-debate-biden-parscale-coronavirus-2020-10">capped a chaotic week</a> that started with the New York Times <a href="https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html">releasing a blockbuster report</a> detailing Trump's financial records and included a shouting match at the debate against Democratic presidential nominee Joe Biden. Here's the latest:<ul><li><a href="https://www.businessinsider.com/trump-releases-video-saying-hes-starting-to-feel-good-2020-10">Trump releases 4-minute video from Walter Reed saying he's 'starting to feel good,' but the coming days will be 'the real test'</a></li><li><a href="https://www.businessinsider.com/trump-covid-19-treatments-remdesivir-and-regeneron-antibody-drug-combo-2020-10">Trump's doctors are targeting a 'sweet spot' in fighting COVID-19 by using experimental treatments early, but physicians caution the data is limited</a></li><li><a href="https://www.insider.com/gop-officials-whove-tested-positive-for-covid-19-2020-10">At least 10 GOP officials have tested positive for coronavirus in the wake of President Trump's COVID-19 diagnosis</a> </li><li><a href="https://www.businessinsider.com/crucial-questions-trump-doctor-declined-to-answer-2020-10">7 crucial questions Trump's doctor has declined to answer — and what he said instead</a></li><li><a href="https://www.insider.com/">You can get all the latest news here.</a></li></ul>You can also join us on Monday to learn about the race for a coronavirus vaccine. Healthcare reporter Andrew Dunn will discuss the road ahead with three leading experts on October 5th at 2:00 p.m. ET. <a href="https://www.businessinsider.com/business-insider-webinar-on-the-race-for-a-coronavirus-vaccine-2020-9">Sign up here</a>. <h2>The fight to save <keyword id="1179621" type="PERSON" weightage="60" keywordseo="Rent-the-Runway">Rent the Runway</keyword></h2>From Becky Peterson:A few months ago, the best way to see the influence of Jenn Hyman's business was to visit any office mail room in Manhattan.The heaps of dark garment bags that piled up each morning contained designer clothing worn by female employees of every rank and level waiting to be shipped back to Hyman's startup, Rent the Runway.For the female office workers who dropped off the bags and awaited their next delivery, Rent the Runway was as essential to the job as a laptop. If you liked someone's outfit and asked them where they got it, the answer was usually Rent the Runway.Today, chances are those devoted customers are working from home, if they still have a job, and they are not decked out in $400 sheath dresses. The coronavirus has swept away the piles of dark bags along with Rent the Runway's revenue stream.Becky spent hours talking to Hyman and spoke to more than two dozen of her colleagues and former coworkers. Per her story:The picture that emerged was of a smart, visionary leader who's proved to be resolute in a crisis and who has not been afraid to speak out about her experience as a female CEO in a male-dominated industry. But that outspokenness has sometimes been received as that of a leader who can't handle criticism.You can read the full story here:<ul><li><a href="https://www.businessinsider.com/rent-runway-ceo-jenn-hyman-profile-during-covid-crisis-2020-9">Rent the Runway CEO Jennifer Hyman, one of the most successful female founders, is fighting to save her company</a></li></ul><h2>The LeBron James of investing</h2><div type="image" title="daniel sundheim d1 capital profile 2x1" height="1000" width="2000" msid="78479063" hostid="261"></div>From Bradley Saacks and Alex Morrell:Dan Sundheim has quickly become an investor to follow since launching his fund D1 Capital after working as the chief investment officer at Andreas Halvorsen's Viking Global.The Wharton grad has at least $1 billion in personal wealth between his assets in his firm, stake in the NBA's Charlotte Hornets, real-estate portfolio, and art collection, which includes a Jean-Michel Basquiat that he bought off the disgraced financier Jho Low.Despite his flashy purchases, those who have known Sundheim for decades say he's still the same guy he was when he was a 20-year-old frat brother at the University of Pennsylvania — a low-key, smart friend who never seems to get too worked up about anything.His investing prowess, though, has become the stuff of legends, with D1 returning more than 78% after fees in its public-equity portfolio since it launched about two years ago.You can read the full story here:<ul><li><a href="https://www.businessinsider.com/dan-sundheim-profile-d1-viking-billionaire-net-worth-bio-performance-2020-10">The rise of Dan Sundheim: How a Wharton whiz-kid became the LeBron James of investing, launched one of the hottest hedge funds on earth, and minted a billion-dollar fortune in the process</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/rising-stars-wall-street-investing-trading-dealmaking-2020-9">Meet 