Category Property Management

A property manager is a professional who is responsible for managing and overseeing the day-to-day operations of a real estate property on behalf of the owner.

Read More

The property market in Delhi NCR was showing signs of recovery after being impacted by the COVID-19 pandemic.

The Delhi NCR (National Capital Region) includes areas such as Delhi, Noida, Greater Noida, Ghaziabad, Gurgaon, and Faridabad. In recent years, the property market in Delhi NCR has witnessed a surge in demand for affordable housing, especially in the outskirts of the city.

Read More

It is challenging for contractors to guarantee that the homes they construct adhere to Vastu principles. It is crucial to adhere to fundamental Vastu guidelines for your new home if you believe in Vastu and are considering purchasing a new residence. Vastu makes recommendations for the ideal colour, format, shape, and directions to ensure happiness and positivity in every room of your home.

According to Vastu, the individual residing in a house is subject to the energy that a house must possess in order to be a home. It is essential to comprehend how the practise of Vastu and positive energy in the home are related.

Vastu Shastra Tips for New Home

By using these suggestions, you may make your home a calm and joyful environment. Vastu for homes is a prominent issue in the architectural and interior design worlds.

Few Basic Principles of Vastu For Home

• Checking the shapes of the rooms is one of the Vastu recommendations for new homes. According to Vastu, a house should ideally be square or rectangular in shape.
• Basic Vastu for a Room: The home’s rooms should be bright, spacious, and tidy.
• Regarding Furniture: According to Vastu for the home, heavy furniture like beds and cabinets should be placed in the south-west. Building stairs with the south-west orientation in mind is a quick Vastu advice for new homes.
• Water according to Vastu: Keeping plants and water-related decor in your home, such as an aquarium, water painting, or fountain, is a crucial Vastu advice.
• Vastu tip for the dining table: A crucial Vastu for your home’s dining area

1. Vastu Tips For New Home – Vastu Direction for Entrance

According to Vastu advice for new homes, the home’s main door serves as both a family entryway and a source of energy and vibrations. Your home’s main entrance should be situated so that it faces north, east, or northeast. When you step outside, it must be constructed so that you face north, east, or northeast. Before purchasing or constructing a home, confirm that the plan focuses on these specific instructions.

2. Vastu For Dining Hall – Vastu For Home

If you have a separate area for the dining area, the optimal location for your dining hall is in the West zone. But if it’s not possible for some reason, you can choose among heading north, east, or south. However, you should make every effort to steer clear of the southwest zone direction, as this is not a good Vastu for home direction for the eating room.

3. Vastu For Staircase – Vastu For Home

Maintaining peace and harmony at home depends much on the staircase’s arrangement in accordance with Vastu. The proper Vastu for a staircase, according to home Vastu, is in the southwest. Other directions are a possibility as well, but you must first speak with a Vastu specialist about them. But keep in mind that the staircase location must be avoided at all costs towards the northeast.

4. Vastu Tips For New Home – Vastu for Living Room

The living room is the hub of activity in any home and where visitors enter to get a first impression. There should be no clutter in the living room. Your new residence’s living room or entryway must face east, north, or northeast. Additionally, the furniture in that space ought to be arranged facing west or southwest. By doing this, you may be sure that your house is Vastu-dosh-free.

5. Vastu Tips For New Home – Bedroom Vastu

Bedrooms should face southwest in order to promote excellent health and fruitful relationships. The southeast-facing bedroom can lead to arguments and clashes between couples, whereas the northeast orientation is unhealthy. The bed should also be positioned with the head facing west, in the southwest corner of the room.

6. Vastu Tips For New Home – Vastu For Kitchen

The kitchen should be constructed at the southeast corner of the house, according to Saral Vastu. Avoid building a kitchen in the north, northeast, or southwest of the home. Kitchen appliances should ideally face southeast as well.

7. Vastu Tips For Kid’s Room

According to Vastu, the children’s room should be positioned in the new home’s southwest corner. In order to ensure luck and peace of mind, children should sleep with their heads turned towards the south or east.

