PropertyAngel | Property Management in Bangalore
  • Property Owners
  • List your Home
  • Tenants
  • Awards
  • Podcast
  • Contact Us
  • Property Owners
  • List your Home
  • Tenants
  • Awards
  • Podcast
  • Contact Us

Property Management in the city of Dreams

21/12/2018

12 Comments

 
Mumbai, similar to Bangalore, has a significant number of NRI investments. These increased drastically as the city expanded. With properties belonging to absentee owners, arose the need for professional property management, and a few players sprung up. Besides PropertyAngel, the others to note who are serving this market are PropertyProctor, Azuro, Simplelease among others. 

Here is a lowdown on the way most management companies in  the city operate:


Service List:

Some management companies, like us - PropertyAngel - provide best management services in Mumbai. We do not do sales or other commission based services. However, several companies in the city provide regular brokerage services alongside. Understanding this difference will help you gauge the level of professionalism in management, as well as focus that you can expect. 

Scope of Property Management: 

The general scope of property management includes:
  • Inventory management, which includes ensuring that the state of the property is completely accounted for when taking the property on from the owner, handing over to any tenant, exiting a tenant, or handing back to the owner. The property should be maintained in the same state, and the responsibility of this rests with the property manager.  
  • Tenant management: This includes finding a tenant, verifying their background, negotiating, managing their move-in, renewals, exits, and ensure they keep the property secure and well maintained. 
  • Accounting management - This includes deposit, rent collection, payments to vendors, associations, etc, creating a statement of account for every property and ensuring that all receipts and payments are documented. 

Some of the companies provide the entire gamut of services, where as several others provide primarily tenant placement services. It is important to understand what scope of services the company will provide before you shortlist one, and ensure that it matches with your expectations. 

Charges: 
​

Most property management companies charge a management fee which is usually 30 days of rent per year, with the following difference
  • Schedule of Payment: Some charge it as an EMI and ONLY when rent is received. This way the owner has no upfront cost and pays the charges on an ongoing basis only when the service is delivered. However, there are others who charge this as soon as the tenant is placed. The disadvantage is that you have paid the fee upfront even before most services can be delivered, but the advantage is that the rent will have no deductions. 
  • Amount of charges: Most companies will charge 30 days of rent, which is equal to 9% on a monthly basis. Some charge 30 days only for placing the tenant, and an additional management fee of 15 days of rent, which is equal to about 4.5% on a monthly basis. 
 
Responsibility & Ownership: 

You should be able to gauge the level of responsibility when understanding the charges. If the company charges primarily for tenant placement, then they act as brokers and the level of professional management you will get will be less compared to a focused provider. However, if the company charges for an ongoing management, and you are looking for more than just a tenant, then this might be your best bet. For example, a good question to ask is who is responsible for collecting rent? If the company collects the rent, then they undertake the additional responsibility of following up with the tenant to ensure payment of the same. However, if they simply collect rent cheques and deposit the same in the owner's account, then who takes responsibility in case of a bounce?  These are important questions to ask upfront.


Who is the customer? 

You would think and expect that for a property management service, the owner is the primary customer. In this case, a good question to ask is whether the company charges the tenant? If they do, then there is a conflict of interest. You want to work with a company that will protect your interest against all odds. 




Picture
12 Comments
architecture design services in Hyderabad link
15/2/2019 11:41:05 pm

Your style is so unique compared to many other people. Thank you for posting the article. YV Reddy Design Services is a design company offering architectural drawings for extensions, conversions, new build, garages, conservatories, loft conversions, barn conversions, planning and building regulation drawings, change of use, listed buildings to clients throughout the local Wiltshire and surrounding area.

Reply
Nest Habitation link
16/4/2019 03:25:35 am

Appreciate the write-up & a must-read for home buyers. Thanks for sharing all about property management. Each and every point is so helpful.
So, If you expect to get possession of your home in time, no project delays, cost-effective purchase, affordable property prices, good construction quality and a secure living in the new villa/house, then you can definitely go for Nest Habitation (http://www.nesthabitation.com/) which have the perfect house/villa for you at a perfect location and will provide the right motivation to home buyers.

Reply
yuvaraj link
13/6/2019 11:30:35 am

Nice insights on Property management , yes, it was one of the upcoming services in India

Reply
POTTER link
30/6/2019 09:43:22 pm

thanks for the information!


