Planning to invest in property in India? The wise investor understands the Indian property market before signing on the dotted line. While the rules for investing in property in India are similar to the rules in the UK – study the neighbourhood, the builder’s record, check the legal records, get a lawyer to vet the documentation, there are still some quirks to the Indian market that may cause trouble to an unsuspecting investor.
All the potential problems will of course be compounded if the investor is based in another country. The last few years, however, have seen the launch of property services geared specifically to non-residents Indians who want to invest in India. These property management companies offer a variety of services including buying and selling of property, lettings and full service management. How can one choose the right property management firm who can look after their Indian property?
This series will cover the six secrets of successful property management in India, secrets that are key to ensuring a great property ownership experience.
The six secrets are as follows:
- Reliable Tenants: Always vet the tenants thoroughly before you hand your property over.
- Legal System: The legal system, though complicated, can be your friend. So keep the law on your side.
- Money Management: Make sure money matters like rent collection, repatriation of income and taxes are taken care of early.
- New Property set up: Buying a new property can be exciting but decorating it long distance can be a potential nightmare.
- Operational Issues: Day to day maintenance like repairs and upkeep can be small and painful to arrange in another continent.
- Trustworthy partners: Contractors and service providers are plenty – finding the right partner who you can trust with your property makes all the difference.
The series will address each of these points and give you invaluable tips on how to navigate the Indian property market. The goal is to ensure that you receive joy and attractive returns from your property in India.
Want to know more about the Indian real estate market Unesta is a property services firm, with offices in London and Mumbai, offering letting, sales and property management services to NRIs owning property in India. www.unesta.com