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As a property manager, you have to manage routine tasks and staff members and adhere to local property management laws. Of course, the rental property management experts will reveal that you can always fall back upon legal advice to make sure you’re staying within the boundaries of the law.

However, read on to know more about the important considerations when you’re renting properties.

Renting Properties: 6 Do’s and Dont’s

Here we have 6 Do’s and Dont’s for homeowners and property managers to adhere to when renting out properties.

• Don’t: Make a stopover.

If you rent your property, remember that your tenants have a right to their privacy. So, never drop in unannounced. Rather, you should give advanced notice if you have to go over for repairs, inspection works, or maintenance jobs.

Do: Make use of mobile communication tools.

Because dropping in unexpectedly can disturb the occupants, you might want to consider using mobile communications tools (such as sending text messages or emails) to announce your arrival beforehand. By doing so, the residents remain informed and are better prepared.

• Don’t: Follow an irregular screening process.

The renowned rental property management companies adhere to a uniform screening process and avoid discrimination among applicants. Remember that discrimination based on gender, caste, color, among other considerations, is against the law.

Do: Conform to a consistent screening process.

Be consistent when it comes to screening applicants. A top-ranked property management company in Delhi endorses using technology to develop a standardized screening process to make things easier.

• Dont’s: Avoid raising rent charges midway

You’re breaking the law if you’re increasing the rental charges in the middle of the lease period. Only if you’re rendering additional services midway, you have the right to charge higher rent.

As per rental management laws, you can increase the property rental costs only during a new lease or lease renewal.

Do’s: Follow your lease terms.

As part of good rent management practice, both parties should stick to the lease terms. If any party is not adhering to the stipulated conditions, they are liable for punitive action.

• Don’t: Expel lessees to sell your property.

Property owners have the right to sell their homes only after the expiry of the rent period, not before that. A reputed property management company in Delhi NCR will suggest buying the renters out of the lease before the lease ends if you want to sell your property before the lease expiry date.

Do’s: Use online platforms to share information.

The benefits of using an online portal are manifold. Such platforms help to share maintenance updates, lease agreements, and property details.

• Don’t: Withhold the Certificate of Occupancy.

Under property maintenance services, you’re advised to produce a Certificate of Occupancy to the renters to confirm that you own the property. When you do so, you can assure the occupants of a safe dwelling place.

Do: Ensure your property conforms to the local codes

As part of property management services Gurgaon, property managers are required to adhere to all the local codes. These include inspecting the property periodically and executing the mandatory maintenance jobs.

With property management software, you can also check the completed jobs and pending works – all of which ease your workload.

• Don’t: Overcharge for a rental deposit.

Check whether you can overcharge the tenants, depending on where your property is located. In some cases, you cannot charge more than one month’s rent. Always comply with local rules to be on the safer side.

Do: Mention deposits in lease agreements.

To maintain full transparency between both parties, you must mention the rental deposit amount in the lease agreement. Renters are entitled to get back the deposit money when they’re moving out. In case of property damage, landlords can deduct the money from the deposit amount. Here, make sure that everything is in writing to protect everyone’s interests.

About LuXia LLP

At LuXia, we understand how important it is to comply with property management laws. We adhere to the given rules to avoid penalties and other hassles. As a general rule, we ensure all involved parties study and follow the local laws.

More so, we are transparent in our dealings with our clients and follow a regular screening process. Also, we use advanced digital communication tools to keep all parties informed about the latest updates.

contact@theluxia.com |   +91 9810505543

If you’re looking to redo your home, you might want to consider adding the basic interior decorating elements. By doing so, you can make your home lively, inviting, and of course, beautiful.

All you have to do is play around with the following seven key home décor elements, and you can have a home that is in line with your sensibilities. Coming home after a long day at work can be so fulfilling, then.

7 Key elements of interior design

Here are the 7 basic elements of home interior design that require due consideration.

• Color

Depending on the energy that you want your abode to exude, you should choose your home colors. An interior designer in Delhi will suggest you consider your visual preferences also.

For an energetic feel, you can go with yellow for your homerooms. For all you hopeless romantics, red symbolizes passion and should be your color choice. Other than that, opt for whites and greens if you want a peaceful and soothing setting.

• Form

Among your home refurbishing plans, you have to decide on the furniture and art exhibits. Here, you can opt for organic forms or geometric designs.

