Property Management

When the laborious task of managing your property, from finding the right tenant to maintenance, can be taken care of by Agarwal Estates as your property managers, why bother stressing yourself? We assure a management of care that goes much beyond just a service.

Maintaining and providing care to a property are unarguably the two of many important aspects of property management, and while our clients may not have the bandwidth to oversee one or multiple properties at a time, we do the job for them. The heavy lifting is off their shoulders, with us coming into the picture. There are a number of tasks between which our property managers juggle seamlessly, like keeping clients in the loop, managing services pertaining to care of the property, dealing with tenants, administering agreements, collecting payments, keeping a record of important statements, etc. As consultants based in Bengaluru, clients are updated on the market trend, and are advised about the finest of options, with the minutest of details, to manage operations efficiently and effectively.

We have tailored our services in a way that can save your valuable time and you can depend on us completely for the upkeep of your property. We become your Virtual Tenants for the timely payment of rent and corresponding Virtual Owners for the sub-tenant to take care of all property-related issues.

We are currently offering the following professionally managed services at no extra cost to you:

Guaranteed rent* (we will pay rent even if the flat is vacant)

Utility payment (property tax, maintenance fee, power bill, water bill, etc.)

Property inspection (twice a year)

Basic maintenance (repainting, repair, dealing with tenant's complaints)

Pest control (once a year)

Chimney cleaning (once a year)

Professionally managed flat - Thoroughly verified flats with a fine and swift management.

Basic maintenance & Repair - Prompt repairs with response and action to complaints.

Timely refund of security deposit - Contractual clarity, and timely refund of security deposits.

Clearly written deductions in agreement - No hidden facts or costs, or any last minute surprises.

Guaranteed rent - Despite the vacancy, rent is duly paid. (T&C apply)

Tenant Management - Attaining the right tenant is our responsibility.

Property inspection - Happens twice every year

Legally Secure Contract - Details of contracts are clearly stated and concretely documented for fair benefit of both the parties.

For any queries: rental@agarwalestates.com

*rental guarantee is provided for selected properties only at the discretion of Agarwal Estates