2020's Rising Stars of Wall Street from firms like Goldman Sachs, Blackstone, and Bridgewater shaking up investing, trading, and dealmaking</a></li></ul><h2>Turf wars and trust issues at Google Health</h2><div type="image" title="google heatlh david feinberg 2x1" height="1200" width="2400" msid="78479065" hostid="261"></div>From Blake Dodge and Hugh Langley:Nearly two years since Google Health came together, it's still unclear how the group fits into the company's bigger vision for healthcare or how it'll make money, Business Insider has learned through conversations with former and current Alphabet employees, a review of internal documents, and conversations with healthcare-industry experts.Google Health's <a href="https://www.businessinsider.com/googles-healthcare-strategy-amid-the-coronavirus-pandemic-2020-8">work with search and clinical tools is promising</a>, but it's early and the group leans heavily on other parts of Google for partnerships. Much of the past 20 months has been spent ironing out its goals and how it fits in with other health-focused parts of the business, such as Google Cloud and Verily.While Google Health has <a href="https://health.google/partners/">struck up deals to work</a> with large health systems such as Ascension and Stanford Medicine over the past two years, talks with some other major players including CVS Health and The Gates Foundation have fallen apart along the way, Business Insider has learned. Experts within the healthcare industry are still confused over what Google Health actually does.You can read the full story here:<ul><li><a href="https://www.businessinsider.com/google-health-strategy-identity-alphabet-flux-2020-9">Google's secretive healthcare business wants to organize the world's health information, but insiders describe how turf wars and trust issues are hamstringing the operation</a></li></ul>Also read:<ul><li><a href="https://www.businessinsider.com/30-leaders-under-40-changing-healthcare-2020-9">Meet the 30 young leaders who are forging a new future for healthcare in the pandemic's shadow</a></li></ul><h2>ICYMI: Former Trump campaign manager Brad Parscale told friends he was under federal investigation</h2><div type="image" title="Brad Parscale out" height="1839" width="2733" msid="78479067" hostid="261"></div>From Tom LoBianco:Days before the former Trump campaign manager Brad Parscale was detained by the Florida police over concerns he might hurt himself, he had told campaign staff members and friends that he was under federal investigation.You can read the full story here:<ul><li><a href="https://www.businessinsider.com/brad-parscale-told-friends-under-federal-investigation-before-meltdown-2020-10">Former Trump campaign manager Brad Parscale told friends he was under federal investigation just days before meltdown</a></li></ul>Here are some headlines from the past week you might have missed. — Matt<a href="https://www.businessinsider.com/david-simon-property-group-profile-retail-real-estate-malls-jcpenney-2020-9">Real-estate titan David Simon is reshaping America's malls. Insiders reveal how he's facing a make-or-break moment with a $2 billion bet on troubled JCPenney.</a><a href="https://www.businessinsider.com/kpmg-layoffs-1400-employees-professional-services-struggle-job-cuts-2020-9">KPMG just axed 1,400 US jobs across tax, audit, and advisory businesses and is also cutting some workers' pay</a><a href="https://www.businessinsider.com/biden-transition-team-agencies-ted-kaufman-trump-legacy-obama-2020-9">Meet the 38 people on Biden's transition team preparing to demolish Trump's legacy next January</a><a href="https://www.businessinsider.com/sisu-cosmetic-surgery-startup-raises-55-million-for-us-expansion-2020-9">Here's the pitch deck that persuaded Goop backer Greycroft to fund beauty clinic startup Sisu for its US expansion</a><a href="https://www.businessinsider.com/how-much-stripe-employees-make-salaries-job-listings-2020-9">Stripe salaries revealed: From $74,984 to $300,000.00 a year, here's how much the $36 billion unicorn pays its employees</a><a href="https://www.businessinsider.com/top-spac-underwriters-law-firms-investors-blank-check-volume-fees-2020-9">Meet 16 bankers, lawyers, and capital providers helping engineer a $40 billion blank-check craze that's fast-tracking companies to public markets</a><a href="https://www.businessinsider.com/wealthy-americans-buying-passports-to-bypass-covid-travel-restrictions-2020-9">Meet the man who hooks up ultrawealthy Americans with the 2nd passports they need to leave the country. An island in the Caribbean is his most in-demand location.</a><a href="https://www.businessinsider.com/clubhouse-anti-semitism-chat-on-yom-kippur-2020-9">People were offended when Clubhouse hosted an anti-Semitic discussion on the holiest day of the year for Jews</a>

