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Residential Property Management in India


Residential property management in India is becoming popular. This is because it helps you to manage your residential property well even if you are not living in the city where you have your property. Some of the tasks related to residential property management include maintenance and repair work, maintaining accounts, payment of property taxes, giving the property on lease or rent (if you so desire), maintaining the safety of your house, fire security etc.
Residential property management in India is not just limited to homes with a permanent foundation; it applies to mobile homes too. Owning/buying a home is often an investment that is made in a lifetime. So, it is essential that you safeguard the same. The main aim of hiring residential property managers is to make your investment worthwhile.
Residential property management in India – salient features
The tasks that will be performed by the property managers usually depend on the responsibilities you have entrusted the property manager with. These are usually recorded in the agreement that is worked out prior to hiring the residential property management company. Not all property managers may offer all services.
Residential property management in India includes management of homes, manufactured homes, and apartments etc. You may come across few property managers that take care of only rental part while few others may help you in maintenance and repair only.
How to hire residential property managers?
Since there are several residential property managers operating in the country, it is very important to choose one that will give you true worth of your cash. There is another aspect that you need to keep in mind.
Since the concept of residential property management in India is fast catching up, you may come across many such companies that disguise themselves as property managers but you hire the company only to find that they are here to get your money. So, before you hire the services of a property manager, make sure you pay heed to the following aspects. Check them out –
  • Find out what are the things that they will do for you. It is very important to know the areas they will include in their tasks.
  • Mode of payment – Many residential property management companies charge a lump sum every month. Few of them will charge a percentage of the rent collected from the house. Property management companies will help you to collect rent on your behalf.
  • Many property management companies in India will require you to sign a contract for a stipulated time period. Read the fine print before you put your signature. There is one disadvantage of entering into a contract. If you don’t like the services offered by the company, you will have to shell out your hard earned cash against your wish.
  • The company should have a good track record. Don’t allow them to hoodwink you.
Residential property management in India can help you with your real estate needs even if you are not in town. The most important aspect is to identify your requirements and assign the same task to a trustworthy residential property management company in India.