Property Maintenance Checklist

Prioritise the Basics 

You should start by prioritising regular cleaning tasks. These include dusting and vacuuming all surfaces, sweeping and mopping the floors, and cleaning windows and mirrors. Pay special attention to high-traffic areas and frequently touched surfaces like doorknobs, light switches, countertops, etc. Use microfibre cloths and environmentally-friendly cleaning products to minimise the use of harsh chemicals and reduce environmental impact.

With our busy lifestyles, finding time to clean and maintain a property can be challenging. You can keep your property well maintained by hiring property maintenance services.

Deep Cleaning and Organisation

Besides regular cleaning, it is important to schedule deep cleaning sessions to tackle areas that are often overlooked. This includes cleaning upholstery, carpets, and curtains to remove embedded dirt and allergens. Remember to rotate and vacuum mattresses to maintain their cleanliness and longevity. Clear out and organise closets, cabinets, and storage spaces to maximise efficiency and reduce clutter.

Property maintenance services cover various aspects of cleaning, from regular dusting and vacuuming to deep cleaning and stain removal. 

Bathroom and Kitchen Care
 
The bathroom and kitchen are two areas that require special attention due to their susceptibility to germs and bacteria. In the bathroom, thoroughly clean and disinfect toilets, sinks, showers, and bathtubs. Remove mold and mildew from tiles and grout using appropriate cleaning products. Regularly wash bath mats, shower curtains, and towels to maintain hygiene.

In the kitchen, focus on cleaning appliances, wiping down surfaces, disinfecting sinks, cutting boards, and countertops. Pay extra attention to the refrigerator, oven, and microwave, as well as the inside and outside of cabinets and drawers.  

Property maintenance services have the required skills, knowledge, and training to manage a wide range of cleaning chores. 

Outdoor Maintenance  

Don't forget to extend your property maintenance checklist to the outdoors. Regularly clean and maintain outdoor spaces such as patios, decks, and driveways. Sweep away debris, trim overgrown vegetation, and keep the gutters clean to prevent water damage. Consider pressure washing exterior walls and windows to restore their shine. If you have a garden or lawn, make sure to mow the grass, prune plants, and remove weeds regularly to keep the outdoor area looking neat and tidy.  

Property maintenance services ensure a clean, well-maintained, and healthy living environment.

Seasonal Tasks  

Seasonal cleaning tasks are an important part of property maintenance. These include deep cleaning carpets and rugs, cleaning air conditioning filters, and inspecting and cleaning chimneys before the winter season. In spring, focus on decluttering and organising, as well as cleaning windows, screens, and blinds to let in the fresh air. Autumn is a good time to clean gutters, check the weather stripping, and prepare outdoor areas for colder weather. 

Property maintenance services conduct routine inspections to quickly identify and address any maintenance issues.  

Property Maintenance Tips and Tricks

Utilise Effective Cleaning Techniques 

Besides having a checklist, applying effective cleaning techniques can make your maintenance routine more efficient. For example, when dusting, start from the top and work your way down to avoid recontamination of surfaces. Use the "S" motion when wiping surfaces to remove dust and grime effectively. For stubborn stains, let cleaning solutions sit for a few minutes before scrubbing to allow the product to penetrate and loosen the dirt. When cleaning windows, try using a vinegar and water solution for streak-free results.

Pay Attention to Air Quality 

Maintaining good air quality is essential for a healthy living environment. Regularly change HVAC filters to prevent the buildup of dust, pollen, and other allergens. Clean air vents and ducts to improve air circulation. Consider using air purifiers to remove airborne particles and allergens. Open windows occasionally to let in fresh air and promote ventilation. All these measures contribute to cleaner and healthier indoor air.

You can schedule regular inspections for your ventilation, heating, and air conditioning (HVAC) systems with property maintenance services.

Don't Neglect Neglected Areas 

Certain areas in a property often go unnoticed during regular cleaning routines. This may include light fixtures, baseboards, behind appliances, under furniture, etc. These overlooked areas can harbour dust, dirt, and germs. By paying attention to these often-overlooked spots, you can maintain a cleaner and healthier living space.

