Post renting activities
Finding the right tenant and signing the rental/lease agreement completes two important milestones. The third is an on-going process that comprises.
Rent Collection and Deposit
- At the beginning of the month, on a designated date, the rent cheque will be collected and deposited in your bank account, based on your instructions.
- We will ensure rent is collected on a regular basis, on or before the due date. A scanned copy of the bank deposit slip will be uploaded in your secure member area, on a monthly basis. This will be always available to you for reference.
- We follow up on late payment, we enforce late fees as per agreement.
- We send out pay or quit notices.
- Our Rent Collection Process.
- The right approach to collecting rent and late rent payments ensures a steady cash flow.
- We create a buffer between you and your tenant, protecting you from the stress of chasing the tenant for rent, listening to excuses, and deal with the unpleasant eventuality of eviction of the tenant and finding of a new one.
- As a third party, our dealings with a tenant are impersonal and objective—something you might find embarrassing or difficult to do. Many tenancy management service providers (and landlords) will agree that it is easier to manage other people’s properties than manage their own.
- We make the tenant understand that rent collection is a non-negotiable front.
- Should eviction become unavoidable, we are familiar with the laws involved in the eviction process and will save you from participation in the unpleasant and stressful process.
Periodic property visits
In addition to regular monthly property visits, our managers will check your property (inside and out) once in 6 months and give you a detailed inspection report with photographs or videos. Any misuse of the property or the inventory would be dealt with as per the terms and conditions of the agreement with your tenant.
We will make periodic inspections (inside and outside) as per a predefined schedule, looking for repair needs, safety hazards, code violations, lease violations, etc.
Utility bill payments
You can decide whether you would prefer your utility bill payments to be handled by your tenant or by us.
If there is a period during the period when your property is vacant, we will assist you in paying electricity, maintenance and water bills. A regular record will be maintained. All these bills can be accessed by you anytime, anywhere, at the click of a button, from our secure member area.
Assistance on maintenance and tax payments
Assisting with apartment or villa association maintenance and property tax department, city corporation, municipal bodies, associations and other local authorities co-ordination and payments.
We understand the complications involved in paying property taxes. We simplify the process by assisting you in property tax payments and updating you in case of any misses in the previous years. We ensure that taxes are paid well in time, helping you avoid any heavy penalty/interest. Fees will be charged on actuals as per the government laws.
Financial and accounting
Make payments on your behalf (mortgage, insurance, Home Owner's Association dues, etc.).
Detailed documentation of expenses, via invoices and receipts. Maintain all historical records (paid invoices, leases, inspection reports etc.).
We manage a separate account for your property maintenance expenses, tax payments, electricity, water etc.
Rental collections and leasing account management and advise you on relevant tax deductions related to the property.
Legal document procurement
Our package includes the procurement of an encumbrance certificate once a year. This provides a detailed entry of the transactions taking place on the member’s property, including any case of illegal entry.
We also help you in updating the khata entries and khata transfers, for an additional fee charged at actuals.
At the time of vacating, a thorough check of the inventory will be made to ensure your property and inventory is in good condition. In case of any kind of negligence by the tenants, the necessary action will be taken on your advice.
- Exit Inventory Check— At the time of vacating, a thorough check of the inventory will be made to ensure your property and inventory is in good condition. In case of any kind of negligence by the tenants, the necessary action will be taken on your advice.
- Inspect your property and fill out a report on the property’s condition when the tenant moves out.
- Provide tenant with a copy of this report, as well as estimated damages.
- Return the balance of the security deposit to the tenant.
- Clean the property and perform required repairs or upgrades. Re-key the locks.
- Put the property back on the market for rent.
Maintain and monitor a 24-hour emergency repair hot-line and provide and oversee an in-house maintenance crew.
Maintain outdoor areas.
- Leaf, trash and debris removal.
- Repairs and painting of existing property.
- Cleaning, fencing and surveillance of sites/plots.
In larger renovation work, we:
- Provide recommendations on how to maximize rental income.
- Prepare preliminary cost estimates.
- Get multiple independent bids for the work.
- Act as a general contractor overseeing the work.
We practice precautionary maintenance by following methodical procedures. This ensures that maintenance issues are dealt with in a timely manner, and not after they become major expensive problems. This requires a strictly followed maintenance-check programme that includes measures like:
- Periodic property inspection, to ensure lease compliance and spot maintenance issues at a manageable stage.
- Settlement of utility bills, management fees and other expenses at a reasonable price.
- We offer suggestions and feedback on improvements and alterations that affect rent and have healthy impact on maintenance and insurance.
- In case of any repair and maintenance work, we provide assistance through our extensive network of experienced, efficient licensed contractors and civil engineers. We will ensure the best quality of work, at the best possible cost.
- On receiving a tenant complaint, we visit the premises within a reasonable time and assess the required work. We also check the nature of the damage/loss. If the fault lies with the tenant, you will be notified and necessary steps will be taken as per the terms and conditions of the rental agreement to resolve the situation.
- Quotations for maintenance jobs.