Top 10 Frequently asked questions before buying a property in Bangalore

The Property Market in Bangalore is still stable in comparison to the property markets in other big cities across India such as Mumbai, Chennai, etc., these cities are the places where the prices have hiked over time and find no place for an economical budget to buy a property. 

The Online Property Management Companies are said to have an array of properties with different budgets and that makes it possible for everyone to buy a property they love under an impressive price. 

You can find great value for the residential as well as commercial properties in Bangalore. As a buyer, you must have different reasons to buy a property like, it could be for investments or you think it’s an ideal home for you to live or for business or anything for that matter. 

Buying a property involves all kinds of risks including your savings. Some buyers have reported their awful experiences after buying a property without proper discussion and research. 

A wrong decision in investing a property can totally kill your financial planning. There have been many such cases in almost all the big cities and it will continue to be so if you do not change today. Sometimes taking a wrong decision could be stopped if a Property Management Company in Bangalore is involved. A Real estate deal can involve risk, but if the time favors you and you have done enough research before buying a property, then the property must yield greater returns.

Here, if you are a buyer and you're investing in a property, it is absolutely essential that you draw down some questions to the developer or any concerned person and require satisfactory answers in return before involving in the talk of buying. 

 

There are certain things that you should know before buying a property and so you are free to ask the respective person before bringing the pen to the agreement paper. 

The questions you should ask before buying a property in Bangalore, 

1. If it’s an apartment, ask how many units have been sold?

2. Explain the cost breakdown involved in the property?

3. Are the materials used to build the property of good quality?

4. Does the location have all the essential amenities nearby?

5. What is the size of the property?

6. What would be the payment plan? 

7. If they are a reputed builder, what are their projects in the past?

8. What would be the non-builder cost?

9. Is the property free from ligation?

10. Can I see the occupancy and the completion certificate?

Either you can ask the above-mentioned questions before buying a property in Bangalore or you can employ a Property Management Company to do the proper assessment of your property. 

Some of the best places to buy a property in Bangalore:

Bangalore city has some of the hottest locations where you would be interested in buying a property. To know more about the opportunities in buying, selling, and renting of the properties, Visit the Ownerstown Platform, a Property Management application made in the interest of providing the consumers with good experience in searching for an ideal property. The application is launched by an Online Property Management Company in Bangalore, Ownerstown. 

The best locations in Bangalore to buy a great property are as follows, 

● M.G Road

● HSR Layout

● Koramangala

● Indira Nagar

● Jayanagar

● Sarjapur and much more

If it’s an apartment, ask how many units have been sold?

If you are buying a property in the apartments, you should know how many properties have been sold. If you don’t feel like asking directly about all these, you can ask them how many inquiries they receive in a day. Having a Property Management Company like Ownerstown can be really helpful since they already have all such details for you about the property that they had confirmed beforehand.

 It’s very well known that the person who’s trying to sell a property will not say the exact amount of flats that’s been sold. So it’s wiser to ask them questions like this. 

Explain the cost breakdown involved in the property?

When you are trying to buy a property in Bangalore, you can visibly see that there are various costs involved apart from the building cost. You can ask the builder about the complete breakdown of all the expenditure in the building. It will make it easier for you to calculate all the costs that are linked with the property that you are planning on buying. 

Are the materials used to build the property of good quality?

Being aware of the products used in building the property is important. So, You should discuss this with the builder before buying the property. Right from the cement quality to the paints and attachments. 

Does the location have all the essential amenities nearby?

When it comes to buying a property in Bangalore, you should know about the location first. There should be all the essential amenities near you like schools, colleges, grocery shops, hospitals, etc., You can employ a Property Management Application to seek an ideal location for you. Also, Bangalore traffic is to speak for itself.

What would be the payment plan? 

You should ask them about the plan of the payments. Some sellers have a connection with the banks to help you out financially. And you should pay the desired amount in the informed time. Else, the property will become someone else’s. It is best to take guidance from a Property Management Consultant if you are stuck somewhere in the process of the payment or happen to have some financial issues. They will help you sort it out. 

