Company lease flats in Mumbai
A company lease is a home rented in the company's name for an employee to live in. Rentu handles leases of 12 months or more, for homes and offices, and our fee is one month's rent. This page sets out what such a lease involves and what homes near the business districts rent for, from our own listings.
What homes rent for near the business districts
Asking rents from our listings over the last 12 months: the typical rent in bold, the middle half of the market below it. Agreed rents are often a little lower.
| Area | 1 BHK | 2 BHK | 3 BHK | 4 BHK |
|---|---|---|---|---|
| Bandra West | ₹90K ₹80K–₹1.23 L | ₹1.75 L ₹1.5 L–₹2.25 L | ₹3.5 L ₹2.5 L–₹3.75 L | ₹5.5 L ₹5 L–₹7.12 L |
| Khar West | ₹90K ₹65K–₹1 L | ₹1.8 L ₹1.35 L–₹2 L | ₹2.75 L ₹2 L–₹3.25 L | ₹4.75 L ₹3.5 L–₹5.5 L |
| Juhu | ₹85K ₹82K–₹85K | ₹1.5 L ₹1.4 L–₹1.75 L | ₹2.75 L ₹2.21 L–₹3.44 L | ₹4.5 L ₹4 L–₹7.12 L |
| Worli | ₹90K ₹75K–₹1.1 L | ₹2.3 L ₹1.6 L–₹2.7 L | ₹3.75 L ₹3.25 L–₹4 L | ₹6 L ₹4.72 L–₹7 L |
| Lower Parel | ₹70K ₹63K–₹81K | ₹1.25 L ₹1.1 L–₹1.85 L | ₹5 L ₹3.89 L–₹5.5 L | ₹7 L ₹6 L–₹7.5 L |
| Powai | ₹75K ₹70K–₹78K | ₹1.1 L ₹95K–₹1.4 L | ₹1.4 L ₹1.25 L–₹1.5 L | ₹2.8 L ₹2 L–₹3.25 L |
| Bandra East | ₹80K ₹75K–₹85K | ₹1.38 L ₹1.2 L–₹1.59 L | ₹3 L ₹2.5 L–₹3.5 L | ₹4.5 L ₹4 L–₹5.14 L |
How a company lease works
Who signs
The company is the licensee on the leave and licence agreement and pays the rent. The employee who will live in the flat is named in it as the occupant. A director or an officer authorised by the company signs on its behalf.
Papers the company gives
Owners usually ask for the company's PAN, its certificate of incorporation, a board resolution or authority letter for the person signing, and the occupant's identity proof. Ask early, because a board resolution can take a few days to arrange.
Papers the owner gives
Proof of ownership such as the sale agreement or share certificate, the owner's PAN and identity proof, the society's no-objection where the society asks for one, and the bank details the rent will be paid into.
Registration
In Maharashtra a leave and licence agreement must be registered. It can be done online with biometric verification of both sides, so the company's signatory and the owner each need a short appointment or a home visit.
Tax deducted at source
A company paying rent deducts TDS where the Income-tax Act requires it, at the rate and threshold in force for that year. The company's finance team applies the rule and issues the owner a TDS certificate; the owner's PAN is needed for this.
GST
Where the company is registered under GST, renting a home to it can attract GST under reverse charge, which the company pays. The company's tax team decides how it applies to their case.
Police intimation
Mumbai Police asks that every tenancy be reported. The owner files the details of the occupant, usually online, once the agreement is signed.
Terms to agree up front
Lease length, lock-in period, notice period, yearly rent increase, deposit, who pays society charges and which furniture and appliances stay. Write each one into the agreement rather than leaving it to an email.
From shortlist to keys
- Tell us the budget, sizes, preferred areas and move-in date, and whether the home should be furnished.
- We send homes that are free now and confirm each one with the owner before any visit.
- The employee visits, in person or on a video walk-through, and picks a home.
- Rent, deposit and terms are agreed, and both sides share their papers.
- The agreement is drafted, signed and registered; the deposit and first rent are paid by bank transfer.
- Handover with photos of the home's condition, keys, and the police intimation filed.
How long this takes depends mostly on papers and signatures on both sides. A company that has its board resolution ready can usually move faster.
Moving to Mumbai?
Tell us your office, school and budget. We shortlist homes and plan one visit day.