1Why should I hire a Property management company to manage my property?
If you have the time, patience and skillset to manage your property, and live in close proximity to the property, then you are likely the best candidate to manage your property. But not all property owners are lucky to have all those attributes. That's where a Property management company comes in. We are professionals who do just this day in and day out. Property investment requires commitment. Reducing cost of vacancy, protecting property, handling maintenance issues, avoiding encroachments and bad tenants, frequent proprety visits, etc. are critical to the maintenance of your investment.
2What type of properties do you manage?
We manage commercial, residential homes, apartments, apartment complexes and vacant plot / land.
3How will I collect my rent?
Loha Realty will collect the rent and deposit it into your bank account or if you prefer, we can instruct tenant to transfer rent online to your bank account directly.
4Who pays the utility bills?
Tenant pays monthly electricity charges Loharealty on behalf of the Owner pays Property, Water & Sewage tax
5Who pays my taxes?
Loha Realty will take care of paying taxes, but the amount will be payable by the property owner.
6What financial statements do I get?
We provide expense report for you periodically, so you are aware of the expenses in your house. We also send you scanned copies of vendor bills for your records.
7Who do you call for maintenance work?
We’ve partnered with a maintenance company who will attend calls immediately in and around Chennai for us. This helps us provide prompt and quality service to our clients. On occasions when we can't have our maintenance company attend calls, we hire local contractors to get the job done
8What happens to the advance that you get from tenant?
The advance money will be deposited into the Property owner’s account or sent to the property owner. When tenant is ready to vacate property, owner will be asked to issue check to be reimbursed to client.
9Do tenants pay for clean up and repair cost when they move out?
In Chennai, it is tradition to NOT clean up the house when tenants leave. Ask your elders, they will confirm it. So, we will have to do the basic clean up, which is negligible anyway. We will do an inspection & inventory check right after tenant leaves and charge the tenant for any damages caused to the property, excluding normal wear and tear.
10What if tenant doesn’t pay rent on time?
We work with the tenant to find out reasons for late payment. Most of the time, the tenants are busy and forget to pay, which is not as much of a problem. But if the tenant has trouble paying due to other reasons, we first try to work with them to resolve such issues in future, if not, we’ll have them vacate the property.
11Where do you advertise?
Local broker network is our strength. Depending on location, this is where you get more than 50% of the leads from. Apart from this we also advertise in Newspapers, Local dailies, Internet and Corporates.
12How do you decide what Interiors are needed in my house?
This is a mix of your requirement, what the market wants, what competing rentals offer, what kind of rent you expect, etc. We know the minimal woodwork required in a house to rent it. We assimilate all this information and suggest an optimal set of woodwork for your house. This can be just the bare minimum or as extensive as you want.