The next step after buying a real estate property for income is to decide who will conduct the property management. As the owner, you must deal with legal formalities, regular maintenance, repairs, accounts management, etc. Despite being a source of passive income, it takes a lot of effort and time.
There are two ways to manage rental properties:
Read on to explore the ins and outs of investment property management. This is a concise guide for landlords who want to go the DIY route to manage their real estate assets. Investment Property Management- Roles & Responsibilities of the Owner The roles and responsibilities in investment property management can be grouped into 3 main categories. Herein is a synopsis of different types of rental property management: Property Management Efficient property management proves a prime factor in bringing in prospective tenants and profitable income. Your job starts from day one, encompassing the following aspects:
Tenant Management This is the most arduous task in the entire process involving legal procedures, managing tenancy disputes, dealing with non-paying renters, and more. Starting from scratch, you will be performing the following tasks:
If this seems too overwhelming, you can hire experienced professionals for tenancy management in Bangalore. Accounts and Finance Management A rental property owner has to maintain all financial records to avoid problems with taxes and legal matters. It is necessary to keep a record of earnings (security deposit, rent, other charges), expenses (repairs, maintenance, utilities, property taxes, landlord insurance, etc.), and other details in the financial statements. You need efficient rental accounting software to maintain all financial records of your income property. Tips to Manage Your Investment Property If you want to manage your rental property yourself, herein is a short guide to getting started:
While fixing the rent amount, quote a rate per se for the prices in the regional rental market. With a low rent price, you will suffer losses covering the associated costs. Look into the following aspects when setting the rent price:
DIY landlords mostly place ads with popular online rental listings and local newspapers. Some property websites also offer tenant screening services. Post a video of the rental property to boost views.
If you are a DIY landlord, these repair and maintenance best practices can lower the costs:
To make a profitable regular income, you must collect the monthly rental on time. Late payments may interfere with your financial goals. Many tenants set up automated online payments to avoid unnecessary delays. For safety, include a clause for late payment fees in the lease.
If the occupant does not pay the rent, you may file an eviction lawsuit. The expenses may vary depending on the lawyer’s fees and other costs. But it is always mandatory to follow the appropriate law and order during the process. Please read our article on tenant eviction rules in India.
You will need the legal documents and account information in the future for filing tax returns, paying property taxes, etc. Using rental property software offers storage for all such details securely, and generate financial reports, tax reports, and more. Do you need help with rental property management? Contact SANGAU, a reliable firm for rental property management in Bangalore. We offer tenancy management services, NRI property management, and more.
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Finding a dream home in the IT hub of India is a tough job. It is natural to overlook the details during the walk through tour of the property. You are busy, have less time, and are overburdened with commitments. But missing the minute details can lead you into trouble in the future. Fortunately, we can help you evaluate the crucial matters at the real estate site.
Explore our guide to a physical tour of the apartment for rent in Bangalore. Remember these tips to ensure you do not miss checking things at the destination. Physical Property Tour Checklist #1. Make Sure You are Visiting the Actual Property Unit Are you visiting the actual flat/apartment advertised for rent? This is one of the crucial matters. Many property owners advertise enticing pictures online to lure tenants. However, during the physical visit, they might show you a similar flat making trivial excuses. You may get trapped in a scam. A property tour is inevitable to check everything at the location. It unveils the pitfalls that may help determine if you want to move in or look for alternatives. If the landlord does not show the actual apartment, consider other options to avoid problems. #2. Monitor the Condition and Strength of the Structures This is easy to do as you see various parts of the house. Visit all the rooms, kitchen, vanity corner, bathrooms, etc. If there are damaged structures, ask the landlord to do the apartment maintenance work before proceeding with the legal agreement. #3. Inspect all Faucets, Sinks, and Electrical Fittings Herein is a list of things to check in all rooms, kitchen, and bathroom:
#4. Check the Doors and Windows See if the front door and windows have hinges and locks. There should be no sign of rotting on the wooden material (if any). Metal structures should be easy to operate without any chipped or rusting surfaces. #5. Evaluate the Security Systems Security is an integral factor to evaluate when renting a house. Check the locks and security cameras if these are working properly. You should never lease house until fully convinced of the existing security arrangements. #6. Watch Out for Pests One of the factors overlooked during the rental property tour is pests. It can be onerous but check for small holes near the door/window frames. These places are generally dominated by ants and roaches. Make sure all water outlet drains are covered with gratings (jali). Such holes can invite rodents and snakes inside the house. Don’t forget to check the common premises, such as corridors, staircases, and elevator systems. Common areas are used by other residents or renters in the same apartment. If these places are left in unkempt condition, the junk can serve as the breeding ground for pests. #7. Ensure there is No Bad Odor or Dampness on the Premises The foul smell and dampness indicated a poor ventilation system. Such rooms are unhealthy, especially for children and pets. Are there any stains of water on the ceiling? This is a sure sign of dampness and damage in the structure. Water can seep through the ceiling during rain. In worst cases, the roof may start shedding chunks of concrete soon. What About Virtual Property Tour? A virtual tour facilitates the tenants to see the entire property premises in short video footage. According to a report by Realtor.com, property listings with a video clip got 87% more views than listings without videos. This is beneficial if you are considering a few options. If you don’t like the house during the virtual tour, it is easy to explore other options. However, a virtual tour does not eliminate the need for a physical walkthrough tour. However, there is no validity in the virtual tour. It is a recorded video that may not cover the minute details. You can discover the flaws once you are at the destination. Take a Guided Rental Property Tour Walk your way to the property tour with a dedicated tenancy manager from a reputed Bangalore rental property management company like SANGAU. An experienced person can help you through the strenuous tenancy agreement and other chores. Contact us for a tenancy management consultation. The next step after buying a real estate property for income is to decide who will conduct the property management. As the owner, you must deal with legal formalities, regular maintenance, repairs, accounts management, etc. Despite being a source of passive income, it takes a lot of effort and time.
There are two ways to manage rental properties:
Read on to explore the ins and outs of investment property management. This is a concise guide for landlords who want to go the DIY route to manage their real estate assets. Investment Property Management- Roles & Responsibilities of the Owner The roles and responsibilities in investment property management can be grouped into 3 main categories. Herein is a synopsis of different types of rental property management: Property Management Efficient property management proves a prime factor in bringing in prospective tenants and profitable income. Your job starts from day one, encompassing the following aspects:
Tenant Management This is the most arduous task in the entire process involving legal procedures, managing tenancy disputes, dealing with non-paying renters, and more. Starting from scratch, you will be performing the following tasks:
If this seems too overwhelming, you can hire experienced professionals for best tenancy management in Bangalore. Accounts and Finance Management A rental property owner has to maintain all financial records to avoid problems with taxes and legal matters. It is necessary to keep a record of earnings (security deposit, rent, other charges), expenses (repairs, maintenance, utilities, property taxes, landlord insurance, etc.), and other details in the financial statements. You need efficient rental accounting software to maintain all financial records of your income property. Tips to Manage Your Investment Property If you want to manage your rental property yourself, herein is a short guide to getting started:
While fixing the rent amount, quote a rate per se for the prices in the regional rental market. With a low rent price, you will suffer losses covering the associated costs. Look into the following aspects when setting the rent price:
DIY landlords mostly place ads with popular online rental listings and local newspapers. Some property websites also offer tenant screening services. Post a video of the rental property to boost views.
If you are a DIY landlord, these repair and maintenance best practices can lower the costs:
To make a profitable regular income, you must collect the monthly rental on time. Late payments may interfere with your financial goals. Many tenants set up automated online payments to avoid unnecessary delays. For safety, include a clause for late payment fees in the lease.
If the occupant does not pay the rent, you may file an eviction lawsuit. The expenses may vary depending on the lawyer’s fees and other costs. But it is always mandatory to follow the appropriate law and order during the process. Please read our article on tenant eviction rules in India.
You will need the legal documents and account information in the future for filing tax returns, paying property taxes, etc. Using rental property software offers storage for all such details securely, and generate financial reports, tax reports, and more. Do you need help with rental property management? Contact SANGAU, a reliable firm for rental property management in Bangalore. We offer tenancy management services, NRI property management, and more. Renting an apartment in Silicon Valley is not a tough chore. From luxurious furnished flats to small homes with basic amenities, there are umpteen choices to find an ideal residence in the IT hub.