FAQs

FAQs to ensure a worthy Property Manager
1.How long has your company been in the business?
For the past 8 years, we have been working in Real Estate. Our team came together in 2012 and has grown ever since. Our strengths lie in providing our clients with the very best, which has led us to become pioneers in this business. We are your go-to realtors if you are looking for a management style that is hassle free.
2. How many rental units (properties) do you manage?
We manage over 350 rental units. Apart from that, in the recent chain of events, we have acquired a private limited company, which oversees another 250+ companies. We have gained that kind of trust because of our loyalty to the KEY initiative, transparency and by extension, our clients.
3. How many staff members do you have and what are their job functions and specialized roles?
A team of more than 35 people make up the total strength of Agarwal Estates. All employees are trained regularly to become experts in their specific domains. Filling specialized roles, our employees are constantly striving to upskill themselves to have the quality of their work retained. They perform various functions and handle different tasks based on their skill on a day- to- day basis. The background of each one in the team may be different, but everyone works with the same guiding force. It is a force that lets us stay true to our values and maximize our client's peace of mind. Each one adds value to the greater whole with their specialized roles. The jobs include (but are not limited to) serving clients and their concerns over various communication channels, looking over minutest details related to the management of property, tenants, etc.
4. Where are most of your properties located?
Our properties are predominantly located in Bangalore East, Whitefield, Varthur, Marathahalli, KR Puram, Hebbal, HSR Layout, Harlur Road and Sarjapur Road (IT Hub). However, we serve the entire city of Bangalore from Electronic City to Yelahanka to Malleshwaram.
5. Do you manage any other properties in my neighbourhood /area?
It is understandable why you would want to make sure what type of properties we have in our portfolio, and whether they are similar to yours. We manage properties all over Bangalore. In case of specific requests, you can get in touch with your property manager. They can help you identify a portfolio that matches your request.
6. What professional organizations do you belong to or participate in?
We are associated with BRAI (Bangalore Realtors Association India), NAR (National Association of Realtors), and CREA (Canadian Real Estate Association). We believe in gaining knowledge and learning from realtors all over.
7. What types of properties do you manage?
We manage properties across Bangalore and have our team who are well versed with all parts of the city. This enables them to quickly get tenants for properties across Bangalore.
8. Are you currently an active real estate investor in your market?
Yes, we are an active and a trusted real estate investor in the market. We are involved in each part of the investment, from selection to obtaining financing through banks, and managing the investment.
9. What qualifications do your staff members have?
Our working professionals come from Engineering and Management backgrounds. They hold degrees in BE, and MBA. Our well-rounded individuals, who put their gained expertise to practice, are always ready to provide you with a sense of peace and get things done.
10. What experience does your company founder have in managing rentals?
With an experience of more than seven years, our founder Manoj Agarwal understands the power of ethics, transparency, and commitment in real estate. As an owner of a property in the United States managed by another property manager, and as a settler in India, he is able to analyze two different markets and bring out the best possible in the Indian market.
11. Do you work with international owners?
Yes, most of our clients are NRIs. Since they cannot be here all the time, they find it easy and convenient to have a property manager like us to take care of things. (Because the owner too has invested in real estate and stock market in the US, he also brings with him an international understanding of how things can be managed smoothly for all kinds of clients, whether from India or outside.)
12. Is your company privately owned or is it part of a franchise?
Agarwal Estates is a privately owned, real estate company. The company has heavily invested its time, energy, and resources to redefine trust in the real estate market. It is a one- stop solution for all your problems, and all it takes is your trust.
13. How long have you been in this business?
We have been managing properties since October 2012. Our founder Mr. Manoj Agarwal owns properties in the United States which are being managed by Property Management Professionals. It’s in this context; Mr. Agarwal was drawn towards redefining property management services in India and thus ventured into the real estate industry. Rest is History! With 8+ years of experience, Agarwal Estates not only brings expertise but also experience to offer a great real-estate experience to all property owners. While Agarwal Estates manage the property, you, the owner can spend some quality time with your family and be at peace.
14. How old is your oldest customer?
Our oldest customer has been with us for 6+ years. In the Property management industry, more than 6 years old customers are proof of exemplary service and trust. Our termination rate is very low and even under the circumstances of an owner wanting to sell; we assist in the sale to ensure the transaction is hassle free. This also gives us the opportunity to engage with the new client and continue managing the property. The fact that customers have stayed with us for over more than 6 years shows trust, value, and transparency we offer in our services.
15. What is your property management churn and retention rate?
The churn rate for Agarwal Estates clients, as unbelievable as it may sound, is 2%. We have a very high customer retention rate of 98%. This is also reflected in the innumerable testimonials we have received on our website, Facebook, LinkedIn and Google. Some of our customers have been with us since 2013 and would be more than happy to vouch for our services.
