Owning real estate in India is a smart investment because property prices are always rising. NRIs especially prefer real estate in India as a lucrative investment. But what do you do with a house you buy as an investment, until prices mature? There is a great way to monetize a property in India: By renting it out. Did you know, a search on MagicBricks for rental houses gives over ten thousand results for Bangalore alone? Rent is a great way to earn a steady monthly income from your property in India.
The issue with rental property, is always with the hassles of property management that owners face. Especially home owners who are NRIs. The most common issues our clients face with rental properties are:
- Finding new tenants
- Verifying tenants
- Managing the property and tenant demands
- Running maintenance tasks
- Finding good vendors for affordable prices
- Collecting rent on time
- Repair management
The issue with rental property is that owners cannot delay activities that need to be done to ensure the house is perfectly inhabitable. For example, you can delay the cleaning of an overhead water tank in a house no one is living in. But when you have tenants who pay you rent, such tasks need to be immediately executed. Fortunately, there is an easy solution for every home owner with tenants: a property management company. Here are three ways a property management company can help you rent out hassle free:
1. Finds & Verifies Tenants
A property without tenants is not generating any money, and this vacant period can be viewed as a loss. Home owners need short turnarounds between a tenant leaving and a new tenant coming in. The problem with managing your property on your own, is that you need to juggle everyday work with property advertising and marketing, followed by showing the house to prospects. A property management company will take over this entire responsibility from you. We have a wide network or listing portals and advertising platforms through which we generate a huge number of leads, show the house to prospects, verify tenants, and then rent out the place.
2. Manages the Property, Maintenance Tasks, & Tenant Demands
Once you find tenants for your house in India, the job only just begins. You need to perform regular checks to ensure the property isn’t degrading, cater to tenants’ needs, etc. This becomes bothersome when you have regular day-to-day work, and even more bothersome when you’re an NRI. As a property management company, we take over ALL tasks related to the property from you. inspection, repairs, maintenance, rent collection, tenant servicing, etc. You can enjoy rent, with none of the hassles.
3. Provides you the Benefits of Known Experts & Vendors
Firstly, we assign a property manager to your property who is an expert. During regular inspections we are able to determine if any maintenance work is needed, and as experts in this field, we are able to find even the smallest kinks that you might have missed. This ensures your property is always safeguarded. We also have a wide network of vendors who not only do the best job, but also give us a better price that becomes a saving for you.
So, there you have it, 3 reasons to trust a property management company to handle your rental house. If you’re looking for more insights, check out this knowledge article we recently published: Manage Property On Your Own or Hire a Property Management Company?
Here’s a list of some popular companies that you can talk to: