In-depth Guide to Effectively Manage an Investment Property

The next step after buying a real estate property for income is to decide who will conduct the property management. As the owner, you must deal with legal formalities, regular maintenance, repairs, accounts management, etc. Despite being a source of passive income, it takes a lot of effort and time. 

 

There are two ways to manage rental properties:

 

• DIY (do it yourself)- the landlord handles all property management issues 
• Outsource- the owner hires a property management company

 

Read on to explore the ins and outs of investment property management. This is a concise guide for landlords who want to go the DIY route to manage their real estate assets.  

 

Investment Property Management- Roles & Responsibilities of the Owner 

 

The roles and responsibilities in investment property management can be grouped into 3 main categories. Herein is a synopsis of different types of rental property management:

 

tenancy management in Bangalore

Property Management

 

Efficient property management proves a prime factor in bringing in prospective tenants and profitable income. Your job starts from day one, encompassing the following aspects:

 

• Convert the simple residential/commercial property into a usable environment for the occupants
• Strengthen security in and around the house or otherwise for optimal protection 
• Periodical monitoring and cleaning of the premises 
• Conduct regular maintenance and repairs (when needed)

 

Tenant Management

 

This is the most arduous task in the entire process involving legal procedures, managing tenancy disputes, dealing with non-paying renters, and more. Starting from scratch, you will be performing the following tasks:

 

• Marketing the rental property
• Set prices
• Prepare the vacant flat/apartment before move-in
• Offer rental property tours to visitors
• Prepare the lease agreement 
• Handle tenant complaints
• Collect rent

 

If this seems too overwhelming, you can hire experienced professionals for tenancy management in Bangalore. 

 

Accounts and Finance Management 

 

A rental property owner has to maintain all financial records to avoid problems with taxes and legal matters. It is necessary to keep a record of earnings (security deposit, rent, other charges), expenses (repairs, maintenance, utilities, property taxes, landlord insurance, etc.), and other details in the financial statements. You need efficient rental accounting software to maintain all financial records of your income property. 

 

Tips to Manage Your Investment Property 

 

If you want to manage your rental property yourself, herein is a short guide to getting started: 

 

1. Set Reasonable Rent Price 

 

While fixing the rent amount, quote a rate per se for the prices in the regional rental market. With a low rent price, you will suffer losses covering the associated costs. Look into the following aspects when setting the rent price:

 

• The average rent of similar properties in your area
• Renter demographics
• Average per capita and household income in your region
• Your expenses on property amenities, maintenance, etc.  

 

2. Advertise Your Vacant Property 

 

DIY landlords mostly place ads with popular online rental listings and local newspapers. Some property websites also offer tenant screening services. Post a video of the rental property to boost views.  

 

3. Schedule Regular Maintenance 

 

If you are a DIY landlord, these repair and maintenance best practices can lower the costs:

 

• Do an inspection every 6 months on occupied properties. 
• Perform an inspection inside and outside the house so that you do not miss anything. It helps to detect damages early. 
• Respond to maintenance requests from tenants as early as possible. Delaying the maintenance/repair process will only complicate the project and raise your expenses.  
• Hire licensed contractors with a decent track record

 

4. Collect the Full Rent on Time 

 

To make a profitable regular income, you must collect the monthly rental on time. Late payments may interfere with your financial goals. Many tenants set up automated online payments to avoid unnecessary delays. For safety, include a clause for late payment fees in the lease.

 

5. Follow the Legal Regulations for Hassle-Free Tenant Eviction 

 

If the occupant does not pay the rent, you may file an eviction lawsuit. The expenses may vary depending on the lawyer’s fees and other costs. But it is always mandatory to follow the appropriate law and order during the process. 

 

Please read our article on tenant eviction rules in India.

 

6. Store all Vital Documents and Accounting Details 

 

You will need the legal documents and account information in the future for filing tax returns, paying property taxes, etc. Using rental property software offers storage for all such details securely, and generate financial reports, tax reports, and more. 

 

Do you need help with rental property management?

 

Contact SANGAU, a reliable firm for rental property management in Bangalore. We offer tenancy management services, NRI property management, and more.  

In-depth Guide to Find Home for Rent in Bangalore on a Budget

Renting an apartment in Silicon Valley is not a tough chore. From luxurious furnished flats to small homes with basic amenities, there are umpteen choices to find an ideal residence in the IT hub.

However, the demand for rented homes is skyrocketing in the post-pandemic era, especially among people relocating to the city for academic and career prospects.