However, the demand for rented homes is skyrocketing in the post-pandemic era, especially among people relocating to the city for academic and career prospects. It is just a matter of choosing the best option that meets your requirements, budget, and amenities in the preferred location. Dive in to find out more on how to find an affordable house for rent in Bangalore here. How to Find Rental Properties in Bangalore Nowadays, you don’t have to rely on acquaintances to find an apartment for rent. There are several resources to find properties and contact landlords: Brokers/Agents There are a few reliable property brokers and agents in the city. Working with a broker can be risky unless you know the person well. You may end up losing a hefty amount in brokerage fees. Please check if the Broker/Agent is RERA registered. Finding an agent through a friend can be helpful. You may find multiple options and honest advice from the person. There are extra costs involved in the process- brokerage fees, property viewing costs, etc. Newspaper Classifieds You may get a few options in the property ads section. Finding an option in your preferred location is a matter of chance. The space is limited, so you won’t get much info before contacting the landlord. Facebook Groups It takes a few seconds to come by a group for rental property on Facebook as long as you know the appropriate search terms- ‘rent flats without brokers in Bangalore’, ‘house for rent in Bangalore’, etc. With various issues emerging in the limelight, the trustworthiness of social media sources is a matter of consideration. Relying on an unknown person can put tenants in jeopardy. Property Websites Today landlords prefer advertising their luxury flats for rent in Bangalore on popular property websites. There are several advertising sites to find a flat and contact the landlord. Finding a home on through property websites offers certain benefits:
Browsing through a long list online can be a time-consuming process. It comes with certain downsides. You must accomplish everything alone- visiting the property, completing the paperwork, etc. This can be a problem for novice tenants, students, and working professionals. Rental Property Management Rental property management companies work with landlords and tenants to offer a comprehensive solution. A property manager reduces the burden of tenants from day one. From helping the client find the desired property to dispute management with the landlord during the stay, these professionals offer high-end services. Cheapest is Often Not the Suitable Option Often people arriving in the city in search of opportunities look for the cheapest apartments for rent in Bangalore. However, rushing through the legal formalities to get the home with the lowest monthly rental is not the ideal choice. If you are new in the city, here are some considerations before choosing a house to rent:
Do you need help finding a rental property in Bangalore? SANGAU is a reputed rental property management company offering property management services in Bangalore and adjacent areas. We do not charge any brokerage or property viewing fees. For more details, please visit https://sangau.com/index.html. Letting a furnished house for rent in Bangalore is an excellent source of passive income every month. However, if the renter does not pay the dues on time, your income property investment can give you a nightmare.
Thankfully, the Rent Control Act grants specific rights to a landlord to evict a tenant for not paying the outstanding rental charges. In this guide, we have explained how to evict a tenant legally (provided you have enough reasons to do so) from a rented property in the Silicon Valley of India. What to do if the Lessee does not pay the Rent When you lease house to a renter on a legal agreement, it is vital to include the terms and conditions that follow in the event of failure to pay the monthly rentals. In general, eviction is the last resort if the tenant seems reluctant to pay the dues after a mutual conversation or delays the process. The first step is to send a legal eviction notice to the occupant, asking the person(s) to leave the house. Mention the due time in hand and the consequences that follow if the occupants do not move out. On What Criteria Can You Evict a Tenant The provisions of the Rent Control Act in India vary from state to state. In Bangalore, a landlord may file a lawsuit for eviction against the tenant for not paying the rent under section 27 (2) of the Karnataka Rent Control Act 1999 on the following grounds:
Evicting a Tenant as Per Govt. Rules in India In one or more of the above events, a landlord may proceed to evict the lessee. Following are the eviction procedures under the Rent Control Act: 1- Send a Legal Eviction Notice Asking the Renter to Vacate the House The landlord must approach the concerned court under the jurisdiction (based on the property location) to issue a legal notice for eviction. This legal document should clearly state the reason for sending the notification. The tenant should be allowed reasonable time to relocate somewhere else and vacate the property. In most cases, the lessee may follow the notice and leave the property. 2- File an Eviction Lawsuit The tenant may refuse to comply with the initial notice and contest the eviction in court. The landlord may hire a property lawyer to file a suit as the last resort if the tenant refuses to vacate the property after receiving the eviction notice. Both parties must proceed with the lawsuit in the civil court within the jurisdiction of the concerned property. The court will pass its judgment after hearing both parties. Once the court issues the notice of eviction, the tenant is bound to abide by the orders. Are you looking for rental management services? Contact SANGAU for rental property management in Bangalore. From rental property marketing to tenant screening to rent collection, we offer a range of services for single and multiple properties. A good landlord earning income by renting a residential property understands the expectation of the tenants when renting a house. Potential tenants are ready to pay higher rent for a residence if they find it suitable for their needs.