16. What is your employee attrition rate?
The employee attrition rate at Agarwal Estates is around 20%. However, in comparison to the real estate industry in India, our attrition rate is much lower. With the level of transparency, we provide at Agarwal Estates, our employees resonate with the company’s values and ethics of doing business with a zeal to provide quality service without any hidden agendas. Many of our employees have been with us for 5+ years.
FAQs for Owners
We understand your sense of curiosity when it comes to letting us manage your property, and it is natural that you would want several questions answered. Committed to providing you with peace of mind and complete satisfaction, we take upon us to relieve you of all your doubts. Here is a list of questions that come up very often, about renting and property management, tenant management, and about the tenant move-out process. These will let you get familiarized with the rules, policies, and other relevant information regarding your property and how we function, keeping all details transparent.
About Renting and Property Management
1. Will you start paying me rent as soon as I hand over the flat to you?
We offer guaranteed rentals to over a 100 apartment complexes. It is made possible because we understand our clients' concerns. If your flat is in one of the complexes covered under our Guaranteed Rental Program, we'd offer the same to you. In that case, as soon as the property is handed to us in pristine condition, rentals shall start right after the 15th day, regardless of whether the flat is occupied or vacant. We bear a loss of maximum two months. Rental guarantee is NOT for all the properties. It shall be decided only upon inspection, and looking into the rent agreed on, etc. It is more or less like buying insurance for rental guarantee. In case of any dispute, there exists a 1 month exit clause in the property management agreement for either party.
2. What is the timeline for when the first inspection takes place after I hand over my property?
If a tenant is staying in the property, we schedule an inspection at the earliest convenient time for the tenant. If the flat is empty, we conduct an inspection within 3 days of property handover and collect keys. Due to possible packed schedules, we ensure an inspection is conducted at the earliest. You would not bare any rental loss in those days since we begin advertising the property with details you have provided from initial interaction and update photos in the listing once inspection is done.
3. What kind of pictures will be taken of my property?
We understand that quality of home photography increases chances of finding a tenant by 15% more. Therefore, we regularly train our field executives who visit properties to skilfully capture detailed and informative pictures of the property. Techniques like Aspect ratio, switching Landscape/Portrait when appropriate, straight edges, wide angle photography etc, are a few among other tools we train them on. Agarwal Estates invests in external coaching as well on crucial fronts like this. Rest assured, our photos will speak the story of your home and assist in finding a suitable match.
4. Who will be responsible for the maintenance work of the flat? Will I be charged additionally for maintenance?
Regular maintenance of the property, including plumbing, electrical works, painting, and cleaning will be taken care of by us, once the flat is handed over in pristine condition. There shall be no additional cost attached to this, as we value each of your penny. Basic and Minor Repairs will be dealt with by us, without having to bother you. We make sure to keep you far from trouble when it comes to such small issues. However, major repairs like seepage, electrical faults, etc are to be borne by the owner.
5. If the apartment suffers any major damage while being rented out, who will be responsible?
It will be our responsibility to have any damage caused by the tenants paid for at the expense of the tenants themselves. However, in case of any natural damage like cracks or seepage, the owner is expected to bear the cost of repairs.
6. Will my flat be used for commercial purposes?
Absolutely not. Your flat will only be used for residential purposes. Under no circumstances do we encourage letting your property out to be used for Paying Guests, or even as service apartments. Anything that takes away from your contentment is a huge 'No' for us.
7. Regarding the copy of documents of the property e.g. Sale Deed, what is the purpose or use to the tenants?
They are a necessity to confirm ownership of property. In some cases, the Association also requires a copy of Sale Deeds, for a Company Lease, the company itself will need certain proof of ownership. It is a generic template with a standard process. If you are already known to us, and we are able to vouch for your ownership, there may not be any need for a Sale Deed. We tread with caution especially with individual houses on the streets.
8. The Deed also talks about Power Transfer to any other company or individual, how can it be done without a notification/written permission of the Lessor or his local representative?
It is a highly unlikely scenario whereby power is transferred to any other individual or a company. However, under such uncertain circumstances, as transparent as we are, we will be notifying the owner about it. But you can be assured that it is extremely improbable.
9. How about Maintenance & Rentals when the flat is vacant?
We do not believe in unnecessarily holding payments, and rent shall be paid on time directly into your account. As far as maintenance is concerned, it will entirely depend on the terms and conditions of the PM Agreement. If the inclusivity of maintenance is opted for, Agarwal Estates shall pay whatever maintenance charges there may be, to the Association. Our service fee will also be including maintenance charges.
10. Is property inspection done? If yes, how often?