Inside the fight to save Rent the Runway

<ul><li>OYO Home and Hotels is partnering with Drivezy, an Indian vehicle sharing start up.</li><li>Travellers will now be able to pick up bikes and cars directly from <keyword id="4964826" type="PERSON" weightage="20" keywordseo="OYO-hotels">OYO hotels</keyword>.</li><li>Drivezy plans to station 100,000 bikes and cars at OYO outlets.</li></ul> OYO Home and Hotels is partnering with Drivezy to station 100,000 bikes and cars at their hotels in the next three years. The partnership will kick off with 1,200 bikes OYO outlets in Bangalore and Hyderabad. Travellers can book bikes either by the hour, or on a daily basis. Drivezy, an Indian start up, was founded back in 2015. It offers cars, motorbikes and scooters on rent across 11 cities in India across 100 locations. Currently, it manages 4,000 cars and 14,000 bikes. The company claims to be the fastest growing vehicle sharing platform, and the largest two-wheeler sharing service in the country. Drivezy has plans to grow even further. The company signed an agreed with Harbourfront Capital for $100 million to bring more assets on-board. So far this year, it added 12,000 vehicles to its fleet. Leave it where you want Drivezy is currently working on a feature that will allow travellers to pick up and leave their vehicles anywhere they want — as long as they're within the city limits. This 'free floating' model comes with a significant catch. Drivezy needs to find a way to ensure its vehicles aren't vandalised or damaged, after being dropped off. "To counter this, we are establishing a dense network of parking spaces in all operational cities and our association with OYO is a step in that direction," said Ashwarya Singh, CEO of Drivezy. Drivezy's also using technology like keyless IoT locks and unlocking using QR codes to safeguard their vehicles.

