Magicbricks launches tenant verification, rent agreement, payment services on its platform

Realty portal Magicbricks on Monday said it has started new services like rental agreement, tenant verification, and rent payments for home owners and tenants on its platform.

Magicbricks.com is owned by Magicbricks Realty Services, which is a subsidiary of Times Internet, the digital arm of the Times of India Group.

"Services for tenant verification and rental agreement can be availed for prices starting Rs 499. Tenants can also use Magicbricks’ Pay Rent platform to transfer rents (up to Rs 45,000) to their landlords by using credit cards and earn reward points,” the company said in a statement.

Earlier, Magicbricks had launched services like home sanitization, pest control and home loans on its platform.

The rental products are aimed at building a fair and transparent relationship between landlords and tenants, it said.

Magicbricks said its monthly traffic exceeds 20 million visits. It has an active base of over 1.4 million property listings.