What is Property Management?
Property management is the supervision and management of your property by a third party, who is responsible for the following:
• Tenancy - Advertising, marketing, enquiry management, site visits, tenant verification & screening, tenant move-in assistance, inspection reports preparation
• Agreement - Preparation of legally vetted rental agreement, Procurement of EStamp papers, Signature coordination, Agreement Renewals, Negotiation of Rental Hike
• Payment Collection - Collection of deposit and timely rentals
• Maintenance - Record of a log of tenant complaints related to maintenance and assistance tothe tenant to rectify it, educate and inform the owner on repair needs, Repair payment facilitation on behalf of the Owner, Project Management to provide maintenance services and inspection during move-in/move-out, Pest Control, Chimney Cleaning, etc.
• Other Services - Electric meter transfer, property tax payments on the owner's behalf
The 11 Steps of Property Management for peace of mind:
Step1: Submit your property information using the online form, access link here.
Step 2: A property inspection is performed, and a digital report is shared, access sample here.
Step 3: Sign the property management agreement with Agarwal Estates, access sample agreement here.
Step 4: We initiate a tenant search for your property while our dedicated service desk team works towards making your property presentable and move-in ready for the new tenant.
Step 5: Parallelly, we perform any necessary maintenance work in collaboration with our skilled vendors upon your approval of cost estimates.Once the maintenance is completed, another inspection is conducted and recorded, access sample here.
Step 6: Suitable prospective tenant profiles are chosen, and feedback on tenant screening is shared for your approval.
Step 7: Once finalised, a rental agreement is prepared and digitally signed(legally recognized under “The Information Technology Act, 2000”) by both owner and tenant, access sample agreement here. As per Rent Control Act, 1961, the records of the tenante.g. Govt ID and address proof along with a copy of the signed rental agreement is stored in our CRM.
Step 8: While handing over keys to your new tenant, an inspection of your property is performed (also called move-in inspection report). This information is shared with both you and your tenant.
Step 9: Your tenant is provided with the link to download our mobile phone application where any concerns or maintenance related issues can be raised to us. After move-in, the tenant has 7 days to send us a compiled list of issues which will be addressed after your approval on cost estimates. Our dedicated service desk team will assist the tenant to rectify the issues.issues.
Step 10: Reminders are sent to the tenant for timely rental payments. Half yearly inspection of your property is performed, and report is shared with both you and your tenant. Annual Pest Control and Chimney Cleaning are provided at no cost to you and your tenant.
Step 11: When a tenant moves out, we conduct a move-out inspection of your property. It is compared to the property's move-in inspection report. The tenant is responsible for any damages caused by them. We assist you at this stage with all the negotiations on deductions. We make the necessary repairs to make the property rentable again while looking for a new tenant.
Your Rental loss is minimized by utilizing Project Management experience gained over 10+ years. Typically, repairs are completed within 1 week of a tenant's departure, and a new tenant moves into your property within 2 weeks.
Your property is safe and the tenant is satisfied even when you are physically absent. For homeowner's, the 'peace of mind alone' is worth the price.
