First, we sign a Property Management Service Agreement contract with you, specifying all our responsibilities. You will be assigned a specific Property Manager
Inventory management is a critical part of our service and our team does a detailed Inventory check of the property, noting all fittings, fixtures, damages and the general state. This inventory list is then maintained across tenants, and we ensure the tenant hands over you the property back in the acceptable condition to you [subject to normal wear & tear
If the property is vacant or the existing tenant wishes to vacate, we shall start the marketing immediately upon your consent, through numerous channels primarily Online, local broker networks, Vast Coldwell Banker network, Social media, and through our existing client base as well. If required we shall also do a video walkthrough of the property and use it across online platforms specifically in YouTube. While the property is vacant, our team will ensure the property is constantly monitored and updated to you.
Once we have an interested prospect, our team completes the negotiation to get you the best rentals, as well as a standard verification protocol. Once we are satisfied, we send you a rental agreement draft, once approved further agreement formalities, token, deposit and rent cheques collection is handled by our team and handed over to you or deposited in your accounts. Any work in the property requested by the tenant, and approved by you is coordinated by us. We do a formal handover to the tenant with a sign-off on the inventory forms.
Every 11 months, the rental agreement with the tenant is renewed at the agreed-upon escalation, and fresh postdated cheques collected for the new period. We start the renewal process 3 months before expiry
When a tenant vacates, we do a thorough exit check and calculate the costs of damages. We then do a final settlement with the tenant after deducting any unpaid bills, unpaid rent, and costs of repairs. We then restart our marketing process and work on Tenant Replacement (and the process repeats)
We also assist you in case if you need our help in obtaining the property tax paid receipts, khata applications & encumbrance certificates etc.,
Our Fees are structured on from the SECOND YEAR onwards. Thus we have no upfront fees – you pay monthly and not annually and we charge of the rent per month as a monthly management fee, only when occupied from the second year onwards.
“Pay Per Use”
8.33% plus GST
For the FIRST YEAR: Our Fees are one month equivalent rent plus GST [paid post successful onboarding of a tenant]
Assuming the rent is ₹50,000/-
1 Year – On Successful onboarding of Tenant our Fee Payable by the owner is ₹50,000+GST which is the brokerage fee and property management services comes FREE of cost for this yearst
2 Year onwards – ₹4165+GST payable on successful collection of rentals each month & if the property is vacant, we don’t charge our Fee.