In organic forms, the interior designers in Delhi will recommend taking your pick from natural, curvy designs. On the other hand, under geometric forms, your choices are among squares, triangles, and other sharp lines and edges.

• Light

The interior designing company in Delhi experts will reveal that lighting makes a world of a difference. Where your lighting choices are concerned, you can opt for natural lights, manmade ones, or a combination of both.

When making your selection of colors, you have to ponder over the light colors and the intensity of the different colors. Also, you have to decide whether you want dimmable lights or not.

• Line

The outline of your home rooms is among your other choices in home interior designs. You can choose between horizontal, vertical, and dynamic lines.

As far as horizontal lines (or side-by-side lines) go, you should know that they give a sense of security. Vertical lines (or up-and-down lines), on the other hand, represent boldness. However, if you’re a fun-loving person, dynamic lines should be your choice – they conform to their own rules.

• Pattern

Go with a single pattern to give your home an airy, buoyant feel. Apply your chosen pattern to your fabrics, lights, and wallpapers. Avoid multiple or clashing patterns, for they can make your head go round.

• Texture

Texture refers to how you feel when you touch or observe the items. While some surfaces look vintage, others have a weathered look.

As part of interior home design services, you have to decide the floor texture. Carefully consider your flooring texture decisions, for you spend a lot of time walking and sitting on your home floors. Go with comfortable floor designs to add to the coziness of your home.

• Space

Under interior design ideas, space has to be given its due importance. You can opt for either 2-D space designs or 3-D space ones. While 2-D space covers the room length and width, 3-D space encompasses height considerations.

When it comes to your rugs or carpets, 2-D space matters. On the flip side, when adding new shelves or home fixtures, you can go with 3-D space options.

In addition, make sure to leave enough space in the room to allow your mind to wander aimlessly when unwinding after a hard day at work.

About LuXia LLP

While interior decorating your home is one thing, managing your newly-furnished home is quite another. Now, if you want to tie up with a high-ranking property services company for the general upkeep of your property, simply call our experts.

Rely on us to manage your property while you can devote your time to other important family, business matters.

Whether you’re looking to rent a home or buy one, you must base your decisions on your needs. Of course, with property ownership, you can enjoy the benefits of capital appreciation over time. But, conversely, when it comes to renting a home, you have the flexibility of using a property as and when required.

Going by your financial position, you must opt to either buy a home or rent one.

Scroll down to know about the different factors to consider before deciding whether renting or buying is your best bet.

• Consider annual payments

Before buying a home, the average person considers all the related aspects. While purchasing a home is an emotional decision for some persons, others prefer buying property over renting for the convenience benefits.

However, the property maintenance experts opine being financially prudent. They recommended buying a home if that is more profitable for you. On the other hand, you might want to consider renting a house if doing so makes more economic sense.

An important aspect that requires consideration when deciding between buying or renting a home is to compare the annual expenses.

In the case of home purchases, you have to pay a mortgage. A mortgage has two components: interest and principal. Because the principal is part of your savings, you should not include this component when calculating your expenses.

A prominent property management company in Delhi NCR will suggest using the interest component for calculating your expenses. This is because interest comes under your expenses. For example, your costs for buying a home include insurance, maintenance costs, property taxes, and interest (after subtracting the tax shield).

As far as your expenses for renting a home go, your calculations are relatively simple. First, you have to pay a deposit to your landlord. Deposit is not an expense but an interest-free loan, for you get the money back after the stipulated rent duration.

Other than that, you have to pay monthly rent. Here, you may want to incorporate the opportunity cost of your down payment if you’re buying a home. As such, you would earn income on your down payment money if you were not purchasing a home. So, you must deduct this amount from your monthly rent charges.

Thus, you have to compare your annual expenses of renting a home or buying one beforehand to make an informed choice.

• Future annual costs

Buying or renting a home are not short-term decisions. Also, you have to be committed to your choices for many years. So, comparing annual figures for the current year is not sufficient. Instead, it would be best to study your future expenses and cash flow to get an accurate picture of your costs.

Now, the story gets complicated because you cannot judge your property capital appreciation over the years. Yes, supposedly, you alter your capital appreciation by even a small percentage. But, the net present value of your property can change by a considerable amount.

