If you are a person who has invested heavily in the real estate industry in India, chances are that you have more than a few homes here. If you live in India or are an NRI, you can own multiple homes here. But, when you own homes and can’t be there to rent/lease, or take care of it, what happens?
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This is actually a common phenomenon, plenty of landlords own 2 or more homes and might not even reside in the same city or country as the homes. In this case, they still need to rent it out, maintain it, and they even depend on the rent that comes in. So, to help these owners, property management companies have been created.
What do property management companies do?
Property management companies, as the name suggests are companies that take care of your property when you are not available, or simply don’t have the time to take care of these houses.
Read: Property management in Pune
If you have multiple properties, they will provide you with the manpower and assistance needed to keep all of them occupied (rented out), and in good condition through maintenance checks and services.
If you have one house in India but live out of the county, they will again step in to take charge of the property so that you have nothing to worry about. They will find tenants for you, do the paperwork for you, keep your apartment safe, and in good condition. In other words, they do everything that you would for your house and charge a small fee to do so.
How do property management companies help me?
Well, as mentioned, property management companies look after your property on your behalf. They will check with you and get your approval before working on your home, before finding a new tenant, before signing paperwork, before maintenance work like painting, repairs etc. are undertaken. Apart from this they don’t disturb you or make you travel unnecessarily.
If you are an NRI, this service is especially useful. You no longer will need to travel to India to look for tenants, you won’t have to stay back to sign Rental Agreements, you won’t have to answer your tenants calls about repair and maintenance requirements, you won’t have to worry about following up on rent collection, you don’t have to worry about anything! You save thousands by travelling less, and on expensive international calls. The other benefit is that you don’t have to ask or worry your friends and family in India to check on your home!
Read: How To Choose the Top Cities In India to Invest in For NRIs In 2020
How do I choose a property management company?
Choosing a property management company can be tricky. You are entrusting them with one of your most expensive assets, your home. You need to ensure that the company you choose is a safe, trusted, experienced and reliable one, not to mention professional and affordable.
The best way to choose such a company is by looking at reviews, asking people who have used them, looking at the number of customers they have served, if it is a small company or a reputed and registered one.
Don’t trust companies that have no record, they could easily misuse your house and cause damage to your property. You will have a hard time holding them responsible and getting your home back from them. There are many cheats who will lure you with low prices and unbelievable offers, but remember, it is always better to pay more and go with a trusted bigger brand than to pay less and suffer losses. Many land sharks are known to impersonate owners, fake papers and sell their land without the owners even being aware!
Do property management companies only help with rental properties?
Most property management companies help you to manage your rental property. But, if there comes a day where you wish to sell your rental properties, then what happens? The good news is, when you hire a property management company like NoBroker, they will manage the rental and sale of your home. They will find buyers on your behalf, show the house on your behalf, provide you with any assistance you might require with TDS, Sales agreements and other documentation. You can read more about the services offered here.
Read: Property Management Services in Bangalore Karnataka
What property management services does NoBroker provide?
NoBroker has been in the Real Estate business for many years now and serves more than 10 lakh customers every month. When you work with a company that has this much experience dealing with customers and catering to their requirements, you can be assured that the services are seamless and hassle-free. When it comes to property management, these are the services you can avail from NoBroker-
- Faster Rent-outs – with lakhs of customers signing up, it is easy to find the right tenant for your home. It is faster and you get more options to choose from. You can find a tenant in 7 days or less.
- Background verification of tenants – the safety of your home is a major concern, every tenant that you approve of will go through a background verification process before any paperwork is signed. Only once the report comes back clear will they be allowed to sign a rental agreement for your house.
- Phone Relationship Manager – If you have any questions, demands or suggestions, you can reach your very own relationship manager who will give you the support you need at any time. They will be your single point of contact and will be able to provide you with any information you need.
- Field Relationship Manager – when you have prospective tenants coming to visit your home you don’t have to fly down to show it to them. Our Field Relationship Manager will be in charge of showing your home to tenants and ensuring that you are not disturbed in the process.
- Agreements and documentation assistance – with the help of POAs Rental Agreements are taken care of by NoBroker. This means you get to set the rules but don’t have to fly down or worry about doing any of the paperwork yourself. Everything gets done here and sent to you for approval.
- On-Demand House Inspection Services – If you feel that your house needs to be checked on, or you’re worried about how the tenants are treating your house, then ask for a house inspection. A thorough checklist is made and everything is checked for on your behalf.
- On-demand Periodic Maintenance – with skilled and professional workers signed on, any minor or major maintenance requests can be easily handled.
- On-Demand house photo shoot or video shoot – if you don’t already have pictures of your house, NoBroker will help you by taking professional quality pictures and videos of your home. This is done as it is a proven fact that houses with good quality images get rented out 10x faster.