Property Management in India – Nidhi Singh Talks Live on FB

Property Management Lawyers


In light of the high number of queries that we have been getting for various property management issues, we decided to focus our FB Live series on this aspect. Within that, we started this time by addressing the problem of Land Search and Documentation. In the Live interaction with the NRI audience, Nidhi explained the importance of getting your documents in order and also the necessity of getting your title deeds all clear. The following is a glimpse of the session.

Relevance of Property Management

  1. Overseas Citizens usually need Property Management in India
  2. Both distance and time make it difficult for them to keep a tab on their property matters
  3. Many times we have seen and heard the NRIs complaining about their property being commandeered by unwanted elements, for the apparent lack of maintenance of proper documentation
  4. NRIs mainly face problems due to the lack of such details and documents that are required to claim ownership of the same. Usually, NRIs have all the documents, but they just haven’t updated them or validated the title deed or checked the ground reality of the property.
  5. Their Property is either inherited or Purchased
  6. Ownership records not easy to trace out
  7. Sometimes registry details have been lost or not been updated
  8. This can damage their property rights in India
  9. An NRI needs to ask himself the following:
    • What exactly he owns?
    • If there is any problem related to his/her ownership?
    • If there is a clear title for that property?
    • Can it be transferred?
    • If he/she has the details about – area of the property, evaluation, and documents of the same and its complete description

10. Current Updated Documents and Validated Title Deed are the few of the most important things that an NRI needs to possess if he owns a property in India.

What Property Management Involves

  • It is imperative for an NRI to maintain properly updated property documents to protect him/her from any disputes.
  • Since he can’t do himself, he resorts to the property managers
  • Documentation is the first step, and it includes:
    • Clear document stating the description of the property
    • Explicit mention of the area and size
    • Explicit mention of the name
    • Details of the property after the proper evaluation the same
  • Sometimes even documentation can bring its worries
      • Documentation can be in vernacular languages – then needs to be translated
      • The extent of share cannot be fully comprehended through any ownership document available online.
  • Documentation is most often insufficient for them to get an in-depth view of their exact share or valuation.
  • Another challenge that one faces in India is that most records have changed addresses and cannot be identified by the older addresses that clients have.
  • Registered sales deeds which are the primary document of the title are not available either with clients or cannot be found in the archives of the relevant offices or municipal authorities.
  • A subsequent sequel to this is to go then through courts to establish Title Declaration.
  • If a fraud like illegal transfer or an invalid sale or exchange has been committed any time in the past, one needs to apply for the older record to verify how and when that fraud was committed. Such older documents are applied for and obtained through legal experts.

 Why Us – What Role We Play

  • We understood the need of having
    • an exclusive land registry and land records service for just NRIs since the nature of the problems they face legally needs to be handled differently from other problems.
    • We offer a one stop, committed, diligent, efficient and focused team to handle all such issues.
  • All NRIs essentially seek a soothing and efficient system – Somebody to relate to their issues, somebody to understand the nuances of both their needs and their limitations, somebody who just knows and does what needs to be done to facilitate the processes;
  • Somebody who can understand that it is not within their means or understanding to handle the required paperwork.
  • Neither do they have the time, nor is it possible for them to travel back and forth to India to sort out such issues.

WHAT EXACTLY DO WE DO

  • Simplification of all details about the land registry and title deeds so that the client can comprehend things clearly.
  • Giving the client a comprehensive land search report so that he, as the owner gets information about both the area and valuation of his land.
  • A systematic approach under the guidance of the company property management lawyers related to search, registry, title and then, getting the property ownership documents and records in order.

WHAT IS THE USE OF SUCH SERVICES?

  • NRIs can safeguard themselves from anything that comes in the futures such as fraud and trespassing.
  • They can even protect themselves from criminal litigation by proving their innocence with the help of properly maintained documents.
  • The property management lawyers in NRI Legal Services give free legal consultation on all the matters related to the property. We also help settle the issues, file a case on one’s behalf, evaluate the property, and help obtain all the documents, without your actual presence in the country.

Property Management – Facts and Roles

Property Management Lawyers Facts and Roles

Property Management is the overseeing, operation, and control of real estate whether commercial or personal, equipment or other assets that belong to another person. Property Management Lawyers are responsible for looking at all aspects of Property Management.

The service of Property Management includes:

  • tenant placement i.e. advertising about the estate; finding, screening and showing the property to the prospective tenant; handling leases; settling, collecting and adjusting the rent and dealing with complaints/emergencies; managing vacating process; dealing with evictions
  • maintenance and repairs i.e. sustaining the condition of the property and making repairs to keep it in proper shape; making arrangements with the repair services and scheduling it with tenants
  • administration i.e. assuring the compliance of government rules and regulations; monitoring and reporting financial transactions related to the property; and serving as a liaison between tenants, site personnel, and landlords

Importance of Property Management

Investing in a property is the easy part but maintaining and managing it takes a lot of effort. Therefore, owner sometimes finds himself/herself in legal disputes or being harassed by tenants. In such a case the property manager can help owners safeguard themselves from any conflicts in the future. Property Management is helpful in the following ways:

Better Tenants

  • The property manager is responsible for finding a suitable tenant. It’s his responsibility to sort through all the applications and screen the prospective tenant before signing the lease.
  • The screening includes checking applicant’s identity, applicant’s rental history, criminal background and running credit checks. Therefore the appointing property manager helps you to protect yourself from any bad experience with the tenants.

