Reasons To Use Property Management Services In India
Indian diaspora is becoming extremely prosperous. NRIs living abroad are investing in Indian real estate faster than before. As NRIs are busy with their thriving lives abroad, their properties in India which require attention and protection.
In the last few years, property frauds of various kinds in India have been observed, specifically concerning the properties of NRIs. As an NRI, you practically can’t look out for your property in India at a regular interval. Also relying on your friends and relatives can be imposing, considering they are busy with their everyday lives. Additionally, legalities and compliances related to real estate can appear daunting to NRIs. The solution to these problems lies in hiring a legal team of professionals who can take care of compliances and the property itself.
Property Management For NRIs
A major aspect of property management is staying lawful. Owning a property involves complex documentation. Having a professional team to manage these documents is a smart way to stay on the right side of the law. These professionals include legal representatives who cater to every aspect of legalities related to real estate.
Benefits Of Property Management Services To NRIs
- Ideal Solution For All Legal Problems
In India, a legal acumen is required for all real estate issues. Therefore, there arises a need to hire lawyers for managing properties. Be it search of title deed, filing tax returns, preparing contracts related to property or assigning a lease; hiring an experienced lawyer for all these purposes is an appropriate decision for NRIs.
- Power Of Attorney
Having a legal property management firm gives an added advantage for NRIs, as they can grant their power of attorney to professionals for handling all the property-related compliances. This will prevent NRIs from traveling to India for handling every property matter. POA will authorize lawyers to serve notice to offenders, grant lease agreements and make appearances in court if deemed necessary.
- Protection Of Property
Property lawyers hired for the management of NRI properties make sure to protect property from any illegal occupants or illegal construction. Knowing that you have a professional looking out for your property in India will help NRIs leading a stress-free life abroad.
- Lease/Rent Agreements
Hiring a legal representative is extremely important for NRIs who are interested in renting out their property in India. Tenancy related frauds have been common in India. Therefore, having property lawyers for advising you to have a better rent/lease deed is a smart precautionary step.
Hiring a legal property manager for your property might be an evolving concept for Indians but it is surely a need of the hour. Property management services make sure that properties of NRIs are protected, managed and yield profits for their owners. Hiring such services is extremely recommended for NRIs.
Property lawyers with years of experience in managing matters pertaining to NRI properties in India, provide legal advice and solutions to NRIs in matters that include property search, transfer of property, the partition of joint property, and buying or selling of properties in India.
They also help NRI property owners in verifying the authenticity of tenants, get the legal property documents prepared, help in maintaining the property, etc. As legal representatives of NRI properties, property lawyers also update legal documents periodically and deal with matters of tenant eviction.