OYO will now have bikes and cars for rent at their hotels

<ul class="summary-list"><li>Average rent in the US has climbed to $1,722. </li><li>That's more than 30% of the national median income when you account for taxes.</li></ul>Homebuying demand is on the <a href="https://www.businessinsider.com/signs-housing-market-prices-demand-slowing-down-buyer-seller-behavior-2022-6">decline,</a> and it could be one reason the US rental market is white-hot.As rental competition <a href="https://www.wsj.com/articles/bidding-wars-overheated-the-home-buyer-market-now-theyre-coming-for-renters-11656322200">grows</a>, prices are rising <a href="https://www.realestatewitch.com/rent-to-income-ratio-2022/">faster</a> than incomes — and that means more American households are <a href="https://cre.moodysanalytics.com/insights/cre-news/what-the-housing-affordability-crisis-looks-like-across-the-united-states/">struggling</a> to afford rent. The median apartment rent in the US rose 2.5% in the first quarter of 2022 and is expected to climb by at least 2% in the second quarter of the year, financial services company Moody Analytics said in its June housing report. Although the pace of growth has slowed month over month, <keyword id="12473967" type="UNKNOWN" weightage="60" keywordseo="rents" source="Orion">rents</keyword> are still trending well above long-run averages."The labor market has been strong, but not strong enough to warrant continued large increases in rent, especially given a decline in real earnings due to inflation," Tom LaSalvia, a senior economist at <keyword id="11994713" type="UNKNOWN" weightage="60" keywordseo="moodys-analytics" source="Orion">Moody's Analytics</keyword>, said in a statement.Data from Moody's shows that since late 2019, the number of American metros considered rent burdened has increased from 8 to 23. Outside of inflationary pressure, Moody's researchers attribute the increase to a decline in household income."As rents rose, median household income dropped in the majority of these rent-burdening metros," LaSalvia said, adding that families at the lower end of the income spectrum are "bearing more burdens" from rent growth.As inflation <a href="https://www.washingtonpost.com/business/2022/01/22/wages-inflation/">offsets</a> wage gains and the cost of living rises — Americans are becoming increasingly <a href="https://www.huduser.gov/portal/pdredge/pdr_edge_featd_article_092214.html">rent-burdened</a>. For renters earning the <a href="https://www.census.gov/library/publications/2021/demo/p60-273.html">national median income</a> of $67,521 a year and paying a US median rental price of at least <a href="https://www.rent.com/research/average-rent-price-report/">$1,722,</a> rent works out to about 31% of their pre-tax pay. This exceeds what financial experts recommend budgeting for housing and indicates that rental affordability is slipping away from <a href="https://www.washingtonpost.com/business/2022/04/14/report-rental-affordability-declines-nationwide/">many</a> households."The percentage of rent-burdened metros has more than doubled in the past year and even many of those that don't match that threshold are inching precariously close," LaSalvia said.Although <a href="https://www.washingtonpost.com/business/2022/04/14/report-rental-affordability-declines-nationwide/">all US regions</a> are experiencing their share of affordability woes, Lu Chen, the senior economist at Moody's, told Insider that renting in the Sunbelt region — which <a href="https://kinder.rice.edu/urbanedge/2020/06/11/urban-policy-sun-belt-states-population-growth-rate-housing-employment#:~:text=The%20Kinder%20Institute%20defines%20the,South%20Carolina%2C%20Tennessee%20and%20Texas.">includes</a> states like <keyword id="11892889" type="UNKNOWN" weightage="60" keywordseo="california" source="Orion">California</keyword>, <keyword id="11910362" type="UNKNOWN" weightage="60" keywordseo="florida" source="Orion">Florida</keyword>, and <keyword id="11896956" type="UNKNOWN" weightage="60" keywordseo="texas" source="Orion">Texas</keyword> — is becoming increasingly unaffordable. According to rent.com, rents in Sacramento have increased by almost 8% year-over-year, while rents in Orlando and Dallas have climbed by almost 23% and 12%, respectively. Chen says the Sunbelt's uptick in rents has been caused by a lack of available inventory, which has driven rental competition. "In the early times of the pandemic, economic lockdowns, supply chain disruptions, and labor shortages jointly delayed multifamily construction," Chen said. "Coupled with the strong demand, multifamily rents skyrocketed at an unprecedented speed in many of these Sunbelt metros." While Moody's experts predict rental price growth will likely decelerate in 2022 due to a <a href="https://www.businessinsider.com/recession-inevitable-inflation-rate-hikes-fed-bill-dudley-2022-6">possible recession</a> in the next 24 months<a href="https://www.businessinsider.com/recession-inevitable-inflation-rate-hikes-fed-bill-dudley-2022-6">,</a> they say rents are likely to pick back up in 2023 — and that means rental affordability will continue to be a concern for many American households. "The list of rent-burdening metros will stay largely the same in 2023," Lu said. "Moderating demand pressures, slow but steady supply gains, slowing inflation, and a labor market that will remain fairly strong will reduce upward pressure on rent-to-income ratios, but are unlikely to dramatically reduce them, at least in the short-term."

