PROPERTY MANAGEMENT SERVICES - FREQUENTLY ASKED QUESTIONS

We are experts in our field, and thus offer the following advantages:   Having managed various kinds of almost a thousand properties, tenants and situations, we have the experience & knowledge to ensure that our goals are met, i.e., the rental  income is maximized and your headaches minimized.   We have a large network of local agent experts, legal consultants, cost-effective vendors, to ensure that your property gets the best treatment and is safe.   We have an enviable portfolio of blue-chip tenants and more.  We have devised a model that gives you a hands-off experience, but yet lets you control who your tenant is, and even every single minor expense.  Transparency is at the heart of our organizational culture. We share good and bad news with equal forthrightness.  Our fees are performance-based. We have 0 signup fees and no upfront annual fees. You pay monthly as you go. We get our fees only as long as you get your rents. 

Our monthly management fees include the following services:  Tenant Replacement – Under our standard plan, we do not charge any separate fee for replacing a tenant, and all marketing and tenant acquisition costs are covered in your monthly costs. This is regardless of how often your tenants change, so the risk is ours, and we are incentivized to get you long stay tenants, who are verified by us.  Tenant Renewals - Every 11 months, the Leave and License agreement with the tenant is renewed at the agreed upon escalation, and fresh post dated cheques collected for the new period. We start the renewal process 2 months before expiry. Exit Checks, Settlement - When a tenant vacates, we do a thorough exit check and calculate the costs of damages. We then do a final settlement with the tenant after deducting any unpaid bills, unpaid rent, and costs of repairs. We then restart our marketing process and work on Tenant Replacement (and the process repeats)  6 month inspections - We inspect all properties at least every 6 months to ensure it is well maintained.  Pics on demand - Although we send pics to the owner during our regular inspections, the owner can also request for ad-hoc pics.  Rent collection & follow up - We collect Post dated cheques for all 11 months of the rental agreement period, and in the event there is any issues with the cheque clearing, our team will follow up until resolved.  Detailed Accounts Statements - Every month a detailed statement is sent to the owner, which includes all details of rent collection, payment, charges and/or any other approved deductions.  On time rents - We ensure you get your rent on time.  Repair requests/complaints by tenants - We are the point of contact for the tenant, so they don't bother you. Any repair request from them is handled/negotiated by us. No repairs are done at your cost without your approval. Costs of minor repairs are borne by tenants. (NOTE: In case any major work is required at the premises to be done by our outsourced vendors, we charge a separate coordination fee)  Repair and ad-hoc requests from owners - We are your point of contact, for any ad-hoc requests you might have.  Association complaints - In the event you receive any complaints from the Association about the tenants, our team will handle and resolve the same.  Maintenance works - All minor works are paid for by tenant, except in the first 20 days after move in. For any major repairs, such as seepage issues, etc, our team can source vendors and coordinate the same for you.  TDS certificates/Form 16s - In the event the tenant is a company, and there is a TDS deduction, our team will follow up and source the TDS certificates every quarter for your income tax filing.  Rent receipts to tenants - Any rent receipts requested by tenants are provided by us.  Tenant Relationship management - We also strive to maintain a cordial relationship with all our tenants, so we can ensure that your property is secured and well-maintained. 

We market to tenants through various methods, primarily the following:   Our direct traffic and customer network  Premium Online classifieds whom we have strong partnerships with   Through expert local agents who are strong in their respective areas Social Media channels such as Facebook, YoutUbe, Tiktok   Through realtor associations like BRAI, NAR India, etc.  Our bluechip tenants and customers.  Security guards and Maintenance managers network at complexes and communities.   Through traditional media – distributing fliers at local shops, etc (as required)  Banners on independent houses   Customized advertising 

Yes, we have very cost-effective vendors who can do the complete semi-furnishing for wardrobes, kitchen and electrical fittings for your  complete property. 

Yes, we have excellent small cost-effective vendors we work with, and have an in-house team that manages these vendors.  

