• Property Management FAQ

Owners FAQs

We receive queries covering many aspects of property and tenancy management and real estate investment. However, the most commonly asked questions especially by NRIs-concern property purchases and the government documents required for property transactions.We hope the following FAQs make the subject a little easier to understand.

Why do I need property management service?

One of the major reasons to use a professional property management company is that they have valuable experience and know-how in handling different aspects of property transactions. These areas of expertise include dealing with government authorities, understanding legal processes, identifying and managing labour—to name just a few.

 

By entrusting your work to a reliable professional, you are saved time, effort and uncertainty. You enjoy complete peace of mind while your investment is protected and its value maximised. An additional benefit is that you are also saved the bother and embarrassment of asking unwilling relatives or friends to take care of your property. (For instance, people close to you might misunderstand your intentions should you require clarifications or have questions; in comparison, clearing doubts with an organization is simple.)

 

The services offered by a property management company are especially useful for owners of multiple properties; more so if the properties are located in different cities.

What type of properties do you manage?

We manage residential apartments, villas, row houses, independent houses, guest houses, properties under construction, commercial properties including office space and retail space, industrial properties, plots/sites and large vacant lands.

What kind of property management services do you offer for rental properties?

We offer a full range of property management services. Our team is knowledgeable in property-related matters and well trained on policies and procedures. You can rest assured that they will work with you in a proactive manner and be available whenever you need them. Some of the services we offer include:

 

  • Advertising your property
  • Processing tenant application
  • Lease enforcement
  • Troubleshooting on maintenance issues
  • Maintaining your account details
Can you help me in finding a good tenant?

We certainly can. We follow efficient and streamlined methods to get you the best possible tenant, starting from screening the tenant to showing the property to negotiation and signing the lease agreement.

Can you pay monthly bills for me and when will I receive my cheque?

We can pay any bills associated with your property. This includes utilities, taxes, insurance, maintenance, loan payments and any other property-related payment you may have to make. Should any money remain with us after payments, we will send this balance to you, or remit it to your bank account, generally on the same day or in two business days after the rent has been received.

Will a monthly management fee be charged when my property is vacant?

We do not charge property management fee during periods when the property is vacant. We only have a one-time charge—after all, our aim is to ensure there are no vacant periods!

Is any extra fee charged if you need to evict a tenant?

No. Our in-house legal service team deals with all aspects of the eviction process on your behalf at no extra charge.  However, we would charge property owners for any court or legal fees that might arise during an eviction process. Incidentally, since, we do a thorough screening of our tenants, our eviction rates are extraordinarily low.

How will you update me about my tenants and rented/leased property?

Frequent visits: We will visit your property periodically and report back to you through member login page / email.

 

Regular telephonic/online contact: We will keep in regular touch to ensure your requirements are being addressed satisfactorily. If you need to contact us, we are available during normal business hours. If you cannot reach the person you want, leave a message. He/she will call you back within the same business day, or at the beginning of the next business day.

 

Email: Our staff will attend to all your email requirements immediately, whether they are at office or on the field.

 

Online account: On signing our property management service agreement, we will assign you a personal secured online membership account on our website. Through this online account, you will have access to all your important documents, including your property management agreement, tenant’s lease, maintenance work details and much more! You will also receive emails through this account and be able to keep track on all transactions and messages, from anywhere and at any time.

How do you advertise or promote our rental properties in Bangalore, Mysore and Tumkur?

We will ensure your property is listed on suitable websites. Dynamic links in web listings will include panoramic pictures and a video tour of your property, both inside and out. And our team will also provide you real-time leads.

How long will it take to begin promoting my rental property in the market?

Once we have signed a management agreement, we will start the process, beginning with online advertising.

How much will it cost to market my rental property?

Rates vary from one location to the other. Please call us for an accurate estimation of how much it would cost in your case.

How much time will it take to find a tenant for my rental property?

We believe that finding a reliable tenant who will pay an optimal rent is more important than getting you quick tenancy. Once we find a suitable tenant, we generally process the application within 24-48 hours. After thorough screening and processing, we follow up with you for final approval.

What factors do you take into consideration when doing a rental market analysis?

We begin with an assessment of local and national market data that will directly and indirectly affect all features of your property. Some of the points that we consider are: Rental inventory levels; vacancy rates; and the average rent prices currently available.

What are the points you consider while screening a tenant?

Some of the major points we consider are:

 

  • Public record search
  • Credit check
  • Criminal background check
  • Employment verification
  • Income verification
  • Rental history
  • Eviction Records
How do you handle maintenance and repairs?

Should we come across any maintenance issues/need for repairs on your property, we begin with assessing the problem and the work required to rectify it.  Our team will then contact suitable vendors, get genuine quotes and discuss the options with you. Once we have your approval, we will supervise the work from start to finish.

We will keep you updated on progress, sending you photographs if required. On completion of work, we will give you a detailed account statement and details of work handled.

Can I visit my property after it is occupied?

You can visit and inspect your property at any time, but we request you to inform us of your intended visit in advance.

How can I be sure that my property is not damaged by my tenants? Should that happen, how would you deal with the situation?

Our team will conduct routine inspections of your property on a periodic basis.    If they come across any damage to your property, they will immediately inform you of the matter and, in consultation with you, take the necessary action to ensure the problem is rectified. Detailed accounts will be maintained

 

(Note: If tenants are responsible for the damage, they will be asked to pay for the repairs. If the cause of the damage is due to construction flaws—for example, cracks/leaks—then the owner will be required to pay for repairs.)

How long will you manage our rental property?

We will manage your property for a period of one to five years, based on our contract with you.

How and when can I expect to receive my monthly statement?

On our website, we have given access to our property owners where they can login and check all the monthly statement details that includes all income and expenses associated with their property

Can I exit from the property management contract? If so, what is the procedure?

You can exit from the contract at any time, with 30 days’ notice to us.

There will be no refund of service charge.