All posts by Myfollo

5 Ways to Increase Chances Of Selling Property Fast in India

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Selling a property in India could take from five minutes to five months and yet you may not find the best fit. So, to sell the property fast, here are five points to remember:

  • Ask for the right price
  • Read about the market trends
  • Bring out the best in your property
  • Market your property well
  • Establish a personal connection with the potential buyers
Tips to close the deal of selling your property fast
Tips to close the deal of selling your property fast

Ask for the right price

If there’s anything that kills a real estate fast and quick, it is quoting the wrong price for a property. One of the best property selling tips is to offer the right price. Nobody likes to buy an overvalued property. Try not to let your sense reasons for selling decide the cost.

However, if you have already picked the best real estate agent or a property dealer, you can trust them to get you the best deal. It does not mean you should not voice your opinion in the decision, but to sell a property in Delhi & Gurgaon, you must pick a value that will attract purchasers towards you.

The other way to look at this is if you value your property aggressively, you may even take the bidding war to a point where the buyer makes an offer that you had wanted in any case. You can also win the property selling war by only making some minor fixes in the house where they are needed.

By doing so, you can gain buyers’ interest. Some of the other factors responsible for selling a house fast are its location, social surroundings, physical building, and the availability of conveniences.

Don’t overvalue your property

Read about the market trends

It is in the best interest of the buyer to understand the property buying patterns within their vicinity. It assists you in providing the correct cost estimate for your property. Likewise, it spares you from a lifetime of the disappointment of selling your property in haste or at a must lesser cost that you would have got.

Learn more about the properties that are up for sale in your location and what do they cost. Considering the interest in your area and how much the buyers are willing to spend could be important points to remember while selling property in India.

Analyze the ongoing trends in Real Estate Market
Analyze the ongoing trends in Real Estate Market

If you ask for a higher price than your competition, selling a property can become difficult, except if your asset has some novel highlights, which makes it distinguished from the rest.

Bring out the best in your property

Eliminate all the unnecessary things that you may not need in the house. Pack the most part of your stuff in boxes and allow buyers to see the open spaces of your property. It is significant for the buyers to envision themselves in the home.

Bring out the best in your property by repairs and maintenance
Bring out the best in your property by repairs and maintenance

If the house is perfect, and without making any changes, it can fit in their imagination, selling a house may be simpler. Moreover, less mess makes the selling a property look more extensive. Replace damaged tiles, fix stuck drawers, and doors that don’t close properly. Guarantee that all lights switch on and that there are no broken taps. It is all about repairs and maintenance that are needed in your property that can make a huge difference.

Great interiors and lights significantly function in selling a house. Lights make your home look bigger, and divider mirrors work admirably in enhancing the light. Changing old bulbs to new higher power ones can also increase the intensity of light in your house.

Market your property well

List your property online on the property listing sites. Perhaps the best way to sell property in Delhi & Gurgaon is to put it online for the buyer to see it on a greater platform. You can even submit your mandate at real estate companies website that can help you in selling your property online fast.

While posting your property on the web, guarantee that you give enough good quality photos of the interior and the exterior of your home. Since online property forums have the gigantic reach, these property marketing tips can increase your chances of accepting queries from certifiable purchasers. 

digital marketing for real estate
Hire a digital marketing company to market your real estate

Also, marketing property among your colleagues, friends, family members, neighbors, and so forth can ensure prospective buyers in your region will know your property is up for sale. Ask your companions and family members to inform interested individuals about your property. Getting the news out in your workplace is a decent way to get an ever-increasing number of buyers. The entirety of this will help you to sell the property fast as a greater number of purchasers will come to see it.

In this digital era, you can also search for a potential buyer on social media platforms by effective strategies like Social media ads.

Establish a personal connection with the potential buyers

While selling a house, you must follow one of these property selling tips. Inviting your possible buyers with warmth and a courteous manner, is an unquestionable requirement to have a decent first impression. Keep in mind; buyer fulfillment is central to a property selling deal. The more joyful your purchaser is, the more will be your odds of selling the property fast. Build a decent relationship and trust level with the buyer that they want to deal with you. 

personal connection with the potential buyers for selling property fast
Stay in touch with potential buyers for your property

Another property selling tip you should remember is when the buyer visits your property, you must give them their space. Buyers require time to break down certain things before deciding. Giving them space and letting them check your home until they are satisfied with it is what you must remember while selling property in India. Standing aside and not coming in their way while they look at the house is an excellent and humble practice to be followed. 

Conclusion

Your job of selling property does not end here. These are not just any property selling tips; in fact, these are what buyers root for when they are looking at properties. Plan well to sell a home before you even put it out in the market. Tidy up your space. Get the documentation right. Supplement your endeavors to sell the property at an alluring cost with enough research and expert advice. 

Real Estate Vs Stocks: Which Has Better Returns on Investment?

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The choice between real estate and stock markets is dictated by choice, personality, and risk appetite. There are only a few stocks that can beat the appreciation of prime property and no amount of real estate investment can compete with an early-bird investment of blue-chip stocks.

Which has better ROI? Stocks or Real Estate

Preferring Real Estate Investment to Investment in the Stock Market

Real estate requires a lot of research and is an asset that cannot be readily liquidated into cash. Some real estate is a cash-generating like apartment buildings, rental houses, and strip malls. This is a much more comfortable investment for lower and middle classes as they are more exposed to this kind of investment. Rents provide an important source of cash flow every month and therefore improve the amount of cash in the long run. 

The chances of fraud are minimal within real estate as owners can physically inspect the property for damages and repairs. The availability of home loans grants landlords an opportunity to invest within structured debt for appreciation. 

commercial real estate investment
Commercial Real Estate Investment

Property has been a significant hedge against inflationary pressures in an economy and therefore safeguards money against inflation. Owning a tangible asset can grant more control through its investment. 

Real estate provides some tax benefits as income derived from real estate is not subject to income tax. Rent provides an income shield against mortgage payments. Dividends from stock are uncertain as compared to rental income that is fixed for the duration of time. 

The prices of real estate property appreciate over some time and have an intrinsic value from which it cannot fall. Real estate provides an excellent method to use borrowed capital to accelerate the number of holdings in the same sector. This is the most common method of using leveraged funds.

real estate value appreciation
Real estate value appreciates over time

Responsible investment in real estate improves community standards by improving housing availability, maintaining the property, and increasing local tax revenue. Repairing and maintaining dilapidated housing enhances the self-esteem of neighbors and other rentals in an area. 

This field provides an excellent route for entrepreneurship and real estate companies foster some kind of business spirit between tenants and landowners. Real estate grants people an opportunity to monetize property through its rent, lease, or sale. Real estate investment can be partial, and all potential costs can be dispersed unto loans. 

