The pandemic has been a source of major turbulence in the real estate sector with people packing up and leaving their rented properties to be in their home towns with their family.
This has created an unexpected situation for all homeowners across various cities, wondering how they can try to ensure their property doesn’t remain vacant for too long.
As an NRI – being away from your property can make you feel less in control and which could end up leading to months of your property being vacant.
Property management services solve these exact small but essential problems for you. Ensuring your property is immediately listed in appropriate places, any damages or maintenance work is taken up if your tenant left suddenly and so on.
Read on to understand the benefits you can reap by getting yourself a property management company.
Evaluating Market And Property
In rapidly changing times, you need someone who can constantly monitor the changing real estate market and make the right move at the right time when it comes to buying or selling a property.
If you are not aware of the local area trends and market value of the property – you may end up underselling or overpaying on your real estate investment.
By hiring a property management company, you get a team that is dedicated to finding the right real estate investment options for you.
Furthermore, if you already have a property and are looking to rent it out, you may not be fully aware of the rent trends of that particular locality.
Eyes On Deck
A property management company has a dedicated property manager who would be able to make timely visits to your property to ensure its upkeep and maintenance.
Whether it’s a property that is vacant or occupied – it needs periodic visits to check on damages made by weather changes and also if occupied, any unreported damages made by the tenants.
For example, if a property has been vacant for some time, a property manager will be able to visit the property and determine what revamps and fixtures may be needed and how they need to be prioritised (flaking paint, water leakages, deep cleaning, broken windows etc).
Once a property manager has checked-in on the property the next step is buying, selling or renting.
In the case of buying or selling a property our team works on effective marketing to generate high quality leads, handle all the calls, visits, showings and negotiations.
In the case of renting – a property manager ensures your tenants are verified and meet any specific you may have for who you want to rent your property out to.
Getting The Word Out
If you are an NRI you probably won’t have time to keep up with several listings and queries that come in from potential buyers, sellers or tenants. A busy schedule may cost you when it comes to your property investment.
A property management company has a team that works on creating appropriate ads and listing to find you the best seller, buyer or tenant.
Once they find just the right person,they carry out the necessary steps based on the type of lead and intent for the property.
A property management company has a team of experts who work on various aspects of your property and once they find you potential tenants – all tenants are verified.
If you are happy and like the potential tenants, your property manager assists you in the agreement procedures and ensures all legal grounds are covered for you and your property.
Once your tenant has settled in – a property manager drops in to check on the properties upkeep and maintenance. They are available to the tenant to handle any immediate situations or unexpected requests/complaints/concerns.
Paperwork: Tax & Document Management
One less thing to worry about! As a property management company – Proptech solutions will help in filing property taxes and managing legalities.
We will also ensure you are reminded and informed about any changes or updates that need to be made with respect to the paperwork to make sure you don’t face any legal penalties for your property due to missed paperwork.
One of the essential concerns for property owners is: how do we know this is happening?
We have an exclusive app via which you get all the updates you need!
This makes tracking and monitoring your property accessible at the tip of your fingers. In addition to this, you will also receive email updates from our property managers.
We also assign a property manager for on-call support for any queries and concerns that may arise.
A property manager can be viewed as your ambassador for your properties in India – running and following up on the necessary details to keep your investment in the best possible position based on changing waters.
As a property owner, you will have the freedom to invest and expand your real estate portfolio as you will be free from the nitty gritties. You can focus solely on the expansion of your real estate portfolio while your property manager ensures that all your properties are looked after for you.