PGN Property Management in Bangalore

Few things must be careful about rental agreement. Rental cycle - Usually rental cycle must be 11 months. Agreement has to renew every 11 months. Lock-in period - Try to get rid of Lock-in period Annual rental increment - Usually 5–10% depends on the location and accommodation Rent payable : Is rent payable in month end or month beginning. Try to pay month end to control your cash flow. Maintenance and other cost : Is maintenance cost and other cost (water, electricity, tax etc,) includes in rent payable or excludes rent payable to owner. Security deposit: Usually security deposit in Bangalore is 10 months of rent (Eg: Rent is Rs.10,000 then the security deposit is Rs.1,00,000 ) Try to negotiate and pay in 3 or 4 installment to control your cash flow. Is repair, damage cost or structural change borne by tenant or owner?Usually tenant has to bear during tenancy period. Notice period: Usually 1–2 months of notice, Tenant has to inform owner at least 1 or 2 months in advance be...

Few are my observation, Not screening  tenant  back ground- Its mandatory to screen your tenant interms of origin, employment, credit report, criminal record and family size relying on  verbal agreements.  Just don’t forget: this is business and there is no place for building  personal relationships  with clients. Prefer cash transfer over On-line transfer - wire transfer keep you on track of transaction. you will not be mislead in transaction Slow in rent collections and not taking immediate action on rent payments Not knowing market rents and undercharging Not understanding cost effective maintenance techniques Not doing property inspections and resolving issues as they arise Lack of professionalism, treating tenants as mates Not renewing agreement on time with appropriate renal appreciation Highly emotional while dealing tenant termination Will add then and there… PGN Property Management  - An End to End property management in Bang...

Non-Residential Indians (NRIs) or Person of Indian Origins (PIO) continue to maintain strong bond with their motherland. They either have families in India or have made investments into India. Managing a property is an uphill task for an NRI or PIO  who is far away and is focused on his/her work. Therefore, by hiring a professional  property management company in India , an NRI can keep an eye on his/her property. A Property Management company performs following tasks: Inspect the property Renovate the property to make it rent-able Market the property Site visits for prospective tenants Tenant screening Rent agreement Monthly Rent collection Paying the monthly utility bills Resolve maintenance issues (plumbing, civil work, wood work, electric work, etc.) Resolve tenant queries that may arise during the course of tenancy period Periodic inspection the property At the end of the rent contract, either evacuate the property or extend the rent agreement Monthly co...