It is just a matter of choosing the best option that meets your requirements, budget, and amenities in the preferred location. Dive in to find out more on how to find an affordable house for rent in Bangalore here.

house for rent in Bangalore

How to Find Rental Properties in Bangalore

Nowadays, you don’t have to rely on acquaintances to find an apartment for rent. There are several resources to find properties and contact landlords: 

Brokers/Agents

There are a few reliable property brokers and agents in the city. Working with a broker can be risky unless you know the person well. You may end up losing a hefty amount in brokerage fees. Please check if the Broker/Agent is RERA registered.

Finding an agent through a friend can be helpful. You may find multiple options and honest advice from the person. There are extra costs involved in the process- brokerage fees, property viewing costs, etc.

Newspaper Classifieds

You may get a few options in the property ads section. Finding an option in your preferred location is a matter of chance. The space is limited, so you won’t get much info before contacting the landlord. 

Facebook Groups

It takes a few seconds to come by a group for rental property on Facebook as long as you know the appropriate search terms- ‘rent flats without brokers in Bangalore’, ‘house for rent in Bangalore’, etc.

With various issues emerging in the limelight, the trustworthiness of social media sources is a matter of consideration. Relying on an unknown person can put tenants in jeopardy.

Property Websites

Today landlords prefer advertising their homes/flats for rent in Bangalore on popular property websites. There are several advertising sites to find a flat and contact the landlord.

Finding a home on through property websites offers certain benefits:

• Price calculator tool to compare rates
• See photos of the rooms, surrounding areas, etc.
• Get complete information
• Check amenities and facilities

Browsing through a long list online can be a time-consuming process. It comes with certain downsides. You must accomplish everything alone- visiting the property, completing the paperwork, etc. This can be a problem for novice tenants, students, and working professionals.

Rental Property Management

Rental property management companies work with landlords and tenants to offer a comprehensive solution. A property manager reduces the burden of tenants from day one. From helping the client find the desired property to dispute management with the landlord during the stay, these professionals offer high-end services.

Cheapest is Often Not the Suitable Option

Often people arriving in the city in search of opportunities look for the cheapest apartments for rent in Bangalore. However, rushing through the legal formalities to get the home with the lowest monthly rental is not the ideal choice. If you are new in the city, here are some considerations before choosing a house to rent:

• Is the locality safe for residents?
• Check the property and amenities on offer
• Visit the home/flat for close monitoring before signing the agreement
• Read the documents carefully before signing
• Is the rent amount inclusive of maintenance costs, brokerage fees, vehicle parking, and other charges?
• Are there any hidden costs?

Do you need help finding a rental property in Bangalore?

SANGAU is a reputed rental property management company offering property management services in Bangalore and adjacent areas. We do not charge any brokerage or property viewing fees. For more details, please visit https://sangau.com/index.html.

How to Manage Tenancy Disputes and Evictions in Bangalore

Letting a luxury house for rent in Bangalore is an excellent source of passive income every month. However, if the renter does not pay the dues on time, your income property investment can give you a nightmare. 

Thankfully, the Rent Control Act grants specific rights to a landlord to evict a tenant for not paying the outstanding rental charges. 

In this guide, we have explained how to evict a tenant legally (provided you have enough reasons to do so) from a rented property in the Silicon Valley of India.  

house for rent in Bangalore

What to do if the Lessee does not pay the Rent

When you lease house to a renter on a legal agreement, it is vital to include the terms and conditions that follow in the event of failure to pay the monthly rentals. In general, eviction is the last resort if the tenant seems reluctant to pay the dues after a mutual conversation or delays the process. The first step is to send a legal eviction notice to the occupant, asking the person(s) to leave the house. Mention the due time in hand and the consequences that follow if the occupants do not move out.

On What Criteria Can You Evict a Tenant 

The provisions of the Rent Control Act in India vary from state to state. In Bangalore, a landlord may file a lawsuit for eviction against the tenant for not paying the rent under section 27 (2) of the Karnataka Rent Control Act 1999 on the following grounds:

• The lessee does not pay the overdue intentionally for an extended period (should be at least 15 days or more from the specified date in the rental agreement)
• The tenant is found subletting/subleasing the rental property to another person without seeking the consent of the property owner
• The occupant is found using the rented property for unlawful activities/purposes other than that mentioned in the tenant agreement.
• An act (intentional/unintentional) by the tenant causing loss or damage to the property, fittings, utilities, etc. 
• The property owner receives a complaint (justifiable/valid) against the activities of the renter 
• The neighbours find the occupant’s involvement in objectionable activities and raise charges
• An act of intentional disapproval of the owner’s title in the rental property by the tenant for an unknown reason
• An urgent need for repair/renovation project that is not possible in an occupied house
• The landlord needs the property for his own use or for a family member(s)
• The owner wants to demolish the existing structure and construct a new building on the concerned premises 

Evicting a Tenant as Per Govt. Rules in India 

In one or more of the above events, a landlord may proceed to evict the lessee. Following are the eviction procedures under the Rent Control Act:

1- Send a Legal Eviction Notice Asking the Renter to Vacate the House

The landlord must approach the concerned court under the jurisdiction (based on the property location) to issue a legal notice for eviction. This legal document should clearly state the reason for sending the notification. The tenant should be allowed reasonable time to relocate somewhere else and vacate the property. 