Implement Green Cleaning Practices  

Opt for environmentally-friendly cleaning products that are non-toxic and biodegradable. Consider making your own cleaning solutions using natural ingredients like vinegar, lemon juice, baking soda, etc. The alternatives are not only safer for you and your family but also better for the environment. Also, choose cleaning tools and equipment made from sustainable materials like microfibre cloths, reusable mop pads, etc.

Take the first step towards hassle-free property maintenance today! Contact us at (91-80-47095974) or (91-7406484455) for our professional property maintenance services and experience the benefits of expert care for your property. 

About PropertyAngel

PropertyAngel is an award-winning second landlord platform, headquartered in Bangalore with an AUM of Rs. 1500 crores. Incorporated in 2014, PropertyAngel's tech-enabled real estate asset management services for individual apartments, villas and houses, have won awards from Zoho, grants from Facebook, and been recognized several times as among the top 10 property management companies in India.​

Set an Optimal Rental Price

The key to maximising rental income is thorough market research. Understand the local rental market, rental rates, and the demand for properties in your area. Analysing rental trends and comparing your property to similar listings will help you set a competitive rental price. The right rent will ensure that your property remains occupied and generates optimal income.

A rental management company can help you with market research and price analysis.    

Upgrade and Maintain Your Property

Investing in your property can pay off in the long run by attracting high-quality tenants. Therefore, consider making upgrades that will enhance the appeal of your rental property. This may include modernising the kitchen or bathroom, installing energy-efficient features, adding attractive landscaping, etc. Regular maintenance and repairs are also critical for preserving the value of your property and minimising vacancies.

A rental management company has a network of trusted vendors to handle repairs and improvements quickly. 

Market Your Property Effectively

Effective marketing plays an important role in maximising rental income. Therefore, you need to create compelling property listings that highlight the benefits and unique features of your property. Use high-quality pictures and videos to showcase your rental property. Use real estate portals, social media, and local advertising channels to reach a larger audience. You can also offer incentives like flexible lease terms or reduced move-in costs to attract potential tenants.

Screen Tenants Thoroughly 

You need to implement a thorough tenant screening process, which may include background checks, credit checks, employment verification, contacting previous landlords, etc. By choosing responsible and financially stable tenants, you reduce the risk of late payments, property damage, and eviction.  

You can outsource the tenant screening process to a rental management company. They have experience evaluating potential tenants and can find trustworthy people who will keep your property well-maintained and pay their rent on time. 

Implement Fair Rent Increases 

You must periodically review and adjust the rent to keep up with the market. However, it's also important to implement fair rent increases that align with local laws and regulations. Gradual, incremental increases are usually better received by tenants and can help you maintain a positive landlord-tenant relationship. 

Reduce Vacancy Periods 

Minimising vacancies is another crucial factor when maximising rental income. You can do this by responding to tenant requests quickly, making necessary repairs, and keeping the lines of communication open to encourage tenants to renew their leases. Consider offering incentives like lease renewal bonuses or rent discounts for longer lease terms to encourage tenant retention. Besides, you can hire a professional rental management company to streamline rental processes and reduce vacancy periods. 

Increase Revenue Streams 

You can also think about diversifying your revenue streams beyond rent payments. Explore additional income sources like installing vending machines, offering on-site laundry facilities, or charging for additional services like parking spaces, storage units, etc. However, be mindful of local regulations to make sure these additional revenue streams align with the needs and preferences of your tenants.   

Energy Efficiency and Cost Reduction

Energy-efficient measures can lower utility costs, attract eco-conscious tenants, and maximise rental income. Therefore, consider upgrading to energy-efficient appliances, installing smart thermostats, and improving insulation to reduce energy consumption and lower expenses. Moreover, responsible utility management can offer competitive rent prices while maintaining profitability. 

Long-Term Lease Agreements

Long-term lease agreements provide stability and can benefit both landlords and tenants. By securing longer lease terms, you reduce the risk of frequent turnover and vacancy periods. Also, longer leases often allow you to charge a slightly higher rent price, further maximising your rental income.