One chart shows how the number of Americans who can't afford rent has spiked this year

<div type="image" title="People protest against a decision by Germany's Constitutional Court that the law called &quot;Mietendeckel&quot; (rent cover) putting a rent cap on apartments in Berlin is invalid, in Berlin, Germany, April 15, 2021. REUTERS/Christian Mang" height="451" width="902" msid="82828892" hostid="261"></div><ul class="summary-list"><li>Renters in <keyword id="3731" type="COMPANY" weightage="60" keywordseo="berlin">Berlin</keyword> plan to force a referendum on nationalizing thousands of apartments in the city in order to lower rents.</li><li>Under the plan, landlords would be forced to sell their apartments to the city, which would then lower the <keyword id="6361997" type="UNKNOWN" weightage="60" keywordseo="rent">rent</keyword>.</li><li>Activists have more than half the 240,000 signatures needed to force a referendum.</li><li>It is the latest front in the battle for fairer rents after plans for a rent cap were overturned in the city.</li></ul>Like many cities around the world, rents in the German capital of Berlin have soared in recent years, <a href="https://www.dw.com/en/german-lawmakers-bicker-over-expropriation-to-control-rental-insanity/a-48246992">doubling in the last decade alone</a>.But unlike many other cities, the people of Berlin are actually doing something about it.First residents persuaded the local authorities to bring in a rent cap that instructed landlords to freeze rents at 2019 levels.However, that was overturned by Germany's federal court in April, <a href="https://www.reuters.com/article/uk-germany-realestate-court-idUKKBN2C20Z7">which ruled the measures unconstitutional.</a>Now local campaigners are planning something even more radical: a bid to nationalize thousands of privately owned apartments in the city.Specifically, campaigners want the government to take apartments from real estate firms that own more than 3,000 apartments, place them into public ownership, and rent them out at more affordable rates.The estimated market value of the real estate in question is up to €36 billion ($44 billion), <a href="https://www.google.com/search?client=safari&amp;rls=en&amp;q=%E2%82%AC36+billion+expropriate+berlin&amp;ie=UTF-8&amp;oe=UTF-8F-8&amp;oe=UTF-8">CityMonitor reported</a>, but the group has suggested compensation of as little as €8 billion ($10 billion), arguing that the prices are based on speculation and overpriced rental yields rather than real value."The housing market in Berlin seems like paradise if you've lived in London or Paris," Jonas Becker, a 30-year-old academic who lives in the German capital, told Insider."The housing market in Paris is absurd because you can't find any affordable housing. But that's an evolution we see in Berlin as well. The rising rents don't correspond anymore to wages, and that's something we want to address."Becker is a spokesman for a group of housing activists called "<a href="https://t.co/uUQB1HPDN2?amp=1">Expropriate Deutsche Wohnen &amp; Co</a>," referring to the city's biggest real estate group. The group says the compensation would be provided to landlords gradually using the rents, rather than costing the taxpayer.<h2>Berliners are rising up for fairer rents</h2><div type="image" title="germany rent landlords.JPG" height="1320" width="2641" msid="82828893" hostid="261"></div>The idea is certainly very radical, but it is gathering plenty of support from Berliners.A petition started in February for a referendum on the plan has already collected 130,000 signatures, meaning there is a very real possibility that Berlin authorities will be forced to hold a referendum on the subject in September.In a city where around 85% of residents live in rented accommodation, and where <a href="https://www.berlin.de/rbmskzl/aktuelles/pressemitteilungen/2020/pressemitteilung.994868.php">more than 200,000 publicly owned apartments have been sold off </a><a href="https://www.berlin.de/rbmskzl/aktuelles/pressemitteilungen/2020/pressemitteilung.994868.php">since 1990</a><a href="https://www.berlin.de/rbmskzl/aktuelles/pressemitteilungen/2020/pressemitteilung.994868.php"> to private equity firms and hedge funds</a>, the issue has taken on acute significance. "For my generation, it's nearly impossible to own a building or an apartment - something that has been very possible for our parents," said Becker. "We will probably rent our whole lives."He said that many Berlin residents, especially younger ones, were radicalized by the German federal court's decision to overturn the rent cap last year, <a href="https://apnews.com/article/berlin-germany-state-governments-courts-689f380e8ee809dd17eb6d651d8852f2">which prompted thousands of people to march through the streets, banging pots and pans in protest</a>. Many landlords are now charging their tenants more than they were before the rent cap, in order to make up for lost income.The group wants to collect 240,000 signatures by the end of June, which would be enough to force a referendum on the subject. There is also a strong chance that the referendum could pass, forcing lawmakers to consider the plan: A poll <a href="https://www.tagesspiegel.de/berlin/nach-mietendeckel-aus-47-prozent-der-berliner-fuer-enteignungen-von-immobilienkonzernen/27116116.html">carried out in April indicated that 47% of Berlin residents supported the proposal</a>, with 43% opposed and 9% undecided.However, even if the referendum is successful it will be a struggle to actually get the plan into legislation. Die Linke, the left-wing party with 69 seats of 709 in Germany's parliament, is the only one to have offered the proposals formal support, <a href="https://www.dw.com/en/german-lawmakers-bicker-over-expropriation-to-control-rental-insanity/a-48246992">Deutsche Welle reported</a>. Germany's dominant conservative parties <a href="https://www.dw.com/en/german-lawmakers-bicker-over-expropriation-to-control-rental-insanity/a-48246992">have been quick to condemn the proposals</a>.Nonetheless, Becker said that even talk of a referendum has pushed radical solutions for Berlin's rental problems into mainstream dialogue. "Many people now consider us a real opponent they have to deal with, not as left-wing radicals who want a revolution. That's not what we want to do," he said.

