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Property Management
How S2NRI Help NRIs in Property Management?

How S2NRI Help NRIs in Property Management?

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Property management is a practice of managing things involved in controlling, maintaining, and oversight of the apartment, house, bungalow, or any piece of land. These practices are applicable on residential, commercial, and real estate land.

Thanks to organized consultants and agencies that take care of these fixed assets as their own while adding more values like finding tenants!

Reasons why you hire S2NRI an NRI property management

  • Do the Paperwork

Renting a house requires police verification of the tenant. If possible, do seek the office identity of the tenant during screening for avoiding any problems in the future. Cover all necessary details like name, address, parents’ details, monthly rent, and all assets in the house. However, managing all of these things is cumbersome. Here, the expert non-resident property consultant can help.

  • Address Tenant Issues Easily

Tenant management can be a big challenge, and it can be more troublesome if you’re abroad. This process involves screening him, collecting rent, addressing disputes among different tenants, and maintaining the accommodation. Hiring a property manager can let you get off these challenges easily and quickly.

  • Odd Hour Requests

Requesting the landlord at 1 AM for letting in or sending a duplicate key can be difficult. Unaddressed odd-hour requests can lead to break-ins or evil practices. Apart from that, the sudden sewage blockage or fire, or short circuit may cause big trouble, which needs immediate solutions.

  • Legal Support  

NRIs emigrate, which makes tenancy management difficult. There are many legal concerns associated with paperwork, tenant screening, renewal, and eviction for being unable to pay rent. From distance, managing these things is not possible. Here, Services 2NRI comes into play, which offers legal and liaison services to NRIs. This is how we protect them from hassles that often appear in managing the property.

  • Property Maintenance & Repair

The most obvious reason to hire a property management agent is its timely maintenance. Not only does it keep the real estate maintained, but it also attracts prospective tenants who become ready to pay a high rent. From mending a wall or plumbing to renovating the entire premise-all matters associated with it can be resolved in a short period.

  • Enable Tenants to Manage Supplies

Most of the real estate management agents have contacts with vendors in the local area, which enable tenants to manage supplies of goods and services effectively. Property managers assist in availing housekeeping and supplies of commodities via trusted contacts of vendors, merchants, or suppliers.

  • Evicting Tenants without Hassles

Making tenants vacate the NRI property can be a nightmare. It requires patience, experience, and effective strategy. The property managers foresee the prospective challenges like delaying rent or confiscating the house. They take all legal steps before accommodating a tenant, which covers on-paper screening, renting, and rules to stay in. These practices help in maximizing rental income with the least requirement of any legal action. Besides, you may revise the rent as per the market trend.

  • Rental Income Tax

Rental income from the property in India can be taxable, as it is categorized as a capital income. You may find paying property tax tedious because it requires a lot of paperwork, forms to avail claims, and visiting the tax department frequently.  Here, you cannot do the plus and minus on your own. So, you need an expert advisor. Hire us to get end-to-end assistance on property-based tax deductibles.

  • One Time Investment for Lifelong Income

Property is the only thing that does not perish. Nor does its value decline. It consistently rises. The non-resident community requires professional support and consulting over its valuation and modification updates. This knowledge can improve the rental income, impacting maintenance and insurance costs.

  • Fill the Gap Between Tenant and Landlord

Property management in India needs expert managers who have all capacities and clarity over the related matters. Their expertise can help non-residents resolve real-estate-related matters over the phone or by physically visiting there if required. In addition, these experts can easily discover fake excuses or over smartness of tenants by arousing sympathy at the time of rent payment.

  • Consistent Source of Rental Income

The non-resident community often invests in real estate for seeking passive income. This is a bumpy way, which has a ton of hassles, especially in paperwork. A property management consultant can enable them to own and manage it effectively for a regular passive income without personally handling tenancy and legal responsibilities.

How does Services 2 NRI help emigrants manage property in India?

Services2NRI has been here for years, addressing non-residents’ concerns about tenancy and property management. We understand how challenging it is to effectively manage your farmhouse, apartment, or any property remotely. Our legal experts and consultants help you to have a peace of mind while having end-to-end assistance in:

  • Buying & selling
  • Utility bill payments
  • Statutory Payments
  • Property Monitoring
  • Rental Agreement Assistance
  • Property Management – Others
  • Encumbrance/ Khata/Patta, 7/12 Certificate
  • Tenant Management/ Vacating Inspection

How to protect NRI property in India?

Deploying a property manager can help you in protecting the property in India. He can help you with all of the following things:

  • Discover Verified Tenants

Accommodating a house requires a tenant. But, this can be a wrong decision if no proper verification goes on. The screening is necessary, which cannot happen remotely. Here, the experienced agent can help in screening the tenant properly if he has a clean record.

  • Regular Check-up of the Property

There may be the case of an unconstructed or vacant property. These agents can regulate the monitoring of your property to check if the property is intact and unoccupied. In case of any illegal acquisition, these agents timely inform and protect the property.

  • Timely Rent Collection

Calling tenants every month is annoying. Hiring an expert can take this responsibility, and you just sit back, having peace of mind while adding more capital through a passive source of income (i.e. rent) every month. The utility bills are also paid by them on time.

  • Fix Interiors and Maintain

Renting out your fixed asset can help you keep your house maintained cost-effectively. Moreover, it’s not a painstaking experience to personally come down here, compromising on work and investing a massive amount in your property maintenance. The professional consultants support in all of these matters while saving hundreds of dollars.