Preferring Investment in Stocks to Real estate

Buying stocks and reinvesting its dividends generates wealth over a long period. Stocks are a liquid form of investment and are purchased or sold at ease as compared to real estate. Share purchases grant a small part of the ownership of a company. How stock market works in India is detailed concept in itself so we won’t get in that.

Diversification of stock portfolios is more accessible in the stock market as compared to real estate investment. A transaction fee within stock markets is significantly cheaper than real estate transaction costs. 

investment in stock market
Investment in Stocks

Stocks provide dividends; these are a portion of a company’s earnings distributed to all shareholders. Stock ownership does not generate any kind of workload for shareholders. The amount of capital required for investing within stocks is significantly lesser than real estate. 

Real estate requires more massive amounts for initial investment, and all company ownership bought and sold from stocks can as little as a single share.

Share ownership grants voting rights to holders at annual general meetings and also grants control at a majority share. Purchases are made at ease by opening up a brokerage account. Stocks markets facilitate buying and selling stocks and make transactions convenient for shares. This form of investment grants capital appreciation as a potential return for investment.

why invest in stock market
Stocks markets facilitate buying and selling stocks

Share ownership carries limited liability, and therefore holders are protected from the financial obligations of a share and liable to the shares face value. Common stocks are a crucial means for companies to raise capital for expansion. 

Substitute for traditional real estate – REIT (Real Estate Investment Trusts)

A real estate investment trust (REIT) is a company that holds, finances, and operates properties to generate income. This can generate a steady stream of income for investors but offer little capital appreciation.

Most REITs are publicly traded stocks and are considered highly liquid investments. Apartments, data centers, healthcare facilities, and hotels are traditional properties held at REIT portfolios. REITs can earn rental income, management fees, and mortgage income. This tends to focus on a particular segment of properties and leads to specific types of companies. 

real estate investment trust
How Real Estate Investment Trust works?

A lease is a contract between an owner and user of a property that lasts for twelve months or more. Both a landlord and lessee can sign an agreement that grants the right to operate a business on the property in exchange for some compensation. There are different types of leases available for investments. This concept is different from rent as rental agreements only last for a month.

Fix and Flip Strategy refers to a strategy of purchasing property and then renovating it with anticipation of profit. Investors buy property at a discounted rate due to its conditions of disrepair and invest in its upkeep and repairs. 

Real estate wholesaling refers to the practice of contracting home with a seller then finding interested parties to buy the home. This kind of seller generally finds distressed clients for contracts and puts their properties for sale. 

5 DIY Interior Designing Ideas to Transform your Rental Home

The most amazing thing about staying in a rented place is the sense of independence and the endless scope of DIY interior designing.

To truly make a rental into a lovely cosy home, one needs imagination and a lot of interior designing ideas. So, we got our best interior designers for rentals in Delhi and Gurgaon to share some of their trade secrets to budget-friendly home decorating ideas.

Home decoration with plants

Plants are one of the simplest and underrated items that can instantly liven up any place in the house. They provide much needed green respite from the concrete chaos that surrounds us. Plants are a wonderful source of oxygen and are also the most viable air purifiers that you can have. Bedroom, living room or bathroom, there’s a plant for every room, and we’ll tell you which ones are best suited for you.

home interior designs with plants
Rental Home Decoration with Natural Air Purifiers

Let’s begin our journey with the plant kingdom in DIY interior designing ideas .

  • Pothos or Money plants are commonly found and easy to maintain. Put the cuttings in a bottle or vase filled with water and place it on a bookshelf, coffee table, etc.
  • Succulents are a beautiful addition to your home. They are low maintenance and come in tiny sizes too.
  • Mother in law’s tongue or snake plant is another hardy plant that can stand neglect. If you need green in the bathroom, then this is your go-to plant.
  • Grow herbs if you have ample sunlight coming through, herbs like mint look pretty and smell great too.
home decoration with plants
Home decoration with plants

If you’re confident about your green thumb, go in for big plants and place them in a lovely cane basket which can be found for cheap, trust it to bring the that adorable look to your house.

Kitchen interior design tips

You may think that home decor ideas stop at the kitchen, but we have some good news for you. You can revamp the kitchen interior design as per your requirements in a budget-friendly and easy way too. Don’t like the colour of kitchen cabinet, there’s a quick fix solution for it, vinyl stickers. They come in a plethora of colours and designs which can instantly personalise the cabinet according to your preference.

There are a host of interior design ideas for kitchen.

  • Use bright, peppy wallpaper to cover boring or dark walls
  • Deploy washi tapes to write creative messages on the kitchen wall
  • Grow herb plants if your kitchen window gets ample sunlight
  • Change the existing modular kitchen designs with vinyl stickers

Stick them on and give the kitchen interiors a whole new look. When you’re moving out, you can remove them easily and return the kitchen to its original state.

Kitchen interior design tips
DIY Interior Ideas for your Kitchen

Interior design ideas small bedroom

The bedroom is where we retire for the day, chill during holidays and sometimes turn it into a micro-office. It unknowingly reflects our innermost personality and aesthetic preference. Whether it is a collection of photographs or a fiercely private memento box or a half-read book lying about, bedroom becomes your own private haven. It doesn’t matter how small space is; there is always a scope to do many beautiful things.

We’ll let you in some DIY home decor tips to brighten up your bedroom decor.

  • Don’t have a budget to buy a cot? Place the mattress on the floor and fluff it up with some comfortable cushions of different shapes against the wall.
  • Use lights creatively to brighten up dark corners and make the bedroom look more spacious.
  • Keep a climbing plant for the company and let it grow to create a natural canopy around the bed.
  • Have photos of your loved ones on the bedroom wall, clip the photos on a string and change them according to your mood.
Interior design ideas small bedroom
Styling your bed on the floor
DIY Interior design ideas small bedroom
Clip photos to a string or the wire of lights

It’s beautiful how smart tricks like the placement of lights, plants and light curtains can make a small bedroom look spacious.

DIY interior design ideas living room

The statement-making room of any home is the living room, even if it’s rental. Doing up the living room can be a very therapeutic experience once you begin with collating your inspirations from around the world. Once you close in on the look according to space and personal preference, it’ll be quite an easy job thereafter. To up your game in rental interior design for the living room, there are many amazing ideas that you can begin with.

Interior design ideas for living room
Interior design for living room of your rental home

Here’s a collection of some DIY interior designing ideas you can get inspiration from:

  • Introduce a rug in your living room, cotton dhurries are easily available and are pocket friendly too. They come in many sizes, making it easy for you to choose one to your liking.
  • Place a mirror opposite to the natural light source and watch your living room become instantly bigger.
  • Pellet boards are a convenient piece of furniture to use as a coffee table, plant table or even a book stand.
  • A simple DIY for curtains is to use unused sarees or dupattas and add on some quirky accessory for that bohemian look.
Interior Decoration with Used Duppattas
Interior Decoration with Used Duppattas

Before you begin the transformation, do observe the natural light sources, dark corners, and floor space. It’ll help you in deciding on the placement of accessories and also saving a lot of time and money.

