Emerging of NRI Property Management Service Providers

It’s a very big responsibility for an NRI to acquire a property back home in India. Not that the acquiring property is the tough part, keeping an eye on the property is even tougher.

What’s worrisome for an NRI is more than the maintenance of the property bought is the security issues that come along. Hence, here are a few tips which could help the individual understand why NRI property management is so important to have.

However, now, there are reputed NRI property management service providers which would help an NRI and make things easier. There are no more hassles for the NRI to bother about, because the property to be bought by the individual would be taken care of by the service providers, even if the owner isn't available in the country.

Security:

Security of the property and maintenance are the two most important topic of concern for anyone buying a property in foreign land. This is exactly a thought which runs in everybody’s mind when they buy a home, land or a large piece of real estate in India. If the property is of a low maintenance one, half the battle is won, since it wouldn’t bother the owner too much. However, if the NRI has invested in high maintenance property, and isn’t around to care for it, the value of the property would be depleted over time. Excessive maintenance would be needed, and this is why the individual buyer should think of hiring property management services.

If the bought property isn't being inhabited by the NRI, it would be best to rent it or lease it out. This ensures that the property is inhabited and untoward activities do not happen in this place. Where inhabitants stay, issues and troubles find no way to enter the place. Plus, the maintenance too would be taken care of, and there wouldn't be any non-functioning issues to bother about.

Rent it or Keep it?

Sometimes, owners aren't sure if they want to rent out their property or keep it for themselves. This is alright, because not everyone fancies strangers living in their home or on their land. In this scenario, maintenance of the home is vital. The property management service providers would arrange to care for the property as their own, which includes maintenance, cleaning, pest control, plumbing, repairing and more.

Demand:

Property management is a fairly new concept and till now it is confined to a few companies only. But more and more companies are emerging in the market providing services for locals as well as NRIs.

Personally most NRIs prefer to hire a caretaker to manage the house or what they would do is lend the place to someone they trust, like a family member or a friend and allow them to stay in it. It’s a personal choice on how you prefer to maintain the property.

But when signing a deal with any of the service providers, it would be good to do your homework on their reputation- licensing, legal sanctions and certifications. In short, one should always check the credentials of the provider and then make an informed decision for the same.

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Created on Dec 31st 1969 18:00. Viewed 0 times.

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