  • Liability Payments

Leasing out a property pushes you to monitor the timely payment of utility bills. The experienced consultants take all responsibility for coordinating your liabilities like property tax & khata, etc.

Property Monitoring Tips
Why Should You Hire a Property Monitoring Company?

Why Should You Hire a Property Monitoring Company?

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Property management or monitoring refers to leveraging the expertise of operating, proactively controlling, maintaining and overlooking the real estate or any physical property that is residential, commercial and land real estate. It’s similar to business management practices.

Now-a-days, people hire any third party professional to expertly perform all of the foresaid duties and responsibilities with a complete accountability. They want their assets to be cared as if these are their own. In essence, it represents a complete cycle of managing your land or fixed asset.

Licencing Service

Property management services are a licencing job in many countries like Australia, USA, Canada, Germany, British Columbia and many other nations. On the flip side, there are countries like India where this practice is not legally regularized properly.

Where it is legally regulated, the property assistant companies and agents have to apply for the licence to pursue working in this domain. It ensures that the assistant is well-prepared for taking challenges in this field.  So, it’s essential to get registered as a land agent where it is a part of legislation.

Main Property Management Practices

This practice involves the following processes:

  • Property evaluation
  • Rental property
  • Handling tenant inquiries
  • Screen applicants
  • Select suitable tenants
  • Draft a lease agreement
  • Conduct inspection
  • Move the tenant into property
  • Collect rental income
  • Coordinate any maintenance issues
  • Supply financial statements to owners
  • Take care of property taxes on-time

Why to hire a property management company?

Here is the roundup of the reasons for hiring a property management company or agent for caring & managing it:

  • Tenancy management

Screening the tenant’s records, collecting rent, sorting conflicts or disputes and resolving matters between tenants and other people cover all responsibilities of a property manager. Since it’s a job of intense patience, he needs to be friendly, calm and gentle in administering these concerns quickly.

  • Meeting odd hour essentialities

There might be a possibility of requiring property keys or any other essential things like water blockage or shortage during odd hours. The tenants may be caught up in the problem and hence, need the assistance to get off the problem. Circuit breakdown is one of the most commonly seen problems that often trouble tenants. The efficiency agents mark their availability during the need.

  • Legal support

Legal support is mainly concerned with non-residents because an experienced property management agent can get them through any legal hassles in no time. He is professionally trained in tackling these legitimacy barriers, such as evicting tenant in the pursuit of due amount of rent. They are also capable of offering legal and liaison services to ensure that the administration of the owner’s property is in the right hand.

  • Maintaining property

The most obvious reason to hire a property management company is to timely repair and maintain owners’ fixed asset.  The renovated or fully furnished property easily attracts potential tenants who become ready to pay the desirable amount as a rent. So, it’s worth to have an expert on your side that is able to take the charge of meager cracks filling to plumbing requirements.

  • Professionally managing daily needs

Sometimes, tenants may have to suffer on and off delivery of commodities or groceries at the doorstep. These unpunctual services can annoy tenants and they may think to shift. So, some property managers come out handy while handling this issue by using his good contacts with reputed vendors, retailers or suppliers.

  • Put efforts in finding the best-fit tenants

The innovative and effective digital marketing strategy can appear in a great role when it comes to accommodating any property with tenants. With social media and search engine local ads, the manager can effortlessly invite tenants at the best rental amount. Here, he can leverage on the cosmetic enhancements of the place in the ads that maximizes the rental income.

  • Tax assistance

Managing property tax is a challenging job, which the experienced property management companies can easily carry out. With the industry experience, they can come with the expert advices on claiming deductions and procuring essential supporting papers & forms to avail the tax return claims. Do find out if the property management is taxable or not.

  • Elevate values of the asset

The property is something whose value continues to go up over time. The need is to seek advice timely on this matter from the professional property assistant. Being aware of the local market, they know the exact value or how much it has increased and what the scope of increment in its value is. Ask for their opinions on how you can enhance the rental income or its overall value.

  • Fill up the gap between tenant & landlord

People often hire the professional caretaker of their property for conveniently and more often interact with tenants. The middleman is able to conveniently represent the owner over the phone or in-person for listening to their concerns and issues related to the real-estate. He can hold them back from making false excuses or creating emotional drama for postponing or delaying rent payments.

  • Bring rental benefits with peace of mind

A support in any form is a blessing. The real estate assistants are likewise, as they monitor the passive source of income (rental income) for owners. Despite being not-so-easy, they combat all hassles or troubles that come their way while overseeing the residential rental and maintenance. He bears all legal responsibilities to credit it to the account of owner & accommodating new tenancy quickly.

If you have any concerns related to property monitoring, Services 2 NRI is here to provide a professional assistance anywhere.

utility-bill-payment
How NRIs Can Pay Utility Bills?

How NRIs Can Pay Utility Bills?

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NRI property management sounds easy but it is not. What if the tenant is not ready to either pay off rent or vacate the house? This situation is the most critical and troublesome because owner has to land here in India for taking legal action against the tenant. If the owner NRI is fortunate to have a good tenant then another fear factor penetrates his mind. This is of land mafia, who claims illegal right over his land. If so happens, he has to forget his right over his property for free. …

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