Property management services represent a proactive oversight, monitoring, and improving practices of someone’s residential, commercial, or industrial real-estate. The one who does it is called a property manager. He takes all responsibilities to repair, maintain, secure, and upkeep the physical properties professionally. Such professionals work under property dealers, investors, builders, and housing development companies and agents. So basically, they manage these tasks regularly for the owners while preserving the value of the properties and generating rental incomes.
Owners or landlords find out property management companies for a number of reasons. Some of them may have multiple properties to rent them out. They may not have any time or expertise to do so professionally and deal with individual tenants. Perhaps, their interest is in owning properties for generating rental income. Their inability pushes them to hire professional property managers.
There is another case of absent landlords who look for property management services. Fortunately, there are a few genuine property management companies that cater them who rent out a single property, such as a vacation home.
Consider the case of immigrants. They go out of the country while leaving their properties behind. There are millions of immigrants from India whose NRI property management services are in the hands of these professionals who run affordable housing programs, covering screening potential tenants, drafting, signing, and renewing leases on behalf of NRIs, collecting rent, maintaining properties, arranging for necessary repairs to properties, setting up and sticking to budgets for property maintenance. These services are regulated by the law and guidelines specified by experts.
There are certain real-estate agents who also appear in the role of property managers. For example, a broker in a town may come with buying and selling services as well as property management services. In this case, the real estate broker lists, shows, leases, and maintains rentals for a number of property owners.
All of these services providing companies or agents need a licence, which regulates this practice in any country. It is for governing the local landlord-tenant laws and regulations by the government. Their requirements differ as per country or place. Most of the countries provide this licencing authority to the local real estate board or government. Therefore, the property owners should ensure that, whoever they prefer, it should be properly licensed.
The owners pay out some amount to property managers as a fee or a percentage of the generated rental income from the property while managing it. This is how the professional managers of property skillfully make it repaired to keep it in a proper shape, manage lease, rent collection, and even, bargain the rental amount as the estate market owner, and address the complaints of tenants. If required, they evict them forcefully or lawfully. In return, they get the commission or percentage from the rental income. This is how the property management services go on.
Buying/Selling Property is always a big deal, especially when it's your first purchase/sale. While people involved will say that all documents are in order, it’s always a better idea to have them cross-checked, when big numbers are at stake. Being over cautiousness is a sign of prudence.
We at S2NRI will physically check your property and verify if it really exists, names mentioned in Local Registrar office matches your information, geo-tag the property with GPS location, take actual pictures, all your property paper work to be evaluated with a reputed lawyer, get encumbrance certificate to know about dealings in the said property, assist you in drafting a sale deed that takes care of your interest prior to registration, inform you about stamp duty liability and registration fees, our relationship manager will be physically with you or your Power of Attorney holder. Basically we do all the running around and try to reduce your anxiety/stress. Once registration is done, we will assist you in getting your encumbrance/ khata/ patta or 7/12 Certificate as applicable. Legal and other incidental fees for procurement of documents shall be extra.
Once you have property, it has to be looked after. NRI’s either do not have time nor do such petty issues be occupying your time while you come to India on holidays. S2NRI will take care of your need to procure Encumbrance/Khata/Patta and 7/12 Certificate. Just let us know what exactly you are looking for, and we will procure it for you from the Local Registrar's office. The charges are per certificate.
Have you rented a property, need someone to manage it, S2NRI can assist you. We will supervise your tenant and collect your rent, thereby offering reasonable protection to your property. Ideally, a landlord must find time once in a while to visit the property, however where it's not feasible/possible it must be entrusted to experts. Tenants must be subtly reminded once in a while that ownership of property vests with Landlord ONLY. S2NRI will inspect your property before rental/lease agreement is signed, take pictures/video and make an inventory checklist of all the furniture/lightings/electronic items, etc. available in the property. S2NRI can also assist in drafting a rental/lease agreement which we provide as a separate service as well. S2NRI relationship executive will coordinate with your tenant, inspect the property, and send you a picture/video in the form of a simple report. S2NRI will also do rent collection and deposit in the client bank account, based on your standing instructions. When the tenant is vacating the premises, a thorough Exit Inventory Check will be conducted to make sure that your property has been protected at all times. Please fill in Just Ask Us with as much detail as possible to enable us to give you a quote.
Once you have a property it has to be looked after. NRI’s either do not have time nor do such petty issues be occupying your time while you come to India on holidays. S2NRI will take care of your utility bill payments like Electricity Bill / Water Bill / TV Cable Connection / Internet Connection / Society Maintenance Charges etc. We will take care of all these and do the required running around. Remind you of your payment due dates. However the responsibility to send the bill amount before the due date vests with the client. Further, if there are any long pending dues that are in dispute or require special attention, they will be charged extra. The charges are per service per bill.
Property is a big investment that needs constant supervision and protection. Unwatched property can attract encroachers and miscreants. It's not possible for NRIs to monitor it as they stay thousands of kilometers away from home. S2NRI is here to help. Whether it's an investment or an eventual home, lying vacant or rented, it always needs protection and supervision. NRI’s should enjoy the most from their limited duration holidays in INDIA. It will be so nice if before you land in India, your own house is cleaned, basic necessities like soap, towel, etc. are in place neat and clean, a housemaid available for a few days, if you have a car, then a driver is arranged for a few days. S2NRI can help you with this and actually increase your holidays by reducing all the time wastage in petty issues, which can be better handled by experts. S2NRI can take pictures and videos and inform you before your arrival what your house will look like when you open the house doors.
Once you have a property it has to be looked after. NRI’s either do not have time nor do such petty issues be occupying your time while you come to India on holidays. S2NRI will take care of your statutory payments like Municipal Taxes / Property Taxes etc. We will take care of all these and do the required running around. Remind you of your payment due dates. However, the responsibility to send the bill amount before due date is vests with the client. Further if there is any long pending dues that are in dispute or require special attention will be charged extra. The charges are per service per bill.
If you plan to rent out your property and need a draft rental agreement, S2NRI can assist you in drafting a rental agreement. The draft rental/lease agreement will be customized to suit your needs, and we will handle the process from start to finish. Once the terms and conditions are agreed upon the final draft rental/lease agreement will be prepared and vetted by a legal expert, Legal fees will be extra. S2NRI will act as a go-between you and a tenant.
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