Stay Informed and Adapt

The rental market is dynamic, and staying informed about industry trends, legal regulations, and economic shifts is important. Continuously educate yourself about the latest best practices and seek professional advice from a rental management company. By adapting your strategies based on market demands and tenant preferences, you can position yourself as a reputable landlord and maximise your rental income over the long term.  

Final Words

Maximising rental income requires strategic planning, property maintenance, effective marketing, and tenant management. You need to stay proactive, stay informed, and continuously look for ways to improve your property's value. With these smart strategies, you can enhance your profitability as a property owner, regardless of your background or level of experience.   
However, if you want to live a stress-free life as a property owner, consider hiring a rental management company. 

About PropertyAngel

PropertyAngel is an award-winning second landlord platform, headquartered in Bangalore with an AUM of Rs. 1500 crores. Incorporated in 2014, PropertyAngel's tech-enabled real estate asset management services for individual apartments, villas and houses, have won awards from Zoho, grants from Facebook, and been recognized several times as among the top 10 property management companies in India.​​

Why You Should Invest in Vacation Homes 

There are many reasons why vacation homes are one of the best real estate investment options. Here are a few:                                                                                           

High potential for rental income

 Vacation homes are typically rented out to travellers and tourists looking for short-term accommodation. Therefore, vacation homes have a high potential for rental income, especially during peak holiday seasons. In India, several popular vacation destinations, like Goa, Kerala, Himachal Pradesh, etc., attract many tourists throughout the year. By making the best real estate investments in one of these destinations, you can generate a steady stream of rental income.   

Capital appreciation

Like any other best property investment, vacation homes have the potential to appreciate over time. In India, the demand for vacation homes is rising due to the increasing popularity of domestic travel and the growth of the tourism industry. Therefore, the value of your vacation home is likely to increase over time, providing you with a good return on investment.               

Tax benefits

​ Investing in a vacation home in India can provide several tax benefits. For example, if you purchase a vacation home as your second home, you can deduct the interest paid on the home loan used to purchase the property. You can also claim deductions for property taxes, maintenance costs, and other related expenses on the best real estate investments.

Diversification of investment portfolio

 Investing in a vacation home can help you diversify your investment portfolio. The best real estate investments are often considered a stable and secure investment option, and by investing in a vacation home, you can spread your investment risk across different asset classes. 

Factors to Consider When Choosing a Vacation Home for Investment  

While investing in a vacation home is one of the best real estate investments, there are several factors to consider before making a decision. Here are some of them: 

Location 

​The location of your vacation home is one of the most crucial factors. A popular vacation destination that attracts a large number of tourists throughout the year would make the best real estate investment. Additionally, the property should be easily accessible from the nearest airport or railway station.

Accessibility

The vacation home should be easily accessible from the nearest city or town. Therefore, the property should have easy access to public transportation and other amenities like hospitals, restaurants, shopping centres, etc.    

Legal Considerations

Before investing in a vacation home, it's important to make sure that the property is legally compliant and has all the necessary approvals and permits. Additionally, you should be aware of the local laws and regulations related to property ownership and rental income. 

Popular Locations for Vacation Home Investments in India  

Many popular vacation destinations in India attract tourists from all over the world. Here are some of the most lucrative places in India for vacation homes:   

Hill stations

Some popular hill stations in India include Shimla, Manali, Darjeeling, Ooty, etc. These locations offer cool and pleasant weather, breathtaking views, and a perfect peaceful environment for a relaxing vacation. Also, many of these hill stations offer adventure activities like trekking, skiing, and paragliding, which attract adventure enthusiasts throughout the year.

Beach destinations

Beach destinations in India include Goa, Kerala, and the Andaman and Nicobar Islands, etc. These locations offer warm weather, sandy beaches, and a range of water sports activities like scuba diving, snorkelling, and surfing.

Heritage cities

These cities attract tourists interested in exploring the country's rich history and architecture. Jaipur, Agra, and Varanasi are some of the famous heritage cities in India.