Predicting future property prices is not easy too. So, the property managers tell you to be wary of your future assumptions when calculating your future property expenses for a precise representation.

• Risk for appetite

When concerned with your rent vs. buy decisions, your risk appetite also matters. If you have a risk appetite, you may think of taking a mortgage. With a mortgage, your risk increases because of the interest that you’ve to cough up. In addition, your net worth can change significantly if you’ve taken a mortgage due to market fluctuations. The reason being, a mortgage is a highly leveraged bet.

The rental property management professionals will recommend renting a home on the flip side if you’re not much of a risk-taker. You can always change homes and neighborhoods if rent rates rise in a specific locality.

• Constancy Vs. Flexibility

While owning a home provides stability, renting a house offers flexibility benefits. As a homeowner, you do not have to move homes frequently. And if you’re looking to experiment with different apartment sizes and localities, renting seems a natural choice.

In all, given your requirements, you should decide whether to buy or rent a home.

About LuXia LLP – A Property Management Company

At LuXia, we manage properties of landowners who reside elsewhere. Approach us to know about your various options for renting a home. We are well-versed with the real estate market and can offer houses on rent at competitive rates. Be assured that we will provide you with the best options as per your budget and preferences.

Alternatively, if you’re a property owner looking for top-ranking property management services, you can contact us to know more about how we can help you get the best deals.

When you’re investing in real estate, you have to consider several factors because of the high costs involved. Yes, you have to research extensively to know whether the stipulated investment is worthwhile or not.

Of course, you can approach the property specialists, who conduct a detailed study to determine whether the investment is feasible or not. For this, the key performance indicators (KPIs) help them to gauge the value of the property investments. Now, real estate KPIs are financial measurements that take into account different metrics to predict property values.

Here, we have listed some KPIs that have come in handy for real estate investors and rental management companies. However, note that KPIs have their limitations because they are only estimates. So, they do not factor in abstract values that can influence the purchasing decisions of investors, including future market rates.

• Gross Operating Income (GOI)

GOI is the total expected income, which includes all expenses. This metric records the overall income that the property produces – with the inclusion of rent charges, parking rates, among other fees.

If you talk to the property maintenance company executives, they will clarify that the GOI metric gives a complete picture of how much money a property generates or its estimated monthly value. Also, being a hypothetical figure, the GOI does not encompass any unwarranted losses like vacancy.

• Occupancy Rate

The rent management specialists will always advise maximizing the occupancy rate of your property to minimize losses. This is because vacant properties do not generate any income, while you have to continue bearing the operating expenses.

No doubt, property owners try to attract tenants, though achieving a 100% occupancy rate is not always possible. To know more about the precise occupancy rate of a property, you should learn about its previous occupancy rate.

• Net Operating Income (NOI)

The NOI is calculated by eliminating the operating expenses from the GOI. The NOI provides a basic estimate of the profitability of the property. Management fees, maintenance charges, taxes, insurance, utilities, and vacancy rate – all are considered when calculating the NOI.

Even so, the NOI only displays the amount of surplus money that a property can generate every month. This metric does not factor in the initial investment expenses or one-time costs such as remodeling works and other interior designing Delhi costs.

• Capitalization Rate

The cap rate is calculated by dividing the NOI with the property’s prevailing market value. The residential property management agents will further explain that you can get an estimate of the basic property value via the cap rate.

Importantly, the cap rate is not derived after accounting for the initial investment costs, which may vary depending on agreement by parties and other market factors.

• Internal Rate of Return (IRR)

With the IRR, you can get an estimate of the ability of a property to earn profits.

The NRI property management experts recommend going for a property with a high IRR, for they are profitable investments. The IRR considers the property sale value, entire cash flow, and initial investment costs. As such, you get a clearer idea about how much income the property can generate over the long run. The IRR does not incorporate future investment figures and other influencers.

• Cash on Cash Return

Using the CCR, you can compare the initial property investment with the probable monthly income. To compute the CCR, you have to divide the projected property income by the total investment figure. In turn, you can know how much percentage of your investment you’re getting back on a monthly basis.

As always, the property registration Delhi professionals will ascertain that the CCR does not include any unforeseen costs.

• Return on Investment (ROI)

When computing the ROI of a property, you have to calculate the profits accrued and deduct the overall investment figure. More so, you must study the IRR and NOI, and you will know then how close your initial estimates are to real costs and profit.

