Real estate owners can now make better use of their property than ever before. There was an era when landowners criticized the outmoded provisos of the Rent Control Act, while others, especially the NRI families, living away from their homeland for years, hesitated to rent out their properties due to the fear of losing their assets.
In a contradictory situation, where residents are looking for rental accommodation at reasonable prices, most of the rental homes remained vacant due to lack of properly organized supervision of assets in the absence of landowners. Now, with the dawn of a new era, several multinational companies specializing in Facility supervision are offering various types of Property Management services.
Though it is not a new concept, still these services are confined to just a few agencies that are catering to corporate sectors. On the part of individual landowners, hardly any effort is taken due to various factors. As per the industry experts, property management services are exceedingly in demand, not only among local residents, but NRIs as well, who have migrated to other countries in the search of better opportunities. Thus, it has now become a necessity to outsource the task of property management for all those owing a property, but have relocated to another city or country.
As per the industry sources, a few prominent agencies already in operation have expanded their base to other cities, while others are still in the process of doing so. Now, it is not a competitive market, though in the next few years, it is most likely that most of these agencies would find themselves in the tussle. The wide array of services offered by the agencies may vary in terms of maintenance, placement, signage, contracting, pest control, regular cleaning, health and safety contracts, and handling emergency situations.
All those residing in other cities or countries, they would need to hire services of property management agencies when leasing, renting, or handling different property issues. Experts from the industry, who acknowledge the growing demands, feel that such services should not only be utilized by individual landowners but also by property developers and builders right from the initial stage of construction. This would help them to better understand the problems involved in maintaining properties. For instance, if a building is not constructed in the way that supports easy access for appropriate cleaning, then it could be a permanent agony for both the landowner and the agency offering such service. As per the industry sources, the fee charged by a property management agency depends on the type of building, the area, and type of services demanded by the clients. Apart from offering maintenance services, many of these agencies are now offering other services like reconstruction and renovation of architectural designs, and even resale of existing properties. In the coming years, it is expected that such services would get enlarged further. Indeed, better days are waiting ahead for real estate investors as they would be completely equipped to manage their properties without having to solely depend on close relatives or friends, while they are away. This would encourage more and more people; especially NRI families who are awaiting an opportunity to invest in real estate, to come back to their homeland and earn a hefty income on their investment.
Moreover, there has been a growing interest among realty investors to add value to their property by maintaining it well. With an increasing number of residential buildings and commercial complexes engulfing all over, the demand for property management services can be expected to escalate further. Harji Realtors is one of the leading real estate agents in the region of Chandigarh, Mohali and Kharar. For more information on great deals in Sunny Basant Enclave and the best Plots in Sector 117 check out our website