We often talk about how it makes sense to own a house for financial reasons. Often emotional reasons drive the nature of the process to buy a home. This is one reason why property management services in Chennai becomes important.
We, Indians generally buy a home more from an emotional security point of view. For us, it’s not just a home- but it is a part of a legacy, a heritage, and a history. At Prosperty, we value customer satisfaction. We provide a complete solution kit concerning property management. We always strive to make this management hassle-free for our deemed customers.
Life may take you miles away, but a part of your heart will always remain at your property. Isn’t it? We ensure to treat this very sentiment respectfully in such a way, that we will make your life easier. We have a dedicated division that offers NRI property management services. This will give you a wholesome property package at your doorstep
Property Management in Chennai – Our 15 Step Proces
1. Need Analysis – First Step To Property Management Services In Chennai
The very first thing we do is thoroughly understand the expectations of the client. Property management in Chennai services commences with this important step.
We then conduct an in-depth property assessment and chart a diligent roadmap for managing the property. Then we clarify any further doubts that may arise on the road map ahead.
2. Property Preparation
At Prosperty property management Chennai, our team undertakes thorough inspections of your property. Eventually, data is gathered and then it is put into account. Full proof document auditing, including the title status of the respective land or apartment, is done.
Our property experts suggest repairs and ideal improvements before renting out the property. It’s important to ensure that the property is a great living place for any tenant and fetch market rentals.
3. Pricing Strategy For Tenancy – A Crucial Step in Property Management Services
This is one of the most important steps and having support for property management in Chennai makes things easier. Herein, the current optimal rental value of the property is discussed with the owner.
We consider various factors like location specifics, prevailing market conditions, current market pricing and property-specific pricing. These practices make Prosperty Real Estate the go-to for NRI property Management Services Chennai
4. Marketing Strategy – Listing Your Home For Rentals
There’s one famous quote, “You can’t sell anything if you can’t tell anything”. This is exactly one of the primary characteristics of Prosperty property management in Chennai. We list your property through the most optimal marketing mediums.
a. Conduct listings for optimal results
Our team of consultants prepare attractive advertisements and even conduct listings at various portals. Whether it is about gaining mass attention or tapping into a target pool of niche audiences, we can do this seamlessly.
b. Showcasing your property to prospective tenants
Tieing up with house brokers speeds up the entire process and makes it convenient. This ensures that the entire marketing process runs without any delays. Being a professional, their reach and art of doing things are unmatchable. So, apart from the Prosperty real estate team, a selected pool of house brokers in Chennai will work on marketing your property. As mentioned earlier, we are absolutely unbiased. So we work with any real estate agent who passes our quality benchmarks. We have a well-established network of house brokers, and that makes us one of the best NRI property management companies in Chennai.
5. Receive Offers And Evaluate Them For Tenancy
After all the marketing strategies are done, now you are bound to receive offers from prospective tenants. Our team evaluates every single offer, qualifies every single prospective tenancy enquiry and shortlist prospective tenants. NRI property management also includes conducting various referral checks on prospective tenants. Tenant evaluation is one of the most vital elements in property management in Chennai.
6 (i). Final Negotiations
After a thorough evaluation of the offers, you then need to decide your next step. Our team meets up with the final shortlisted tenants’ person to person. Having a meaningful discussion with the tenant family helps us to understand the family and their expectations. Prosperty property management Chennai team takes care of this aspect.
a. Negotiate counter offers
There may be instances wherein, as an owner, you feel like your expected rental hasn’t met and so on. This is where your counteroffer strategies are important, and you can rely on us for that. We have been in property management in Chennai for the past 10 years.
b. Advise on final terms
After the settlement on a rental amount, you are halfway through the process here. Conditions and briefing the tenant on expectations from the owner is also a part of the NRI property management Chennai. This is where the final terms are settled upon and time to move to the next stage.
6 (ii). Tenant Verification and Final Shortlisting
No deal is complete without the phase of tenant verification. Yes, you heard that right! This is why this phase is extremely important for NRI property management services in Chennai. Moreover, this is one of the most important qualities of a good property management agency in Chennai.
We at Prosperty Property Management Solutions perform background checks on every client regarding their actual location and overall finance history. This helps in finalizing the ideal tenant and thereby execute the tenant verification checks.
7. Execution of Rental Contract
The necessary documentation work done during the execution of the rental contract is the first step here. There is a high possibility of missing out on such crucial details when you’re on your own.
We also collect and deposit the “Security Deposit Cheque” into the owner’s account in this phase. Especially when a client is overseas, the NRI property management Chennai can prove extremely helpful.
8. Rent Collection and Deposition
At this stage, we collect and deposit rental cheques or follow up on monthly rentals. Along with this, the scanned bank deposit slip is also provided by the respective tenant. We at Prosperty Property Management follow the below-appended action plan on tenancy management.
- Follows up on rentals
- Hunts down late payments
- Sends out pay or quit notice ( in case a situation arises), and
- Enforce late fee
9. Periodic Property Inspections for Property Management Services in Chennai
At Prosperty, what sets us apart from the rest is to go one step ahead of the rest. Yes, that’s true! After the contract is enforced, our job does not simply end there. We also provide the owner with half-yearly property inspection reports and photographs.
Constant follow-ups and staying updated is also why we are one of the best Property management services in Chennai.
10. Repair And Maintenance – Key Feature Of Property Management Services In Chennai
This stage of property management is all about providing 24-hour maintenance support so that the tenant has a delightful experience.
Assisting the tenant with major repair or maintenance work on behalf of the owner is one of the value-added features that we provide. We also have tie-ups with various other professionals which gives it an expert touch. Hence, whichever part of the world you are in, be rest assured that you will never receive a call from your tenant on a maintenance issue. Whatever issue the tenant has our team will assist them with it.
11. Inventory Audits for Property Management Services in Chennai
At Prosperty, we deal with tenant move-out and related formalities. We also assist with post-closing issues and conduct inventory audits in this phase of the property management services in Chennai. A report is prepared on the property’s condition when the client moves out.
Thus, Prosperty guides you till the end, and hence we are known for providing top-notch quality to our customers.
12. Securing the Property
Many people aren’t aware of securing their respective property, and this is where our expertise consultancy role comes in. We procure the Encumbrance Certificate from relevant authorities every year. We take these steps to ensure ownership protection.
Thus, once you hire the services of Prosperty Property Management Services, you can sit back and worry about nothing.
13. Appraisal And Valuation Services For Property Management Services In Chennai
A third party agency carries out an objective estimate of the value of your property. These services can come extremely handy when you apply for bank loans, try to leverage your property or when you consider selling your property.
14. Property Tax And Utility Bills Payment
Taking care of yearly property tax and respective utility bills is a headache. Because of our seamless management agency, this headache is ours and not yours.
You can stay carefree about coordinating these different payments and simply rely on our premium and best property management services in Chennai.
15. Legal Services As And When Required
We at Prosperty, provide complete legal support, and also help the owner concerning representation in the court. We coordinate with law enforcement and recommend the best possible legal advice in all circumstances.
Therefore Prosperty is a one-stop solution for all property management services in Chennai.
At the end of this 15 step guide, you will now know how your property requires sincere attention and care. And these aspects are truly the backbone at Prosperty. Go ahead and simply trust our 15-year long legacy and be a part of our beautiful family.
