This is an annual service which will ensure that your interests as a property owner are safe guarded. Regular visits, periodic inspection and tight control will not only help strengthen the relationship with the tenant but also eliminate the chances of them turning errant. Explaining Legal Issues and Responsibilities to Tenant(s)
Periodic Property Inspection (exterior/interior)
Rent Collection and Deposit
Major Repairs and Maintenance Contracting
Inventory Check (at the time of vacating)
Utility Bill Payments
Explaining Legal Issues and Responsibilities to Tenant(s)
On your behalf, AmmuChennai 's executive will explain the legal issues and responsibilities to your tenant(s). The following items will be discussed with the tenant(s):
Rent issues - Amount of rent, payment date, escalation in rent as per contract, advance rent, TDS deductions (if any) and any other payments
Duration of lease contract
Areas of property that can be used and those that is out of bound
Regular maintenance of property interiors and exteriors.
Terms and conditions about the repairs and maintenance in the contract
Any other legal clauses in the lease contract that need to be explained
To understand the terms and conditions of your lease contract (if already existing), we would require a copy of the rental agreement with your tenant.
A periodic property inspection shall be conducted by Ammu Chennai to check the condition of the property. Such inspection would include both the interiors and exteriors of the property.
Exterior checks will be done on monthly basis by our Executive at the time of rent collection. An Interior check will be done once every quarter by a manager and the Property Inspection report would be mailed across to you.
Damages and misuse or unauthorized use of property, if any shall be handled as per the contract terms and will be reported to you.
Books of accounts will be maintained about the source and usage of funds. This will be handed over to you at the end of the financial year. TDS payment details will also be maintained and the details will be utilized at the time of filing Income Tax returns in India.
A quarterly report will be sent you on all the receipts and disbursements on your account.
Tenants can get in touch with us for all major maintenance work (they are expected to do minor work and bear the cost of consumables required for upkeep of the property). Upon request for maintenance work by tenants, a physical visit will be made to assess the work requirement within a reasonable time.
External vendors / consultants will be engaged based on the complexity of the work. Possible reasons for the repairs will be analyzed & if it was due to the tenant’s fault it will be informed to you and required action will taken as per your feedback and the terms of conditions of the contract.
Inventory checks will be made at the time of entry of the tenant into your property. If there is an existing tenant, we can conduct inventory check at the time of quarterly inspection.
A complete check of inventory will be done, when the tenant is vacating the property and a detailed list of all assets and their conditions will be made. It will be compared against the inventory list annexed to the rental agreement and appropriate suggestions will be given to you based on the terms and conditions of the rental agreement.
All the details about the utility bill payments like Property Tax, Water, Electricity, etc will be maintained in our database and a request note for the payments will be sent to you well before the final payment date. After the receipt of the payments, it will be paid to the concerned department. Receipts will be maintained in your case file and can also be sent to you on request.
Note
In case the tenant vacates during our tenant management then, the service will be put on hold until the next tenant is found. This period of hold (provided it is not more than 6 months) will be added to the validity period of the tenant management service and the service shall get extended for such time. If the period of hold exceeds 6 months, then a refund request can be given and such refund shall be handled as per our terms.