Photo Gallery for interior designing
Photo Gallery over a Nail-Free Wall

Craft ideas for home decor

One of the fun things about DIY home decor is that it allows you to create stuff with your own hands. The process of creation is known to be quite therapeutic and meditative according to experts. It could be as simple as framing your mandala design or a vintage magazine cut out, it’ll engage your senses like no other activity. The joy of creation is unparalleled, but we also understand that it shouldn’t be time-consuming and expensive.

Empty and Used Bottle Decoration Ideas for interiors
Empty and Used Bottle Decoration Ideas for Rentals

We curated a few easy craft ideas for you to try your hands-on:

  • Empty bottles are a perfect canvas to unlock your creativity. Paint them and add in fairy lights. Not only it’ll give a cosy, warm feel, it’ll also be a beautiful accessory to accompany a nice photo.
  • Jazz up photo frames with shells and small pebbles that you collected from your travels. It’s an excellent way to remember your travel memories and making your frame look one of a kind.
  • Give the mason jars a coat of paint and use them to place tea-lights—a perfect way to recycle and also be creatively resourceful.
  • Repurpose an old wooden ladder by giving it a nice coat of paint and use it as a clothes holder or a place to keep your souvenirs.
ladders for interior designs
Get everything out of that ladder beside just for climbing it
budget friendly interior designing ideas
Budget Friendly tips for Interior Designing

Just by making small changes and repurposing everyday items, you can enhance the look of your rental home.

Rental room designs can be easy, affordable and creatively satisfying. Take inspiration from Pinterest and Instagram, there are loads of ideas to choose from and begin your DIY interior designing journey.

Rustic Home Decor Ideas
Rustic Home Decor Ideas

Conclusion

In case you wish to hire a professional interior designer in Gurgaon or Delhi for your rental home feel free to contact Propcare, a property management company in India & also a division of Myfollo, a real estate company based in Gurgaon.

10 Reasons to Hire a Property Management Company in India

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Property Management is a way for third-party companies to leverage their expertise in maintaining the residence’s status quo and appeasing the tenants. Several rental property owners are availing rental property management services in India to oversee the day-to-day undertaking of the property and dealing with the queries of the occupants. 

In the event of a vacant property, it is the responsibility of the property managers to put the residential abode on rent. From property evaluation, tenant screening, signing a lease, collecting rental payments, marketing vacant spaces, property inspection, interior designing services, and maintenance—Property Managers do the tedious job of property maintenance services in India.

Property Management Services for NRIs in India
Property Management Services for NRI in India

Why to hire a property management company?

Hiring a property management company requires adequate due diligence to avail the best propcare service to manage your asset.

1. Eases the perils of tenancy management

From screening the tenant’s records, rent collection, sorting disputes amongst the tenants, or resolving problems between tenants and other members of the society—a property manager is always on his toes to amicably resolve these perils hour of the day.

Tenancy Management Services in India by PropCare
Tenancy Management Services in India by PropCare

2. Handles odd hour requests for keys and other essentialities

While it may not be possible for a landlord to show up at 3 AM to give a pair of duplicate keys to the tenant, property keys management companies have employees to carry out these reluctant jobs. Besides, they also cater to the other needs about the property from circuit breakage to solving water problems.

3. Provides Legal Services

Tenancy Management is a hassle, especially for the NRIs. It gives more reasons to hire a property manager trained professionally in handling tenant eviction in the pursuit of non-payment of rents. They have the expertise in offering legal and liaison services to the owners to safeguard them from administrative hassles.

Handling of legal cases for Properties for NRIs
Handling of legal cases for Properties for NRIs

4. Repairs and Maintenance of Property

One of the imperative reasons to hire a property management company is the timely maintenance of the real estate asset to attract potential tenants for high rental income. Their property maintenance service starts at every level of the house, from resolving the slightest wall crack to plumbing perils.

5. Leverages vendor management with ease

An untimely vendor responsible for supplying goods and services at the doorstep can ward off the tenants with their unpunctuality. Property managers handle this task too as they have good contact with reputed vendors, merchants, suppliers, etc.

6. Ensures seamless vacant Property Marketing

With their innovative and effective marketing strategy, property management companies’ unswerving efforts are leveraged to place the right advertisement for their asset, determine the best rent rate, and supervise cosmetic enhancements to maximize the revenues.

7. Aids in tax assistance

Paying residential tax is a tedious task for many owners; hence property managers can aid in giving expert advice on claim deductions and organizing essential documentation and forms to avail the claims. Property management fees are tax-deductible.

8. Alleviates the investment value

Real estate is an imperishable investment with increasing value, but seeking advice from a professional property management firm can offer feedback and suggested modification upgrades that can bring in high rental value and impact maintenance and insurance costs.

9. Acts as a bridge between tenant and landlord

For property management India, NRIs often hire property managers who conveniently clarify any property related issues for the tenants on behalf of the owner over the phone or by making personal visits. Besides, they are professional entities refraining tenants from making fake excuses or creating emotional turmoil at the time of rent payments.

Property Managers act as bridge betweeen tenants and owners
Property Managers act as bridge betweeen tenants and owners

10. Enables owners to enjoy rental benefits without compromising on freedom

Real estate investment is often seen as a passive source of income for many owners. But the hassle of maintaining a property is cumbersome. So, hiring a property management company to oversee the residential rental and maintenance procedure can enable a consistent income source without the owners taking new tenancy management and legal responsibilities.

Propcare—A Property Management Company in India

Propcare, a division of MyFollo, is a prominent property management company in Gurgaon, offers innovative Propcare services with a customer-centric approach. MyFollo envisages transforming the way real estate advisory and transactions have been going on for decades.

Leveraging 15+ years of advisory expertise, the firm has been successfully offering Propcare services in the Delhi NCR region. Offering its gamut of services, MyFollo has created 2500+ HNI relationships, manages assets worth 9600 Cr+, executed 1200+ transactions, and provided assistance to 23+ family offices.  