8. Vastu Tips For Meditation Room

According to the ancient Vastu theory, a home should feature a meditation area where people can reflect and connect to a higher power for their spiritual development.

9. Vastu Tips For New Home – Vastu for Bathroom and Toilet

As important as any other room in your new house, the bathroom and toilet should be designed according to Vastu. By clearing negative energy, bathroom and toilet Vastu suggestions improve your happiness and wellbeing. Here are some Vastu recommendations for the toilet and bathroom.

10. Vastu Tips For New Home – Shape of the Rooms

Additional guidelines from Vastu Shastra apply to the arrangement of every room in the house. Make sure your house has square or rectangular rooms with straight lines. Circular furniture or spaces should not be used, according to Vastu.

11. Vastu Shastra For Home – Proper Ventilation

Appropriate ventilation and adequate daylight are essential components. According to Vastu for home, all rooms in the house should get regular sunlight and should have proper ventilation. Doing this will help the flow of energy and increase positivity.

12. Vastu Tips For New Home – Vastu Colors

The colours we use to decorate our homes are given a lot of consideration in vaastu for homes. As a result, you should avoid using dark hues. To increase positive energy, choose hues like white, yellow, pink, coral, green, orange, or blue.

13. Auspicious Time to Move-In As Per Vastu Shastra

One of the most important Vastu guidelines to follow is to base all you do on the Panchanga laws (Hindu Calendar). An expert can assist you in selecting an appropriate time and directing you while you carry out the rites required for the Graha Pravesh puja ceremony.

14. General Vastu Tips For New Home – Vastu for Home

Vastu for house advises entering an empty house before performing any rites. Only the gas or stove should be added to the kitchen at that point. Break a coconut at the ledge when you enter, then step inside with your right foot first.

15. Vastu Shastra For Home – Performing Havan

A fire ceremony called a havan is done in a new home to obtain God’s blessings. Household members pray to Lord Ganesha and make offerings of fire, flowers, turmeric, ghee, and coconuts. To banish negativity, blessed Ganga water is liberally sprinkled about the residence.

Vastu Tips For Negativity Attracting Objects

Unknowingly, you might have some items around the house that might repel bad energy. By getting rid of the things that cause clutter, confusion, and disorder, you can build a positive and serene refuge.

• Broken objects

Broken items like shattered glass, damaged china, and broken artefacts are frequently tucked aside, disregarded, and forgotten. The residents of the house have a history of experiencing melancholy, unhappiness, hopelessness, and despair as a result of these damaged artefacts.

The accessories must be examined carefully to make sure there are no cracks or stains. When anything breaks, it needs to be fixed right away or replaced.

• Negative artwork

Negative imagery such as scenes of shipwrecks, battles, sobbing children, and the sinking sun, among other things, creates a depressing and painful atmosphere in a home. Additionally, artwork and photographs depicting waterfalls, fountains, the ocean, rain, or aquariums might lead to psychological, emotional, and financial troubles.

• Artificial/dried flowers

Positive energy flow in the home is hampered by dried-out or wilted flowers or plants. Avoid using carnations indoors as they are unlucky. Additionally, thorny plants have to be avoided because they might lead to member disputes and problems.

• Taxidermied animals/dead animals

Avoid purchasing anything made of taxidermied animals, tiger and panther skin, ivory sculptures, snails, or antlers. These things have energies that are sluggish, and death hangs over them. According to vaastu principles, strange objects should not be kept inside the home. This is why bonsai plants are discouraged since their full potential has been denied to them.

Summing Up – Vastu Tips For New Home

The goal of moving into a new home is to live in relaxing and enjoyable circumstances where tranquilly, optimism, and success are the norm. Simple Vastu suggestions can make a new home Vastu compliant, which will bring a lot of positive energy within. You’ll see a difference if you use this advice!

