2) Appointing an agency to rent and manage your property
If you have kids, chances are you go for a professional nanny or babysitter. So why choose a local real estate agent who does everything from residential/ commercial buying and selling to renting. Choosing a generalist for the job will be a headache and will prevent you from maximizing your annual rental income.It is advisable not to market your available rentals to multiple local agents, as they do residential renting as a sideline business and are not aware about the intricacies and concepts of rental management, rental income taxation and rental yields.
In the last 10 years, the number of NRI residential property owners has doubled and most of them choose to keep it locked.
In parallel more high quality corporate tenants insist that their rental property be managed and do not want to deal directly with absentee landlords.
Finding the right rental management firm is critical when it comes to complete rental management of the property. The use of a rental management company can be beneficial as they are able to look after the receipt of the rent, deal with ad hoc tenant queries, get essential maintenance work done using their own network of trusted contractors and carry out regular inspections of the property.
There must be a connection, understanding, and good communication between the property owner and the agent. There are lots of things that need to be kept in mind while renting, you want an agent who is on top of his game and is a specialist.
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