Renters in Berlin have a radical plan to seize apartments from landlords and are set to force a referendum that could revolutionize the battle for fair rent

In a slide titled "<a href="http://www.businessinsider.com/jp-morgan-funds-guide-to-the-markets-2013-1#-21">The After Math Of The Housing Bubble</a>," JP Morgan Funds's David Kelly offers a chart of monthly <keyword id="6361997" type="COMPANY" weightage="60" keywordseo="Rent">rent</keyword> versus monthly mortgage payments to capture an imbalance in the <keyword id="35061" type="ORGANIZATION" weightage="60" keywordseo="housing">housing</keyword> market.
Americans continue to be unable or unwilling to buy a house. Many still remember what happened in the housing bubble not just a few years ago.
Meanwhile, this the <a href="http://www.businessinsider.com/maury-harris-on-housing-market-wildcard-2012-12">demand for rentals have exploded</a>, so much so that average rents are much higher than average mortgage payments.
Here's the chart illustrating the evolving trends:
<div class="image-container" style="width:610px"><div class="image"></div>JP Morgan FundsCensus Bureau, J.P. Morgan Asset Management. Monthly mortgage payment assumes a 20% down payment at prevailing 30-year fixed-rate mortgage rates; analysis based on median asking rent and median mortgage payment based on asking price.</div>