For More information, contact The Luxia – best interior designing service provider in india…

Finding a property free of any legal squabbles is a significant accomplishment. The frequency of land conflicts has increased along with the real estate sector’s phenomenal rise. Land ownership disputes have been a major cause of project delays on numerous occasions. Although the real estate law, which is being implemented in various phases throughout the country, will improve the situation for property buyers, here is a self-checklist to determine whether the property you are shortlisting is worthwhile investing in or not:

Check For The Title Papers

A property should have an unambiguous, transparent title. When purchasing a brand-new home, the construction company should own the land’s title. If purchasing a used one, carefully review the papers or consult a property lawyer to verify their validity.

Ask For Bank Approvals

Your work is halfway done if you are having the bank finance your home. The property is evaluated by banks before they approve your loan. Several banks provide on-site offers for apartment projects, which amply demonstrates that the real estate is legally vetted and has all necessary approvals in place. But be sure to read the fine print before you sign the bank loan contract.

Encumbrance Certificate

A certificate of encumbrance signifies that a property is legally free of any mortgage or outstanding loan. It also includes the previous owner of the property’s name. To determine whether the previous owner had mortgaged the property and whether all the dues had been paid, this is a crucial document when purchasing a resale property.

Tally The Approved Plan With Actual Site

Make sure you receive a copy of the approved map from the developer that has been approved by the local authorities if you are purchasing an apartment complex. This can provide you a realistic impression of the locale and any encroaching construction.

Check Out Property Tax Slips

Ask the prior owner for the property tax papers if you are purchasing a resale home. This will offer you information on two things: if the colony or region you are buying in is lawful or illegal; and whether the property is properly registered and there are no outstanding debts to the local government.

Project Has A Registered Society

A recognised society and a resident welfare association ought to be present in every apartment building. This is a legal process in and of itself, and it also provides information regarding the legitimacy of the project and the land you are purchasing.

Before you purchase a house, there are numerous tasks you must complete. You might blow through all of your savings or apply for a bank loan. Therefore, it’s crucial to consider these factors carefully and make a choice that will leave you feeling at ease.

When investing in real estate as an NRI, you immediately encounter one clear obstacle: your property is frequently very far from your residential region. It is challenging to make on-time trips and to stay current on regional changes and market trends. An NRI property management business can be very beneficial at this point.

When you live abroad, you may not have time to follow up on property concerns because you are already juggling other responsibilities.

Imagine there is a leak in the house where you rented out your residence in India and left it in the care of a close cousin. The tenant is attempting to reach your relative but is having trouble doing so, and you are not available because of the time difference. What does your tenant do, and what do you do to get that water leak fixed asap?

Although they appear straightforward, these circumstances could occur frequently. It all adds up: a broken window, a water leak, policy modifications, unforeseen tenant requests, etc. A relative might not be able to handle all of these issues in tough times.
As a result, you require an NRI property management company to oversee every aspect of your property.

These little but important issues are taken care of for you by an NRI property management firm. Additionally, they make sure any damages or maintenance tasks are finished if your tenant vacated unexpectedly, and they list your property in the appropriate places.

Here we list the benefits you can reap by getting yourself an NRI property management company.

Analyzes your Property and the Real Estate Market

You need someone who can continuously track the shifting real estate market and take the right action at the right time when buying or selling a property. If you don’t know the current market trends and the worth of the properties in your area, you can wind up undervaluing or overvaluing your real estate investment. Additionally, if you already own a property and want to rent it out, you might not be fully informed of the rent trends in your area.

You can get a team that is committed to finding the best real estate investment opportunities for you by hiring an NRI property management company.

Pays Attention to Every Detail

A competent property manager from an NRI property management firm will be able to periodically visit your property to oversee its care and maintenance. The property must be periodically inspected for weather-related damage and, if occupied, any unreported tenant damage, regardless of whether it is vacant or occupied.

For instance, a property manager will visit your vacant property to assess what repairs and improvements are needed, as well as how to prioritise them. Broken windows, water leaks, peeling paint, deep cleaning, etc. might all be examples. After a property manager has inspected the property, the next stage is to acquire, sell, or rent it.

