Do you own a property in India that you’re finding hard to maintain?
Before you consider hiring a property manager, let’s analyze if you really need one. If you own a property in India that you currently don’t live in, maybe because you’re an NRI or because it is a second property bought as an investment, this article is for you. Have you have been trying to sell a land or house in India but you’re finding it hard to advertise, find buyers or arrange open houses? This article is for you. If you own a house and you want to rent it out but you cannot find tenants or manage tenants, this article is for you.
Because this article will tell you the advantages of approaching a property manager, and that is exactly what will free you from all the stress of owning a house in India.
Why is property maintenance in India stressful?
When you live in the house you own, property management is relatively easy. Since you live there, you manage most of the cleaning and repairs yourself. If your tenants live right upstairs you can collect rent and manage their expectations easily. Being available to cater to repairmen and handymen is feasible.
But consider the scenario where you buy a house in India but don’t live in it. You might buy it as an investment because prices are low. Or maybe for the purpose of renting it out to earn an extra income. You might be an NRI who is investing in their future home in India. Whatever the purpose, now that you are not physically present at the property in India, all the aforementioned management tasks suddenly become a hassle.
Property management quickly becomes a troublesome task
- You cannot constantly travel to your second property to handle cleaning and repairs, because you have your job and other daily chores to attend to. You also cannot simply hire a cleaning service and hand over the keys to them. This puts you in a dilemma because you have to somehow travel to the property, or send a friend or relative.
- Once a month you have to take the effort to go and collect rent from your tenants. As if this wasn’t a hassle in itself, you also have to manage tenants’s expectations. You have to get repairs done, painting work tended, maintenance, etc.
- You also have to personally go and supervise when any construction or repair work is being done. This requires you to take time off from work and your leisure time to attend to a stressful chore!
- If you decide to sell a property in India, you have to manage advertisements, open houses, brokers and potential buyers yourself.
I know I’m preaching to the choir. If you own a house in India that is given for rent or on sale, you already know about these problems. You are probably currently facing them. Let me tell you how a property management company will solve all these problems.
Property Management in India Can be Easily Handled with the help of a Property Manager
Property management companies are not a new concept. In India, however, they are not yet well exposed. People are aware of real estate agents, brokers and listing companies, but not “Property Management Companies”. These companies actually take over the tasks of real estate agents, brokers and listing companies, and also provide a host of other services!
3 Reason to Hire a Property Management Company
They act on your behalf
Real estate agents, brokers and listing companies have specific goals they are trying to achieve. Namely: sell a house, sell/rent a house, sell/rent/buy a house. A property management company goes beyond that. They don’t manage or handle one or two ‘services’, they manage and handle the ‘property’. This means any requirement the property in India or the property owner might have, the company caters to.
If you want to rent out your house in India, they manage advertisements, showing the house to potential tenants, rent collection, tenant demand management, etc. All of that without you having to lift a finger.
If you want to sell a property in India, they arrange open houses, show the house to potential buyers and get you the best deal.
If the property needs repairs, they contact trusted vendors and repairmen to get the job done efficiently. Additionally, since they work with these contractors and workers on a regular basis, they get you a discount on the price too!
So, you see, they treat your house in India like the precious investment that it actually is.
You are kept informed on a regular basis
In order to ensure you are not bearing any of the stress or hassle of managing a house in India, property managers in India take over all management services and act as a liaison to oversee all activity. This removes the need of you being physically present for any management activity.
You will, however, receive periodic reports on everything that was done and is being planned on the property in India. This guarantees you are always informed about the current condition of your house in India, the tasks performed, the costs incurred, etc.
They have the right contacts
Every property management task needs the right contacts to get the job done. If you’re selling, you need to know the right broker, advertising agency, lawyer, accountant, etc.
If renting out your house in India is the aim, you need to advertise on the right portals, screen potential tenants, arrange security and maintenance measures, collect rent yourself or hire a handyman, keep regular servicemen like plumbers and painters on your speed dial, etc.
In case you own a vacant plot or house, you need to know cleaning services, weeding crews, repairmen, etc.
For every task there is a specialist, but the difficulty is in finding the right guy. A worker who does the job efficiently and at a reasonable cost. You definitely don’t want to have a botched job or end up spending more than you should.
Fortunately, property management companies have an arsenal of efficient workers at their disposal. Since they deal with properties and houses all over India and on a daily basis, they have the right contacts in each city. They need to know the right contacts, it is a part of the job. Living and breathing real estate, they know the current market price for each utility and job. This ensures you get the best service and the right price.
Here’s a list of some of the best property management companies that you can begin with:
Propadis: https://propadis.com – We are the best of course! But, we do not shy away from giving you more sources. Your happiness, after all, is most important to us. Here are some more-