Residential Management Agreement: Fill & Download for Free

Welcome to one of the classical problem NRIs face: managing property and Investments in India while abroad. A couple of facts on property management:Property management business, even in mature markets like US is highly localized. Property managers who manage residential properties operate in individual sub-divisions or cities. This is because the needs and rental markets are very localized. There are very few “large” chainsThe Property management sector in India is still highly un-organized and un-regulated.Any “agreement” or contract you sign will be based just on faith and trust. Look at it this way: if things go wrong, can you take someone to the court? Sure. But the Indian legal system is clogged and civil cases take years to be resolved.Given the risks, most NRIs trust their family and (close) friends to manage their properties.All this doesn’t mean there aren’t any trustworthy players in the market. A few startups are beginning to make inroads (some have also responded in the responses below). Some of them continue to build credentials via referrals.If you really need a Property-Manager, word of mouth referral is perhaps the best way to go. You might also want to check with local real-estate brokers who have been operating in the neighborhood for a long time.| Upvote if you agree |

Hi Jaspreet,Well, if you find it difficult to discuss the issues with your tenant directly, for whatever reason, then a property manager could definitely be helpful because you could have them do all the talking.Just be sure that you go over the management agreement carefully and that all the points therein are acceptable to you.Thanks for asking!K

A good property management company cares for your investment property. But most companies here are using your property to grow personal revenue.Here are the few ways, how most of the companies lure your investment returns,Sub Lease:They don’t care how many people to accommodate, all they want is high return so they accommodate as many people as possible. This certainly damage you propertyRenting residential property to commercial purpose, Which is not legally permit but some property management does such crap without your knowledgeRenting your property to un-preferred tenant such as nuisance bachelor, this might affect your emotional sentiment towards your property.You migh not know, who is your tenant, what is the family size, what was the rent drawn by property management from tenant, What was the security deposit drawn by property management company. Most property management company doesn’t reveal true information or lack of informationFinancial:Most company draw more rent and security deposit from tenant and offset very less to you. Exact % of cut from tenant is not revealed by many.Most companies demand brokerage at every 11 months, This is absolute cheat, why do you want o pay recurring brokerage when they want to place tenant just once.Avoid hefty registration charge, recurring month service charge and renovation cost up on all like painting, cleaning, plumbing and carpentry.Solution:Never ever sub-lease your property to any property management company. This leads you to lack of knowledge about your own tenant, rent, security deposit, who is tenant, how is the property maintained etcAlways sign rental agreement directly with your tenantDeal all financial transaction directly from tenant, don’t allow any intermediate to control your investment cash flow, have your own control on this for healthy financial returns,Hire a property management company,who doesn’t sub-lease your property?who doesn’t have recurring monthly service charge?Rental agreement executed directly between owner & tenantAll financial transaction (security deposit & monthly rent) done directly between owner and tenant.seamless communicationIf you looking, this model of operanda We PGN PROPERTY MANAGEMENT is a end to end property management company exclusively for property owner.We never ever sub-lease your property, your property will be rented directly between you and tenant. We just act as co-coordinator to rent your property here.Rental agreement will be executed in the name of you and your prospective tenant. we are a sole witness in the agreementAll the financial transaction (security deposit and monthly rent) are done between owner and tenant. we act as co-coordinator and no transaction will be routed through company (PGN PROPERTY MANAGEMENT)We don’t have recurring monthly service charge like most service provider. We just charge on task basis. Our prices are very affordable and competitive in market.We provide seamless communication and open information between tenant and owner.( we provide as much information about your tenant including contact details for free communication flow)We coordinate and report all your local needs pertaining to your property at very affordable cost.Please reach us [email protected] or call +91–9742479020 (Also available on whats app)Thank you for reading…