CHART: How Rent Became More Expensive Than Mortgage Payments

<ul class="summary-list"><li>All <keyword id="1179621" type="PERSON" weightage="60" keywordseo="Rent-the-Runway">Rent the Runway</keyword> shoppers are now able to buy, as well as rent, its secondhand clothes.</li><li>Previously, only paying members of its clothes <keyword id="442688" type="ORGANIZATION" weightage="60" keywordseo="rental">rental</keyword> services could buy its clothes.</li><li>Rent the Runway has had a tumultuous pandemic year, closing stores and laying off staff.</li></ul>Rent the Runway, the designer clothes rental business, is now selling clothes too, entering a booming <keyword id="3857859" type="PERSON" weightage="60" keywordseo="resale">resale</keyword> market.This week, the startup <a href="https://www.vogue.com/article/rent-the-runway-launches-resale">confirmed</a> that all shoppers could now buy used designer clothing from its site at a discount. Previously, this option was only available to people who paid an ongoing subscription to rent clothes.The <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">news</keyword> of this change comes after a tumultuous year for the company. The pandemic ravaged its business and demand for renting one-off pieces or officewear dried up overnight, wiping $250 million from the company's valuation and forcing it to <a href="https://www.businessinsider.com/rent-the-runway-permanently-closing-all-stores-amid-pandemic-2020-8">close its stores</a> and lay off or furlough half of its staff. Meanwhile, the resale market is booming, and according to estimates from the analyst Jefferies, generates nearly $30 billion per year and is on track to make up more than 10% of the apparel market over the next 10 years. Read more: <a href="https://www.businessinsider.com/rent-runway-ceo-jenn-hyman-profile-during-covid-crisis-2020-9?r=US&amp;IR=T&amp;inline-read-moreead-more">EXCLUSIVE: Rent the Runway CEO Jennifer Hyman, one of the most successful female founders, is fighting to save her company</a>In an interview with <a href="https://www.vogue.com/article/rent-the-runway-launches-resale">Vogue</a> this week, Rent the Runway CEO Jennifer Hyman said the company hoped to broaden its reach by reselling clothes."This is another way for customers to engage with us for the first time," she told Vogue. "There's a very broad audience of people who want to consume secondhand, but potentially didn't come to our platform in the past because they weren't ready to subscribe, or they didn't have an upcoming party or event."And by combining rental with resale, the company can boost profit margins through multiple transactions on the same item, she said."Because we monetize the product through subscription, by the time we're selling something, we may have already rented it a few times and made money on it."We don't have to charge as much as some of our competitors, who only have one opportunity to make their margin. There's a value to the customer that she's likely going to find better pricing on our platform," she said.Rent the Runway already has a partnership with online resale platform ThredUp, which launched in September last year and brought used, unsold inventory onto ThredUp's site. Insider contacted Rent the Runway and ThredUp for more details on their future plans for this partnership, but did not immediately hear back.As of Thursday, <a href="https://www.thredup.com/revive?department_tags=women&amp;include_maternity=true&amp;include_petite=true&amp;include_tall=true&amp;state=listed%2Creserved&amp;supplier_id=44087779supplier_id=44087779">hundreds of items</a> from Rent the Runway were listed on ThredUp's site.

Rent the Runway enters the $30 billion resale market, making its secondhand designer clothes available for all shoppers to buy, as well as rent

