Top 10 Property Management Service List: Meaning, Charges, and Companies (For NRI and HNI)
Are you searching for a Property Management Service List for managing a house not in your inspection? Here we have discussed the Property Management Services in India that companies offer. If you are an NRI, HNI Aspirant Property Manager or Real Estate Agents then this guide will help you better understand where you should spend your money for managing them.
The complete guide will walk you through the property management meaning, types of services and lists, duties, list of platforms where you can find genuine property managers, and estimate service charges so that you can negotiate better.
Top 10 Property Management in India
Property management in India is a relatively new and trending concept, gaining prominence as more Non-Resident Indians (NRIs) and High Net Worth Individuals (HNIs) invest in rental houses, stores, and apartments in different cities.
This emerging trend involves third-party contractors overseeing the daily operations of various properties, including maintenance, security, and upkeep.
These property managers play a pivotal role in preserving property values and generating income for owners, particularly in sectors like apartment complexes, private communities, shopping centers, and industrial parks. As the real estate landscape evolves, property management becomes increasingly crucial.
Property developers often seek to move to their next project upon completion of the property, typically delegating day-to-day operations to external firms which are Property Management Companies. They provide the following services:
Manages rental properties such as single-family homes, vacation rentals, multifamily homes, townhouses, condominiums, apartments, manufactured homes, and REO properties.
Commercial Property Management
Focuses on properties like hotels, malls, restaurants, gas stations, office buildings, and co-working spaces.
Industrial Property Management
Oversees heavy manufacturing facilities, light manufacturing factories, warehouses, and distribution centers.
Special-Purpose Property Management
Includes management of theatres, sports arenas, resorts, senior care facilities, schools, and places of worship, among others.
Mixed-Use Property Management
Manages properties with a mix of residential, commercial, and industrial components.
Property Management Service List 2023
The property management services vary according to tenant’s needs, property types, city, place, financial and legal status etc.
Property Maintenance Services
Routine Inspections
Regular Property Inspections
Inspection Reporting
Maintenance Planning
Preventive Maintenance
Repairs and Maintenance
Emergency Repairs
Scheduled Maintenance
Vendor Management
Property Improvement
Landscaping
Lawn Maintenance
Garden Design and Care
Irrigation Systems
Outdoor Lighting
Cleaning Services
Common Area Cleaning
Unit Cleaning Services
Deep Cleaning
Janitorial Services
Property Financial Management Services
Rent Collection
Rent Payment Processing
Late Payment Handling
Online Payment Options
Rent Increase Notifications
Accounting and Bookkeeping
Financial Record Keeping
Expense Tracking
Tax Reporting
Financial Statements
Budgeting and Financial Reporting
Budget Development
Expense Analysis
Financial Reporting
Financial Planning
Expense Management
Utility Bill Payments
Vendor Invoices
Cost Reduction Strategies
Budget Optimization
Legal and Regulatory Compliance
Lease Agreement Drafting
Custom Lease Agreements
Legal Review
Terms Negotiation
Document Preparation
Eviction Services
Eviction Notices
Legal Proceedings
Tenant Communication
Eviction Resolution
Compliance with Local Laws and Regulations
Fair Housing Compliance
Zoning and Building Codes
Licensing and Permits
Tenant Privacy Laws
Tenant Dispute Resolution
Mediation Services
Legal Consultation
Conflict Resolution
Court Representation
Some other property management services also include Tenant management and property marketing for selling. These services are offered by the Digital Preneur, Marketer and Agents Brokers.
Tenant Relations
Tenant Communication
Lease Agreement Communication
Maintenance Requests
General Updates
Emergency Contact
Handling Complaints
Complaint Resolution
Maintenance Complaints
Noise Complaints
Policy Violations
Tenant Retention Strategies
Tenant Loyalty Programs
Lease Renewal Incentives
Tenant Satisfaction Surveys
Community Building Events
Emergency Response
24/7 Emergency Hotline
Disaster Preparedness
Emergency Maintenance
Crisis Management
Property Marketing and Tenant Acquisition
Online Listings
Listing Creation
Search Engine Optimization (SEO)
Professional Photography
Virtual Tours
Advertising
Digital Advertising
Print Advertising
Social Media Marketing
Pay-Per-Click (PPC) Campaigns
Tenant Screening
Background Checks
Credit Checks
Reference Verification
Rental History Check
Lease Negotiations
Lease Agreement Preparation
Negotiation Strategies
Legal Consultation
Terms and Conditions
Property Management Charges In India (Estimated)
Please keep in mind that these estimates are approximate and can vary based on factors such as the complexity of financial transactions, the number of properties under management, and the specific needs of the client. It’s advisable to conduct market research in your city and consider your costs and competitive factors when determining pricing for financial management services in the property management industry in India.