The tenant pays for all minor works, after a fully functional fresh property is handed to them. If there are any minor issues in the first month of their moving in, the cost of repairs is on the owner. However, after that, all minor works are to be addressed by the tenant, and only major works are to be paid for by the owner, such as Seepage issues. It is our responsibility to inform the tenants about their obligation to pay for minor issues.

We don’t charge them any commission. We ONLY charge a minor Movein and Coordination Fee of 1000 plus GST when the tenant is moving in, this is to cover our cost of doing the Tenant Orientation and agreement formalities.  

Yes you can. However, we recommend against it. We also have a preference criteria within our company that prefers professional families to bachelors and business owners, and it’s best to leave it to that to maximize your return. With us in the loop you don’t have to worry too much about bachelors not maintaining your property well. We place only well placed professional bachelors. Our inspections will reveal any issue with the way they maintain the premise.  

It is a standard “leave and license agreement” for an 11 month duration that gives the tenants minimal legal rights, as advised by our legal team. 

Yes we offer: 

(a) Group discounts on the monthly management fees if multiple properties within the same community sign up at the same time. 

(b) Multi-Property discount if you sign up multiple properties of your own, and this depends on the property locations and number of units.  Please get in touch with our team for further details. 

This gives us control so we can take an action in case of any unpaid rent. If a cheque to you bounces, we have no control over the bank accounts and cannot even collect the bounced cheque. Moreover this way we don’t need to bother you about payment receipts, etc. We know when the rent is received and credited to you, as it all happens through our bank accounts. This is the only way we operate now.  

Are your management fees on the entire rent and maintenance amount or only on the base rent? 

We give the tenant their deposit back only after doing a thorough due diligence of the property, and after they hand over the property to us,  after subtracting the costs for damages and dues. We ask the owner to deposit the funds to us before the exit date, to avoid any delays on that end.  

Yes, we can do this. We will take handover from them and collect keys on the last day they are leaving – we will do an inventory check of the property on their exit and report the state of the property back to you.  

This is a caution deposit that we keep and give back to the tenants when they leave. We use this to manage any damages/arrears that  need to be taken care of by the tenant to ensure the property is well maintained. You only have to hand over the 90% that was transferred over to you, when the tenants leave.  

This is because our accounting process runs as follows: Rent collection for the month of June (for example), runs from 5 th June to 5 th July (several tenants also pay in arrears), and our rent payment cycle for the same period runs from 5 th July to 10th July. That is how we are  able to streamline our accounting process, and you get your rents on time even if there is a delay/bounce from the tenant.  

Yes, our referral fees are published online:  https://www.rentoproperties.in/referral-1 

Yes we do. We have certain standard fittings and fixtures that need to be included when you hand over the property to us. We can share this with you on request. It is up to you to either give us the property in this condition, or we can execute the work ourselves as well.

We start marketing the property to potential tenants only after it meets our acceptable standards.  

We don’t charge them any commission. We ONLY charge a minor Movein and Coordination Fee of 1000 plus GST when the tenant is moving in, this is to cover our cost of doing the Tenant Orientation and agreement formalities.  

Just like low cost airlines, we like to distinguish between the absolute basic services you need and any optional services you may require. Your property may not require any work at all, in which case you should not be paying that extra amount. In the event it does, we act on your behalf to ensure the vendors do a good job, and send you pics and then pay any final amounts to the vendors. We believe in  complete transparency, so we like you to know exactly how your money is being spent. We give you bills directly from the vendors and charge you NO overhead (unlike other firms). In fact, you can even speak/negotiate with the vendors directly if you like. But there is a lot of work involved in dealing with the vendors including scheduling, negotiating, checking their work quality, ensuring they finish on time, etc, and all of that requires time and effort of our staff. We charge this fee to cover our costs. This is NOT a revenue stream for us.  

Yes, there is a nominal cancellation fee applicable if you cancel before we place the first tenant to cover our overheads of marketing, inventory etc, as there is no sign up fee.  

No, there is no lock-in if the property is vacant. However, there is a lock-in of 11 months only after the FIRST tenant is placed. After this  duration is over, if there is a tenant, there is a 65 days notice, as we need to give the tenant a 2 month notice (mutual with the tenant)