• Loan to Value Ratio (LVR)

The LVR helps financial organizations to analyze the risk of loans. Now, when you’re taking a loan to invest in a property, the LVR metric helps lenders to better understand your financial position.

In the case of high-risk loans, you have to pay higher interest charges and extra fees – all of which increase your general investment costs.

OVERALL

As a property investor, you may want to rely on property management company experts for their guidance. The real estate professionals can reveal more about the related risks, budding opportunities, duration, and viability of the investments that you’re pondering over. In turn, you can evaluate all the important factors before making your purchasing decisions.

So, you’re a fan of modern home décor, and you’ve finally made up your mind to give a contemporary twist to your home. All the same, you need to ponder over the related aspects to make your home comfortable and lively. Yes, it would be best if you planned well.

Well, to make your space look its best, you may want your home to reflect your individualistic style too. In that case, you can contact the experts at the interior designing company in Delhi, for they have helped many people redo their homes as per their personal tastes.

Modern Home Décor Ideas

Refer to the following details to know more about how you can incorporate some basic modern home design ideas as part of the home renovation works.

• Keep it simple

Simplicity is one of the most important facets of a modern house. No, keeping it simple does not necessarily mean boring. Instead, simplicity is about keeping the décor stylish and lending a warm, welcoming feel. Geometric shapes, clean lines, and neutral lines are the different aspects of modern homes.

Also, the term simplicity does not imply only four walls and chairs. Rather, the interior designers in Delhi suggest focusing on de-cluttering your homerooms.

Clearing the clutter has several benefits, too. By keeping your space clutter-free, apart from finding our stuff easily, you can manage your stress levels as well. As such, some studies found that clutter adds to your stress levels. So, you’re healthier without the mess, and now, you’ve another good reason to start clearing up the unwanted stuff strewn around your home.

Also, the property services company specialists’ general recommendation is to keep your décor simple, for then the houses are easily maintainable when you’re away, and you’ve to rely on them for the maintenance jobs.

More so, you can expect higher rental values if you decorate your home minimalistically before letting it out.

• Make your rooms functional.

Under modern home interior design and simplicity, your focus should also be on making your home functional. In addition to the minimalistic aspects and clean lines of modern homes, the various items in the different rooms of contemporary settings should be easily accessible too.

Take the example of your kitchen room. Under modern kitchen design, your cooking spaces should be functional. Here, besides the appliances being easily accessible and within your reach, you must have a lot of workrooms as well.

• Streamline your technological gadgets

In modern homes, you must not only concentrate on filling your home with the latest gadgets. The idea is to streamline all your electronics as part of the modern living room setup.

In short, your widgets and gadgets must not overlap each other. As such, you must save space between your computers, television sets, and DVD players.

• Have open spaces

Open spaces also characterize modern homes. Of course, you cannot have open spaces in homes with closed rooms. However, you can make your room look spacious. You can do so by using furniture, fabrics, and color shades.

Further, you can have window covers with light colors and not dark shades. By doing so, you give an open and airy feel to your rooms, although they are not as spacious as you would want them to be.

• Add Character

By adding some character to your spaces, you can infuse life into them. So, play around with colors to have your rooms all lively, cheery, and upbeat. One good way to brighten your home is by adding a dash of color among all neutral shades. Surely, the same rule applies to your modern bathroom design arrangement.

Redo your home with modern home décor ideas today!

Refurbishing your home is not tedious if you plan thoroughly. So, take your time and envision the kind of home you want to create. Besides, share your ideas with contemporary interior design experts, offering you valuable suggestions.

Remember, colors have a crucial role in beautifying your homes, so choose the paint shades carefully. No doubt, you have a lot of options where you can explore with colors – to give your rooms a buoyant vibe, that is.  Only rely on the home design experts, for you can then realize your dream of a modern home – and professionally.

If you’re looking for the interior design of home options, you have a range of colors to choose from. Surely, you will agree that colors play an important role in our lives. Also, contrasting color shades add life to any room.

Besides selecting a color palette for your living and dining spaces, the property management consultants may also suggest splashing on the colors to your home office. Why not consider painting your ceilings with colors other than white, also?

Importantly, the Interior designing Delhi experts recommend following the color rules to make your room look balanced.