A visual and a non-invasive inspection of your property is done twice in a year. It is carried out by our fully qualified professionals, who are trained and experienced in evaluating buildings and their components. Pictures of your property are sent to you in case of any issue, for example sanity check of the flat, leakage, seepage issues. To ensure your peace of mind, the inspection is designed to provide you with all the information you may need to make an informed decision about your potential purchase.
11. Will Pest Control and Chimney Cleaning Services be taken care of?
We understand what it takes to keep your property safe and healthy and maintain the quality of your precious space. At no additional cost to you, Pest Control and Chimney Cleaning will be done once a year by us.
12. How about painting and deep cleaning?
As soon as the tenant moves out, Agarwal Estates will bear responsibility of getting your property painted and deep cleaned at absolutely no additional cost to you. It will be done by trained technicians, and you can be assured of the quality of the service provided.
13. Regarding adding services in your contract, can we add an addendum at the time of signing the agreement, if required?
If any such service(s) is/are mutually agreed upon, we can add them as an addendum to your property management agreement.
14. How do you determine the rent amount?
The rental yields of any property, varies because of several factors, including common floor, magic bricks, with existing tenant and owner. Other variables that determine the rent amount are market research (to essentially find out what your property is currently worth in the market) and sale price. Rent amount can vary based on the location, demands due to better transportation, employment, entertainment & recreational facilities. However, you can be assured of an accurate assessment that will be done by our team.
15. What steps have you taken to cut costs so that you can pass savings on to your owners?
Something that is very unique and exclusive to Agarwal Estates is their free pest control service, their chimney cleaning service that is done once in a year, and property inspections conducted twice in a year. Realtors or vendors in the market will have it done for you only once a year. In our hands, the care of your property is doubled. We know exactly what worries run through your head, and even optimize processes with relevant checklists and other documentation.
16. Do I have to sell my property with you if I want to list it?
No, you do not have to necessarily sell your property to us to have it listed. However, if you wish to put it up on sale, you may utilize our services and relax in the comfort of your armchair. We would be the best firm to trust as we know your property and would be the ideal firm to promote it in the market.
17. What are your leasing fees and do they include any marketing costs?
A month's leasing fee includes marketing cost as well. If you wish to sign up for the PM services, it will be treated as PM fee.
18. Are there fees when the property has no tenants?
We do not charge you for the period when we are looking for a tenant for the apartment. Our service fee is charged at the start of the rental period and is for the rental duration.
19. What miscellaneous fees could I be charged for the management of my property?
Our commitment to 100% transparency ought to bring home a sense of assurance to you. It is an assurance that is fundamentally grounded in our system roots. There are no charges that are hidden from you for last minute shocks, therefore, no miscellaneous fee. The founder of Agarwal Estate presses on ethics, and the merit that it presents to all our clients, across all services.
20. Are there any fees if I want to change to another property management company?
Our set- up is based on a model of fairness. So no, there is no such fee. We believe in the saying 'Treat others as you would want to be treated.'
21. When do you begin paying your owners following rent collection?
We pay rent to the owners much before the due date that is on the 7th of every month.
22. What percentage of your rentals is usually vacant?
A five percent of our rentals are usually vacant. This is an average monthly rate however it may slightly vary depending on the time of the year and location of the property. However, we make it a priority to ensure that all properties are occupied at all times.
23. How often will I get updates on my portfolio?
You can expect updates on your portfolio between every three to six months time. We make sure that all updates are communicated to you to uplift our capabilities based on the philosophy of providing the highest quality service to you.
24. How do your owners contact you?
We are always available to cater and attend to you or your needs over mail, phone call, or even on Whatsapp. Our contact info is shared with the owners during the initial formalities. However, the same is also available on our website and we are available on all working days.
25. How do you go about notifying me if there is a cost for maintenance?
On inspecting the flat, we notify the owners if there is any maintenance cost that needs to be borne, or if anything requires to be replaced by mail. As promised, there wouldn't be last minute shocks. All possible charges will be told to you about, in advance. Charges are applicable only as per actuals. Our service is absolutely free.
26. What discounts can I receive on maintenance, etc. if I have you as my property manager?
In order to fulfill our role as the pioneers in this business and operate efficiently and successfully, we subscribe to high levels of clarity. In terms of discounts over maintenance of your property, there are none. We charge only the actual amount, for which proof is provided to the client.
27. Do you have an in-house maintenance team or is it outsourced?
The critical aspects like quality control, inspection, carpentry and electrical work are handled by our in-house team and our sister company Agarwal interiors. To ensure smooth functioning of the process and avoid delays and tension to the owners, these important aspects are always handled in-house. However, Painting, Deep Cleaning, Plumbing, Pest control and Chimney cleaning is outsourced to trusted vendors. Although it is a mix and match with about 25% maintenance done in-house and 75% being outsourced, Agarwal Estates' emphasis on providing one stop real estate solutions not only makes the process simple but also is hassle-free and peaceful to the clients.