In most cases, the lessee may follow the notice and leave the property. 

2- File an Eviction Lawsuit 

The tenant may refuse to comply with the initial notice and contest the eviction in court. The landlord may hire a property lawyer to file a suit as the last resort if the tenant refuses to vacate the property after receiving the eviction notice.

Both parties must proceed with the lawsuit in the civil court within the jurisdiction of the concerned property. 

The court will pass its judgment after hearing both parties. Once the court issues the notice of eviction, the tenant is bound to abide by the orders. 

Are you looking for rental management services?

Contact SANGAU for rental property management in Bangalore. From rental property marketing to tenant screening to rent collection, we offer a range of services for single and multiple properties. 

10 Vital Factors Affecting a Tenant’s Decision to Rent a House

A good landlord earning income by renting a residential property understands the expectation of the tenants when renting a house. Potential tenants are ready to pay higher rent for a residence if they find it suitable for their needs.   

Herein is an overview of things renters evaluate when choosing a new home. Read on if you want to offer a house for rent in Bangalore for a regular source of earning. 

1. Location 

The prime point of consideration when looking for rental properties is the location. Most people want to rent a house in residential complexes where they can form a community and live peacefully. There is hesitation to choose a flat/apartment adjacent to local markets and noisy areas.  

2. Rental Amount and Other Costs 

Budget is the decisive factor for most people looking to rent a house. Setting a competitive price margin influences the renter's choice over other factors. 

Often there is an inclination to set a high rent to maximize earnings. However, the idea may not work if the property remains vacant for the long term. A reasonable pricing structure is suitable for a steady flow of income throughout the year. 

house for rent in Bangalore 

3. Security Systems 

Safety is a priority for everyone when moving to a new house in an unknown locality. There are several ways to enhance security features in and around the property to make the dwellers feel secure and live peacefully. 

Apart from CCTV cameras and security alarms, homeowners nowadays install safety deadbolts and key-operated window locks for security. Outdoor motion lights and door sensors are also installed to prevent thieves and burglars from entering the home premises. 

4. Commute Facilities 

Most people rent a house in a new city for occupational needs. Excellent transport facilities to the job location, schools, and other important places impact the renter’s decision to lease your property. 

5. Water and Electricity Supply

Water and power supply are core needs for every household. If there are faulty plumbing structures or electricity points, it leaves a poor impression on the visitor. 

6. Property Type and Storage  

The need for storage space is never the same for all people. A person relocating with a small family of four people may like to opt for a 2BHK for rent Bangalore. Occupants who receive guests frequently want large premises, so there is a desire for 1-2 extra bedrooms. 

If you have a garage within the boundaries, the renter with a personal vehicle may show interest in the property. Some people also prefer keeping extra belongings in the garage space than within the house. 

house for rent in Bangalore 

7. Desired Amenities 

People accustomed to hectic lifestyles and busy schedules often indulge in leisure activities in their spare time. Homes close to parks, gyms, and other recreation centres are rented by potential tenants quickly. 

8. Condition of the Apartment 

People who want to move into a rented flat with a family are very choosy. They will monitor the house during the physical visit. Most renters will hesitate to shift into a home if it:

• looks unclean 
• has damaged structures
• has faulty plumbing
• has inadequate electrical fittings

Investing in apartment maintenance is always a sensible investment for property owners. It ensures the house does not lie vacant for a long time due to poor conditions. 

9. Local Community

New dwellers will prefer to form a community with other inhabitants in the locality. This is why flats in residential complexes are desirable compared to those in high-traffic areas. 

• Accessibility

A house located a few footsteps away from grocery shops, pharmaceutical stores, and a vegetable market ease life. Living in a house in a remote location can be problematic for new occupants. No one wants to live in a flat 30 minutes away from medical facilities, the local market, shops, and other amenities. 

Are you looking for tenancy management for your rental property?

SANGAU offers the best-in-class Bangalore Rental Property Management services. Contact us to know more about the solutions we can provide for your property business.  For More details visit https://sangau.com/

 

 

7 Tips to Deal with Tenant Complaints: Guide for Landlords

An investment property owner who aspires to offer his apartment for rent in Bangalore should know the possible situations that may emerge with time. You have done everything for property management, have the best-in-class finance management system, and a lawyer to handle the legal paperwork. 