Herein is an overview of things renters evaluate when choosing a new home. Read on if you want to offer a house for rent in Bangalore for a regular source of earning.
Often there is an inclination to set a high rent to maximize earnings. However, the idea may not work if the property remains vacant for the long term. A reasonable pricing structure is suitable for a steady flow of income throughout the year.
Apart from CCTV cameras and security alarms, homeowners nowadays install safety deadbolts and key-operated window locks for security. Outdoor motion lights and door sensors are also installed to prevent thieves and burglars from entering the home premises.
If you have a garage within the boundaries, the renter with a personal vehicle may show interest in the property. Some people also prefer keeping extra belongings in the garage space than within the house.
Are you looking for tenancy management for your rental property? SANGAU offers the best-in-class Bangalore Rental Property Management services. Contact us to know more about the solutions we can provide for your property business. For More details visit https://sangau.com/ An investment property owner who aspires to offer his apartment for rent in Bangalore should know the possible situations that may emerge with time. You have done everything for property management, have the best-in-class finance management system, and a lawyer to handle the legal paperwork. What about tenant management? Keeping your tenants satisfied and happy is the secret to success with income property. Among other things, dealing with tenant complaints is often complicated, involving a lot of work. Fortunately, it is possible to do this yourself. Here are a few common problems tenants may have and ways to deal with them. Complaint 1: Repair and Maintenance Issues Damages may happen at any time, so rental properties are no exception. A tenant has limited rights to conduct repair work at the rental home. This is one reason; landlords receive several complaints about damages and request repair/restoration work. Solution: Schedule a Repair/Maintenance Work A lease agreement should clearly state the terms and procedures for raising a maintenance request. To ease things for the tenants, the rental property management in Bangalore allows the occupants to submit a maintenance request by filling up a form online. Upon receiving the request, talk to the occupants and fix a suitable date for the much-needed maintenance work. Complaint 2: Excessive Noise in the Neighbourhood Noisy neighbours can create a lot of trouble for renters. From spoiling the entire day to affecting peaceful sleep at night, loud sounds can be disturbing for the inmates of the house in many ways. The dwellers can encounter various noisy neighbour issues ranging from shouting children to loud music. Solution: Take Appropriate Measures As an initial step, you may talk to the neighbours peacefully about the problem. If another tenant is responsible for the problem, it is easy to give a warning. If the rental property is located in a noisy area such as a market or high-traffic road, consider doing soundproofing in the rooms to eliminate such problems. Complaint 3: There are Pests in the House Rodents, cockroaches, ants, flies, and mosquitos can pose severe health risks for your tenants. It is justified on their part to complain about these things. Solution: Conduct Pest Control Treatment at the Earliest Most landlords do pest control treatment as a preventive measure before the tenants move in. However, the problems may persist. If so, you may contact a certified pest exterminator. These professionals possess expertise in removing pests from the house and preventing further infestations. Complaint 4: Landlord Not Responding to Communications An occupant in a rented house may need support anytime. Whether a damage issue or problems with neighbours, they expect to find help from the landlord or their property manager. When the property owner or the manager does not take calls or reply to emails, they can feel anxious and helpless. It can be a blocker in your relationship with a potential tenant. Solution: Be Prompt in Replying to Calls and Mails from Tenants Be available to a tenant via phone call, messenger app, or email. Responding to communication at the earliest helps win the trust of the renters. Listen to their complaints patiently and offer help in the best possible way. Communication gap is often a problem when the owners of the flat/apartment in big cities are settled overseas. If this is your problem, it is worth seeking help from a reliable company offering Apartment for Rent in Bangalore . Complaint 5: Property is not Clean Enough for Move-in No one likes to move into a rented house that was left dirty by the previous occupant. It can be a disappointment for a tenant to see everything messed up on the date of arrival at the new home. Solution: Clean the Property After a Tenant Vacates the House It is the responsibility of the landlord to do thorough cleaning and maintenance work before a new tenant arrives with the belongings. If you have received a complaint, it is necessary to do the essential work to ease things for the dwellers. Coplaint 6: Pets and Stray Animals on the Premises Some pet complaints are urgent and must be considered an emergency. This may include: An animal causing harm to other residents in the apartment/neighbours
Solution: Look into the Matters at the Earliest Attend the emergency matters at the earliest to ensure your tenant’s safety. Even if the pet is not harmful, the other problems are significant to be addressed as early as possible (within a week).