Other emerging vacation home markets

Besides popular vacation destinations, many emerging vacation home markets in India offer good investment opportunities. For example, cities like Pune, Bangalore, and Chennai are seeing a growing demand for vacation homes due to the increasing number of business travellers and expats.

Risks and Challenges of Investing in Vacation Homes in India 

There are several risks and challenges to investing in vacation homes. Here are some of them:

Seasonal fluctuations

Since demand for vacation homes is often seasonal, rental income can vary depending on the time of year. For example, beach destinations may see a surge in demand during the summer months, but the demand may drop during the monsoon season.

Property management and maintenance 

Maintaining a vacation home can be challenging, especially if you live far away from the property. However, hiring a property management company can make that job easy for you.  

Competition from other vacation rental properties

Vacation homes are often in direct competition with other vacation rental properties in the same location. Therefore, you must offer competitive pricing and high-quality amenities to attract tenants.  

Final Words

Vacation homes can be one of the best real estate investments, especially in India, where the demand for vacation homes is on the rise. Considering the above factors, you can make a wise decision and enjoy the benefits of owning a vacation home in India.  

About PropertyAngel

PropertyAngel is an award-winning second landlord platform, headquartered in Bangalore with an AUM of Rs. 1500 crores. Incorporated in 2014, PropertyAngel's tech-enabled real estate asset management services for individual apartments, villas and houses, have won awards from Zoho, grants from Facebook, and been recognized several times as among the top 10 property management companies in India.
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Sale Deed or Conveyance Deed

The sale deed or conveyance deed serves as proof of property ownership. It is a document signed between the buyer and the seller during the property sale transaction. The sale deed outlines the terms and conditions of the sale, which include the purchase price, payment terms, and other relevant details. It also describes the property, including its boundaries and location.

It's mandatory to register the Sale Deed in the Sub Registrar office in whose jurisdiction the property is located within 4 months from the date of execution. If not, you need to pay a penalty, or it stands invalid.     

RTC Extracts

The RTC or Record of Rights, Tenancy and Crops is a document issued by the Village Accountant in India. It contains important details about a particular survey or sub-survey number of land. This includes information on the size of the land, any non-arable land within it, the current and previous owners of the land, their holdings and tenants. 

The RTC also provides information about the kind of soil and crops grown, any mortgages or charges made on the property, and its status as either Inam land or not. It also includes details about any conversion orders for changing the property from agricultural to non-agricultural use and references to inheritance and mutation certificates in case of any change in ownership.

Khata Certificate and Extracts

A Khata is an account of a person who owns property in a city, and it comes in two forms: Khata Certificate and Khata Extract. It confirms that a property is constructed as per the approved plan and is recorded by the local municipal committee. 

A Khata Certificate is necessary for registering or transferring any property and can be obtained from the Assistant Revenue Officer of the area after paying taxes. It is required for getting water and electricity connections, trade and building licenses. 
The Khata Extract contains property details like its size, use, and annual value and is necessary for getting a trade license or purchasing a property. 

Mutation Register Extracts

A Mutation Extract is a document issued by the Village Accountant or the Tahsildar. It contains information extracted from the mutation register or inheritance certificate, including details about the previous and present property owners, how the property was acquired, the total size of the property, and an order stating that the Khata of the property can be transferred to the name of the present owner.    

Power of Attorney

A POA is a legal instrument in which one person delegates authority to another person to act as his/her legal representative and make lawful binding financial and legal decisions on his/her behalf, including the sale or purchase of property on the buyer's or seller's behalf.  

No Objection Certificate

Builders are required to obtain a No Objection Certificate (NOC) from all the key government departments before starting the construction of a building. The number of departments from which an NOC is required can vary by state, but it can be as many as 19 departments, ranging from Pollution Control Board to Fire and Safety. Therefore, obtaining NOCs from all the necessary departments is important.   

