Tag need of property management

Benefits of property management

The benefits of hiring property maintenance services providers are manifold. First, because property managers add value to your rental property investments, many veteran property investors suggest working with them.

Let us now study the various benefits landlords can enjoy while choosing to go with rental management companies.

  • Trustworthy tenants

With a property management company, you can be assured of the quality of tenants. A property management company in Delhi NCR follows a reliable verification process that helps to sift out tenants who pay rent on time and rent out for the long term.

  • Avoid legal hassles

By working with the top-ranking rental property management companies, you can avoid legal headaches, which is the case if you have bad tenants. The best property managers are well-versed with the property laws and can protect you from getting entangled in legal disagreements in cases of bad tenants.

  • Lower Maintenance Charges

If you work with a property management services Gurgaon company, you can use the firm’s in-house maintenance workforce for the general upkeep of your property. In turn, you save money that otherwise you would end up spending on hiring an external maintenance team.

  • Assured Rent Collection

Another benefit of working with a property management company is that you need not worry about rent management and collection. The property managers have you fully covered with the power to apply lease policies in cases of difficult tenants.

  • Retain the value of your property

A well-established rental property management company helps to maintain the value of your property, too. Property managers have several years of expertise and can help in detecting maintenance problems during the early stages.

Now, by conducting the mandatory repair works on time, you prevent the issues from worsening. In the process, you save expenses of more extensive and costlier repair works that you otherwise would need to complete at a later stage.

Preventive maintenance is key to maintaining and raising your property value when you rent your property. As part of preventive maintenance services, property managers carry out maintenance checks and inspections regularly and report efficiently.

The best NRI property management companies also provide valuable suggestions on whether you should opt for upgrades or modifications to increase your potential rental values.

  • Representative for tenants

As a landlord, you do not want to deal with tenant issues. Here, you have to appoint the property management company in Delhi to deal with any tenant issues on your behalf.

Besides handling tenant complaints, property managers give detailed reports to the landlords. As a result, you do not have to get directly involved in the process and can get more free time to devote to other, more important matters.

  • Reduce tenant turnover

One of the advantages of property management services also lies in the fact that property management companies can help in reducing the tenant turnover rate. Tenants may also be willing to pay higher rent (if the landlord demands) if they are sure of the quality of services.

About LuXia LLP

We at LuXia have been managing properties of NRI and other clients for several years now. So, if you want to save yourself the trouble of scouting high-quality tenants and property maintenance jobs, only approach us.

We have a reliable screening process to get you good tenants who do not cause much wear and tear to your property or pose undue problems.

Contact us today to know about our best property management deals!

contact@theluxia.com |   +91 9810505543

The three scenarios deciding the need of property management services

As owners of rental properties you must be well aware of the fact that renting out real estate properties takes a lot of time. Particularly, if you have multiple properties then managing the tenants, rent cycle, maintenance etc. can be a tad overwhelming.

Although many landlords may start with managing their property on their own or by an employee or through a relative or friend. But, eventually, the whole process and the tenant concerns, get exhausting and baffling. The property management is even more strenuous when you have other important tasks to handle rather than managing your property. Or, when your property is in a different country or a different city.

So what does a Property Manager do exactly?

A Property Management Company maintains and manages your rental property end-to-end.

The property managers will work directly with your prospects and tenants, so as to save your time and worry over managing your rental.

Property management services include:

  • marketing your rentals,
  • tenant screening
  • complete legal documentation
  • rent collection
  • handling maintenance and repair issues,
  • responding to tenant complaints, and
  • tenant eviction

Moreover, a good property management company will bring along its know-how and experience to your property, thereby giving you the peace of mind that only comes when you know your investment/property is in good hands.

Finally, a property management company is an independent contractor. Therefore, you pass the troubles and perplexities of being an employer.

The three scenarios which define your need of a property manager

Below are the three scenarios which briefs some of the common situations. You can place yourself in either of the scenario to learn whether or not you need property management services.

Scenario 1 – When you definitely need a property manager

  • If you are an expat or a Non Resident Indian (NRI) and you have your rental property in your home country, then it is definitely important for you to hire a good property management company.
  • If you have multiple properties to manage, maintain and rent out. Because then you’d need a professional company who would manage your rental without any hassle.
  • When you do not have enough time on your hands to handle tenant concerns, rent management etc.

Scenario 2 – When you should consider hiring a property management company

  • If you expect to earn good returns from your real estate portfolio then using property management services is a good idea.
  • If you wish to increase your property value over time then a property manager can help you with this.
  • Also, if you are keen to save some extra money by spending less on repairs and maintenance work then hire a property manager. Since, they have contacts with local vendors, they can get the repair work done in comparatively lesser price.

Scenario 3 – When you don’t need a property manager

  • If you enjoy being a landlord and you have the time to manage your rental property efficiently.
  • If managing properties is your passion, and you have a hard time trusting third parties, then you should manage them directly.
  • And, if your property is located close to your current location then it makes sense if you’d like to manage your property all by yourself.

A property manager would still assist in your objective and remove all complexities of dealing with the tenants and managing your property. Basically, the choice is yours.

About LuXia LLP

LuXia LLP is a property management company in India dedicated to serve the NRI landlords and homeowners who live away from their rental property.

Get in touch with us to increase your property value and find the right tenant for your property.

contact@theluxia.com |   +91 9810505543