Tag property management for nri

Overview of Property Management Case Study

This post highlights the problems and our property maintenance and rental income generation solutions for one of our NRI client.

About the Client

The NRI client lives in New Zealand and has a property in Gurgaon – India. Since he lives away from his property, therefore, it became next to impossible for him to travel to India frequently to address the property concerns. Hence, the client decided to hire a property maintenance and rent management company in Gurgaon to fulfill his requirements.

Property: the client owns a Penthouse of 5400 Sq ft with 4 Bedrooms on a top floor in one of the posh locations of Gurgaon.

Problems Faced by the New Zealand Client

The client bought the property 10 years back from now. And at the time of purchase he invested a generous amount of INR 30 lakhs on the renovation and upkeep of the house. The client equipped the house with latest and superlative amenities, appliances and furniture. So that whenever he and his family came to India, they’d be comfortable in their stay.

The maintenance of the house was given to a local person/acquaintance, who was supposed to take care of the property while the owners were abroad.

Unfortunately, the person in-charge for maintenance only did cleaning ignoring all the concerned tasks of property maintenance. This resulted in poor condition of the fittings, appliances, furniture etc in the penthouse.

And when the client decided to generate some rental income from the property, it was not in the shape to hire tenants. This came as a shock to the client who was trusting the local acquaintance and was hoping to save some rental income for his future plans.

House Condition when the client contacted LuXia’s property managers

When Luxia was given the charge of the house for maintenance, our property managers found the house in a very poor condition.

Bathroom fitting were rusted and old , rubber was falling off from the window blinds, Jacuzzi was not working , A/Cs were not working or cooling. Additionally, the kitchen appliances like chimney, hub, oven etc were also not functioning properly.

All in all the house was not maintained per the standards it should have been over the years.

LuXia’s Solutions for Property Maintenance and Rental Income generation

Property Maintenance

Just as the client hired us for using our property management services for NRI, our team was on it for the maintenance tasks. With our expert in-house professionals like carpenter, plumbers, electricians, appliance technicians (for washing machine, dryer , chimney/hob  etc)  we got everything rectified and thoroughly cleaned.

Our team ensured that the maintenance work was done at economic prices, that too well within the pre-committed timeline.

With our maintenance team’s efforts the house was completely transformed from an unused, unkept house; to a modern luxurious apartment.

We gave a live tour of the house to the NRI owner over video conference. And, he was pleasantly surprised with the transformed look of his house. He was very happy that he did not have to spend on the travel expense to maintain his property in India.

Assured Renting

Now, since the house is very well maintained, so now is the time for the house to earn money from a previous dead investment of 10 years.

Therefore, LuXia engaged with top corporate companies and established verified professionals to get our New Zealand client suitable tenant.

From the various prospect tenants, we screened the details of a corporate client who wanted to use this penthouse as their company guesthouse.

LuXia got the deal finalized between the client and the corporate client with a handsome rental of INR 80,000. Our property management company handled all the verification and documentations before handing the keys to the tenant.

This is how we helped our NRI client with our property maintenance services and rent management services to generate a high return on investment.

Get in touch

Gain benefits, and save your time and money by hiring our residential property management services. All you need to do is get in touch with our NRI property management company in Delhi NCR and we’ll take care of all your property requirements.

contact@theluxia.com |   +91 9810505543

Overview

The case study details the problems and our solutions for a NRI customer of LuXia LLC. It shares what services the client used and how we helped the client to save money and time.

Customer Details

The client is based in Australia and has a property in Gurgaon (Delhi, India). For this reason, the client has a limitation of not being able to travel to India frequently to fulfill the the various needs of his property. As this would cost him quite a lot in terms of money and time.

Property : the client has a 1900 sq ft  3 BHK  Apartment with Gurgaon’s top builder.

Client’s Requirements

The client was looking for a NRI property management company in Delhi NCR – India to cater to his end-to-end property management requirements. He was facing issues with the builder he had booked his property. Hence, needed experienced property managers who could handle the legal matters, interior designing, rent management and overall property maintenance; so that he does not have to fly to India to get it sorted.

He needed the results to be fast as he was losing the money he invested since the property builder was delaying the possession. And he was not able to get the expected returns on investment by starting with the rent cycle.

Here’s what he needed from a NRI property management firm in India.

Pre-possession requirements:

• The client wanted the property managers to fastrack his property’s possession since the time promised by the builder had already surpassed. And the builder was not honouring his commitment.
• To get the registration done for his property without having to travel to India.

Post-possession requirements:

• To get the interior designing done of the property.
• To find a tenant and get the property on rent so that the property is able to generate rental income for the client.

How LuXia’s Gurgaon team helped the client

Pre-possession and registration of the property without the need of the NRI owner to travel to India

LuXia saved the time, effort and money of our Australian client by managing their property from end-to-end, and also handling their legal matters. We further benefited our client by giving them complete assurance of his property management which gave him peace of mind .

The client did not have to travel to India to get the matters sorted as LuXia’s team was on ground on their behalf, completing all that was required from the client.

Just as the client got in touch with LuXia’s property managers in Gurgaon for the pre-possession requirements, our team was on toes to help the client. Our in-house legal team worked with the builder to get the possession of the property, without having to call the NRI owner from Australia.