• The 60-30-10 rule

By following the 60-30-10 rule, you’re ensuring that your room has a balanced color palette. Also, interior designers use this rule as part of their home décor ideas.

Under this rule, you have to choose 3 colors and follow them using them in percentages of 60, 30, and 10.

So, the first step is to finalize the main shades that will cover 60% of your room. The interior design company in Delhi opines that neutral colors are mostly the dominant shades in rooms, for they offer a subdued feel without getting you all overwhelmed.

The second step is to select a slightly bold color for your secondary hue; these shades constitute 30% of the space.

Opt for a bold shade for accentuation purposes; this takes up 10 percent of the space.

For instance, under beautiful interior design for homes, you can have greige color dominating your room, with your walls and sofas displaying this shade. Subsequently, you can have black as the secondary shade, where your side table, bookcase, dining chair, and pillow contain black shades. Finally, you can go with coral as your accent color while you have your potted plants and throw pillows exhibiting the color.

• All about warm and cool colors

Some colors are considered warm colors on the color wheel, while the others are cool ones.

As per convention, shades such as yellow, orange, and red are categorized under warm colors because of their vibrancy. Among the warm shades, neutral hues like tan and brown are also included.

On the other hand, colors such as purple, green, gray, and blue are cool colors.

Going by choice of warm or cool colors, you can determine the room’s energy.

Warm colors can enrich the mood and have a welcoming feel. The general recommendation by the property management company in Delhi NCR specialists is to choose such shades to decorate only entertaining arenas. As such, you can use such hues to paint the walls of your kitchen or dining room.

Conversely, for a subdued look and feel, you can have cool colors on your offices and bedrooms; they are favored by many for their calming effect.

• Color schemes

Under color schemes, you can either opt for the complementary color scheme or the analogous color scheme.

• Complementary color scheme

As part of this scheme, you require two shades that sit on opposite ends of the color wheel. Among your choices, you have the colors red and green, yellow and purple, or blue and orange.

• Analogous Color Scheme

Under the analogous color scheme, you must first select a central color. Follow by using the colors that come on both sides of the given shade on the color wheel. Here, you will have two primary colors, whereas the third shade will blend the two.

Your choices include color combinations such as red, purple, and blue or red, orange, and yellow.

Because you’re using three colors, you need to enforce the 60-30-10 rule – to give the space a balanced appearance, that is.

For variety, you also can use different shades of one particular color.

Further, if you prefer neutral shades to vibrant ones, you have a monochromatic color scheme. Under the analogous color scheme, you can use three neutral hues like gray, white, and black; they offer a contemporary look and feel.

ACROSS THE BOARD

You will surely agree that we prefer some colors over others on a concluding note, right? While some people are fans of neutral colors, others prefer loud ruby shades for a dash of drama. More so, green has a relaxing, so they paint their walls with color contrasts containing green.

Now, depending on your color choices, you can choose to interior decorate your home.

However, the NRI property management companies will always advise you to use colors in the right proportions to work harmoniously.

As a landlord, you know that different tenants vary in their housing requirements, including their interior design choices.

Now, the terms rent and lease are used interchangeably. However, leasing a property is not the same as renting a home. Of course, the lease rent meaning includes renting accommodation. On the other hand, rental agreements are categorized further into lease contracts and leave & licensed ones. No doubt, the terms and conditions of the lease agreements and leave & licensed ones differ in various aspects.

Yes, both terms refer to two different kinds of arrangements. Of course, both lease agreements and rental ones are legally binding. Even so, if you talk to companies offering property maintenance services, they will tell you they serve different purposes.

Now, depending on your requirements, you should opt either for the rental agreements or lease one. Even so, you must first understand the difference between lease and tenancy.

What is a lease agreement?

The definition of a lease is defined under Section 105 of the Transfer of Property Act 1882. Under this Section, the rent management professionals will disclose that the lessee has rights to enjoy a property for an agreed-upon price, or something of value, paid periodically. Also, the lessee has to pay the landlord as per the terms of the contract.

Rent agreements qualify as leases if they fulfill the below-listed conditions.

• The landlord transfers the rights to use a property to the tenant.
• The arrangement is valid for a stipulated duration or perpetually.
• The tenant must pay the landlord monthly in exchange for the transfer of rights to enjoy the property. Instead of cash, both parties can also agree to the tenant paying via rendering a service or anything that holds value.