When buying or selling a property, our team at LuXia uses efficient marketing to generate high-quality leads. We also handle all calls, visits, showings, and negotiations. When renting, we make sure that the prospective tenants have been vetted and satisfy any requirements you may have for who you rent your property to..

Inform People About your Property

If you are an NRI, it’s possible that you won’t have the time to keep up with all the listings and questions from prospective buyers, sellers, or tenants. You can lose money on your real estate investment due to a busy schedule. To find you the best buyer, seller, or tenant, an NRI property management company, however, has a team dedicated to creating appropriate ads and listings. Depending on the type of lead and the purpose of the property, they take the necessary actions when they locate the right person..

Looks After Tenant Management

A team of experts from an NRI property management firm work on several parts of your property, such locating possible renters and screening them. Your property manager will help you with the agreement formalities and cover all legal bases for you and your property when you are pleased and like the prospective tenants. A property manager will stop by to check on the building’s ongoing maintenance after your tenant has moved in. They are accessible to the tenant for any last-minute or urgent needs, complaints, or issues.

Manages all the Taxation and Legal Formalities

At LuXia, we fully assume responsibility for managing legalities and filing property taxes. As a result, you won’t need to worry about any of these issues. In order to prevent any legal penalties for your property due to incomplete paperwork, we also provide you with regular updates on any changes as needed.

The LuXia – NRI Property Management Company in Delhi

How do we know this is happening is one of the crucial concerns that property owners face. We at LuXia maintain our procedures’ transparency for all of our clients’ benefit. Furthermore, by distributing rent on time, we maintain a high level of service. Our committed customer care team responds to any of your inquiries.

A well-known O2O second landlord platform is The LuXia. We are a business situated in Delhi that provides expert housing asset management for certain apartments, villas, and homes. Our larger goal is to advance, streamline, and secure real estate transactions.

Conclusion

Due to the tremendous expansion of IT Centers over the years, important cities like Pune, Mumbai, Bangalore, Chennai, and Delhi NCR are now thriving rental hubs. Numerous NRIs and locals are investing in these properties because they offer significant rental income and capital growth and because they perceive a market opportunity.

Being a tenant, however, is challenging, especially if you intend to rent out your house. Maintaining a pleasing décor and dealing with problematic renters’ legal issues feel like never-ending tasks. To simplify the landlord’s job and lessen the hassle of NRI Property Management, several well-known NRI Property Management Companies in India provide cutting-edge end-to-end property management solutions.

5 Expert Tips on How to Choose an Excellent Property Manager

Your rental property is an asset that needs to be professionally managed and managed pro-actively in order to be properly protected. Unless, of course, she’s a real portfolio manager, you wouldn’t allow your neighbor’s acquaintance handle your stock account. Similar to this, your property needs a certified, knowledgeable, and accountable investment property manager.

Being a first-time landlord, selecting the ideal investment property manager might be a daunting undertaking. What credentials should you be seeking? How do you distinguish between poor managers of investment properties and those that will look out for your money like it was their own?

By thoroughly screening each of our property managers before designating them as one of our preferred partners, we at Luxia take a lot of the guesswork out of the equation for you. We’ll connect you with a nearby, recommended investment property manager and keep advocating for you to make sure everything goes as planned.

Here are five key ways to tell if an investment property manager is right for you, plus helpful questions to ask:

1. Look for specialized experience

The industry of property management is complicated. An investment property manager who is knowledgeable about current local, state, and federal laws is what you desire. Additionally, you want someone who has a track record of successfully managing the numerous challenges that come with managing renters and properties.

Find a property management company that has a lot of experience with the type of investment you have. Businesses that specialise in managing commercial properties, for instance, might not be prepared to handle residential properties effectively.

2. Verify professional licenses and certifications

A real estate licence may be all that is needed to manage a property in some places, and some states don’t require any kind of licence at all. Proper licensure and professional certificates should be able to support the technical skills of competent property managers and management businesses. To find out if a property manager has a valid real estate broker’s licence, contact the real estate commission in your state. Any certificates and professional affiliations are advantageous.