Responsibilities of a Property Management Company
Responsibilities of a Property Management Company

Services provided by Propcare

  • Marketing and Lettings (the action of renting out a property)
  • Rent collection & Deposit
  • Possession Assistance
  • Property Keys Management
  • Property Maintenance & Repairs
  • Tenancy Management
  • Interiors for Rentals

Procedure to manage your property with Myfollo

With the intervention of technology at its core, MyFollo offers a gamut of Propcare services in Delhi NCR, including property marking, rent collection & deposit, possession assistance, key management, property maintenance, and tenancy management.

how to submit your property for mandate to MyFollo
Process to submit your property for management to Propcare, a division of MyFollo

At MyFollo, the proficient team of professionals has a personalized dashboard for every customer to maintain their real estate assets. To avail their quantum services all, you need to do is – 

a) Select an online Propcare management package from their specified list of property packages for vacant, rented, including a special package for zero upfront brokerage

Property Management Packages delivered by MyFollo
Packages offered by Myfollo

b) Make an online payment for the package you select and sign a contract

c) Once done, in the next step there will be a generation of the property management schedule

d) Now you have access to an online property management dashboard to view all the related activities to your property

Client testimonial

MyFollo empowers its business on a performance-driven culture and has a mission to offer top-notch propcare services to its clients. Over the years, the firm has achieved exponential success in offering relentless services in real estate transactions and asset management.

From preparing IM, conducting meetings with potential investors, and finally effective and efficient structuring of the deal, the firm aided Finance Jackson Group with its Commercial real estate in Noida. As for the Unified Credit Solution, the firm has leveraged dynamic end-to-end Propcare services in Gurgaon from fulfilling their mid to long term objectives for managing their real estate assets. 

An expert in handling property management services in India, MyFollo, with its team of proficient, knowledgeable, and proactive professionals, offers multiple suggestions on the real estate portfolio. They enable seamless transactions for Kinetic Motor Company Ltd., thereby aiding them to resolve the complexities of decision-making at family offices.

Bottom-line

Today significant cities Pune, Mumbai, Bangalore Chennai, and Delhi NCR are the booming hub of the rental market owing to the fast-paced IT Hubs that have come up over the years. Seeing a market opportunity, several NRIs and residents are increasingly investing in these properties as they offer high rental income and capital appreciation.

But being a landlord is a daunting task, especially if you plan on placing your residential abode for rental usage. From maintaining an attractive state-of-art décor to dealing with troublesome tenants’ legalities, the task seems never-ending! To ease the landlord’s job and reduce the hassle of NRI Property Management, several prominent Property Management Companies in India offer innovative end-to-end property management solutions.

Problems that people Face While Selling or Leasing their Properties

property for sale

The real estate market in India is one of the oldest industries and selling, buying, or leasing of properties have been going on for decades. But have you faced real estate marketing challenges before selling or leasing their house? Whether you hire an agent or not, selling a home is a tedious task.

The property selling process is a daunting task with an emotional journey, especially for the first-timers. Furthermore, its time consuming as most of your time will be spent in attending the buyers or tenants. After that, buyers will find every possible way to criticize and negotiate on the amount. With this emotional turmoil and nor prior experience, homeowners face challenges in selling a property. 

Problems while selling property
Problems while selling a property

As for those planning to lease their property, disputes with tenants can increase your stress level. Disparities between landlord and tenants mostly occur over the delay of payments, escalation of the rental amount, cleaning and maintenance of the property.

property management services in gurgaon delhi
Property Management Services in India

So to solve property leasing issues, incorporate transparency in the relation between the tenant and owner, you first need to know what problems you might face.

  1. Overpricing your estate
  2. The roof problems
  3. Selecting an incompetent agent
  4. Home violations
  5. Adding lousy images
  6. Deciding on the rental amount
  7. Selecting a credible tenant

7 Problems while selling & leasing of properties

Are you confused about what to do while selling a house? Here are some significant challenges most sellers face.

Overpricing your estate

The biggest obstacles of selling your home or leasing is overpricing intending to receive maximized profit. But the price of the house must have a strategy so it can sustain in the market. It is imperative to research the market analytics of the current homes, reevaluate the pricing and offer a standard rate in the competitive market. 

The Roof problems

Several lenders and bankers are unwilling to approve home sales having roof problems. It can lead to a decrease in home valuation while selling. So you can either opt for a home equity loan or personal loan to cover up the repairing expenses or find an investor willing to purchase the home with cash offers.

roof leakage problems in a property
Roof problems in a property

Selecting an incompetent agent

An incompetent agent devoid of market knowledge can impact price listing strategy of the house. So hire a proficient agent armed with prior expertise as their advice plays a pivotal role in determining the market value of your home based on its present condition, neighbourhood, and location. Realtor problems must be sorted before you select the best offer for your home in the market.

Home violations

If there has been a home violation on your property, it is best to mention it at an early stage to the buyers. So before entering the market, it is a top priority to get a home inspection done and select a contractor to fix the code violation issues and make your home ready for sale. A home devoid of violation and in excellent condition can escalate sales.

Adding lousy images

Nearly 44% of the home selling process is done online. So your house needs to create an eye-catching impression in the eyes of the buyers. But what most sellers fail to add are high-quality images, thus limiting their market reach. With professional photographs of your house and leveraging technology, it can make a big difference in the market.

Deciding on the rental amount

A market survey is an essential step before you decide on the rental amount. Several other factors such as the neighbourhood, proximity to transportation, and most importantly, the facilities offered by the property must be checked before you state a price. 

how much rent should i charge
Deciding, how much to charge rent?

Selecting a credible tenant

There is nothing worse than having disputes with tenants that can even drag to the court of law. So before you finalize, the tenant checks for his/her CIBIL score and enquiries about the previous landlords’ experience. 

finding credible tenants for property
Finding a credible tenant

5 Common mistakes to avoid while selling a property

Here are some of the most common property selling mistakesyou must avoid.

Failure to analyze the profit from house selling

Selling a property should be profitable either to pay off the existing loan amount or for personal benefits. But what most sellers forget is to calculate the exact cost incurred by selling a house which also includes repairing expenses suggested by the home inspection.

Incorrect pricing of home

As an owner, you have the flexibility to state any price for your house, but that might hinder the process of selling as the price may not fit the bill according to the market value. So it is necessary you understand the worth of your home, take keen insights from the current housing market, and place a price.

Skipping pre-home inspection

A deal can go topsy-turvy if a buyer brings forth a home inspector to evaluate the current situation of the house. If there are ample repairs to be done, your negotiation price can eventually go down the hill. So it is best to have your home inspection done before entering the market.

home inspections
Pre-Home Inspections

Forgetting to clean the house

It’s not just high-quality images but instead the original version of the house that will impact the buyers. So before you plan to sell the house, opt for a deep cleaning session, repair the flooring or small cracks on the wall, paint the house, and preferably make your home energy efficient.

Cleaning the property before selling

Lingering a home tour

If you are up for quick sales, don’t make the mistake of delaying the home tour as you might miss a potential buyer. But before you invite them for a visit, clean your house, the garden, and even the backyard to create a strong impression.