28. Do you mark up the maintenance bills and if so, by how much?
No, maintenance and repairs are not marked up. They are applicable only as per actuals. At Agarwal Estates, our chief motto is absolute transparency. In that context, we don't mark-up any maintenance bills. As per our policy, we always bill as per the actuals and the amount actuals are passed on to the customers directly. There are a few specific services for which we charge a predetermined cost however the same is informed to the customer in advance to avoid any last minute surprises. Marking up maintenance bills, especially in the last minute amounts to unprofessionalism, and is followed by most in the real estate industry. However, at Agarwal Estates, transparency is adopted as a core value to ensure peace of mind for all clients.
29. What are the management fees when the property is being rented?
The Management Fee is equal to that of one month's rent as noted in the service contract, with the renewal period being 11 months. Being associated with Agarwal Estates means that you will not be nickel- and- dimed each month with a list of confusing fees. For a year of service, only a month's leasing fee is charged from you. There is absolutely no extra fee beyond this.
30. Is the management fee negotiable?
The management fee is non-negotiable. We believe in fixed and fair prices. Just like any corporate policies, our fee is non-negotiable. This hard and fast rule applies across all our services.
31. What's included for the fee?
The answer to this question can be specific to the type of property you wish us to engage with. If you are interested to know more, we will share a detailed document based on your requirements.
32. What are the add-on fees?
Typically, we don't charge an add-on fee. However, under exceptional cases where you require our services for paying property tax, A-khata or electric meter transfer, which are considered as additional expenses, we will charge an add-on fee. But we will notify you about the same in advance. While most local vendors' rates appear reasonable, more often than not, they always demand last-minute add-on fees for brokerage, maintenance etc. However, to ensure a tension-free, peaceful partnership with the owners, Agarwal Estates includes all necessary services in the management fee, hence not amounting to last-minute add-on fees.
33. Who collects the late fee? How is it shared between the owner and the tenant?
This question becomes invalid in India as late-fee collection is not something we practice. Keeping in mind the Indian culture, we give more emphasis to owner-tenant relationships than late-fees. However, it should be duly noted that in all agreements, a late fees clause is mandatorily mentioned as per our policy, but rarely practiced. And even under exceptional circumstances, if and when the late fees is charged, the full amount is paid to the owner and not the property manager.
34. How often do you do preventive maintenance?
At Agarwal Estates, we take preventive maintenance very seriously. We conduct an end-to-end property inspection twice a year. The purpose of these inspections is to analyze the property and find out if maintenance is required. Other than this, we also conduct chimney cleaning and pest control maintenance once a year, at our cost. Also, every time a tenant vacates the property, there is a full-scaled inspection followed by mandatory pest control, chimney cleaning, deep cleaning and property repainting. It is to be noted that none of this is at an additional cost to you, the owner. Unlike most local vendors, preventive maintenance is a priority at Agarwal Estates and we follow it rigorously. With regular inspections and necessary preventive maintenance, we take care of your property like our own, allowing you to be at peace.
35. What are the risks of giving a house on rent?
There can be risks in renting your property along the following lines:
  • Maintenance: Not maintaining the property regularly can lead to irreplaceable and expensive damages to the property.
  • Delayed rental payment: The tenants may not be regular in making monthly rental payments and on occasions might delay it for a long time.
  • Eviction: In case of a rental, maintenance or behavioral disputes, eviction proves to be troublesome and requires expertise
  • Short term lease breakage: At times, tenants may have to relocate etc. which leads to short term lease brokerage consequently leading to vacant properties.
  • Miscellaneous risks: There can be issues with the respect to apartment associations, pets, noise during parties etc.
That’s why, as an owner, hiring a property manager to manage your property can help you mitigate these risks. While other property managers just manage the properties, we take care of it as our own and offer you a peaceful and pleasant experience.
36. If hired as the property manager, how would you mitigate the above-mentioned risks?
With an experience of 1000+ rental transactions, most rental and property related issues are preventable by a professionally written lease agreement. We have carefully assessed all potential risks that may cause conflicts and disputes during the course of lease or termination, and they have been adequately addressed in the agreement. Not only is our agreement comprehensive and legally validated but has also received wide appreciation from many owners and tenants for its fair and unbiased clauses. This not only ensures the mitigation of risks mentioned in the previous question but also helps you maintain a healthy owner-tenant relationship, allowing you to be at peace while you lease your property.
37. What would be the owner's responsibility even after a property manager is hired?