What about tenant management?

Keeping your tenants satisfied and happy is the secret to success with income property. Among other things, dealing with tenant complaints is often complicated, involving a lot of work. 

Fortunately, it is possible to do this yourself. Here are a few common problems tenants may have and ways to deal with them.  

Complaint 1: Repair and Maintenance Issues

Damages may happen at any time, so rental properties are no exception. A tenant has limited rights to conduct repair work at the rental home. This is one reason; landlords receive several complaints about damages and request repair/restoration work. 

Solution: Schedule a Repair/Maintenance Work   

apartment for rent in Bangalore 

A lease agreement should clearly state the terms and procedures for raising a maintenance request. To ease things for the tenants, the rental property management in Bangalore allows the occupants to submit a maintenance request by filling up a form online. Upon receiving the request, talk to the occupants and fix a suitable date for the much-needed maintenance work. 

Complaint 2: Excessive Noise in the Neighbourhood

Noisy neighbours can create a lot of trouble for renters. From spoiling the entire day to affecting peaceful sleep at night, loud sounds can be disturbing for the inmates of the house in many ways. The dwellers can encounter various noisy neighbour issues ranging from shouting children to loud music. 

Solution: Take Appropriate Measures   

As an initial step, you may talk to the neighbours peacefully about the problem. If another tenant is responsible for the problem, it is easy to give a warning. 

If the rental property is located in a noisy area such as a market or high-traffic road, consider doing soundproofing in the rooms to eliminate such problems. 

Complaint 3: There are Pests in the House

Rodents, cockroaches, ants, flies, and mosquitos can pose severe health risks for your tenants. It is justified on their part to complain about these things. 

Solution: Conduct Pest Control Treatment at the Earliest  

Most landlords do pest control treatment as a preventive measure before the tenants move in. However, the problems may persist. If so, you may contact a certified pest exterminator. These professionals possess expertise in removing pests from the house and preventing further infestations. 

Complaint 4: Landlord Not Responding to Communications 

An occupant in a rented house may need support anytime. Whether a damage issue or problems with neighbours, they expect to find help from the landlord or their property manager. 

When the property owner or the manager does not take calls or reply to emails, they can feel anxious and helpless. It can be a blocker in your relationship with a potential tenant.  

Solution: Be Prompt in Replying to Calls and Mails from Tenants  

House for Rent in Bangalore

Be available to a tenant via phone call, messenger app, or email. Responding to communication at the earliest helps win the trust of the renters. Listen to their complaints patiently and offer help in the best possible way. 

Communication gap is often a problem when the owners of the flat/apartment in big cities are settled overseas. If this is your problem, it is worth seeking help from a reliable company offering Apartment for Rent in Bangalore .  

Complaint 5: Property is not Clean Enough for Move-in 

No one likes to move into a rented house that was left dirty by the previous occupant. It can be a disappointment for a tenant to see everything messed up on the date of arrival at the new home.  

Solution: Clean the Property After a Tenant Vacates the House 

It is the responsibility of the landlord to do thorough cleaning and maintenance work before a new tenant arrives with the belongings. If you have received a complaint, it is necessary to do the essential work to ease things for the dwellers. 

Coplaint 6: Pets and Stray Animals on the Premises 

Some pet complaints are urgent and must be considered an emergency. This may include:

An animal causing harm to other residents in the apartment/neighbours

• An exotic breed 
• A dangerous breed
• An illegal animal 

However, renters may also complain about sounds, faeces and urine of animals in their premises, common areas, etc. 

Solution: Look into the Matters at the Earliest  

Attend the emergency matters at the earliest to ensure your tenant’s safety. Even if the pet is not harmful, the other problems are significant to be addressed as early as possible (within a week). 

• Ask the owner to remove the dangerous species
• Give a warning at the first instance
• Charge a fine if problems persist
• Issue an eviction notice if no other alternative 

Complaint 7: Smoke and Bad Odours 

This is a problem for tenants and homeowners alike. A smoking neighbour can make life miserable. Similarly, the foul smell liberated from the drains and plumbing is annoying and unhealthy.  

Solution: Inspect and Resolve   

Ask the neighbour to avoid smoking near your property. If the problem persists even after the mutual conversation, you may send a legal notice to deal with the matter. For bad smells, you may hire a reliable plumber to clean the drainage outlets, sink pipes, or other attachments to sort out the issues. 

Do you need help in dealing with tenant complaints?

SANGAU tenancy management in Bangalore can help you through such problems. Our dedicated tenant manager can take care of your renters and their problems. Reach out for a consultation to know more about our tenant management services.