Conclusion

Real estate is a booming sector, and several real estate companies in India can help you provide adequate assistance to allow a seamless transition of the selling and leasing process. But before you embark on property selling or leasing look for the legalities as legal documents in real estate play a pivotal role in determining the future of your property. Though submitting your property for mandate to a professional real estate organization like MyFollo makes the path smooth and hassle free.

7 Reasons Why Delhi NCR is Suitable For Real Estate Investment

delhi ncrsuitable for real estate investment

A research study in 2019 suggested that India’s real estate investment garnered approximately $970 million. Moreover, the total investment in real estate for the year 2019 was $5 billion. This growth in sales and revenue generation is despite the current slowdown in the Indian real estate sector caused by the coronavirus pandemic. The research study also suggested that real estate investment in Delhi NCR has been the highest generator of revenue for investors in the year 2019, with approximately $610 million.

Further, Delhi’s investment accounts for 63% of the total real estate investments in India & followed by Mumbai ($410 million) and Pune ($150 million). The increasing influx of capital has caused the real estate future in India to have a positive outlook.

To ease your decision process, these are the seven out of several reasons to sell/buy a property in Delhi NCR:

  1. Industry-friendly Policies
  2. Growing Job Opportunities
  3. Advanced Infrastructure
  4. Potential Areas
  5. Appreciating Investment
  6. Highly-captivating Commercial Sector
  7. High Standard of Living

Why invest in Delhi NCR Real Estate?

Although there are tons of sources available online for research today, many investors are still confused regarding regions to invest. To ease your decision process, we have collated a list of seven reasons to sell/buy a property in Delhi NCR.

Industry-friendly Policies

Industry leaders expected the government to come up with stimulus packages for housing finance companies and incomplete constructions. The government announced a unique INR 30,000 crore package for housing finance companies to boost their liquidity and INR 10,000 crore for incomplete construction works. The Finance Minister, Nirmala Sitharaman, announced that the cabinet is working towards launching, Smart City 2.0 mission in the Union Budget 2020-21. These initiatives are going to be favourable for the realty sector and upcoming residential projects in Delhi NCR.

Growing Job Opportunities

Increase in job opportunities due to infrastructure
Increase in job opportunities due to Real Estate in Delhi NCR

Nowadays, there has been an increase in job opportunities in Delhi NCR and Gurugram. A large number of world-renowned companies are setting up offices in India’s capital. It has led to a rise in the demand for real estate in Gurugram. The job opportunities and subsequent payments are expected to rise soon & are also likely to fuel the real estate sector in Delhi NCR and Gurugram.

Advanced Infrastructure

Infrastrucuture in Delhi NCR
Real Estate in Delhi NCR

Infrastructure forms the vital support system of the real estate sector. The government has allocated funds for the completion of Jewar Airport in Delhi NCR. The massive project is expected to support multi-national corporations (MNCs). This will boost the economy. Projects like this are expected to propel the developmental activities in Delhi NCR further to accommodate the rising demand for commercial and residential real estate.

Potential Areas

Bhiwadi, Bahadurgadh, Raj Nagar Extension, Kundli (Sonipat), Faridabad, Sohna (South Gurugram), Dwarka, Yamuna Expressway, Greater Noida, and Noida Extension are some of the developing areas in Delhi NCR. In these areas, activities of setting up advanced infrastructure are running on all engines.

Investors in the real estate sector have a keen eye on these areas and potential investment opportunities to reap benefits within the next few years. Gurgaon or Gurugram has also contributed significantly to investors’ rising interest, with an influx of luxury retail brands and swanky corporate offices. Areas such as these have increased real estate investment opportunities in Delhi NCR.

Appreciating Investment

The real estate sector in India often witnesses ups and downs. Delhi NCR is one such region in the country, wherein the real estate properties are expected to appreciate over the next few years continually. This is most likely due to the ongoing efforts to set up advanced infrastructure in the region.

The rise in demand fuels the future appreciation of real estate properties in Delhi NCR is surely going to increase the value of NCR location. A rented house usually causes money to go down the drain, whereas money spent in a self-owned house becomes an asset. Also, the value of the home you bought today will appreciate significantly over the next few years.

real estate an appreciaiting asset
Appreciation in value of Real Estate Asset

Highly-captivating Commercial Sector

The most alluring feature of Delhi is its captivating commercial sector. It is expected to scale new heights over the next few years. Similar to previous years, 2019, too, witnessed growth in Delhi NCR in terms of area.

The increasing demand for Grade A offices from FMCG companies, banks, and IT companies is increasing rapidly. Retail stores have also witnessed a rise in demand over the past few years. These factors have reaped enormous benefits for property owners.

High Standard of Living

People usually move for higher education and change cities for jobs and opportunities. All this is done with the ultimate aim of achieving a better standard of living. There has been increasing real estate investments in the Delhi NCR region due to the rise in the influx of Fortune 100 companies, the development of advanced residential projects in Delhi NCR, and the advent of big supermarkets and shopping malls.

Over the past decade, people’s lifestyle in metro cities has changed drastically, owing to their increased income and the rise of luxury amenities.

Conclusion 

Delhi NCR is poised to become the most developed city in India. It provides promising amenities to its residents as well as MNCs. There has been an increased awareness regarding the understanding of rising demands in real estate properties, which has caused an increase in real estate investments in the region.

If you are in a state of dilemma regarding what to choose between commercial or real estate, you can read our previous blog. Property owners in Delhi NCR are hence, expected to witness a significant rise in their profits from real estate investments.

Properties in Delhi NCR
Real Estate Investment in Delhi NCR

The Future of the Real Estate Industry in India after Covid-19

Future of real estate after covid

The Covid-19  has infected millions of people across the globe and claimed numerous lives. On 11th March 2020, the World Health Organization (WHO), declared Covid-19 as a global health emergency. With this announcement, all businesses including real estate companies started realizing the impact of coronavirus and turned negative in their outlook.

Imports and trades worldwide have been severely hit, and a grim uncertainty lies ahead. Businesses in varied sectors have to rapidly address the changing needs of suppliers, customers, and employees. Such a step would help organizations navigate through the operational and financial obstacles posed by the coronavirus pandemic.

Indian Real Estate Sector before Covid-19

Before the Covid-19 crisis, the Indian real estate industry had strong fundamentals such as stable leverage ratios, capital available, and leasing activity. The sales of the Indian real estate market were booming, with rising industrialization and an increasing number of workers flocking to metro cities.

stats of real estate before covid
Before Covid-19 Real Estate Stats

The real estate sector in India was backed by healthy economic conditions and had a positive outlook, which led to the growth of real estate in India. The future of the real estate sector in India, at this stage, seemed promising, owing to strong fundamental and increasing demand for residential and commercial real estate.