While we take care of most aspects of the property as your property managers, as an owner you are expected to play a few minor roles in the management of your property. Now that you own your own property and are earning very well, you might not want the tension of managing your property and handling the tenants etc. That's where we, as your property managers, make your life peaceful. However, there are a few formalities you will need to fulfill as owners; Firstly, while we prepare the professional rental agreement, you will need to sign it for legal purposes; Secondly, while we take care of the maintenance, wear and tear issues, you will be required to bear the expenses; Thirdly, you may have to send occasional emails to apartment associations, notifying them about you hiring us, tenant details etc; Lastly, and under exceptional circumstances of a tenant eviction, as the owner, you will be required to bear the legal expenses of the eviction. Other than this, rest assured your property is in safe hands and we will take good care of it. All we need is your autograph® and you can be at peace while we manage your property.
38. In case of additional work or property upgrading, is there a separate management fee?
While we take care of most aspects of the property as your property managers, as an owner you are expected to play a few minor roles in the management of your property. Now that you own your own property and are earning very well, you might not want the tension of managing your property and handling the tenants etc. That’s where we, as your property managers, make your life peaceful. However, there are a few formalities you will need to fulfill as owners; Firstly, while we prepare the professional rental agreement, you will need to sign it for legal purposes; Secondly, while we take care of the maintenance, wear and tear issues, you will be required to bear the expenses; Thirdly, you may have to send occasional emails to apartment associations, notifying them about you hiring us, tenant details etc; Lastly, and under exceptional circumstances of a tenant eviction, as the owner, you will be required to bear the legal expenses of the eviction. Other than this, rest assured your property is in safe hands and we will take good care of it. All we need is your autograph® and you can be at peace while we manage your property.
39. What is the initial on boarding process?
The initial on boarding process, while can be lengthy, also gives you a good sense of our customer service. At Agarwal Estates, we are highly invested in process improvement and standardization and we are also currently undergoing an ISO certification to further improve our processes. If you are interested to know more about the on boarding process, you may request the same with your property manager.
40. How should an owner proceed to discontinue service?
All clients would be expected to give a one-month notice period after which the contract is terminated. At this stage, most property managers have the tenants forcefully vacate the property causing extra tension to the tenants and the owners. Most often this is used as a dirty trick to convince owners to continue service with the property management group. However, to avoid any such hassle to the owners and the tenants, we ensure to hand over the contract directly to the owners, along with tenant details, making the discontinuation process easy, simple and peaceful. At Agarwal Estates, client and tenant satisfaction is our priority. In most cases where property managers evict tenants to cause trouble to owners, we empathize with the owner’s trouble to find new tenants. Hence, as a token of peace and a symbol of our partnership, Agarwal Estates always ensures to transfer tenancy to the owners instead of evicting them to create nuisance.
41. What are your default and delinquency rates?
In the 350+ properties we manage in Bangalore, the default and delinquency rates are extremely low. Our tight screening process and professional agreement ensures the same. However, there are about 4-5 monthly cases because of the following reasons; Delay in monthly rental payment, or personal/financial troubles, or tenant holding the rent due to maintenance issues or property being vacant for a long time.
42. What are some of the other properties like mine, you have handled?
With a well-established client base, we have handled all kinds of properties, all over Bangalore and there are good chances that we are handling a lot of properties like yours. We have received hundreds of testimonials on our website and LinkedIn page, you can skim through them to find any common connections we might have, who can vouch for our service. If not, you can get in touch with your property manager for more details about properties like yours. With ample experience in handling various properties, for more than half a decade, we say with confidence that your property is in safe and experienced hands. Trust us with your property and we will ensure you have a very pleasant and peaceful experience.
43. Are there any different levels of services like Gold, Diamond, or Platinum?
At Agarwal Estates we believe in premium services for all. All our services are on par with the platinum level services. You may find cheaper options elsewhere, but more often than not, these options have add-on charges as brokerage fee for finding tenants, margin on maintenance etc which shoots up the total value. For example, consider the case of insurance related services, your agent might tell you about a particular aspect not being covered under the plan, especially when you need it. This may be the case with other property managers who offer low cost services but request add-on charges later on. However, at Agarwal Estates we offer a premium service to all clients and ensure all aspects are covered all the time and are communicated upfront to you, the owner. As our trademark motto says, All We Need Is Your Autograph! ®
Tenant Management
1. If my flat is being used by Bachelors/Spinsters for any illegal activity or wrong doings, will I be held responsible or be involved in any legal tangle?
All such hassles will rather be avoided, and we will try and opt for a family instead. It would be our responsibility to take care of everything, including tenant management. While it might limit our prospective tenants, it would be upon your choice if you do not wish to rent your property to bachelors/spinsters. Rent will be paid as per actuals. Legal problems can be caused by family too, and based on our experience, we recommend preferring bachelors.