Routine Inspections:
Service
Service Charge Range (INR)
Regular Property Inspections
1,500 – 3,000 per inspection
Inspection Reporting
1,000 – 2,500 per report
Maintenance Planning
2,000 – 4,000 per plan
Preventive Maintenance
2,500 – 5,000 per service
Repairs and Maintenance:
Service
Service Charge Range (INR)
Emergency Repairs
2,500 – 5,000 per service
Scheduled Maintenance
2,000 – 4,000 per service
Vendor Management
3,000 – 6,000 per month
Property Improvement
Varies based on project
Landscaping:
Service
Service Charge Range (INR)
Lawn Maintenance
1,500 – 3,000 per month
Garden Design and Care
Varies based on project
Irrigation Systems
2,000 – 4,000 per system
Outdoor Lighting
2,000 – 4,000 per system
Cleaning Services:
Service
Service Charge Range (INR)
Common Area Cleaning
1,500 – 3,000 per month
Unit Cleaning Services
1,000 – 2,500 per service
Deep Cleaning
2,500 – 5,000 per service
Janitorial Services
1,500 – 3,000 per month
Rent Collection:
Service
Service Charge Range (INR)
Rent Payment Processing
1,000 – 2,500 per month
Late Payment Handling
500 – 1,500 per late payment
Online Payment Options
1,000 – 2,500 per setup
Rent Increase Notifications
500 – 1,500 per notification
Accounting and Bookkeeping:
Service
Service Charge Range (INR)
Financial Record Keeping
2,000 – 4,000 per month
Expense Tracking
1,500 – 3,000 per month
Tax Reporting
2,500 – 5,000 per filing
Financial Statements
2,500 – 5,000 per statement
Budgeting and Financial Reporting:
Service
Service Charge Range (INR)
Budget Development
2,000 – 4,000 per budget
Expense Analysis
1,500 – 3,000 per analysis
Financial Reporting
2,500 – 5,000 per report
Financial Planning
3,000 – 6,000 per plan
Expense Management:
Service
Service Charge Range (INR)
Utility Bill Payments
500 – 1,500 per payment
Vendor Invoices
1,000 – 2,500 per invoice
Cost Reduction Strategies
Varies based on the project
Budget Optimization
Varies based on project
Lease Agreement Drafting:
Service
Service Charge Range (INR)
Custom Lease Agreements
2,500 – 5,000 per agreement
Legal Review
1,500 – 3,000 per review
Terms Negotiation
2,000 – 4,000 per negotiation
Document Preparation
1,000 – 2,500 per document
Eviction Services:
Service
Service Charge Range (INR)
Eviction Notices
1,500 – 3,000 per notice
Legal Proceedings
3,000 – 6,000 per case
Tenant Communication
500 – 1,500 per communication
Eviction Resolution
2,000 – 4,000 per resolution
Compliance with Local Laws and Regulations:
Service
Service Charge Range (INR)
Fair Housing Compliance
Consultation-based
Zoning and Building Codes
Consultation-based
Licensing and Permits
Consultation-based
Tenant Privacy Laws
Consultation-based
Tenant Dispute Resolution:
Service
Service Charge Range (INR)
Mediation Services
2,500 – 5,000 per case
Legal Consultation
2,000 – 4,000 per hour
Conflict Resolution
3,000 – 6,000 per resolution
Court Representation
5,000 – 10,000 per case
Top 10 Property Management Companies Online
Final Destination Reality Pvt Ltd: Indore Real Estate
FDR Real Estate provides Property Management services in Indore. We have been in Indore Real Estate for 5 years. To get your property-related service do contact us.