Along with this, team LuXia also got the registration done of the client’s property without the client having to travel to India which normally can be quite challenging for an NRI.

LuXia saved multiple trips of the client to India which could have costed him quite big in terms of his valuable time and money to get this resolved. Our property managers in Gurgaon made the possession and registration process seamless and efficient for the client.

Interior Designing

After the registration of the property, the client wanted to get the interior designing done so that he is able to generate rental income.

Hence, LuXia’s in-house interior team got elegant designing done of the complete house right from living room, to bedroom, kitchen, bathroom etc. Our interior designers maintained the aesthetics and functionality of the house just as our client’s demand.

Tenant Screening & Rent Management

Finally, LuXia started with the marketing of the property through various channels to find an appropriate tenant for the client’s property. From the multiple tenant applications, LuXia chose the one suitable tenant after careful screening.

Our NRI property management team also took care of the police verification of the tenant which is a mandate before keeping a tenant in India. We also shared the real-time online portal for landlords with our client so that he can keep a track of the monthly rent and other important information related to the property.

LuXia’s value-added services that made our NRI client smile!

• Guaranteed Assurance – all our rental management services come with an assurance of maximum Return of Investment and peace of mind.
• Dedicated Property Manager – the client got personal attention by a single point of contact for all their property related concerns.
• Law & Regulations Compliant Rental Property – we made sure that landlords property is compliant with the property laws and landlord tenant laws in India.

Get in touch

You too can save a lot of your time and money and get high Return on Investment (ROI) on your property. All you need to do is get in touch with our NRI property management company in Delhi NCR and we’ll handle all your property requirements.

contact@theluxia.com |   +91 9810505543

The property owners are perplexed between managing their rental property on their own or hiring a property manager for the management.

However, some home-owners can manage the rental property for a single family on their own. But, NRI property owners are best advised to use professional property management services for better ROI.

While property management through professionals can be beneficial to all, but here are some notable benefits for NRI property owners.

Time Saving for NRI homeowners

Non-Resident Indian (NRI) property owners may face extreme difficulty when they try to manage the property on their own. Additionally, they may even incur heavy loss in terms of cost if even a small thing goes wrong.

It becomes almost impossible and expensive for the NRI homeowners to travel every now and then to manage their property in India. Hence, the best and worthwhile solution is to hire a property management company in India and leave all the registration (pre and post), interior designing, tenant acquisition and property management bothers to them.

As they say, “Time is money!”, so, as NRI landlords can save a lot of their valuable time, they can use it to add value to their more important and regular tasks.

Improved ROI for NRIs

The main reason for NRIs to rent their property in India is to keep the cash flow going and make some extra money for investment, or retirement savings or to cover mortgage cost.

Hence, the NRI property owners look forward to an increased return of interest for their property in India. And the most promising way is to reach out to a property management company in India and let the professionals make way for better results for you.

Since one of the tasks of property managers is to maintain your property in the best health, hence you shake hands with a lot of benefits including:

• The improved ROI path starts right from the travel cost. Since the property managers manage their property in India, hence the NRI owners incur no/minimum travel cost. So, low expense, more ROI.
• The property managers make regular timely visits to the rental property to check the overall health of the rental and to inspect the overall functionality of the tenants. Therefore, even if the tenant fails to notify of any damage in the property the property manager assigned to your property can easily locate it early and fix it without further damage at a competitive price.
• Since a property management company has either in house maintenance staff or has contacts with local vendors with whom they regular work. So, the cost at which a professional management company fixes the damages is quite low in comparison to price quoted by direct vendor.
• After you have finalized a property management company in Delhi, the vacancy period for your rental property gets very low. This means regular rental income without any monthly loss. This is because the property management companies acquire tenants only after careful screening process.
• A property management company like LuXia LLP, has a real-time online portal for landlords. This way the NRI landlords can log in to their account and track all the maintenance logs, rent receipts and other important documents from anyplace with an active internet connection.

All the above benefits collectively add up to increase the ROI of the rental property for NRI homeowners who have their rental property in India.

Better implementation of landlord-tenant jurisdiction

One lawsuit against NRI landlords can wipe off the profits they made in years. Hence the understanding of the landlord-tenant laws as per the governing jurisdiction is crucial.

If out of convenience or trust issues an NRI landlord decides to let their friend or relative manage their property in India, then it can hurt them badly in numerous ways.

For instance, vacancy for a long time, misleading information about rent, maintenance mishaps and most importantly loss of money when a tenant files a false lawsuit against the landlord and due to initial negligence or ignorance the NRI landlord has to bear heavy loss.

Since, property management companies in Delhi NCR have a better understanding of tenant-landlord laws as they have been managing the rental properties for several years, therefore the property managers can help you save from false lawsuits by tenants. Thereby saving your precious time and money.

Bottom-line

Renting a house through a property management company is an excellent choice for NRI property owners who are looking to put their property on rent. It not only saves you time and money but also increases your ROI.

Get in touch with our property management company in Delhi to manage your rental property.

contact@theluxia.com |   +91 9810505543