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Property management is a practice of managing things involved in controlling, maintaining, and oversight of the apartment, house, bungalow, or any piece of land. These practices are applicable on residential, commercial, and real estate land.
Thanks to organized consultants and agencies that take care of these fixed assets as their own while adding more values like finding tenants!
Reasons why you hire S2NRI an NRI property management
- Do the Paperwork
Renting a house requires police verification of the tenant. If possible, do seek the office identity of the tenant during screening for avoiding any problems in the future. Cover all necessary details like name, address, parents’ details, monthly rent, and all assets in the house. However, managing all of these things is cumbersome. Here, the expert non-resident property consultant can help.
- Address Tenant Issues Easily
Tenant management can be a big challenge, and it can be more troublesome if you’re abroad. This process involves screening him, collecting rent, addressing disputes among different tenants, and maintaining the accommodation. Hiring a property manager can let you get off these challenges easily and quickly.
- Odd Hour Requests
Requesting the landlord at 1 AM for letting in or sending a duplicate key can be difficult. Unaddressed odd-hour requests can lead to break-ins or evil practices. Apart from that, the sudden sewage blockage or fire, or short circuit may cause big trouble, which needs immediate solutions.
- Legal Support
NRIs emigrate, which makes tenancy management difficult. There are many legal concerns associated with paperwork, tenant screening, renewal, and eviction for being unable to pay rent. From distance, managing these things is not possible. Here, Services 2NRI comes into play, which offers legal and liaison services to NRIs. This is how we protect them from hassles that often appear in managing the property.
- Property Maintenance & Repair
The most obvious reason to hire a property management agent is its timely maintenance. Not only does it keep the real estate maintained, but it also attracts prospective tenants who become ready to pay a high rent. From mending a wall or plumbing to renovating the entire premise-all matters associated with it can be resolved in a short period.
- Enable Tenants to Manage Supplies
Most of the real estate management agents have contacts with vendors in the local area, which enable tenants to manage supplies of goods and services effectively. Property managers assist in availing housekeeping and supplies of commodities via trusted contacts of vendors, merchants, or suppliers.
- Evicting Tenants without Hassles
Making tenants vacate the NRI property can be a nightmare. It requires patience, experience, and effective strategy. The property managers foresee the prospective challenges like delaying rent or confiscating the house. They take all legal steps before accommodating a tenant, which covers on-paper screening, renting, and rules to stay in. These practices help in maximizing rental income with the least requirement of any legal action. Besides, you may revise the rent as per the market trend.
- Rental Income Tax
Rental income from the property in India can be taxable, as it is categorized as a capital income. You may find paying property tax tedious because it requires a lot of paperwork, forms to avail claims, and visiting the tax department frequently. Here, you cannot do the plus and minus on your own. So, you need an expert advisor. Hire us to get end-to-end assistance on property-based tax deductibles.
- One Time Investment for Lifelong Income
Property is the only thing that does not perish. Nor does its value decline. It consistently rises. The non-resident community requires professional support and consulting over its valuation and modification updates. This knowledge can improve the rental income, impacting maintenance and insurance costs.
- Fill the Gap Between Tenant and Landlord
Property management in India needs expert managers who have all capacities and clarity over the related matters. Their expertise can help non-residents resolve real-estate-related matters over the phone or by physically visiting there if required. In addition, these experts can easily discover fake excuses or over smartness of tenants by arousing sympathy at the time of rent payment.
- Consistent Source of Rental Income
The non-resident community often invests in real estate for seeking passive income. This is a bumpy way, which has a ton of hassles, especially in paperwork. A property management consultant can enable them to own and manage it effectively for a regular passive income without personally handling tenancy and legal responsibilities.
How does Services 2 NRI help emigrants manage property in India?
Services2NRI has been here for years, addressing non-residents’ concerns about tenancy and property management. We understand how challenging it is to effectively manage your farmhouse, apartment, or any property remotely. Our legal experts and consultants help you to have a peace of mind while having end-to-end assistance in:
- Buying & selling
- Utility bill payments
- Statutory Payments
- Property Monitoring
- Rental Agreement Assistance
- Property Management – Others
- Encumbrance/ Khata/Patta, 7/12 Certificate
- Tenant Management/ Vacating Inspection
How to protect NRI property in India?
Deploying a property manager can help you in protecting the property in India. He can help you with all of the following things:
- Discover Verified Tenants
Accommodating a house requires a tenant. But, this can be a wrong decision if no proper verification goes on. The screening is necessary, which cannot happen remotely. Here, the experienced agent can help in screening the tenant properly if he has a clean record.
- Regular Check-up of the Property
There may be the case of an unconstructed or vacant property. These agents can regulate the monitoring of your property to check if the property is intact and unoccupied. In case of any illegal acquisition, these agents timely inform and protect the property.
- Timely Rent Collection
Calling tenants every month is annoying. Hiring an expert can take this responsibility, and you just sit back, having peace of mind while adding more capital through a passive source of income (i.e. rent) every month. The utility bills are also paid by them on time.
- Fix Interiors and Maintain
Renting out your fixed asset can help you keep your house maintained cost-effectively. Moreover, it’s not a painstaking experience to personally come down here, compromising on work and investing a massive amount in your property maintenance. The professional consultants support in all of these matters while saving hundreds of dollars.
- Liability Payments
Leasing out a property pushes you to monitor the timely payment of utility bills. The experienced consultants take all responsibility for coordinating your liabilities like property tax & khata, etc.