Fewer Legal Issues

  • Although one might know all the rules and regulations related to real estate investment, he/she may not be so informed about the landlord-tenant laws.
  • Hence, using a property manager for setting, signing or terminating the lease; evicting the tenant; inspecting the property and collecting security deposits can help to safeguard you from any legal issues.

Fewer Vacancies

  • The property manager always tries to remain up-to-date with changes in the real estate market which help him to make the decisions that benefit the owner of the estate.
  • Such as upgrading of the rental units to attract quality tenants and lower the vacancy rate or adjusting rent as per the market etc.

Role of Property Management Lawyer

The role of Property Lawyer is:

  • giving legal advice on property management, the estimated value of the property, violations, and restrictions on property, real estate taxes, etc.
  • resolving any property disputes, deed issues
  • helping in solving the disputes over injuries, encroachment, trespass and boundaries
  • responsible for dealing with different problems such as proof of title, tenants, etc., and making estate transactions
  • evaluating and preparing estate documents, draft deeds, and filing them
  • helping in registering documents for the clients and checking for various adjustments
  • revising the terms mentioned in the contracts and agreements
  • arranging the terms to be specified in the purchase and sales contracts

Responsibilities of Property Management Lawyer

The responsibilities of the Property Lawyer are:

  • helping the clients with title problems, environmental issues, and insurance issues
  • evaluating and making inspections, appraisals, purchase agreements, and leases
  • drafting documents like deeds, contracts and rental and financial arrangements for various transactions and purchases
  • reviewing transactions and giving legal advice if required
  • representing the clients in court whenever necessary
  • participating in trials and hearings, filing appeals, legal pleading and drafting documents
  • negotiating and bargaining on the clients’ behalf
  • helping them in achieving settlement transactions

To Avoid Property Disputes- Learn Property Management

property management

Over the years we have been handling various NRI clients with property dispute issues, and our observation has been that ignorance of fundamental rights and norms leads to a lot of hassle for NRIs. It would help if people were conscious about getting their property issues properly managed.

Professional Property Management is a domain that has come to gain importance over the past few years. Greater value needs to be given to this aspect so that the interest of NRIs is safeguarded. Technically, Property management is the administration or management of property whether they are residential, commercial or industrial.An individual who is hired to professionally handle the daily operations of a real estate investment and other issues would be called a property manager. They manage all types of properties, from single family homes to large apartment complexes. Property managers act on behalf of the owner to preserve the value of the assets while generating income.

The responsibilities of a property manager vary, based on their salary and the terms of their management contract, but mainly they include the following:

Rent
Property managers are responsible for setting the initial rent level, collecting rent from tenants and adjusting the rent.
Setting Rent – The property manager knows how to set the right rent level to attract tenants to the property by their understanding in respect of the market and property located in the area.
Collecting Rent – They play the role of the enforcer i:e fixing up a date for rent collection each month and ensuring it is paid (with late fees if needed).
Adjusting Rent – The property manager can increase or decrease the rent by a fixed percentage each year, according to law.

Tenants
One of the primary responsibilities of the property manager is to manage tenants i.e. finding the tenants, dealing with them, and their complaints and initiating evictions.
Finding Tenants – Property managers are responsible for marketing the property. They understand what attracts tenants and what kind of makeover the property needs to fill the vacancies.
Screening Tenants – They are responsible for sorting through the prospective tenant applications to find the best tenant for your property. They have a proper selection process, which includes running credit checks and criminal background checks.
Handling Leases – They are responsible for setting the length of the contract, the amount of security deposit and making sure it has all the necessary provisions to protect the owner.
Handling Complaints/Emergencies – They are paid to deal with all kinds of complaints, requests and handle emergency situations.
Handling Vacating process – When a tenant vacates a property, the manager is responsible for inspecting the property, checking for damages and deciding what portion of the security deposit is to be returned to the tenant. Besides this, small issues like cleaning, repairing, looking for new tenants are also the responsibility of the property manager.
Dealing with Evictions – In case a tenant doesn’t pay rent or disobeys the terms of the lease, it is the property manager who would see to it that the property is vacated by the tenant.

Maintenance and Repairs
All physical management, repairs, maintenance of the property also becomes the responsibility of the individual or firm doing the professional property management.
Responsible for Knowledge of Landlord – Tenant Law – The property managers must have a thorough understanding of laws regarding the proper ways to:

  • Screen a tenant
  • Handle security deposits
  • Terminate a Lease
  • Evict a tenant
  • Comply with property safety standards

Supervision
Property managers take care of the property in the absence of the owners, protecting it from vandalism and making sure the repairing is done adequately and timely.
Vacant Properties – Property managers are often hired to look after vacant properties so that there is no vandalism and they are properly maintained. They also make sure contractors or repairers complete their work in time.

Managing the Budget/Maintaining Records
Operating Budget – The manager must operate within the set budget for the building, but in any emergency situations where the tenant or property is in danger, they can order repairs without any concern for the budget.
Maintaining Records – The property manager is supposed to keep thorough records of transactions, leases, maintenance, repairs, complaints, rent, insurance regarding the property.

Taxes
The property manager takes it upon himself to assist the property owner with the tax-filing for the particular property.

WHY IS PROPERTY MANAGEMENT IMPORTANT?
The main benefit of Property Management is to the owners of houses, and other real estate properties are the preservation of their properties with regular maintenance and repairs.
Proper asset management also adds value to your houses for rent and helps in time of selling the property.
It helps in the continuous flow of business and income for the owners and the satisfaction of tenants’ needs.
This is a service that holds exceptional value for NRIs who cannot always travel back and forth to India – this limitation also causes mental harassment for them, as they land up in situations where their property might be under threat.