Allotment Letter from the Builder/Housing Board/Co-Operative Society

When an individual takes a bank loan to purchase a property, the builder or housing society provides an Allotment Letter to the buyer, which contains the details of the property being sold and bought, as well as the amount of money that the buyer has already paid to the builder or housing society, so that the bank can finance the remaining amount. The Allotment Letter also provides details of the project and the property being purchased.

The Allotment Letter is issued on the Letterhead of the concerned authority. Only the first owner receives the Allotment Letter from the builder, but subsequent owners can request a copy of the original allotment letter from the previous owner.   

Sale Agreement between Builder and 1st Owner

The Sale Agreement is a very important property document that outlines the responsibility of the builder to construct the property according to approved plans and specifications. It includes details such as the tentative possession date, the price to be paid by the purchaser, and the payment intervals based on the construction stage. The document also specifies the nature of the association, common areas and facilities, undivided interest in the common areas, and the intended use of the apartment.   

Construction Agreement between Builder & 1st Owner

The construction agreement outlines the terms and conditions of the construction work for an apartment or property. It involves the transfer or sale of goods related to the execution of the work. The agreement specifies the work to be done, the materials to be used, the cost of the project, and the time frame for completion. Once the construction is completed, the ownership of the finished work and the materials used in it are transferred to the person for whom the work has been done.   

Copy of Possession Letter from the Builder

The letter ensures that possession of the building is delivered to the purchaser on the effective date.

Occupancy Certificate

The occupancy certificate is issued to a builder after the completion of a construction project. It is granted after an inspection to confirm if the building has been constructed as per the plan approved by the local authority. This certificate is an important document that a builder must obtain before allowing people to take possession of the property. 
 

About PropertyAngel

PropertyAngel is an award-winning second landlord platform, headquartered in Bangalore with an AUM of Rs. 1500 crores. Incorporated in 2014, PropertyAngel's tech-enabled real estate asset management services for individual apartments, villas and houses, have won awards from Zoho, grants from Facebook, and been recognized several times as among the top 10 property management companies in India.
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Tenant disputes are an inevitable part of property management and can be time-consuming and stressful. Whether it's a noise complaint or a disagreement over something, tenant disputes can quickly escalate and cause significant headaches. Fortunately, a property management company navigates these disputes and minimises the impact on their client's business. In this post, we'll explore how property management companies handle tenant disputes.   ​

Steps Property Management Companies Take To Resolve Tenant Conflicts

First off, it's important to understand that property management companies are responsible for managing the rental property on behalf of the landlord. Thus, they have the authority to handle any issues between tenants.

The property management company usually has a set of policies and procedures in place to handle disputes between tenants. These policies are designed to be fair and impartial, with the goal of resolving the issue as quickly as possible. When a dispute arises, the property management company will typically take the following steps:

Listen to Both Parties

​The first step is to listen to both parties involved in the dispute. Each tenant will have their version of events, and it's important to give them both an opportunity to speak. The property management company will take notes on what each person says and ask follow-up questions to understand the situation clearly.   

Gather Evidence

Once the property management company has listened to both parties, they'll start gathering evidence. This may include reviewing lease agreements, talking to witnesses, checking security camera footage, etc. Gathering evidence is crucial to establish the facts of the case so the company can make an informed decision. 

Evaluate the Situation

After gathering evidence, the property management company will evaluate the situation. They'll take into account each tenant's story, the evidence gathered, and any applicable laws or regulations. This evaluation will help the property management company decide what action needs to be taken. 

Take Action

Finally, the property management company will take action. This could mean talking to one or both tenants about the issue, issuing a warning, or taking more drastic measures, like eviction. The action taken will depend on the severity of the dispute.   

It's worth noting that the property management company must follow state laws when resolving disputes between tenants. For example, they can't discriminate against a tenant based on their race, religion, or gender. They also can't retaliate against a tenant for complaining about an issue or exercising their legal rights. 

In some cases, the dispute may be beyond the scope of the property management company. For example, if the dispute involves criminal activity, the police need to be involved. In these cases, the property management company will work with the police to resolve the issue.  