Under lease agreements, landlords agree to let out their property for a long duration; the time ranges from 3 years and goes up to eternity.

The rental property management experts will also reveal that a lease agreement must be signed and stamped, and registered. After registration, terminating lease agreements is not easy.

What is a rent agreement?

Rent agreements with a validity of 11 months come under leave & license contracts. Also, upon consulting the rental management specialists, you will know that such agreements are not valid under the rent control laws.

Different states vary in rent control laws; only rent agreements with a minimum of 1-year validity come under the purview of such laws.

The Property management company in Delhi will also explain that owing to the rent control laws. Landlords may not find it easy to review rents and remove tenants.

Key Differences between lease and rent

Here we discuss the lease vs. rent house agreements.

• Parties

The parties in lease agreements are the lessee and lessor. Landlords and tenants are the concerned parties in rental contracts.

• Type of Contract

As seen earlier, rent agreements can be either a lease or a leave & license contract. Nonetheless, rent agreements come under leave & licensing arrangements and not lease ones.

• Ownership

Whereas lease agreements give ownership rights to the lessor, rental agreements retain the ownership rights with the landlord.

• Responsibility for maintenance works

Under lease agreements, the lessee holds the responsibility of maintaining the property. The tenant is responsible for the property maintenance works in rent-based contracts.

• Time

Lease agreements have a long duration, rent agreements, short periods.

What is a leave & license agreement?

The leave & license agreements are detailed under Section 52 of the Indian Easements Act 1882. The Property management services Gurgaon companies will further clarify that under leave & license agreements, the owner has legal possession of the property. Simultaneously, the licensee is allowed to use the premises for specific purposes.

To avoid legal hassles, most landlords and tenants enter into rent agreements valid for 11 months. An 11-month rent agreement, working as a leave and license contract, is not reasonable under the rent control laws. The laws apply only if the rental period is more than a year.

OVERALL

So, we have seen how rent and lease agreements vary. A property management company in Delhi NCR will recommend going by your needs when you’ve to choose between both options.

If you’re looking to rent a home for a short duration, you may want to consider the rent agreement option. Here, besides greater freedom, you can also terminate the contract whenever you want.

According to the companies providing NRI rental property management services, lease agreements are more common in the commercial real estate sector, where the process is more formalized.

contact@theluxia.com |   +91 9810505543

With India boasting of rich cultural heritage, you have a wide variety of options in home décor projects when going for an Indian-based theme in a modern setting. Yes, you can design your personal space to reflect the glory of India’s glorious past in combination with contemporary designs.

In today’s times, innovative home interior decoration ideas are also seen as an effective way to increase your home’s rental values – as per the rental management specialists, that is.

So, here is your interior designing checklist when planning to merge traditionally-Indian designs with their modern counterparts.

• Add the spiritual touch.

Because most Indians are spiritual, you may want to consider redecorating your home with artifacts representing your beliefs. Ranging from busts to photographs to sculptures to photos to backlit lamination on your walls, you can take your pick from the different choices.

Here, opting for a puja house in one of your home corners is also an excellent example of modern Indian interior design.

• Go Minimalistic

Refurbishing homes with elegant furniture was one of the popular interior design ideas in yore days. Even so, nowadays, many people are going the minimalistic way. The idea is to get rid of the clutter and enjoy a more open space.

One of the popular aspects of Indian contemporary home interiors is doing away with the unwanted stuff. By doing so, your room will look spacious and seem more welcoming when you return from a tiring day of work.

• Play with colors

Because Indians love color, your Indian home has to be colorful too. The general recommendation is to opt for two contemporary colors for each room. Your property maintenance services manager will opine the popular color combinations include a mix of pink and purple tones or yellow and orange hues.

Also, you must avoid mixing loud colors such as yellow and pink or green and blue. Instead, mix and match jarring colors with neutral ones (such as grey, white, cream, or black) to strike the right chord.

• Keep it distinctive

To add your personalized touch to your abode, a prominent property management company in Delhi NCR might suggest adding some unique items that you’ve gathered during your travels across India as well. As such, you can choose metal busts of a deity that you worship or engraved metal lamps from different Indian districts.