This is a problem for tenants and homeowners alike. A smoking neighbour can make life miserable. Similarly, the foul smell liberated from the drains and plumbing is annoying and unhealthy. Solution: Inspect and Resolve Ask the neighbour to avoid smoking near your property. If the problem persists even after the mutual conversation, you may send a legal notice to deal with the matter. For bad smells, you may hire a reliable plumber to clean the drainage outlets, sink pipes, or other attachments to sort out the issues. Do you need help in dealing with tenant complaints? SANGAU tenancy management in Bangalore can help you through such problems. Our dedicated tenant manager can take care of your renters and their problems. Reach out for a consultation to know more about our tenant management services. Searching for the ideal fully furnished flats for rent in Bangalore can be both thrilling and demanding. This city is renowned for its dynamic blend of cultures, a thriving job market, and a superior quality of life, making it a desirable place to reside. Nevertheless, given the numerous neighborhoods& property choices, it's essential to approach the rental market with careful deliberation.
The city provides a diverse array of housing choices, including apartments and villas, to accommodate different budgets and preferences. When in pursuit of fully furnished rental apartments in Bangalore, keep these guidelines in mind: Location is Key: Opt for a neighborhood in proximity to your workplace or one with excellent connectivity to major IT hubs such as Electronic City, Whitefield, or Manyata Tech Park. Arrange Physical Property Visits: Although online resources can be informative, it's vital to personally visit prospective rental properties to evaluate their condition and appropriateness. This also provides an opportunity for direct interaction with the landlord or property manager. Amenities: Look for properties that offer essential amenities like 24/7 security, power backup, and parking facilities. Verify Legal Documents:Before finalizing your agreement concerning Furnished Flats for Rent in Bangalore, ensure that all legal documents are in order. This includes the rental agreement, security deposit terms, and any additional clauses. Legal clarity is essential to protect your rights as a tenant. Budget: Set a realistic budget to ensure you find a comfortable & affordable Apartment for Rent in Bangalore.Don't hesitate to negotiate the rent and terms with the landlord. In Bangalore's competitive rental market, landlords are often open to discussions, especially if you're a responsible tenant. Ensure a Smooth Transition:Once you've found the perfect apartment for rent in Bangalore, make sure the transition is smooth. Complete all necessary paperwork, understand the maintenance and repair procedures, and have a clear understanding of your responsibilities as a tenant. Conclusion: Embarking on the quest for the ideal furnished flats for rent in Bangalore is an exciting stride towards embracing the city's rich tapestry of culture and its myriad opportunities. Through meticulous planning, thorough research, and a keen eye for detail, you can secure a cozy and convenient rental residence tailored to your requirements and tastes. Initiate your search with assurance, and set forth on your fresh adventure in this lively and thriving metropolis. Scheduling a property tour of your house for rent in Bangalore for prospective tenants?
