|Buying Property Tips#1: Choose the Right Location|
|Before you choose a location, it is of utmost importance that you consider the development prospect of the area. Other factors to consider here is crime record of the area, availability and nearness of public facilities and utilities.|
|Buying Property Tips#2: Study the Local Market Dynamics|
|It is important to get well familiar with the local realty market. Learn the variation in property prices by street. Don’t shy away from asking a few realty investment agents questions to get better insight on the matter.|
Property Management Services is not new to the real estate sector. It has been evolved due to the requirement of the professionals who have prior expertise of property management so that they can convert expense occurring property into revenue generating.
PropCare is India's 1st Professional Property Management Services Company which helps commercial and individual owners maximize their returns on investments. We provide services related to asset management, leasing management and interior designing. These services reduces the pain of owners and investors as when they handover the keys to PropCare, all worries of property management gets automatically redirected to us.
We help you to maximize the value of your asset from possession through operations management and eventually leasing. This require the speciality of property manager who can integrate possession, operation management, due diligence, leasing in combination with timely, accurate and informed response in determining the optimal solution for your asset. PropCare has a similar experience of over 9 years in providing value addition services to its clients.
|Buying Property Tips#3: Choose the Right Property|
|Getting the right property right away is quite unlikely. First, you need to be clear on why you want to buy an investment property. After that, you will be able to make right decision based on factors like remoteness or accessibility of the property.|
|Buying Property Tips#4: Do the Math Properly|
|Get a precise idea on the value of assets you have available. If you are investing in rental property, make sure you can easily cover the mortgage payment through rents. Additionally, get a clear idea on the appraisal value of the property beforehand.|
|Buying Property Tips#5: Consider Additional Expenses|
|When purchasing an investment property, it is not only the selling price that investors need to consider. There are various additional expenses such as property tax, home owner’s insurance, repair & maintenance that must be considered.|
Our unique way of value addition to investors and owners across the lifecycle of ownership helped each client to increase capitalisation value of their property. Our professional managers listen to the goals of owners and investors and then tailor our services to ensure their goals are achieved. After understanding requirements, we form a team of property manager, leasing manager, facilities manager and assistant manager. This team will add value according to their expertise in respective domain.
- First responsibility is towards our clients i.e. investors and owners. We help them through lease administration, proper budgeting and expense control. We prepare approx. annual budget in advance for them to show a clear vision for the year ahead. This budget servers as a booklet for owners, tenants and property managers.
- Second priority is maintaining tenant's relation with the owners. We provide 24-hour support to tenant and look after the maintenance of the property so that they do not have to suffer.
- Third area of focus is vendors. We make sure that the work done by vendors are best and exactly required by the owners and tenants. Even we do not accept tolerance of 1 %. We are known to provide exactly we commit to our clients. So we keep tighter control over the maintenance procedure.
Our property managers have wide exposure to property management and they are capable and adaptable. They have the ability to turn the expense occurring asset into revenue generating.
Our service portfolio contains diverse services in domain related to customer service, leasing, marketing, due diligence, interior designing and property management. All these services and exposure of PropCare team reduces the problems of investors and owners, so that they can make sound decision related to their property.
|Buying Property Tips#6: Inspect the Property|
|To ensure that you are getting everything you are paying for, a thorough inspection of the property is essential. Besides ensuring that you are not overpaying, a rigorous property inspection also gives you a good estimation on what the additional expenses might be.|
|Buying Property Tips#7: Pick the Right Financing Option|
|While interests on investment property loans are tax free, some borrowing costs aren’t immediately tax deductible. Knowing that, and structuring your financing in accordance is crucial. Don’t hesitate to ask for help from a financial advisor.|
|Buying Property Tips#8: Invest through Equity|
|One of the best ways to purchase an investment property is to leverage the equity of another property (including your primary home). This is a preferable way among regular investors, especially due to added tax deduction advantages.|