Property management is a tedious task. If you own a property and live at a distance from it (in Bangalore Whitefield and Koramangala feel countries apart), or if you are an NRI with property in India, you already know the hassles that come with it. Before we get to the crux of the topic which is the need for a property manager, we want to tell you why more and more home owners with houses in India are hiring property management companies.
We did a quick survey of our existing customers to understand what their pain points were before hiring us, and this is what they had to say:
- They couldn’t visit the property as often as they needed to leading to vandalism and property damage.
- They couldn’t perform maintenance regularly because of the lack of time and this led to property and interior degradation.
- Some customers (all our NRI audience) lived to far away to visit the property themselves and had to rely on family to manage it for them. Most times the members responsible would forget or get busy and the property continued to degrade.
- They could not find good resources and vendors to manage repairs and maintenance, and in some cases they were not aware of what price is the right price for these tasks.
- Owners who had rented out their place had a very tough time managing tenants. When tenants called about repairs or cleaning (in case of apartments) they had to leave important work to tend to their tenants’ needs.
- Collecting rent every month was a major hassle. Tenants would sometimes not respond to calls or not make transfers in which case owners had to visit the property personally. If tenants were not available, owners had to revisit to collect rent.
- When tenants left, advertising and marketing the property was a pain. Most owners had to rely on brokers who took a cut and never respected the property.
- Finding verified, good tenants was a major issue. Brokers would not check the prospective tenant’s background and credentials before finalizing which sometimes led to problems.
- Some owners were not aware of legalities like property tax and documentation that was necessary to be followed when owning a property in India.
If you are suffering from even one of the pain points mentioned above, you should hire a property management company to manage your property. Our clients did, and now they reap the benefits of owning a property without any of the hassles!
We have written a lot of articles on property management companies, what we do, why we are important, etc. Here’s a list of articles that will clear all your doubts about property management services in India:
- What is a Property Management Company & What Do They Do?
- For owners looking to rent out: How a Property Management Company Can Help Solve Renting Troubles
- For NRIs having trouble with property management: NRI With Property In India? Here’s How You Manage It Stress Free
Now that that’s out of the way, we’d like to talk about an important feature the property management company you choose to go with should definitely possess – an on-site property manager.
Companies can promise a host of services, but without an on-site property manager, their hands are as tied up as yours. Here’s why having an on-ground property manager is important, and why we ensure there is at least one Propadis property expert at all our service locations:
1. They are available for immediate action
Sometimes property needs can be delayed by a few days (but never more), but in some cases they need to be immediately remediated. A leak in the bathroom, for instance, cannot be left unattended even for a few hours as it leads to a lot of water wastage and also damage the flooring. Cases like these make it obvious why a property manager on-site is crucial.
2. They are local to the region
A person who knows the region, language, and customs is better suited to manage tasks than an outsider. This is simply because they can handle local workers and vendors better. On-site property managers (at least at Propadis this is the case) are experts who are local to the region where your property is situated. Being a local also helps us get cheaper deals which helps you save money on regular tasks.
3. They can get work done faster
Knowing the city, a property manager can get from their location to your property, to vendors’ location, etc, faster which ensures your property is tended to quickly with minimal time. This is especially important when you have tenants, because some issues like plumbing problems, broken assets, etc need immediate tending to while the tenant is available at home. Keeping them waiting leads to a bad impression and in today’s world of digital reviews, one bad impression can lead to bigger problems when looking for new tenants.
Of course there are many smaller benefits of hiring a company that has an on-ground property manager, but the above 3 cover all benefits on a wide scale. Besides, we’re sure you get the point.
So what do you do next? first evaluate if you need a property management company. We mentioned customer pain points earlier, if you face any of them, it will be beneficial to get help. We perform a free round of property evaluation that can help you get a better idea.
Next take a look at the company’s service catalogue and ensure they have services that address all your pain points. Finally, and most importantly, ask if they have a property manager on-site. Ideally, this property expert on site would become your point of contact after sign-up.
It helps if property management companies also have tie-ups with local or national service providers. For instance, we at Propadis are tied up with HomeInspeKtor who are experts at property inspection.
That’s all for now. Hope this article helped you put your property management worries at ease.
Want to know more about our service? It’s all on our website: Manage Property in India