The event can be fretful for you if the house is not in good condition. Peeling walls, chipped kitchen tiles, and poor fixtures may gross out the visitor. It only means losing a potential renter to another property owner in the city. Every penny spent on remodelling a rental home is a worthy investment. Needless to go over budget for this. Luckily, there are several low-cost renovation options to bolster the vibes to create an impression on your next tenant. Herein are our best tips to cut costs when renovating your rental property. #1. Interior Painting Tenants are highly concerned about the internal walls of the house. Painting your rental apartment is an investment. Besides the mood-lifting ambience, it strengthens the wall structure and prevents damage due to weather impact. There is a painting solution for various price ranges. A coat of distemper paint is sufficient If a tenant is leasing the house for a short time (6-11 months). An elementary project costs Rs.10/sqft. However, this is not a long-term painting option. Investing in emulsion paints is your best bet to protect your walls from moisture, fungus, and peeling. #2. A Basic Modular Kitchen A simple kitchen project can cost around Rs. 1200-1500 per square foot. However, if you already have wall tiles, marble flooring, and granite countertops no need to do much with the renovations. Only the painting job is sufficient to get the kitchenette ready for the new occupants. However, the costs can surge if there are problems in the plumbing, sink, and other areas. #3. Bathroom Renovation on a Budget Bathroom restoration takes up a bulk share of capital in the apartment maintenance project. Before you even proceed, think if it is necessary. If the wall tiles and flooring are in good condition, you may hardly need to change anything. Here is a checklist to ensure you get the bare essentials ready:
Traditional homes with concrete or red-oxide flooring are prone to damage. Such homes look uninviting to the millennials and generation Z. If you need a suitable option to renovate a damaged floor, installing vitrified tiles is your best bet. Vitrified tiles are affordable and beautiful pieces for supreme durability. For intact floor structures, you can install laminates to accentuate the aesthetic appeal. Marble surfaces may lose their sheen over time. If this is your problem, it is wise to do polishing to refresh the look and feel. #5. Veranda/Balcony When a tenant reaches your property, the outdoor premises grab the attention. If a house looks dull outside, the visitor has hardly any excitement to enter the house. While exterior painting is a wise investment decision, you can do much with the balcony makeover. For instance, a rattan patio set in a Furnished Flats for Rent in Bangalore can mesmerize the visitor and influence the renting decision. An exquisite, vibrant colour theme is the best feature to redefine the environs in your veranda when you are on a budget. SANGAU is a premier company offering property management services Bangalore. From rental property renovations to the tenancy agreement, our experienced professionals make rental property management a seamless experience for landlords in the city. Get in touch to know more about our tenancy property management solutions. Are you searching for a 2BHK for Rent in Bangalore? You can find rental rooms on your own, but it takes time and effort. On the flip side, seeking the help of professional and reputed property managers can be a smart choice. They are committed to providing you with affordable and convenient 2BHK rental options as per your expectations. Advantages Of Choosing A 2BHK For Rent In Bangalore- Spacious Living- 2BHK rentals are specious enough for comfortable living. For a small family, a couple or someone seeking a home office, these 2BHK rental options have got you covered. You just need to find the right one at the right location. Cost-Effective- Every tenant wants affordable rental options. Reputed property managers understand the importance of affordability. They provide rentals that are competitively priced with no hidden costs. You can get value for your money. Amenities Galore- 2BHK rental properties come with a range of amenities such as 24/7 security, parking facilities, power backup and well-maintained common areas. It ensures your safety and convenience. Proximity to Key Locations- You can find the right place for your 2BHK rentals that are close to your workplace, schools, hospitals, and recreational areas. It saves you time and effort. Why Choose Reputed Property Managers? Professional service providers can go the extra mile to give you the best deal. Here's what sets them apart- Responsive Customer Service- Professional property managers ensure a smooth rental process. They never delay to address your concerns and help in every possible way. Well-Maintained Properties- They maintain properties to the highest standards. Regular inspections and on-time maintenance ensure clean and secure surroundings for the tenants. Transparent Contracts- Property managers ensure transparency and simplicity. The rental agreements are easy to understand, with no hidden surprises. In a nutshell, choosing a 2BHK rental in Bangalore is a clever decision. It offers affordability and convenience. You can also choose 3BHK for Rent in Bangalore for more space for your family. This is where a property manager can give you the best possible rental experience. Make sure your property manager is licensed, reputed and reliable. They should ensure customer satisfaction. This is where SANGAU comes in. All properties managed by SANGAU are verified and tenants always rent property from the company. You can select from a large portfolio of Semi-furnished or Fully-furnished House for Rent in Bangalore. For the best 2BHK for Rent in Bangalore, visit www.sangau.com |
AuthorSANGAU is a Property Management and Rental company with operations in Bangalore. We are in operation since 2007 and provide services to property owners and tenants. Archives
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