Living abroad leaves you with too little options to care for things back home by yourself. Even though you can keep in touch with business and people from far away, it’s not the same as being physically with them. A lot of NRIs run into such issues, which is why there are services such as property management, elder care in India and so on.
The hardest part is being able to manage your properties while being thousands of miles away from them, you cannot leave any individual to take care on your behalf. A professional care service is required in such cases. Opting for property management services can benefit a lot for NRIs who do not get enough chances to keep a tab on their belongings back home.
In this article, we outline the advantages of investing in property management services as an NRI.
Rent Management
Being a landlord, collecting the reset every month is a must if you want to avoid any issues or losses. But such things are not possible when you live far away. This could be due to being busy with your life and work abroad, and forgetting about these rents.
This is where a property manager can come in handy, as it is one of their primary services to collect rents from your properties on time. But this does not limit to just collecting monthly rent. It also includes, setting rent for a property or flat, collecting them every month and making necessary adjustments to them wherever required.
Tenant Management
Apart from collecting the rent on a monthly basis and other rent management services, a property management service will also take care of your tenants as well. This includes activities such as looking for ideal tenants for the property, managing quality services to them, handling any tenant complaints and so on. Their tenant management services will also include handling tenants leaving the property or evicting tenants with notices etc.
Maintenance
Another advantage of having a property manager is that they take care of all the maintenance and repair issues of your properties. This will include regular maintenance, emergency repairs, renovations and so on.
Here maintenance mainly aimed towards keeping the property fit for living and keeping every service available in the property in check. They do not physically do it themselves, but they will be responsible for hiring the maintenance and repair professionals who will take care of such issues.
It is also the responsibility of the property manager to hire a skilled professional, whenever there is a complaint from the tenants regarding repairs.
Understanding the Law
Almost every state or country has their own tenant laws, hence it is the responsibility of the property manager to abide by such rules when taking care of these properties.
For example, proper notice should be given when they ask someone to evict the house or flat. Adequate time pre-determined by the law must be followed.
Supervising
Having a property manager does not mean they?ll only take care of your properties. These managers are also responsible for supervising the employees working under them. This includes employees such as security guards, valet, gatekeepers and so on. The property manager will manage the salaries, responsibilities and or hiring new employees for the job.
Going for property management for NRI in Hyderabad will also ensure that the managers are looking after any unfinished or ongoing construction and repairs. This includes looking after the workers and the repairmen, to ensure they are doing their job on time, as unfinished work will only pose inconvenience for current tenants.