Preventing Disputes Between Tenants

Of course, the best way to handle disputes between tenants is to prevent them from happening in the first place. Therefore, property management companies take a proactive approach to prevent disputes by:

Clear Communication

Clear communication is key to preventing disputes between tenants. The best property management companies in Bangalore are transparent about the rules and expectations of the property. They also encourage tenants to communicate any issues or concerns they may have.  

Regular Inspections

Regular property inspections help identify potential issues before they become major problems. That's why property management companies in Bangalore inspect the property on a regular basis to make sure that everything is in working order.

Encouraging Respectful Behaviour

Property management companies encourage respectful behaviour among tenants. This includes setting expectations for noise levels, cleanliness, and other behaviours that could cause conflict between tenants. 

Final Words

Disputes between tenants are a common issue in rental properties. That's why property management companies play a crucial role in managing these disputes. Their proactive approach prevents disputes and, if something happens, effectively resolves disputes between tenants in order to create a pleasant living environment for all tenants.

About PropertyAngel

PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. Contact us at (91-80-47095974) or (91-7406484455) if you need guidance on how to invest in the right property in Bangalore.

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How are capital gains from property sales taxed to NRI?

An NRI who wants to sell residential property in India must pay Capital Gains Tax. The tax payable on capital gains depends on whether the gain is short-term or long-term.   

When a house property is sold after 2 years (reduced from 3 years to 2 years in Budget 2017), there is a long-term capital gain (LTCG). There is a short-term capital gain (STCG) if it's held for less than 2 years. In the case of inheritance, NRIs face tax implications as well. 

How much tax is payable

For NRIs, LTCG is taxed at 20%, while STCG is taxed at the applicable income tax slab rates based on total income taxable in India.

TDS deductible

When NRIs sell property, a TDS of 30% is applicable if the property is sold within two years from the date of purchase. Similarly, a TDS of 20% is applicable if the house property is sold after 2 years.  

NRIs can claim exemptions under Sections 54 and 54EC on LTCG from the sale of residential property in India. 

Exemption Under Section 54

It's available when NRIs make a long-term capital gain on the sale of their house property. The house may be self-occupied or rented. Please remember that you only need to invest the amount of capital gains, not the entire sale receipt. Of course, the cost of the new property may be greater than the amount of capital gains. However, your exemption will be limited to the total capital gain on the sale.  

You can also buy this property 1 year before the sale/2 years after the sale of your property. You may also invest the gains in the construction of a new house property, but the construction of that property must be completed within 3 years from the date of sale. 

Also, to claim this exemption, the 2014-15 Budget clarified that only ONE residential house property can be purchased or constructed with capital gains.

In addition, starting from the assessment year 2015-16 (or fiscal year 2014-15), this new house property must be located in India. The exemption under section 54 will not be available for properties purchased or built outside of India. (Remember that you can't claim this exemption if you sell this new house property within 3 years from its purchase). 
                     
Exemption Under Section 54F

It's available when there is a long-term capital gain from selling any capital asset other than a residential house property. To qualify for this exemption, the NRI must construct one house property within 3 years of the date of transfer or purchase one house property within 1 year from the date of transfer of the capital asset. Also, this new house property must be in India and can't be sold within 3 years of purchase or construction.

Also, apart from the new house, the NRI shouldn't own more than one house property, nor should the NRI purchase within 2 years or construct within 3 years any other residential house. 

In this case, the NRI must invest the entire sale receipt. Capital gains are fully exempt If the entire sale receipt is invested. If not, the exemption is allowed proportionately.

Exemption under section 54 EC

You can save the tax on your LTCG by investing them in certain bonds. Bonds issued by the Rural Electrification Corporation (REC) or the National Highway Authority of India (NHAI) have been specified for this purpose. These are redeemable after 5 years (3 years before 2018) and must not be sold before 5 years (3 years before 2018) from the date of sale of the house property.

It's important to note that you cannot deduct this investment under any other circumstances. You have 6 months to invest in these bonds. However, to claim this exemption, you must invest before the return filing date. 

In a financial year, you can invest a maximum of Rs 50 lakhs in these bonds as per the 2014 Budget. To avoid TDS on capital gains, the NRI must make these investments and provide relevant proof to the buyer. The NRI can claim a refund for excess TDS deducted when filing their return.  

