Property management companies and their services are pretty popular these days, especially among NRIs. There are property management services and companies across tier 1 and tier 2 cities in India like Bangalore, Pune, Hyderabad, Chennai, Mumbai, Delhi and Kolkata. Before we delve into the pros and cons of signing up for a property management service, let’s understand what they do and when you might need to hire one. For this article, we’re focusing on the property management companies in Bangalore.
- What property management companies do
Property management companies essentially become your eyes, hands and feet on the ground. They literally take over all house management services and responsibilities when you are unable to. You might be an NRI who stays far away from a house owned in India. Or, maybe you own a house that’s given for rent and you don’t have the time to manage the house and the tenants. In these cases, you can hire a property management company who will provide the following service:
- Property maintenance services in Bangalore
They will handle repairs, cleaning and periodic checkup of your property. It could be a vacant house (in which case you really need to hire a property management company) or maybe a rental property, in which case the rental property services stated next would be of best use to you. Bangalore is a big city, and you can save yourself the hassle of travelling to and fro for repairs and checks easily.
- Verify tenants for your Bangalore home
Renting out property in Bangalore is a popular fad because of all the students and working professionals who come here from all over India. But, because of the diversity in people, it becomes extremely important to vet the tenant candidates to avoid any problems in the future. Property management companies in Bangalore, when hired for rental property management services, take over the responsibility of finding AND verifying the candidates. Read more about why tenant verification is important here: Tenant Background Verification – What Every Homeowner Must Know
- Manage your tenants in Bangalore
Once tenants are hired, the rental management companies also take over tenant management responsibilities. They cater to their needs, manage expectations and demands, handle property maintenance and repairs, rent collection, etc. You can read more about tenant management here: Dealing with Tenants the Right Way: Through A Property Management Company
We have an entire post dedicated to the services that property management companies in India provide, which you can read here: What is a Property Management Company & What Do They Do?
The pros and the cons
Coming to the crux of this discussion, what are the pros and cons of hiring a property management company in India.
- Manage end-to-end property management services
- Take over tenant responsibilities
- Perform periodic checks without any prompting
- Deliver regular reports about services rendered and the condition of the property
- Manage legal tasks and issues
- Extremely affordable
- Treat your property like their own
- The only con that we can think of is if you don’t select the best property management company in Bangalore, you could end up with a bit of trouble.
That is why we encourage you to first talk to the company and specifically the property manager who will be handling your property. You can reach out to us to schedule an appointment or call any time.