Owners require Property Management services in India for a variety of reasons, Here are 5 use cases of Property Management Services in India for NRI property owners:
Prevent poor property management by family & friends
The owner has property in India but lives outside in India and has a friend/family to manage the property. In such cases, the owner relies on relatives and friends. This works out for some time. Given that even friends and relatives get busy with their lives, the quality of management suffers greatly. At some point, this also leads to a souring of the relationship.
Avoid property management by a close relative
Owner lives outside India has property in India and has a close relative managing it. In such cases, many times the close relative starts taking financial advantage of the owner since he actively manages the rent collection. In such cases, the relationship goes beyond the repair
Take possession from builder
The owner booked a builder property in his city of residence and then relocated to a different country or a different city. In such a situation the owner needs help in taking possession from the builder, inspect the property to identify the issues with the property. In such cases, the property management company can help take possession, follow up with the builder to get the issues fixed. And subsequently, find a tenant.
Taking care of interior design of home
Owner took the possession of the property but urgently left India without any interiors in the property. In such situations, the property management companies can help furnishing the property with modular kitchen, wardrobes.
Finding a New Tenant & Rent collection from Tenant
Property is already rented with a good tenant who has given the notice to vacate. This comes as a jolt to any NRI living abroad. The management of property appears to be smooth if an old good tenant continues to rent, even as the owner relocates to a different city in India or outside India. But when such a tenant decides to leave, the owner doesn’t know where to go.
Read the article on: Checklist for NRIs to invest in Indian property