About PropertyAngel

PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. Contact us at (91-80-47095974) or (91-7406484455) if you need guidance on how to invest in the right property in Bangalore.

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Tenant Screening

Property management companies help landlords with tenant screening by conducting thorough background checks, credit checks, and employment verification on potential tenants. These checks analyse a tenant's financial stability, rental history, criminal background, etc.  

These property management services help landlords avoid potential issues with tenants like late rent payments, property damage, or evictions. It also ensures that the property is occupied by responsible and reliable tenants who will pay on-time rent and take good care of it, which is critical for maintaining the property's value.   

Rent Collection

For landlords, collecting rent can be time-consuming and stressful, especially if tenants are late with payments or fail to pay. As part of their property management services, companies handle rent collection on behalf of the landlord. They usually have in-built systems to collect rent on time and deal with late or missed payments quickly.

Property management companies make sure that landlords receive their rental income on time. Thus, it helps landlords avoid financial issues like late mortgage payments or missed bills and help them maintain a positive cash flow.  

Property Maintenance

Property maintenance includes both regular maintenance tasks like cleaning and landscaping, as well as repairs and maintenance due to wear and tear or damage. Typically, property management companies have a network of reliable contractors and vendors who can perform maintenance tasks and repairs as needed. 

Additionally, they also conduct regular inspections of the property to identify and address any maintenance issues beforehand to help prevent larger and more costly repairs in the future. Thus, their property management services maintain the property in good condition, which keeps tenants happy and satisfied with their rental experience. 

Tenant Relations

As a landlord, maintaining positive relationships with tenants is critical to make sure they're satisfied with their rental experience. Property management companies help landlords maintain positive tenant relations by acting as the second-landlord. 

Their property management services offer timely responses to tenant inquiries and provide assistance when needed. Besides, management companies also handle any issues that arise between tenants, like noise complaints, disputes over shared spaces, etc. Therefore, they make tenants sign a rental agreement to make sure all tenants adhere to the same rules and regulations.  

Marketing and Advertising

Effective rental property marketing is key to attracting reliable tenants and maintaining a low vacancy rate. Best property management companies in Bangalore have experience creating effective marketing campaigns and use multiple platforms to promote their properties, including the company website, social media, and real estate portals.

Additionally, their property management services help landlords set the right rental price for the property based on market trends, location, and other factors. Setting the right rental price is important in order to attract reliable tenants. 

Legal Compliance 
                                                                   
Landlords must follow local laws and regulations when dealing with tenants. Property management companies make sure landlords are compliant with all laws and regulations. They typically have experience and knowledge of the local laws and regulations that apply to rental properties, which can help landlords navigate complex legal issues. 

Similarly, they help landlords draft rental agreements that abide by all applicable laws and regulations. In addition, their property management services handle any legal disputes that arise between landlords and tenants. They also represent the landlord in court during the legal process if necessary.

Financial Management

Property management companies help landlords manage financial aspects by collecting rent from tenants, paying bills and expenses on time, handling disputes related to security deposits, etc.

In addition, their property management services include providing monthly financial statements and year-end tax statements. This helps landlords understand the financial performance of their rental property and make informed decisions about future investments. Also, it saves them time and helps them avoid the stress associated with managing finances on their own.

Peace of Mind

Property management services help landlords rest easy knowing that their rental property is being professionally managed and that their tenants are being taken care of. Therefore, landlords can focus on other aspects of life, such as work or family, without worrying about the day-to-day management of their rental property. This can improve their overall quality of life and reduce stress and anxiety associated with rental property management.

About PropertyAngel

PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. Contact us at (91-80-47095974) or (91-7406484455) if you need guidance on how to invest in the right property in Bangalore.