Pasting Gondi art details on your walls is another way of uplifting your home’s desi look. Gondi, a conventional tribal art, entails colorful themes with intricate details. Apart from Gondi’s works, you can keep things interestingly Indian with other tribal skills such as Warli and Madhubani.

• Maintain the rustic quality

To keep things rustic to portray your home’s Indian-ness, you must choose not only earthy fabrics but also rustic textiles. For the same, placing a woven rug in your living room is a good suggestion.

Hanging jute-based animal heads on your room walls are other woven features to decorate your home with. Other than that, you can renovate your windows with pastoral woven blinds.

Another proposal by the rental property management professionals to keep things colorful and rustic is to have colorfully-patterned cushions composed of rustic materials (such as wool and cotton).

• Make way for the four-poster

Ancient Indian beds would have frames supported by four posters; these features come in handy for hanging mosquito nets. Of course, with the rapid progress of technology, such aspects are not seen anymore.

So, why not return to the ways of your grandparents by installing a four-poster bed in your bedroom. Only make sure that you also enhance the bed’s look with linens, sheers, and ruffles.

Contact the home décor experts to add both the Indian and modern touch to your home!

In addition to the above-listed pointers, you can combine Indian-made handicrafts with contemporary items in your abode too. Indian furniture, including Indian rosewood, is hailed for its rustic look and robustness. So, for that eclectic blend of traditional and contemporary designs, go with handmade Indian furniture with a modern outline.

Some NRI property management services personnel may also advise giving an exciting twist with compact furniture and revolutionary lights when redoing your contemporary home the Indian way.

Contact our property managers

contact@theluxia.com |   +91 9810505543

As a landlord, you have to maintain your rental property to generate revenue. For the same, you have two choices. First, you manage all the nitty-gritty stuff by yourself. Second, you can outsource the related jobs to a property services company.

Moving on, here we have listed the three strategies for your rental property management needs. We will study the three areas under rental property management before that.

Three areas of rental property management

Before selecting a suitable rental management strategy, you must know the various rental property management areas.

• Dealing with your tenants

Apart from rent collection, your landlord’s responsibilities include addressing tenant complaints, ascertaining the lease agreements are up-to-date, and checking for any damage after tenants move out.

Aside from that, landlords have also to screen prospective tenants while studying their background.

• Handling the Property Maintenance Works

As part of a landlord’s property maintenance duties, they must maintain the building’s physical structure and ensure that the conditions are habitable for their tenants.

So, when it comes to keeping the premises clean and repairing any leaks and faulty locks, or giving access to the mandatory utilities, landlords have to be in charge.

Also, you have to manage the inspections from your insurance company, lenders, and government bodies. They conduct inspections to ensure that the health and safety codes are being duly followed.

However, you must also think of hiring the services of an interior designing company in Delhi for the home decor needs of your rental properties – to shore up the rental values, that is.

• Finance Management

Managing finances is also an essential responsibility of landlords. As such, they should calculate their monthly income and expenditure.

Under the financial management of rental properties, landlords must record rent payments, insurance charges, taxes, mortgages, and property fees.

3 Strategies for managing your rental property

After understanding the different areas that come under rental property management, we move to your options on managing the various functions.

• Adopt the Do-It-Yourself Approach

If you’re opting for the DIY rental property management model, the entire responsibility falls upon you. Whether collecting rent or filing taxes to maintaining your property, you are accountable for them all.

The pros of the DIY approach are that you’re totally in control and aware of all the related aspects of your property.

The cons of this model are that you’re likely to get overwhelmed with the sheer amount of paperwork required.

So, unless you have previous experience managing rentals, the general recommendation is to work with a reputed rental management services company.

• Combination of Do-It-Yourself and Outsourcing

Under this approach, you can manage the tasks you’re well-equipped in and outsource the jobs you’re not qualified for to a Delhi property management company.

A good strategy is to outsource the legal matters and maintenance works to the professionals. On the other hand, you can manage your rental property’s finances and tend to your tenant issues, for such matters are relatively easy to handle.

Plus, you can outsource the home remodeling jobs to reputed interior Designers in Delhi to win compliments from all quarters.

• Outsource all the responsibilities

Suppose you’re not comfortable managing your rental property and want to invest your efforts only in selecting properties and other investments. In that case, your best option is to hire a property manager or contact the property management services Gurgaon.

