Manage Property

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1. INTRODUCTION

Number of people have earned properties in different cities and do not have time to visit each in a year, so they need caretaker of those. Some of people working place is different location from its ancestor property. Hence this problem generate this business opportunity of property management. Now searching of those property and getting property owner trust is important factor for the survival of business. As property owner give you permission to maintain or earn money by rental service so trust plays an important factor. Hence I suggest people to continuously provide current status of owner property either by photo, video, current status of any constructive work, maintain other similar property, etc. Hence people can show their portal or portfolio to other property owner for attracting new customer. This is a profitable business with almost no cost as your local existence and promising words grow business life with yearly turnover.

2. CASE STUDY

This business has wide range of customer like people who have farm house to multistory building. Now business owner who do this kind of work are known as property caretaker where three type of earning opportunity is present:

1. # Monthly rent collection of property
2. # Yearly property maintains like repairing, plumbing, etc.
3. # Sale of property

So property owner who give authority to take decision for any of above steps are those who are in foreign countries, working in metros, old age people, family disputes, etc. some of successful people who provide these services are:

• # Local Property Broker: They maintain many of local property for rental purpose and take commission on monthly rent.
• # Builder: Some of builder provide this service as people invest in some flats or duplex but not have time to rent out there property. Builder do this service to increase their sale and attract new customers as well.
• # Theluxia: This is a webportal who takes property for management where as per owner instruction does work on it. They work for foreigner as they provide yearly tie-ups for the service.

3. MARKET PLAN

Reach some of families who are located to other places and not able to maintain the house, farm land, flat, etc. is tough task. So some of below ideas help beginner to fight with existence property manager.

1. # Present yourself as rental service provider and property broker
2. # Register yourself in some property sailing, rental site as agent.
3. # Regularly visit those sites and collect information of owner who post for flat, house, apartment for rent.
4. # Get some paid subscription from property sites to getfrequent inquiry of new customer so you can rent out your customer very quickly.
5. # Finally create a whatsapp group as a business account to keep in touch of new customer and property owner.
6. # Put a banner of your business name on the banner, so other people of same area come to know about you.
7. # Maintain a photo album of each property with your banner at your office so new property owner get impress by your work.

4. SWOT OF THIS BOOK STORE BUSINESS IDEA

i) Strength

• # Zero investment Business
• # New customer come all round the year
• # Only time need to convert opportunity into business

ii) Weakness

• # Newcomer can start this business
• # Getting trust of property owner takes time (Years)

iii) Opportunity:

• # Employee transfer from one city to other
• # Old age people
• # Plumbing, Electrician contact give side income by assigning work

iv) Threat:

• # Small mistake can break Property owner trust
• # Rental visits need time which is not paid if customer not get satisfy

5. OPERATIONAL PLAN OF RENT BUSINESS CLOTHES

• # Facilities and Space: One separate room in home or office space, showcase for keys (Just to impress customers), Banners almirah, carry Bags.
• # Equipment / Technology: Optional (Computer, printer)

6. PREPARE POLICY FOR MANAGEMENT OF PROPERTY

1. # Security Deposits for rental
2. # Discount
3. # Late submission of rent
4. # Property owner legal agreement for maintains
5. # Transparency of receiving and issue of money against any property
6. # Refund of rent or deposits
7. # Prior booking rules

7. LEGAL NEEDS:

As per Indian Norms

1. Gumasta
2. Rera Agent Registration as per States

8. FINANCIAL PLAN

Manpower Salary (Include yourself as well), Furniture, Electricity, Rent, Transport

Some of Basic question one should find before they start there work are:

1. # What type of property one can keep for the work? (Used / New)
2. # Target property owner? (Man, Women, Children, Age)
3. # Collection of money from tenant and Distribution of money for worker (Electrician, Plumber) ?
4. # Rental calculation as per type of tenant and number of days?
5. # How much money one should take as deposit against property before take care agreement? How to calculate it?
6. # How to maintain tenant and owner for not meeting each other?
7. # Online startup webportal solution?
8. # Digital marketing support of work?
9. # What to put in service to begin?

Get answer of above question from industry people of same domain by paying 6$ or 450 Rs.

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