Why property management is important for NRI?

When people leave their valuable property and reside away from their home country, the challenges they are supposed to face are right around the corner. At Propadis, we have helped a plethora of NRIs in maintaining and managing their property by building a strong layer of trust with them. We have come across a wide range of clients who had faced serious problems in the two major issues namely:

  • Illegal Possession of a property
  • Land Grabbing

With our experience in handling such issues, we would strongly suggest that engaging with a reliable property manager is highly essential. Recently, a man residing in United States approached us by stating, “My tenant is not vacating the house and seems too stubborn for any kind of warnings. What further step can I take to solve this problem?” We could understand the worry and fear through his voice! The person residing in the NRI’s property started posing critical problems such as:

  • Delayed in paying the rent.
  • Ignoring and not attending the owner’s call.
  • Renovating the house without prior permission.
  • Hiding owner’s nameplate.
  • Gives false reasons when asked to vacate.
  • Extra members occupied the house without permission.

The owner is unable to come back and solve the issue personally because of his work life restrictions. We took it as a challenge and solved his problem through legal steps. It would have taken more time and higher cost to solve the problem by our client alone. Since we are here and know how to tackle the issue, could manage to arrive at the solution without any complications. As a result, the secure property management is required by NRIs to safeguard their property.  Keeping this case in mind, we would like to explain you why the property management is significant by NRIs and help you to take the right measures at the right time.

What is a Property Management Company & What Do They Do?

Regular Property Visit: In the first place, you can never rely on anybody blindly! Your friends or relatives might not be able to dedicate a consistent time to help you in their busy life schedule. Sometimes, you might need someone who is trustworthy to make regular visits to your property location and update the status of the same. You will be waiting to know that the property is well maintained and is free from danger/threats. In such a situation, the property management companies can handle the situation legally and ensure the safety of your property.

Find a new reliable tenant: If you want to find a new tenant for your property, then we will help you to get through the processes legally. In between the contract, if tenant turns out to be cheating against the contract, we will ensure to free your property from such dangerous hands. In fact, managing the tenant by staying outside country is highly difficult and hence getting in touch with a helping hand is recommended.

Regular Rental Payment: Another common reason why the property management must be opted by NRIs is regular rental payment. As per our experience, NRI will not have exact idea about the rent rate at which they should quote their property to the customers. If you reach the property managers, they will help you to set up an initial rent payment and arrange the regular rent collection. If at all any disputes are found, the tenant is made to abandon your property immediately. In addition, the rent is increased or decreased as per the law and is responsible for rent adjustment.

Management of Repair Works: There is a high chance of NRI being cheated during the maintenance and repair works. He/she might be asked to pay more by creating the fake service charges and it certainly cannot be tracked from a far place. We at Propadis have come across such issues and handled the property maintenance – repair at the economical rates. Additionally, we maintain the quality of such services. This is the reason why you need property management when maintenance and repair services are required.

Tax Payment Assistance: Don’t you think it is essential to have someone whom you could trust and depend upon for providing tax payment assistance? You might be busy with the routine work schedule and there is a major tendency to forget about certain property management tasks such as tax payment. In order to avoid such problems, getting the assistance regarding tax filing for your property is necessary and hence property management seems to be significant.

NRI Tax in India: Property Tax Information Every NRI Must Know

Budget Management: If you have a budget limit in your mind for property management, then it is mandatory to have a tracking sheet. Using the tracking sheet, the records related to monetary transactions, maintenance and repair expenses, leases, and other major essentials can be checked. This will certainly eradicate the confusions and help you to be within the budget limit. Thus, property management is required by the NRI to manage the budget appropriately.

Most prominently, the NRI property owners requires the responsible and reliable support for managing their asset. In general, property management enhances the value of your asset and beneficially helps during the time of selling. Being far from your property location, you demand the continuous business flow and regular income without any kind of problems. Property management can end up in obtaining the utmost satisfaction to the NRI regarding monetary returns as well as asset maintenance. It forms the best solution to eradicate the mental stress of NRIs due to the occurrences of any threats upon their property. Since, they cannot keep travelling back and forth to India; property management holds exceptional support to NRIs.

At Propadis, our experienced property managers will come to your rescue and we will do it all for you! We understand the fact of having an asset in the native country is a dream of every NRI.  We have considered it as our duty to safeguard your asset and take complete care of it from the time of commitment. We help you in building a strong relationship to get connected with the motherland. We look forward to secure your valuable investment.

Next read: The increasing demand for nris property management

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