<ul class="summary-list"><li>Shelter <keyword id="22195" type="COMPANY" weightage="60" keywordseo="Inflation">inflation</keyword> - which tracks <keyword id="11273699" type="UNKNOWN" weightage="60" keywordseo="rent-prices">rent prices</keyword> - is set to boom just as price growth elsewhere cools.</li><li>The jump could lead inflation to normalize above the Fed's long-term target of 2%, Morgan Stanley said.</li><li>Climbing home prices and the end of payment forgiveness will likely drive shelter inflation higher.</li></ul><keyword id="6361997" type="UNKNOWN" weightage="60" keywordseo="rent">Rent</keyword> prices tumbled at the start of the pandemic and are only just now on the rise. But where inflation in other pockets of the <keyword id="34412" type="ORGANIZATION" weightage="100" keywordseo="economy">economy</keyword> is expected to cool off, rent might just keep climbing.The Federal Reserve, Biden administration officials, and much of Wall Street see elevated overall inflation eventually moderating as the economy settles into a new normal. The last inflation report, while stronger than expected, showed price growth picking up in services closely linked to reopening. The consensus holds that as such bottlenecks and pent-up demand fade, inflation should moderate, but "shelter inflation," or rent, could be the big exception to that.Rent prices are flashing "signs of more persistent inflationary pressures" on the horizon, Morgan Stanley economists said in a Sunday note. Shelter inflation - which covers rent and owners' equivalent rents - is only just picking up after prices cratered through the pandemic.Goldman Sachs echoed its peer in a Monday note, saying the "special factors" that held down shelter inflation during the health crisis will soon ease up and drive prices higher.The shelter-inflation gauge is critical for broader inflation, since it represents "more cyclical, more persistent, and more inertial sources of price pressures," Morgan Stanley said. And as shelter inflation accelerates through 2021, it could lead broader inflation to normalize above 2%, the team led by Ellen Zentner added.<div type="image" title="Shelter inflation" height="386" width="586" msid="82717998" hostid="261"></div>Such an outcome could be worrisome for the Fed. The central bank has said it aims to let inflation run above 2% for some time before looking to pull it back to that threshold for the long term. Inflation settling above that level could force the Fed into an unforeseen corner.Forecasts suggest soaring shelter inflation could also push inflation expectations permanently higher. Shelter prices are expected to grow 3.8% year-over-year by the end of 2022, Goldman economists said. Inflation will accelerate further and land above 4% in 2023, exceeding the highs of the last economic expansion.With renters making up nearly one-third of the housing market, such strong inflation could spark intense price concerns. Elevated inflation expectations can drive real inflation higher, as businesses tend to raise prices and workers ask for higher wages when they expect price growth to accelerate.Skyrocketing home prices could add to the sector's price pressures, the team of Goldman economists led by Jan Hatzius said. A historic shortage of home inventory and surging demand led home prices to <a href="https://www.businessinsider.com/home-prices-fhfa-february-record-jump-supply-shortage-housing-market-2021-4">climb at their fastest-ever rate</a> in February, according to the Federal Housing Finance Agency. Although home prices don't directly affect shelter inflation, Goldman found that 5% to 15% of home-price growth eventually spills over into shelter inflation.To be sure, shelter inflation counts for just 20% of the core Personal Consumption Expenditures index and 40% of the core Consumer Price Index, two of the most popular broad inflation gauges. It would take considerably strong shelter inflation to pull both indexes to worrying levels.Still, the component is one to watch as the country reopens, Goldman said. The end of pandemic-era payment forgiveness will likely skew data later this year, as will a tighter labor market. If those factors can fuel stronger shelter inflation expectations, broad inflation could follow.

You Searched For "rents" and got 13 results

Claiming tax exemption showing rent paid to relatives? Five things to keep in mind

Anagh Pal

Goldman Sachs says rent increases should slow down this year

Ben Winck

Boston is about to overtake San Francisco as a more expensive city for renters

Ben Winck

The 6 cities and states trying to stop landlords from jacking up rent prices

Jason Lalljee

Here is how you can pay your rent using your credit card

Rounak Jain

The Puzzling Rent-or-buy Debate

Naveen Kukreja

Inside the fight to save Rent the Runway

Matt Turner

OYO will now have bikes and cars for rent at their hotels

Prabhjote Gill

One chart shows how the number of Americans who can't afford rent has spiked this year

Alcynna Lloyd,Madison Hoff

Renters in Berlin have a radical plan to seize apartments from landlords and are set to force a referendum that could revolutionize the battle for fair rent

Thomas Colson

CHART: How Rent Became More Expensive Than Mortgage Payments

Sam Ro

Rent the Runway enters the $30 billion resale market, making its secondhand designer clothes available for all shoppers to buy, as well as rent

Mary Hanbury

Rent's big comeback could be the thing that makes stronger inflation permanent

Ben Winck

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