3. Check reviews and references

Nowadays, it almost goes without saying, but check out a property management company’s Yelp, Google, and Facebook ratings before scheduling a meeting with them. As is always the case with these websites, keep in mind that some reviews (such as an evicted renter) can have a vendetta that has nothing to do with the calibre of the service performed by the business. However, when comparing several businesses, review websites might be an excellent first resource.

It’s also a good idea to look up any complaints or glowing recommendations with more established sources, such the Better Business Bureau and Chamber of Commerce.

4. Examine the property management agreement

The property management agreement defines the working relationship between you and the property manager as well as the duties and obligations of the management team. Given the importance of the contract, it is your responsibility to thoroughly study it and make any required changes before agreeing to it. Verify that it has what you are looking for and that there are no unfavourable provisions.

5. Make sure they have the appropriate insurance

When we inspect the general liability, property casualty, and errors and omissions (E&O) policies of our Luxia-preferred property managers, we make sure they are adequate. Your property management agreement can also require you to have enough insurance, which is good for your own protection. Please feel free to inquire further about the required insurance coverage with your property management company.

It’s crucial to carefully assess prospective property managers, which is why Luxia does comprehensive due diligence when screening its recommended, best-in-class property management services. We look at past portfolio performance, fee schedules, number of years in operation, and much more.

Regardless of your choice—whether you go with one of our recommended property managers or pick your own—we hope the details provided in this article will give you the peace of mind that comes from knowing your investment is in capable hands.

6 TIPS TO HELP YOU CHOOSE THE RIGHT PROPERTY MANAGEMENT COMPANY

Let’s be honest. You are unable to complete everything. Owning and managing a residential rental property can be difficult, especially if you lack the necessary time, expertise, or experience. However, giving control of your property to someone else might be unsettling.

How can you pick a property management firm that would look after your house the same way you would?

Here are 6 tips for choosing a property manager that’s right for you.

Look for a list at the end of sample questions to ask when you’re interviewing your future property manager.

1.

Go local.

You want a company that has in-depth understanding of the neighbourhood market and all pertinent local, state, and federal laws when choosing a company to take care of your home. Additionally, you want someone who has strong ties to the reliable maintenance and repair companies in the area. The finest property management company for you will be a nearby business with strong ties to the neighbourhood.

2. Check out referrals.

Obtaining a list of property management businesses can simply require one conversation with your real estate agent, neighbour, or friend. However, follow up on every referral. Check out review websites like Google, Facebook, or Yelp to learn more and see things from different angles. While it’s true that some people like to complain on review websites after a bad encounter, these sites also provide a quick way to get a fuller picture of a company. To ensure that the business has no complaints, you may also check the Better Business Bureau before accepting any referrals.

3. Decide on a large firm or boutique experience.

There are many different types and sizes of property management firms. It could be only one individual, a small business, or even a bigger organisation. Which one fits you best? You might be concerned that working with an individual won’t provide you access to all the services you require. You could be concerned that working for a larger corporation will reduce you to a number on a list. As a property owner, consider carefully what degree of service you require and make a decision based on your preferences. Choose residential property management firms over those that are more interested in managing commercial properties. Long-term residential rental specialists are likely to have greater experience with the several specialised challenges that come with it.

4. Aim for a full range of services.

Whether you choose a property management firm or a single property manager, make sure you’re receiving the best value for your money. All rental advertising, application vetting, legal paperwork, property inspections, rent collecting, accounting and reporting, and maintenance should be handled by a full-service property management business. Select a company that has experience remodelling and selling investment properties if real estate is your area of interest as an investment.

5. Make sure the property manager is licensed.

California Business and Professions Code 10130 states that a property management company must possess a broker licence granted by the California Department of Real Estate. Property managers who recruit tenants, negotiate leases, or collect rent must at the very least be associated with a broker who manages properties and have a salesperson licence. If you foresee a property manager handling any of those duties on your behalf, make sure they are licenced by the appropriate state agency.

