The individuals who want to earn lucrative money from renting commercial property. For them, the process of leasing/renting out space for installing the ATM or Automated Teller Machine to the bank institution can be an excellent and stress-free solution. If you know the process, then it is relatively easy for you. Henceforth, you will face several problems in the entire process.
How to Rent Plot/Land for ATM Machine Installation
Renting the property, especially the house, is a common thing to earn a lucrative amount of bucks. However, the expenses for homes are minimal. Therefore, it is beneficial to leasing out the property to the businesses. But, it is not an easy process because firstly you will have to find the potential tenant. To some extent, it is a sophisticated challenge.
For this, you will have to face several verifications, background checks, and so on. To escape this situation, most of the commercial property owners give the preference for leasing the property to ant bank institutions. In real estate, it becomes trendy to leasing out the property to the bank institution for installing the ATM. If you are well aware of the process
Process to Apply Online/Offline for ATM Machine Space Rent
There are some specific and particular guidelines for an ATM set-up on the commercial property. Here is the list of some policies.
- The first and foremost step is to approach a bank with the proposal of providing your space for renting to install an ATM.
- After that, it is up to the bank that they will consider your proposal. Further, they start verification either space fulfils their requirements or not. In addition to it, they also look for the area; it means the demand for the site.
- Next, if they are satisfied with space and agree for installing ATMs, then they will offer the format of the bank. In this format, it is required to provide your proposal.
- Generally, banks prefer those properties which are free held or no loan property.
- Moreover, the room for ATM space will be 10 feet by 10 feet room.
- Further, the bank will decide between renting the space which is provided by the owner. In addition to it, rates will be depended upon the area and based on the running market. It varies from Rs 60 per sq. feet to Rs 150 sq. feet per month.
- Keep the one thing in mind that you need to offer the space for the server room and area to install the dish for proper networking connectivity on the roof.
Alternative options for Renting out your Plot/Land for ATM Machine Installation to Major Banks
These are the specific guidelines, and you must know this information when you make a mind to rent the space to any bank. Apart from this method, you will also find two more options. The first and foremost is you can contact that broker who mainly deals with providing the bank’s properties. The broker will do all the formalities. In addition to it, he will also find an exciting bank for your proposal.
The next option is, you can use the local newspaper for advertisement. Mention your proposal that you want to offer the space for rent to the bank for installing the ATM. Moreover, you can take the ATM franchise. It is also an attractive way to use commercial space. The installation of the ATM includes the security deposit which may bed vary from Rs two lakh to Rs three lakh.
The inference of complete analysis is that the information mentioned above is useful for those who want to rent their space to a bank. In addition to it, you can choose the method for applying as per your convenience.