Are you a non-resident of India surrounded by lots of issues related to your property here? If yes, this blog can be insightful for you.
Certainly, managing a property from being so far is actually complex. So, here come some insightful pieces of information that can simplify managing your disputed property, tenant conflicts, and even illegal encroachments, no matter where you live.
Common Property Disputes Faced by NRIs
Let’s start with some common disputes that worry non-residents a lot.
1. Illegal Possession or Encroachment
Unauthorised occupation of the property is one of the biggest problems that Indian expats deal with. And it becomes a stressful legal battle in the end to vacate your home while reclaiming its possession from your relatives, tenant, or strangers.
2. Tenant-Related Disputes
Rental income certainly seems a tempting alternative to generate income. But it comes with multiple risks. How is it if you don’t receive rent on time, or may never receive it? Illegal subletting is extremely common these days. NRIs struggle to tackle these problems.
3. Title and Documentation Issues
Have you seen your property titles? They should be complete and crystal clear. Otherwise, it may lead to disputes with neighbours, government authorities, or even family members. This problem is technically related to professional property consultants or solicitors. They legally find solutions and complete documentation as per law.
However, some powerful laws are still there safeguarding NRI property rights. Have a look into them:
Existing Laws Protecting NRI Property Rights
· The Transfer of Property Act, 1882: This is to secure the transfer of property in India, which also protects the rights of NRIs.
· The Registration Act, 1908: The documentation and registration of the property transactions come under it.
· The Real Estate (Regulation and Development) Act, 2016 (RERA): This is basically enforced to protect homebuyers, who can be NRIs also, by keeping real estate transactions transparent and defining their accountability.
· The Benami Transactions (Prohibition) Amendment Act, 2016: This law avoids illegal transactions through properties that are held in the name of someone else to evade taxes and legal scrutiny.
Proposed Changes and Recommendations
Certain amendments are in the pipeline, which are mentioned below:
· NRI Property Protection Bill: This bill is tabled to safeguard NRI property rights as there was no such concrete bill that existed prior. But it is under discussion.
· Ease of Legal Processes: This is related to legal procedures for NRIs, which are proposed to take place through video conferencing for court trials. Also, online documentation is likely to be introduced for convenience.
4. Maintenance and Upkeep Challenges
Like anything, property also needs proper monitoring and consistent repair. Ignoring it can decrease its value, and hence, you may have to bear potential legal liabilities.
5. Fraud and Scams
Non-residents of India are quick bait for fraudsters. They can exploit their physical absence and forge documents to illegally confiscate their properties and hence, manipulate their ownership records.
Why Property Management Services Are Must-Haves for NRIs
The aforesaid cases are extremely common, which makes it a necessity to hire a property management services provider. These service providers can become your local representative. This is how you can manage your property well and keep it undisputed.
Specifically, Indian expats can leverage the expertise of experienced consultants in these ways:
1. Legal Assistance and Dispute Resolution
A property management company or NRI consultant delegates the responsibility of handling property-related disputes to a legal expert. He/she, on behalf of non-residents, files cases and represents your case in the court if required. In essence, they ensure that your property rights should be protected.
2. Tenant Management
Tenant management may also be a strenuous activity. It involves collecting rent, repairing houses, managing their verification, and even handling their evictions. A property manager takes care of these issues. So, it’s a hassle-free experience for NRIs if they hire an expert consultant or manager.
3. Regular Maintenance and Inspections
Regular inspections, coordination for repairs, and meeting sudden requirements for wear and tear might be daunting tasks, which a property consultant resolves.
4. Documentation and Compliance
Maintaining accurate records, updating property documents, and ensuring compliance with the existing local laws and regulations—these are necessities. With support from an expert, these mighty tasks can no longer be tricky.
5. Fraud Prevention
The proper monitoring of properties can never allow the case of confiscation, unauthorised transactions, or encroachment to happen.
The Present Scenario: Why NRIs Need to Act Now
The COVID-19 pandemic has triggered the need for a reliable local property manager. This alternative will help in tackling issues related to travelling and lockdowns. Simply put, these scenarios won’t remain a barrier in addressing property disputes in-person.
What NRIs Should Do to Protect Their Property
Here are some suggestions that can keep their properties secure:
· Regularly Monitor Property: Hire a trusted property management services provider to consistently keep a watch on your fixed assets and address issues proactively if they emerge.
· Verify Titles and Documents: Don’t compromise with unclear and obsolete documents of your property. Get them updated and legally verified.
· Stay Informed: Don’t miss any updates on legal developments. Hiring a legal expert who specialises in NRI property disputes can help.
· Use Technology: Digital tools can minimise dependency for accessing land records, paying taxes, and monitoring property management remotely.
Select the Right Property Management Service-How?
For selecting one of the best property management companies, these points will guide you:
· Reputation and Experience: A company with a proven track record in addressing NRI property requirements can be the best choice.
· Legal Expertise: Enquire if the potential property consultant or manager has legal support providing solicitors in his team. If it has, you can rely on it for settling disputes related to property effectively.
· Transparency: Discuss and find whether the potential consultant provides regular updates and detailed reports consistently.
· Customised Solutions: Ensure that your property consultant is able to tailor its offerings.
Conclusion
As an NRI, your property is a valuable asset that deserves careful attention and protection. By partnering with a trusted property management service, you can mitigate risks, resolve disputes, and ensure your investment remains secure. Don’t let distance or legal complexities stand in the way of your peace of mind.
