Navigating Property Management in Bangalore: Ensuring Tenant and Property Safety
Looking for reliable property management services in Bangalore, especially in the Varthur area? The market is often crowded with various property management companies promising to take care of your rental properties. However, the challenge lies in finding the right manager who ensures both property and tenant management services without compromising on efficiency or safety.
The Sub-Leasing Instinct of Property Managers in Bangalore
Many property managers in Bangalore opt for a sub-leasing model to manage your property. This involves the management company leasing your property from you and then sub-leasing it to consumers in the market. While this model can seem beneficial due to its potential profitability, it also comes with several drawbacks. Let's explore these issues and discuss why you should consider a different approach.
How Sub-Leasing Works in Bangalore
When a property manager chooses to sub-lease your property, they lease it free from you and then sub-lease it to consumers in the market. This practice allows the property manager to generate additional revenue, which they split with you—retaining a portion of the revenue and returning the rest. The exact division of revenue can vary widely depending on the manager, and your awareness of this arrangement is crucial before entering into a deal.
The Drawbacks of Sub-Leasing Model
Though sub-leasing can be attractive due to its profit potential, it comes with several disadvantages:
Unknown Tenants: Property managers often do not disclose who is living in your property. This lack of transparency can pose security risks and can also damage the condition of your property.
Total Inhabitants: To maximize their returns, property managers might overcrowd your property by allowing as many people as possible to reside there. Overcrowding can significantly damage the structural integrity and aesthetic appeal of your property.
Commercial Purpose: Renting a residential property for commercial purposes without proper authorization is legally non-permitted. Some property management companies conduct such practices without your knowledge, which can jeopardize your legal standing.
Nuisance Tenants: Allowing a group of bachelors with no stable income and minimal care for the property can harm your emotional attachment to your property and your investment's overall value.
Lack of Information: Property management companies may not provide true or sufficient information about your tenants, such as family sizes, rent amounts, and security deposits.
Excessive Profits: Many companies demand a larger cut from tenants, returning less to the property owner. This is particularly concerning when you consider that the property manager is only required to place a tenant once but can take profit every 11 months through brokerage fees.
Why Avoid Sub-Leasing
Given the potential risks, it's crucial to avoid sub-leasing your property. Instead, consider the following solutions:
Direct Rental Agreement: Arrange a direct rental agreement with your tenants to retain full control over your rental process and financial transactions. This ensures that all communications and transactions stay transparent and direct.
Select a Reputable Property Manager: Hire a property management company that operates directly with tenants and manages all financial transactions, ensuring that your investment remains secure and well-maintained.
Co-ordination and Reporting: Utilize a property management service that offers comprehensive coordination and reporting services at an affordable cost. They can assist with communication, maintain your property, and ensure a smooth rental experience for you and your tenants.
Introducing PGN Property Management
For those seeking a reliable and transparent property management solution, PGN PROPERTY MANAGEMENT offers an end-to-end service exclusively for property owners. Unlike conventional sub-leasing models, we never sub-lease your property; instead, we arrange direct rentals between you and your tenants. This approach ensures full transparency and maintains your interest in the management process.
Key Features of PGN PROPERTY MANAGEMENT:
No Sub-Leasing: Your property will be rented directly between you and the tenant, with no intermediaries involved.
No Recurring Monthly Charges: We do not impose additional recurring monthly service charges, keeping your costs low.
Direct Rental Agreements: We support tenants in directly signing rental agreements with you, ensuring that all transactions are managed seamlessly.
Seamless Communication: We provide a platform for open and transparent communication between you and your tenants, helping to maintain a healthy and productive rental environment.
Affordable Pricing: Our fees are very competitive and affordable in comparison to industry standards.
Contact PGN PROPERTY MANAGEMENT today for more information, or reach out directly through any of the following channels:
Email:
Phone: 91-9742479020
WhatsApp: 91-9742479020
Thank you for considering our services, and we look forward to working with you to ensure your property and tenant management needs are met efficiently and transparently in the Varthur area and beyond.
Team PGN Property Management