Impact of Covid-19 on Real Estate Industry

The impact of coronavirus on real estate in India has also been unprecedented. The lockdown, which was enforced for two months, severely affected trading activities. This is expected to affect the prices of steel and other commodities required for construction activities. Even though all restrictions are lifted, difficulty in the procurement of raw materials will reduce construction activities over the next few months.

Real estate prices are expected to see a correction in future, despite a rise in construction cost and labourers’ return from their hometowns to metro-cities. This correction in real estate prices is expected, mainly due to panic selling by some real estate owners and marred buyer sentiment, in the resale market. Most of the new construction projects have been postponed until October.

corona impact on indian real estate
Short and Medium Term Impact of Coronavirus on Indian Real Estate (Source: Housing.com)

This will most probably assist in pushing the selling prices up in cities. Going forward, owners should understand the impact of Covid-19 on Indian real estate and make decisions regarding potential opportunities and available capital. Owners with long-term leases are protected from the near–term impact of coronavirus pandemic, for now, depending on the liquid capacity of tenants.

Whereas, occupiers of these real estate properties will have to deal with challenges regarding the effective operation, liquidity needs, and reduced workforce. India’s government has given tax-incentives for business owners, which can help occupiers offset the short-term impacts of the pandemic.

Present Scenario of Indian Real Estate Market

Taking this into consideration, real estate prices are expected to see a correction soon. According to the survey of 99acres.com, more than 50% of the homebuyers have deferred their purchase decisions. Nearly 3/4th of real estate brokers who participated in this survey said that due to the reduction in the buyer’s interest, the prices have gone down.

During this lockdown, many buyers & sellers will also be facing difficulty to find the best deals, but Myfollo has been doing its job greatly even during this pandemic to by providing the best deals to its clients.

But some say that the opposite has happened & the current pandemic situation has hastened the decision of the buyer who was interested in buying a home. PropTiger data shows that sales in the housing sector of nine major cities declined by almost 80% in the period between April-June 2020. A years-to-sell survey conducted by JLL reveals that the average time to clear the unsold inventory has also risen to more than 3 years due to this pandemic.

Future of Real Estate in India

India has taken specific steps to reopen the country and reinstate economic activity after four stringent lockdowns. The government has, however, given strict instructions to all citizens to follow hygiene norms and social distancing guidelines.

The construction sector in India has been permitted to carry out activities with the norms laid down for sanitization and safety. Construction workers are being educated regarding these norms and guidelines to follow while working on construction sites.

construction activities
Impact on Construction Activities

India’s government has almost done away with the boundary of Red, Orange, and Green zones. Areas in India are now being recognized as on-containment and containment zones. Containment zones are often subjected to stricter lockdown regulations to curb the spread of the virus.

Barring a few containment zones & construction works has resumed in numerous parts of the country. The government of India has also given relaxations to all sectors, including real estate, to revive the economy and prevent it from going into depression. Owners, occupiers, and construction workers have to follow the guideline laid down by the government strictly if we are to see a definite growth pattern in the real estate industry over the next few months.

The real estate in India after the coronavirus pandemic is poised to see a slow recovery. And real estate prices are eventually expected to go up since real estate has and always will be an appreciating asset with HNIs and family offices also preferring real estate over other investment opportunities.

Conclusion

There has been a significant decrease in buyer interest and property visits, due to the ever-increasing threat of the coronavirus. The impact of coronavirus is being realized on increasing scales every day. With such a scenario, the real estate industry has to prepare itself for another potential downfall in the economy.

potential decrease in buyer interest and real estate growth
Potential decrease in buyer interest and real estate growth

Making preparations now will go a long way in ensuring healthy business activity later on. And as well all know, situations usually get much worse before they get any better.

The world has witnessed such outbreaks of viruses in the past, such as Ebola virus, Zika virus, and Sars virus, among others. And the world has successfully recovered from the grips of these deathly viruses. Every downfall allows business owners, to restructure and scale new heights in the future. The Indian real estate should also find areas to restructure and renovate their businesses today, to thrive in the booming economy tomorrow.

Why High Net Worth Individuals (HNIs) and Family Offices should invest in Indian real estate market?

featured image for hni real estate investment

An investment decision backed by educated insights often helps us to achieve our aspirations. A majority of the investors in the market have a portfolio with diversified assets such as government schemes, bonds, gold, and stocks. However, the extremely underrated and neglected investment asset, in today’s times, remains the real estate.

Owing to increased economic growth, the average income of citizens residing in cities has increased drastically. This has given a boost to the demand for real estate, and this demand is expected to grow significantly soon. Such a scenario has allowed investors to invest in real estate today, to reap benefits tomorrow. However, many investors are still unknown to the workings of real estate and its benefits as an investment vehicle.

HNI and family office investment in real estate
HNIs and Family Office Investment in Real Estate Sector

Real estate investment in India is often considered to be a scarce resource and is a hard asset. Investment in commercial property in such a scenario can be extremely good for the long-term. Investment in commercial property has an intrinsic value associated with it, which appreciates over a certain period.

Unlike publicly-traded securities and the involved volatility of public investments, direct investment in real estate can provide steady cash flow in the form of rental income. Having real estate in one’s investment portfolio can have advantages such as portfolio diversification, long-term appreciation, and net cash flow. We at MyFollo have amazing offers for HNI investment options in India.

Pros of investing in the Real Estate

We all are aware of the possible financial benefits we might receive from investing in real estate. There are many benefits to investing in real estate that outweigh the risks, and you, as an investor, will gain a steady flow of income to ensure long haul financial independence. If you back your investments with well thought out real estate investment strategies, the benefits of it will help you reap attractive returns. Here are some of the pros of investing in the real estate sector:

  •    Steady Income

A steady income is one of the most prominent benefits of investing in the real estate sector. Depending on the location of your real estate investment, you can earn significant returns over a specific period.

benefits of investment in real estate
Benefits of Real Estate Investment
  •    Long-term Financial Security

When you invest in real estate, you ensure a steady flow of cash for a long duration. This investment thus enables you to gain financial rewards for a long time. The main aim of investing is to be financially able and have long-term financial security. An investment in real estate helps you achieve just that.

  •    Tax Benefits

Tax benefits are one of the most alluring advantages of investing in real estate. For example, the self-employment tax in India is not levied on rental income. Moreover, the government offers relaxation for property taxes, legal fees, travel expenses, maintenance repairs, insurance, and property depreciation. And the icing on the cake is that investors are subjected to lower tax rates for long-term investment in real estate.

tax benefits by investing in real estate
Tax Benefits from investment in the realty sector
  •    High Appreciation

 Investing in real estate is not for the short term since the benefits of this investment are often realized in the long-term. Real estate investment usually appreciates over time, thus increasing its resale value. In other words, the value of the property that you have invested in today will increase multiple folds by the next 10 years.

benefits of real estate investment
Appreciation of property value

Why should HNI invest in real estate?