The property management specialists are fully-equipped to manage your rental property. Ranging from undertaking the repairs to collecting rent to screening tenants, they can deliver handsomely.

This approach is suitable for landlords who live away from their rental properties or own many rental properties. More so, if you’re a property investor who has a diversified investment portfolio, you can avail this option.

Contact the property management experts today!

So, we have seen that landlords who cannot manage their rental properties can hire property management consultants’ services.

Now, if you’re looking to outsource your rental property management responsibilities, you can contact the renowned NRI property management services companies. Having the support of experienced property managers, property management companies can reduce your workload significantly. Besides, you can avail some attractive deals if you own several rental properties.

More importantly, you must ensure to screen the property managers before you hire their services, for the saying ‘better safe than sorry holds.

Contact us for property management.

contact@theluxia.com |   +91 9810505543

Landlord-tenant laws are framed to serve the interests of both parties. Of course, different states and countries have varying rules, but landlords have some essential duties even then. Your rental property management team will update you on the same. Among your landlord duties, you have to maintain and handle the repairs of their rented properties.

However, here we have listed some general duties and responsibilities of landlords.

• Invest in landlord insurance

Any renowned property management company in Delhi NCR will advise landlords to first opt for sufficient landlord insurance. By doing so, you can protect your rented property and ensure your financial wellbeing.

As part of landlord insurance benefits, you can claim lost rental income owing to renovation works and other damages. The equipment you keep on your property for the maintenance works is covered from damages under landlord insurance.

• Mold Treatment

Your rental management services company will tell you to get rid of mold on your rental property beforehand. Moreover, because mold grows because of pipe or drainage damage, landlords should make sure to undertake the necessary repair works to prevent decay from growing again anytime soon.

• Repairing Works

By opting for timely repairs, you can maintain your rental property efficiently. So, if your tenant is complaining of paints peeling or clogged drains or the air conditioner breaking down, you must call the repairmen immediately. You can then shore up your rental values and maintain a healthy relationship with your tenants.

If you’ve not remodeled your rental property for a long time, you should think of contacting interior designing Delhi experts for the refurbishing jobs. Here again, you stand to benefit from higher rents.

• Smoke Detectors

An essential responsibility of landlords is to install smoke detectors in the houses they let out. In general, as per state laws, landlords are required to invest in smoke detectors.

Now, if you’ve already mounted smoke detecting devices on your rental property, you have also to make sure they are in working condition before your new tenants move in.

• Suitable living conditions

Another responsibility that falls upon landlords’ shoulders is to fix any issues that can cause potential harm to their tenants, as per the rent management system. As such, you have to maintain your rented property in a habitable condition. That said, you must check if your tenants have access to water and electricity.

• Right to Entry

When landlords and tenants sign a rental agreement, the latter is given their right to privacy. This means landlords have to consent from the tenants before entering the homes.

Under rental property management contracts, landlords can only enter the premises for repair work. Or, they can take prior consent to show the property to prospective tenants. More so, they are allowed to enter in emergencies such as fire or natural calamity.

• Security Deposit

Before moving into the rented homes, tenants have to furnish a security deposit, one or two times the monthly rent charges. The landlord has the right to keep the security deposit until the rent period expiry to cover any damages.

If landlords find damage to the property not arisen due to general wear and tear, they can use the repairs’ security deposit money.

• Non-Renewal Intimation

In some cases, landlords might not want to renew their rental agreements with their tenants after the stipulated duration. Here, the landlords have to serve a notice of non-renewal to the tenants. Commonly, the landlords should intimate the tenants 60 days before the rental contract expiry.

• Maintenance Works

Landlords can delegate the responsibility of lawn-care maintenance to the tenants. Even so, the lease agreement should include such a clause if that is the case. Else, the landlord is required for the lawn maintenance jobs.

Other than that, landlords have to burden the responsibility of removing or clearing snow from the pathways if they’re renting a property in places having cold weather.

FINAL THOUGHTS

To be on the safer side, you must discharge your landlord duties as required by the law. Nonetheless, if you’re opting for NRI property management services, you can leave property maintenance tasks and other responsibilities to their experts and breathe easy.

Contact our property managers for more information on rental property management.

contact@theluxia.com |   +91 9810505543