6. Listen to your instincts.

Trust your instincts, as you should in so many situations. Check out the company’s online and offline presences. Will they be able to effectively promote your home and draw tenants if they can’t do it for themselves? Before selecting if a property management business is the appropriate fit for you, schedule a personal appointment with them. Have your interview questions ready and be prepared.

Take the time you need to gauge your level of comfort with the information you’ve discovered after thoroughly investigating the property management firm. Go with your gut. Do you feel at ease leaving your house in this company’s care? Consider the situation from the viewpoint of potential tenants as well. Would you like to rent from this person a house?

Selecting a property management company is a crucial choice that can mean the difference between a hassle-free and problematic experience. Make the extra effort to locate a business that will uphold your rights and protect your property just as you would. You will be glad you did!

Get Legal Advice on Property Disputes by Property Lawyers

Living away from home is one of the main disadvantages of being an NRI. This has negative legal and emotional effects in addition to emotional ones.

NRIs all over the world have repeatedly encountered a wide range of property difficulties, including illegal occupation, tenant conflicts, the unauthorised sale of their hard-earned property, as well as other problems. Additionally, NRIs frequently struggle with problems relating to the ownership or status of their property title, register requirements, etc. They frequently become confused and anxious at this point and seek suitable legal counsel in order to solve their problem quickly and painlessly.

They are unaware, nevertheless, that a Property Management Lawyer can deal with issues like these with ease. These attorneys help NRIs to swiftly and accurately address their problems by pursuing things pertaining to their property.

How can a Property Management Lawyer help their NRI clients for a property dispute?

In order to help NRIs resolve their property conflicts, a property management attorney can be extremely helpful. A property management attorney may assist NRIs in a number of ways, from handling the matter to ultimately getting it determined in their favour. Among the important topics covered are:

1. Looking for prospective tenants for your property and coordinating with them
2. Handle any complaints, eviction matter, rent collection or any repair work etc. on behalf of their NRI client
3. Maintaining communication amongst tenants, landlords and site personnel
4. Providing accurate and relevant legal advice on matters relating to the existing market value of their property, available tax advantages and government restrictions, if any
5. Making you aware of relevant terms and conditions related to sale and purchased procedure, deed in accordance to the law of the land
6. Make necessary transactions related to the property
7. Locally resolving issues related to property
8. Handling matters like that of trespassing, encroachment and torts
9. Preparing and drafting deeds and filing them
10. Assisting  in document registration
11. Assessing the purchase lease and agreement
12. Legally representing the NRIs in the court of law if required
13. Filing an appeal against a decision if required
14. Negotiating or making settlement on behalf of the NRI client

As a result, you can contact us if you’re an NRI looking for dependable and trustworthy legal services to aid you with your legal difficulties. The Luxia is an easy-to-use legal platform that gives people all over the world an immediate, hassle-free solution to all of their legal issues. We offer a selection of over skilled lawyers who are only a click away.

As a rental property owner, you have many property management issues to take care of. Of course, you can always hire a property manager to deal with the nitty-gritty. On the other hand, you can opt to manage your property too. However, rental property management is not as easy as it seems. Right from managing your tenants to safeguarding your property to handling the finances, you have a lot to do.

Tips on Rental Property Management

Here are some rental management tips that can help landlords know about the do’s-and-don’ts when renting out their properties.

HANDLING TENANTS

When you rent out your property to tenants, learn about your tenants’ problems and address their issues. Also, by following up after resolving their grievances, they know that you care for their wellbeing. Now, a good way of reducing tenant complaints is by inspecting your property periodically.

Non-payment of rent is another common problem of homeowners. By sending rent reminders to tenants and levying late fees, you can avoid payment issues. As part of rental property management services, property managers make it easy for the tenants to pay up by accepting online payments.

MAINTAINING YOUR PROPERTY

The rent management laws require property owners to maintain their property. Therefore, you may find it difficult to get tenants if you do not carry out the mandatory maintenance works. More so, you will find it cheaper to maintain your property rather than putting up with any festering issues.