2. Do you guarantee tenants for any amount of time?
We consider a lock-in period of 6 months with tenants. Up to two months of service is credited if the flat is vacant for flats under rental guarantee.
3. What percentage of tenants renews their leases?
When the end of a lease is on the horizon, you have a decision to make. If the current tenant wishes to stay longer, they can choose between renewing a lease agreement and finding another tenant. About 60 to 70% of the tenants renew their leases because they trust us the same way you choose to trust us.
4. How long are your properties typically vacant?
Our properties are typically vacant only for a maximum of 14 days.
5. What percentage of tenants do you need to evict?
A landlord has the right to ask his tenant to vacate the place and the right to start the process of eviction. A 0.1% of the tenants need to be evicted. The chances of this happening are quite rare and are only due to extreme & exceptional circumstances.
6. What is your average occupancy length for tenants?
The average occupancy length for tenants is about 3 years.
7. What control do I have over the tenant lease agreement?
All rights of the owner are based as per agreement signed with Agarwal Estates. Once the agreement is signed, you will have clarity on your responsibilities in tenant management. As your property managers, we keep it as minimum as possible and keep things easy and tension free for you.
8. Do you require tenants to have renter's insurance?
Such rules do not apply in India, and so, we do not subscribe to asking tenants to have a renter's insurance
9. Do you select my tenant or do I get to approve them?
It is a mutual understanding that Agarwal Estates expects to have with their client. Constantly touching upon the idea of trust, we can assure you to trust us in finding the right tenant for your precious property, because we understand your needs.
10. Do you have a move-in checklist?
Yes, we do have a move-in checklist.
11. On what terms do you screen the tenant?
A rental background check is like an x-ray that allows you to see beneath the surface of a potential tenant. It's a simple way to identify red flags and avoid problematic tenants. We have a very well-defined screening process for all tenants. Firstly, we request for education and employment proof to understand the tenants' social and economic status. Secondly, we analyze their social media profiles (LinkedIn and Facebook) to conduct a background verification. In exceptional and high-profile cases, we have also conducted police verification. Lastly and most importantly we collect a rental deposit equaling 6 to 8 months rent which is returned at the end of the tenant's stay. Furthermore, unlike usual rental agreements which are about 2 pages in length, ours is a professionally written, legally validated rental agreement of about 7 pages length which explains all terms and conditions in detail. With continuous review over the last 6 years, Agarwal Estate has built a secure and tight screening process to avoid any possible inconvenience to the owners ensuring a tenancy at peace.
Tenant Move - Out Process
1. Even after the expiry of Agreement Period, if the flat is not vacated, the deed talks about rent, and an additional 5% of rent as penalty. What about legal charges for the same, regarding Termination of Contract?
Agarwal Estates is entitled to pay the higher rental. However, no legal charges will be paid for by us. If tenant has not vacated, Agarwal Estates will pay till the security deposit limit. Finally, it will be upon the court. Court decision will be final and binding.
2. Can I cancel my contract without a fee if I am unhappy?
Yes, you may cancel your contract, but it comes with some terms and conditions. All terms and conditions are communicated to you in advance as we believe in empowering you with knowledge and keeping policies crystal- clear for your perusal.
3. Do you offer an eviction warranty?
No, there is no eviction warranty offered from our end.
4. What percentage of the security deposit is usually refunded to tenants?
When a tenant moves into your rental property, in addition to the rent, a security deposit is withheld till termination. As the name suggests, they are to provide you a layer of financial protection. 90% of the total security deposit is given back to the tenant, keeping in mind that your property is left in a good condition by the tenant as they vacate.
5. Do you have a move-out checklist?
Yes, Agarwal Estates provides you with a move-out checklist. This includes a complete inventory of items that were handed over to the tenant at the start of the rental period and ensures that the apartment is returned in good condition except for regular wear and tear.
6. What are the eviction fees?
In the context of Indian property and rental industry, the eviction laws require the presence of a lawyer. We do not charge legal or service fees in this context and any legal support required will be paid for, by the owner.
FAQs for Tenants
Renting your first property can be a daunting experience, especially when you read about all the things that could go wrong. We understand that it is important for you to do a bit of research before you decide to dive headfirst into a lease agreement after fully understanding your rights and obligations as a tenant.
The following questions are frequently asked by tenants and we hope to have answered some of the questions you might already have with regard to renting a property:
1. Do you provide payment statements, and if so, how often?
Payment statements are provided to you whenever asked for. Our commitment to KEY (Knowledge Empowers You) Success Statistics only makes everything transparent for you.
2. How do your tenants contact you?
We like to maintain a good relationship with our clients - one where there is active communication. Troubleshooting your concerns is our top priority. To make that happen, we are always available to talk to you via mail, over a call, WhatsApp, or through the property management app.
3. Can tenants directly contact the owner?
