5 reasons to use a Key Management Service for your property in India

blog, Estate Planning

Key Management Services

When it comes to key management, NRIs usually hand over the responsibility of maintaining the

Property key to such person or bodies whom they can trust. Normally the keys for the property is

kept either by the NRIs themselves or one of their family member or a friend. The challenge comes in deciding how to ensure that the process of leasing or selling of the property is done while the NRIs are outside India. It is always better to hire professionals for keeping safe custody of your keys to ensure that the property can be shown to the prospective tenants or buyers or for maintaining the property on a regular basis while you are abroad.

The services that Key Management Services provide are:

Property Visit: The Key Management Service provider makes a regular property visit to keep the NRIs updated with the status of their property. They make sure that the property is safe, well maintained, free from danger/threats.

Finding a tenant: If NRIs wish to find a new and reliable tenant, they can simply ask their Key Management Service provider team to find a new tenant for the property. Key Management Services comes in hand because managing a tenant from abroad is a very difficult job to do.

Screening of the tenant: When hiring a tenant, the key management service team makes sure that they screen the tenants very carefully. Complete background check and police verification of the tenant is done to ensure that the property is not let out someone who might be a threat in future.

Rental Payments: NRIs are not very much aware of the rent rate to quote to the prospective tenants. The key management service provider helps in setting up an initial rent payment and also arrange the regular rent collection. The rest are increased or decreased as per the law.

Management of repair works: NRIs can be cheated or lied to when it comes to maintenance or repair works for their property. Key Management Service provider makes sure that everything NRIs asks for is done on their property at a very economical price.

Tax payment: Tax Payment Assistance is one of the essential reasons why NRIs should opt for Key Management Services. This is because sometimes NRIs tend to forget that their properties back in motherland are eligible for taxation and they forget to pay the tax. But with key Management service provider on their side, paying taxes is never a miss.

We provide you with Key Management services to make your life hassle free. If you are a NRI who wants assistance in tenant management of your property in India, please get in

touch with us.