<a href="https://www.spacesindia.net">Commercial office space in Bangalore</a>

Reply
Rahul link
19/8/2019 09:59:37 pm

I was scrolling the internet like every day, there I found this article which is related to my interest. The way you covered the knowledge about the subject and the <a href="https://agrawalconstruction.com"rel="dofollow">2 BHK Flat in Ayodhya bypass Road</a> was worth to read, it undoubtedly cleared my vision and thoughts towards B <a href="https://agrawalconstruction.com"rel="dofollow">4 BHK Flat in Ayodhya bypass Road</a>. Your writing skills and the way you portrayed the examples are very impressive. The knowledge about <a href="https://agrawalconstruction.com"rel="dofollow">3 BHK Flat in Ayodhya bypass Road </a> is well covered. Thank you for putting this highly informative article on the internet which is clearing the vision about top builders in Bhopal and who are making an impact in the real estate sector by building such amazing townships.

Reply
Matt link
23/8/2019 12:37:16 pm

Interesting stuff! I'll probably share this with some of my friends. Thanks again for posting it.

Reply
deepraj link
17/10/2019 03:41:34 am

Property Registration in India is governed by Section 17 of Registration Act, 1908. This Act is applicable to whole of India except the state of Jammu & Kashmir. It refers to registering the changes in ownership and transactions related to the land/ immovable property.
https://vakilsearch.com/advice/property-registration/

Reply
Shruthi Das link
7/11/2019 02:26:48 am

<a href="http://www.hmconstructions.com/"> Residential Projects in Bangalore</a> | <a href="http://www.hmconstructions.com/"> Luxury Apartments in Bangalore</a> | <a href="http://www.hmconstructions.com/"> 3BHK Flat in Kanakapura Road </a>

Reply
Raksha property management link
20/11/2019 11:24:32 pm

https://rakshapm.com/

Reply
dey vakil link
3/12/2019 01:28:18 am

Agricultural and Processed Food Products Export Development Authority (APEDA) was established by the Government of India under the Agricultural and Processed Food Products Export Development Authority Act

Reply
Nagendra link
2/10/2022 10:32:14 pm

There is a lot of essential information in your article, and this is great information for real estate investors. Investors will feel more confident about investing in real estate after reading this article.

Reply
Prema
4/10/2023 07:34:54 am

I appreciate the practical tips and actionable steps you've provided in your post. They make it easier for readers to implement the advice. <a href="https://lnt-seawoods.project-info.in/?d=OTAwNDMzMzI3NA==" target="_blank">click here</a> for more insights.

Reply



Leave a Reply.

    Archives

    December 2024
    November 2024
    October 2024
    July 2024
    June 2024
    May 2024
    February 2024
    January 2024
    December 2023
    September 2023
    August 2023
    July 2023
    June 2023
    May 2023
    April 2023
    March 2023
    February 2023
    January 2023
    December 2022
    November 2022
    October 2022
    September 2022
    August 2022
    July 2022
    June 2022
    May 2022
    May 2021
    March 2021
    February 2021
    January 2021
    December 2020
    November 2020
    August 2020
    July 2020
    June 2020
    May 2020
    December 2018
    March 2018
    November 2017
    October 2017
    September 2017
    August 2017
    October 2016
    July 2016
    December 2015
    July 2015
    June 2015
    March 2015
    November 2014
    July 2014
    May 2014
    September 2013
    May 2013

    Categories

    All
    Covid
    Mumbai
    Property Management
    Video Blog

    RSS Feed

PropertyAngel is a leading property management company, headquartered in Bangalore. It is the most trusted property management company, that provides personalized tech-enabled services. 
 (c) 2025 PropertyAngel. All rights reserved. | Privacy Policy | Terms & Conditions
Call us: 91-7406484455 (also on whatsapp)
Bangalore Headquarters:
PropertyAngel Management Pvt Ltd
570/571 16th A Main road, Koramangala 3rd block,
Bangalore - 560034, India
https://www.propertyangel.in

Open Hours:
  • Monday-Saturday: 9:30am IST - 7:30pm IST
  • Sundays: 10:30am IST - 6:30pm IST
Useful Resources ​
  • The property Management Blog
  • Build a career in Property Management
  • Work with PropertyAngel
  • PropertyAngel Referral Benefits
  • How the Property Management Process works
  • How much do property managers charge every month? 
  • ​7 things to consider while selecting the Best Property Management Company
  • What does a Property Manager do?
  • Recommended format for Property Management Agreements
  • How do I choose a good Property Manager? 
  • NRI property management services 
  • Zoho Case Study on Property Management & PropertyAngel award
  • Rent a property managed by a property management firm. ​
  • Propathon 
  • Awards
  • Technology at PropertyAngel
  • B2B apps for the real estate industry