Globalization is driving India’s fast urbanization. Metropolitan urban agglomerations, cities, and towns are already contributing more than two-thirds of India’s GDP. Amidst this sweep, the Real Estate sector has just begun to come out of slumber. Thus, seeking property maintenance services from professionals seems a great idea.
Investments are pouring into purchasing and the renovation of the property in the hotbeds of India’s urbanization. Big cities like Delhi-NCR, Bengaluru, Mumbai, Pune, Hyderabad and Chennai are leading the way, but second-tier cities like Jaipur, Ahmedabad and, Raipur etc. are in no mood to lag behind either.
Why let your home depreciate lying in neglect when Real Estate is picking up?
The Real Estate sector has begun to tick again. However, the dynamics of globalization are pushing an increasing number of people into becoming absentee proprietors.
The reasons are simple.
The enticing rate at which the value of properties is rising is enough discouragement for NRIs to sell them. It is also not uncommon for professionals and entrepreneurs alike to be compelled to stay away from their home soon after investing their hard-earned money into buying a new residential property.
NRIs and absentee homeowners living in India can now heave a sigh of relief.
Now that the Property Management companies are taking root, the glad tidings are that their residential properties will no more have to suffer from reckless tenants or physical obsolescence.
Why hire professional Property Maintenance Services?
Professional Property Management companies are set to gradually replace one of the chief functions of local property dealers and brokers.
That is – finding the right tenants.
However, there is plenty else that a Property Management company can deliver than just assuring that your residential property does not lie vacant.
Maintenance, Repairs and Renovation
Your home will lose value if it is not cared for.
Regular maintenance saves repair costs. Occasional renovation makes sure that your property stays in-demand in the rental market by keeping with the latest trends of interior designing and external looks.
Property management services for NRI homeowners maintain contacts or have in-house maintenance workers like plumbers, electricians, carpenters, etc. Besides, they also help you link with contractors, vendors and suppliers in case you wish to directly involve yourself with the repairing and renovation work from a remote location.
Paperwork and Additional Charges
This can be a real pain in the neck!
Soon after buying a new home, you would need to pay a number of property pre-possession charges. These are often hidden until very late in the deal and come as an unpleasant surprise from the developer.
These may include, stamp duty, holding charges, labour welfare charges, GST and connection charges for water, LPG, electricity, etc.
Besides, you need to get your property registered with the government. If you are already a homeowner, it has to be ensured that the maintenance charges and bills are paid in time.
Finally, it has to be routinely checked that your property complies with property laws and different local, state-level and national regulations. Residential Property Management companies cut this hassle by taking care of it all.
Maximize Rental Income
Rents rise as development projects progress and the housing market surges.
However, all owners compete to make the most out of it. Ensuring that your residential property derives you the rent it deserves and you maintain a steady flow of rental income is a challenge.
Besides, they also ensure timely payment and collection of rents.
Find Responsible Tenants
No one would want their property to go into wrong hands in their absence.
Property management companies carry out strict security checks before renting your home to ensure that tenants do not possess a criminal background.
Their experience counts in ensuring that your home is used in a responsible way, for good purposes, and it does not lose its charm.
They often carry inspections and represent the owners in case of conflict.
What services can you expect from Property Management Companies?
Residential Property Management companies employ dedicated teams to save your time and money whether you are a new buyer or already a homeowner.
Their income depends upon saving your money; thus, they will put in maximum efforts to ensure that your property’s value keeps on rising slowly yet steadily.
This is a win-win situation for both the company and the homeowner. Typically, the services they offer include:
- Pre-possession and Registry formalities: Property registration can be frustrating and time consuming and yet you might end up having incomplete or improper documentation. Besides, most people also end up spending extra money for lack of guidance.
A Property Management company ensures that all the documents that you would need as an owner are obtained in time.
These include, encumbrance certificate, allotment letter, no-dues letter, land-use certificate, registry (with the government), sale agreement, mother deed, completion and occupancy certificates, no-objection certificate, transfer certificate, property tax receipts and deed of conveyance.
The company also checks that the quality of doors, windows, construction, bathroom and kitchen fittings, switches and electrical fittings and tiling, etc. is in accordance with the commitments made by the seller/builder.
- Property Maintenance and Interior Designing: This involves keeping your home in good shape and comfort-level in accordance with the latest trends.
You would be communicated of the maintenance needs of your home, and if needed, you would also be informed about the suppliers and contractors, besides the maintenance tasks carried out at regular intervals.
You would also be given a choice of interior designers and designs so that you can remotely participate in transforming your home the way you like it.
With Property Maintenance services, you no more need to keep a track of bills and charges. They would pay it on your behalf. They would also send you pictures, reports, copies of bills and other necessary documents so that you can keep a track-record of your home.
Some companies even allow real-time tracking with a client portal. All you need to do is log-in to your account and get all the details, bills and other critical information.
- Renting Services: These include rent evaluation, marketing of your property so that it does not remain vacant, conveying tenant demands and expectations, rent agreements, security checks, inspections, providing tenant choices and bargaining for rents that your home deserves.
Managing your property is not a mean task even when you are around. But it is next to impossible if you are far away.
There are plenty of tasks to ensure that you extract unhindered income from your property while also augmenting its value. This could be too much to be left for the family members and relatives.
Professional Property Maintenance services providers do that for you at very reasonable rates to save your precious time and money.
It is time to say goodbye to home-repair checklists, brokers and local property dealers!
Get in touch with our property managers to get benefited.