High net-worth individuals (HNIs) should consider investing more in real estate as compared to other asset classes. Different asset classes such as equity are more prone to volatility, and hence many times fail to give attractive returns.

Hni investment in real estate
HNI investment in Real Estate

The high appreciation of their investment often guides HNI investment in real estate in abundance as compared to that of a small investor, and can keep a portion of their funds locked in an investment for a longer duration, they should invest in real estate. HNIs should formulate strong real estate investment strategies and aim to achieve attractive returns shortly.

HNI investment options in India are attractive, such as residential and commercial properties, which have the potential to generate attractive returns. For HNI’s, investment in real estate would yield more stable returns and would help them increase their investment value multiple folds over time.

Global stats as compared to india of hni investment in real estate
Global Exposure vs HNI Investment in Real Estate

Why should family offices invest in real estate?

A family office is a privately owned business that manages financial services and asset management for an affluent family, intending to build and distribute wealth successfully through generations.

Many are often confused as to how do family offices invest. The sole purpose of a family office is to manage investments to sustain long-term prosperity and wealth. Investment by family offices can be either in variable income-generating assets or real estate.

family offices investment in real estate
Family Office investment in real estate

In the current times of extreme market volatility, real estate investment for family offices has proven to be a boon. Family offices should increase their investments in stable assets such as real estate, to ensure sustained growth over the long-term. Given the comparatively low association with the capital markets, investment in real estate for family offices is ideally. Suitable for diversifying their equity, debt, and other alternatives portfolios.

Wealthy families often have an objective to preserve value rather than to aim for appealing returns. Hence, family offices have a crucial goal to safeguard a sound legacy for their client’s future generations. Real estate investment, in such a scenario, helps family offices achieve the desired preservation of value.

Both HNIs and family offices have a common desire to separate certain assets from their main business line and safeguard them to build a long-term value-appreciating asset. Real estate investment, in this case, is the right path to venture on, for both HNIs and family offices, to create sustained growth.

HNIs and family offices need to formulate strong operations and strategies for indirect or direct investment in real estate. Formulating a definite plan is extremely important since it will take numerous aspects under consideration, such as diversification, returns, risk, and control.

Investors should be careful while opting for indirect real estate investment, as it gives limited flexibility, in the event of changes investor preferences or fund strategies. Direct investment in real investment offers better control, and investors can decide for themselves. In any case, conducting thorough research is a must and can help in generating sustained returns over time.

How income-generating commercial real estate is an investment asset class?

commercial real estate

The commercial real estate market in India is an umbrella term for real property, which is utilized to generate profits for the owner. Commercial real estate examples include warehouse, apartment buildings, malls, hotels, medical centres, industrial property, and office building. Unlike residential real estate employed for personal use by the owner, commercial real estate is employed to generate cash flow. Commercial real estate investment in India has historically awarded thousands of investors for reaping attractive returns, as an alternative asset. However, many investments are still unknown to the workings of commercial real estate and its benefits as an investment vehicle.

commercial property illustration
Commercial Properties

The commercial real investment market in India, as an alternative asset class, also gives an investor the ability to diversify his or her portfolio. A smart and educated investment in the commercial real estate can provide a path for an investor to diversify their portfolio by including, broader and local economies. This is possible in the case of commercial real estate investment in India since a specific commercial real estate asset’s success is related to local market dynamics.

Some of the upcoming markets for considering commercial estate as an investment asset, are Delhi NCR, Mumbai, and Bengaluru. Commercial real estate investment Delhi NCR is gaining prominence and is expected to yield attractive risk-adjusted returns for investors over the next few years. Commercial real estate investment Delhi NCR, Mumbai, and Bengaluru are expected to rise over the next decade. Small investors are gradually becoming aware of the benefits of investing in commercial property and are considering commercial estate as an investment asset. A steady approach with a thorough study of the market can assist in reaping attractive returns in the near future.

Return on investment in commercial real estate
Increasing returns on investment in commercial real estate

Factors to consider while considering  real estate as an investment

There are numerous factors that need to be studied while considering real estate as an investment. Some of these factors are as follows:

●      The location of the property and its survey

When it comes to commercial real estate investment in India, it is all about the place. Several considerations come into play when it comes to the purchasing of commercial lands, such as infrastructure projects currently under construction in the region, distance to neighbouring towns, public transport, and road accessibility.

●      Evaluating the financial condition of the tenants

 There are a variety of considerations one should pay attention to when investing in a building with existing tenants. The tenant’s revenues on a weekly, monthly, or annual basis can prove as a key parameter, as they provide a more reliable reflection of the investment’s profitability.

●      Documentation

 An overall document review is essential because it will assist in getting a better understanding of the legal work the investor should take care of. This includes papers (in the case of resale property) related to the transfer of ownership and mortgage.

●      Market Dynamics

 Studying the dynamics of the property form that one is choosing is essential. When looking at investing in retail, consideration should be given to the short-term and long-term effects of customer demand and e-commerce on a tenant. Looking at workplaces, one should understand how developments such as telecommuting and co-working might have an effect on office space demand. The investment in commercial real estate property should be ideally carried out in an environment of low interest rates since this would support the demand for both borrowing and property.

commercial office space transactions in India
Commercial office space transactions in India in 1st half of 2019
investment in real estate sector in India stats
Real Estate Sector expected growth in India

Pros of commercial real estate investment in India

  • Potential of generating high income
  •  Higher equity potential – increase in cash flow via leveraging
  • A high number of tenants – low risk
  • Advantage of security
  • High appreciation value

Why commercial real estate investment is better than the residential real estate investment?

The value of an investment in commercial property is easy to increase.

The market value of a residential property is measured by means of the average cost of similar properties in the vicinity. This study can be based on primary characteristics such as the number of bathrooms, bedrooms, and so on and so forth. So, to sum it up, a two-bathroom and two-bedroom house with state of the art appliances, has the same value as that of a two-bathroom and two-bedroom property with basic amenities, in the same block.

A more precise approach is used to value commercial real estate. The local factor surely takes into consideration. However, the revenue generated by the property forms the basis of its market value. So, an inexpensive strategic improvement of the property, which can assist in increasing the revenue generated by the property, can have a massive impact on the resale value of the property.

  • Commercial properties often come with longer lease terms
    As compared to residential leases, commercial leases are much longer. Commercial real estate lease is usually for a minimum of three years, and leases for 5 to 10 years are not unheard of. Whereas the residential leased are typically for 12 months or one year. Some of the benefits of having a long lease include:

     

    • Lower turnover costs
    • Lower vacancy rates
    • High assurance of receiving a reliable cash flow

However, there can be a downside to long-term leases, if in case a property owner is not pleased with a tenant. The owner, in this case, can ask the tenant to leave by choosing not to renew a short-term lease.

commercial vs residential real estate
Commercial Real Estate vs Residential Real Estate

Unlike publicly-traded securities and the involved volatility of public investments, direct investment in commercial real estate can provide steady cash flow in the form of rental income. Having real estate in one’s investment portfolio can have advantages such as portfolio diversification, long-term appreciation, and net cash flow.