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The main goal of investing is to get the highest possible return. Real estate is a lucrative investment option and is growing rapidly year after year. Many millennials are interested in investing in real estate to either settle down or to get a good return on their investment. However, to make a profit, it is crucial to carefully analyse and invest in a developing location that is not yet on everyone's radar. ​

Chennai is one such location that offers promising investment opportunities and is considered one of the best metropolitan cities. Therefore, it's worth discussing why real estate investment in Chennai is more profitable than in other places.  

Real estate investment in Chennai is considered one of the most secure and profitable investment options, and there are several factors that make it a lucrative choice. Chennai is recognised as India's "Detroit" due to its thriving automobile industry, and it has experienced consistent economic growth over the past decade, which has made it an attractive market for investors. Here are some reasons why investing in Chennai is a wise decision:     

High Rental Yields

As the demand for properties in Chennai continues to rise, rental yields have also increased, making them incredibly higher than in other cities across India. Due to the significant rise in rental income, many individuals consider real estate investment in Chennai as a reliable source of regular income, which can provide long-term financial stability and benefits.  

Job Opportunities

Due to its thriving industrial sector and abundant job opportunities, Chennai is an ideal location to invest in real estate. The salaries offered in this city are higher than the national average. Also, government headquarters, logistics, manufacturing, industrial services, and IT firms provide plenty of job opportunities. Therefore, real estate investment in Chennai is an attractive option for those seeking consistent income or future financial gain.

High ROI potential

The demand for residential properties in Chennai is high due to the influx of migrant workers and residents from other parts of India. Thus, it allows investors to make the most of their money and generate good returns in the future. The city's ongoing expansion and development plans make it a very attractive real estate investment destination. Residential properties in areas like ECR, OMR, Madhavaram, Ponamelle, and Arakkonam are in high demand and are trending residential properties in Chennai. 

Cost-effective real estate pricing

Chennai's real estate market is cost-effective and affordable compared to other metropolitan cities like Mumbai. For example, the price of a sea-facing plot in Chennai is much lower than in Mumbai. This makes investing in Chennai's real estate market a once-in-a-lifetime opportunity for those looking to make a fortune. 

Additionally, various investment opportunities are available in and around Chennai's work culture and entertainment zones like Ambattur and Arakkonam, located close to industrial estates; OMR, Ponammalle, and Thiruvanmiyur, located close to the IT industry; and ECR, known as Chennai's getaway destination, etc.

Strong economic growth

Chennai, the capital of Tamil Nadu, has a strong and diverse economy with various industries like manufacturing, IT, logistics, and healthcare. This economic growth has led to increased demand for housing in the city, contributing to its high economic growth. 

Tamil Nadu is the country's second-largest GDP contributor, with more than 60% of its population living in the cities. It is ranked as India's most economically free state and one of the top three states in electricity generation.  

Affordable property prices

As previously mentioned, property prices in Chennai are generally lower than those in other major Indian cities like Mumbai and Delhi, which makes it an attractive investment location. The outskirts and developing areas of Chennai are more affordable and have high growth potential. Once the construction is complete, investors can look for tenants, as there is a high demand for rental properties in Chennai. This high demand for rentals can result in positive rental yields for investors, making it an attractive option for those seeking long-term gains.

Good infrastructure and connectivity

Chennai has excellent transportation, healthcare, and education infrastructure, which makes it an attractive place for professionals and families to live. Again, each area has its own set of amenities, including prominent schools, hospitals, grocery stores, and shopping malls, providing convenience to residents.

Chennai's affordable property prices, combined with its strong economic growth, result in a high potential for positive rental yields, making the city a desirable investment destination. The city is well-connected through various modes of transportation, including government buses, TNSTC, local trains, and the metro, which is not only convenient but also cost-effective.

Besides, the government is investing heavily in infrastructure development to improve the city's overall quality of life, which further adds to its appeal. Overall, Chennai's growing population, strong economic growth, and competitive prices make it a desirable destination for real estate investment.    

About PropertyAngel

PropertyAngel is a leading O2O (online-to-offline) second landlord platform. We are a Bangalore-based property management company offering professional property management for individual apartments, houses, and villas. Contact us at (91-80-47095974) or (91-7406484455) if you need guidance on how to invest in the right property in Bangalore.

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