In case of certain escalation of matters, the tenant may contact the owner. In cases otherwise, we will be your point of contact throughout.
4. What are your income requirements for tenants?
Before the tenant moves in, we require their work proof, whereby their company ID, or the appointment letter serves the purpose. These documents acknowledge the anticipated consistency in the payment of rent.
5. What is your timeline for evictions?
A month's notice is provided to the tenant for eviction.
6. Can prospective tenants conduct self-guided tours of the property?
No, tenants cannot conduct self-guided tours of the property. Our representatives will always help you with a tour.
7. Is there a grace period for tenants to pay their rent?
A grace period of 5 days is given to the tenants to pay their rent.
8. What steps are taken to ensure that your website is easy to use for tenants?
As of now, to keep up with active communication with our clients, we function on call, through mail, and over WhatsApp.
9. How do you handle maintenance requests?
Maintenance requests that come from our clients' end are dealt with in due time. Our vendors arrive at the location and inspect your property in depth. They take care of things that need repairs accordingly. Our service is prompt.
10. How is the rental payments made?2
The tenant has the choice to either make an online payment, as a bank transfer or pay through the app. We do not encourage or accept cash or cheque payments. We encourage online transactions to keep matters simple and easy for the owner and the tenants. The app can also be used to submit rent acceptance receipts which make it easy for all transactions to be tracked, avoiding any unnecessary stress to the owners. The emphasis, yet again, is on the owner's peace of mind.
Miscellaneous
1. Can you explain the federal fair housing laws to me?
It is a law that is applicable only in the US. We hold that knowledge of such laws holds no validity here. So, an explanation of such laws shall not be provided from our end.
2. What type of insurance do you carry?
There is no insurance that we provide. You are expected to have one of your own. A good research will let you find what is best for you.
3. What steps do you take to market properties?
By using exhausting multiple media channels, we reach both active and passive buyers and renters. At Agarwal Estates, we believe that the winning formula incorporates digital, print and social media marketing. Moreover, we have other paid online portals. Often we market our properties through personal contact, sometimes, mostly referrals.
4. Do you work with Homeowners Associations?
Yes, we do work with Homeowners Associations. It helps us make good connections and handle things easily.
5. What percentage of owners do you retain as clients?
A 95% of our owners, we are able to retain as lifetime clients. Their trust in us grows stronger as a result of all the dedicated work that we put into their properties.
6. How quick is your average response time to owners and tenants?
It is important for us to consider that customer service response time, as well as customer expectations, are directly related to the availability of communication channels that we have. We take about 8 hours in general, which might extend up to a maximum of 24 hours.
7. What is your relationship with your maintenance vendors?
To us, a customer- supplier relationship for operations and maintenance is important. We like to maintain a strong relationship with our vendors, as they work 'for' and 'with' Agarwal Estates, hand in hand.
8. How much advice can you give me to help with growing my property portfolio?
On a yearly basis, we update our profile on the prices and charges. Our prompt assistance in its transparent form shall be provided to you in accordance with the updated figures.
9. What market updates and education can you offer?
We update our clients from time to time, if and whenever changes happen in the Real Estate world.
10.What is your association with these vendors?
We have a mutual partnership with trusted vendors with pre-determined rates negotiated on behalf of the clients. While the quality of our services are on par with notable brands, and our rates are reasonable, it is our relationship with these trusted vendors that makes our service valuable to all property owners. To avoid any issues in quality and delivery time, we have trained our vendors to ensure prompt delivery with highest quality. Unlike local vendors, who frustrate the property owners because of poor service and last minute delays, our vendors ensure maximum quality service with minimal time taken allowing you to experience a peaceful transition of services
11. Do you use rental software to manage your clients?
Yes, we use a software called 'The House Monk' to support our administration and keep in touch with both owners and tenants. It is specialized software for property and rental management and makes it easy to keep track of all property details. Not only has Agarwal Estates partnered with the app but also invested in it to ensure a bug free and peaceful interface for the owners and tenants. We make it a point to ensure that all our clients are 100% satisfied about our service.
12. Does the software have a client login for me? Can we view statistics, payments and other details?
Yes, you will have a separate login where you can access all details related to your property. Installing an app on your mobile phone gives access to details related to rent collection, tickets raised etc. If account statements are also required, the same can be issued by our team through the app. Allowing all owners and tenants to track and be updated about their rental and property needs through 'The House monk' has helped ensure a peaceful partnership with the owners and tenants.
13. Can you refer us to some of your existing clients?
You can talk to your property manager for a specific referral for your particular colony or apartment complex. You can also find ample testimonials and connections via our LinkedIn and Facebook page. You can use the following links to find testimonials and connections. LinkedIn: https://www.linkedin.com/company/agarwal-estates Facebook: https://www.facebook.com/AgarwalEstates