Commercial real estate is often considered to be a scarce resource and is a hard asset. It has an intrinsic value associated with it, which appreciates over a specific span of time. The cost associated with commercial real estate has caused it to be limited to institutional investors. However, with the advent of the technology age of the 21st century, there are numerous platforms that have made this investment easier for small investors as well. It is, however, advised to read the policy document carefully before making a decision to invest, so as to understand the benefits of your investment thoroughly.

How NRI can manage their property back in India?

So, you are an NRI or have an NRI in your family and having a property in India or planning to buy one. Are you worried how will you be able to manage this long-distance relationship with your property? Who will take manage of your property while you are busy with your work in a foreign land?

All these queries are genuine, to manage a property while living abroad is not an easy task. NRIs often face this problem which leads to undue stress. The solution this is, hire a property management company back in India such as Propcare which is a division of MyFollo, real estate company based in Gurgaon which will take care of all your needs regarding your property.

What is Property Management?

According to Wikipedia, Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate.

Today, there are specialized agencies, which can not only take care of your property but also offer several value-added services like looking for tenants to generate passive income in the form of rent for you. These organizations are known as Property Management Companies.

Benefits of NRI Property Management Services

Owning a property in India, when you are living abroad can be a real challenge. With so many hassles like illegal encroachments, keeping the property clean, paying the taxes on time and maintaining the property is not as easy as it seems. In this case, you plan to rent the property then, finding a credible tenant, verifying the tenant, collecting the rent regularly and keeping a check on the property can be really tricky.

Well, that’s precisely why you need property management services. Once you have identified a good company, you just need to hand over the keys to them and they will take over all house management tasks on your behalf and execute it for you.

While services offered may vary from company to company, most companies offer these basic services:

Regular Check-up of the Property

If your property is lying vacant, the company will do a regular visit to ensure that the property is in fine shape and there is nothing untoward happening in and around your property. And if your property is under rent, the companies ensure that the tenant is following the terms of the rent agreement.

property inspections
Property Checks

Finding Verified Tenants

If you want to rent out your property, they can help you find good tenants. And that too, after proper verification so that there are no troubles later. The agencies do proper police verification to ensure that prospective tenants have a clean record.

tenancy management in india
Choosing Credible Tenants

Timely Collection of Rent

We are sure you don’t like calling your tenants every month to remind them to pay rent. When you avail of Property Management Services, you can just sit back, relax, and watch the amount deposited every month. It also includes ensuring that the tenant is paying the electricity, water bills on time.

Interiors, Repairs, & Maintenance

Planning to lease out your property to some organisation and worried about how to get the interiors done with good quality at best prices. Or worried about who will take care of the repair and maintenance later. Well, a professional property management company, will get all these things done in quick time and at only the genuine cost.

Utility Bill Payments and Coordination with Agencies

When you have leased out the property, the company ensures that the utility bill payments are made on time. Also, the company coordinates all your liabilities like the property tax, khata etc.

Need for Property Management Company for an NRI

Still thinking, if you need to hire a Property Management Company to manage your property? Well, here is a check-list to know whether you should consider hiring a property management company:

Located far away from your property

Being an NRI, means you are far away from your property to be able to manage it on your own. You may have some friend or relative or some liaison to manage it, but they also have their own things to manage. So, your property suffers. Now, it’s time to take matters into your own hands and hire a property management company!

Lack of time to have a check on your property

With today’s demanding job, family, kids, you may not get sufficient time to check on your property. Same may be the case with your mediator. You may have to remind them again and again to check the property.

But, a property management company does not need any reminder to do these jobs. For any professional company, it’s a part of their duty to do an inspection, prepare reports and keep you posted.

Owning multiple properties

As if one property was not a sufficient headache, multiple properties mean a huge headache. No doubt, you get a high rental income, but at the cost of peace of mind. But, for a professional property management company, it’s their daily routine. They have a team of experts who handle each of your properties and give you report property wise.

Help with renting your property

So, you want to rent out your property. But where and how will you advertise your property? How will you show your property to your tenants? On what criteria you will decide the right rent for your property? How will you get the police verification done of tenants? Well, if you are also worried about these issues, you definitely need to hire a property management company, who will do all this for you, on your behalf.

house renting illustration
Renting house for passive income

Management of tenants

Do you want someone to ensure that the rent is collected on time? or want to ensure that the tenant is abiding by the agreement? Do you want someone to take care of regular maintenance and repairs? Do you want to ensure the house vacates, when you want it, without any problem? If your answer to any of these questions is Yes, then you do need to hire a company giving Propcare Services.

Not up to date with the current laws

In this ever-changing world, laws, regulations are also bound to change. And it may not be easy for you to be updated with everything. We are sure; you don’t want to be on the wrong side of the legal system. So, hiring a property management company helps you to handle all your tax and other legal issues related to the property smoothly.

Need of a reliable partner to maximize your return

Property rentals, or selling rates, differ from city to city, locality to locality and even location to location. So, if you charge less, you may lose out on a good profit, while charging high may drive away potential tenants or buyers. Property Management Companies survey your property, the surroundings, and the average rent/sale price for the area and counsel you so that you can maximize your return from the property.

maximize return in real estate
Maximize ROI by Rental Income

Value-added Services

Some companies also provide value-added services like doing interior work.

How to Choose the Right Property Management Company?

So, you agree you want to hire a property management company. Now comes another issue, how to select the right property management company. As your property is very dear to you, make sure you put it in the right hands.

Introducing Propcare

A leading NRI Property Management Company in India. Propcare is a one-stop outsource powerhouse for all areas as it relates to efficient online interior service. Propcare not only provides Property Management Services for NRIs but also offers value-added services like Interiors Services for Rentals.

Main services offered by Propcare:

  • Marketing and Lettings (the action of renting out a property)
  • Rent collection & Deposit
  • Possession Assistance
  • Keys Management
  • Property Maintenance
  • Tenancy Management
  • Interiors for Rentals

We at Propcare assist you in designing and installing wardrobes, Wooden Cabinets, Vanities, Modular Kitchen, Sanitary Fitting, Electrical Fittings, False Ceiling.

Why choose PropCare for interior services?

  • Easy payment plan
  • Best quality with competitive pricing
  • Timely updating with progress pictures regularly
  • Regular Operations manager visits to the site
  • Showcasing apartment for rentals
  • Project facility coordination
  • Safety at all times