You must replace your supply hoses and drain lines every few years as part of your maintenance measures. By doing so, you can avoid water-related issues.

A property management company in Delhi NCR recommends remodeling your property to save on exorbitant replacement costs. The best way to reduce your repair and replacement costs is by conducting property inspections every three to six months. When you do so, you know about the maintenance issues sooner. In turn, you can fix the issues on time to prevent the problems from worsening.

When to hire a property manager?

Hiring an NRI rental property management company makes sense if you’re not residing in the same city as your rental property. Nevertheless, even if you stay nearby your rental property, a property manager eases your burden. Moreover, if you do not have the time to manage your property round-the-clock, your property manager can do the needful.

When you work with a well-established property management company in India, you allow the professionals to take care of the daily management responsibilities. They have tie-ups with vendors and can help to offer discounts on maintenance costs.

OVERALL

Appointing a property manager helps in other ways, too. Such professionals help to screen tenants. They can sift out the good-quality tenants to reduce your property management woes. You can also reduce your tenant turnover rate by keeping them happy. Even by interior designing your rental property, you can make tenants stay for longer. Adhering to the prevailing tenant laws to avoid legal hassles is another way of reducing your workload.

Now, the charges of property managers are within the 8 to 12% range of the monthly rent charges. In addition, however, you get tax benefits when you incur property management costs.

As a landlord, knowing the various kinds of property managers helps. After studying the different types of NRI property management companies, you can make your selection. You must understand that the services and charges of varying property managers vary, too. Keeping your budget and requirements in mind, you can hire a property manager that ticks all the boxes.

What are the different types of property managers?

The five different kinds of property managers are as follows.

• Individual Agent Property Manager

Hiring an individual agent as your property maintenance services manager may not be a good idea. They are not professionals and do not have much to offer. Neither they operate legally, nor they are insured. Merely having a license is no guarantee that they provide expert services. Instead of hiring sole agents, you are better off managing your property on your own. Such property managers handle between 1 to 50 homes.

• Side business Property Manager

A side business rental management company does not focus much on managing properties. Many times, they appoint one or two administrative staff to oversee the management of the property. They also allocate an individual agent who may help you out in leasing, but such appointees are not actively involved in the day-to-day management of your property. Usually, a side business property management company manages about 50 to 200 homes.

• The Lonesome Ranger Property Manager

Lone ranger property managers are professional, communicative, and well-trained in managing properties.  Like any professional rental property management company, they adjust to your needs and develop creative solutions to reduce your costs. Although they may be expensive, they perform a good job.

The downside of hiring lone rangers when you rent your property is that they cannot be around all the time. When they become sick or go on a vacation, you do not have anybody to supervise your property.

Compared to the specialized rent management companies, lone rangers may also not get vendors speedily for repairing works and at discounted rates. Lone rangers have portfolios within the 30 to 100 range.

• Average-sized Portfolio Property Manager

Working with a small to medium portfolio property manager is a hassle-free experience; they are consistent and reliable. For example, a prominent property management company in Delhi NCR has one man as your only point of contact and an admin backup team.

A reputed average-sized property management company in Delhi controls between 100 to 500 houses, with individual managers handling 100-200 portfolios.

• Large-sized Property Management Company

National brands managing between 500 to 1000 portfolios come under this category. By hiring a large-sized property management services Gurgaon, you do not end up spending a lot. Such companies use their size for increasing efficiency.

On the flip side, such property manages are not flexible because they have to coordinate with many departments. Moreover, there is less accountability as the blame (in cases of mishaps) falls on more than one department.

Although departmental property management companies provide a single point of contact for homeowners, coordinating with several departments is time-consuming.

FINAL THOUGHTS

When looking for a property manager, you must do your research well. Know about the different kinds of property managers and what they have to offer. One of the essential advantages of property management companies is that you do not have to worry about anybody breaching your property. Therefore, only know what to expect from the property manager that you’re hiring. Importantly, take a balanced decision after you consider all the related aspects.