If they are a reputed builder, what are their projects in the past?

Never fail to ask for the builder’s projects in the past. This will show you how potential the builder is. 

What would be the non-builder cost?

As you know that there are taxes included apart from the builder cost, discuss the non-builder costs before buying the property. 

Is the property free from ligation?

Make sure the property is free from ligation or any other legal issues. Demand for the proofs. If you have a property Management Company, they will check for the necessary proofs here on your behalf.

Can I see the occupancy and the completion certificate?

You must see the occupancy and the completion certificate before buying the property. They play an important role in buying the property.  An occupancy certificate is provided to make sure that the property is handed without any problems to bank loans. The completion certificate is provided once the project is over and is issued by the respective Municipal authorities. 

CLOSING NOTES:

Without interrogating the builder, some customers buy the property and also lose lakhs together. So it’s very important for you as a buyer to ask questions to the seller for the necessary proofs before buying. 

Never forget to ask the seller the required questions! Employ a Property Management Company and reduce the burden on your shoulders. 

Does it make any Sense to sell a Property in these times?

It’s perfectly alright to sell a property during these unsettling times prevailing in the country. And surprisingly, experts say that it will not affect anything in case if you buy or sell a property in spite of the ongoing pandemic.

Property Management Companies by your side during these times will help you in improving the state of your business for the better either during or post the pandemic. The Property Management Consultant is an added advantage while you are trying to boost up the sales.

The unsettling times open ways for many opportunities but just that it’s a little difficult to see them when you are in much of strangulation.

Reasons why it is okay to Sell a Property during the Pandemic

Here, we will take you through the reasons why we say that selling or buying properties are completely normal and also beneficial during these unsettling times.

1. Potential Audience is easy to spot
2. No more competition
3. Virtual tours
4. Can avail the best deal
5. Low-interest rates

1. Potential Audience is easy to spot

You can easily spot your potential audience. Only the customers who already have the ready cash will look for properties to buy. The pandemic has made way for serious buyers. You spot them, you lock them with a deal.

2. No more competition

When your competitors are in a mute mode, it is the best time to show your presence. It attracts the buyers to check you out.

3. Virtual tours

Since it is not safe to travel, doing virtual tours is one great thing to employ.

Did you know? There are online auctions happening everywhere. Should I say that the new era for the real estate sector is born? And in this new era, Property Management Applications acts as a platform to help the real estate owners market their properties to a larger set of audience. since managing your property virtually with the help of the Property Management Application is going to be the new normal, kick start it now!

4. Can avail the best deal

This is one of the best times you can seal the deal for the properties you have been looking for a long time. There is only one market where you can sell a property and buy the properties and this situation makes it easier for you to bargain and get the best price. With Property Management Companies on your side, you can crack the deal at the best price possible.

5. Low-interest rates

The Interest rates are relatively low. The buyers out there would want to get the deal in the lowest rates possible and right now they could be looking at your property.

The sales have dropped to a greater level but haven’t stopped completely.  You just need to employ new techniques the situation demands you right now. At this time having a Property Management Consultant will benefit you the most, by keeping the current pandemic situation in mind to boost sales.

Truth be told, the situation as you see is definitely not favorable for the people who sell the property however, with little innovation and a different approach, you can still keep the graph going.

What are the factors you should keep in mind before selling a property?

If you are planning to sell a property, it may not be the right time. But if you still want to make a sale, the best approach will be contacting a Property Management Company to help you with sell a property.

Either that or you can take your property online by the use of the Property Management Applications available.

With the outbreak putting many people at home, you need to employ techniques that ease the pressure of the customers buying a property.

Factors to keep in mind before selling a Property:

You will be expected to undergo research before selling a property, factors to check would be,

1. Do not overprice
2. Enable access to the virtual tours of the property
3. Assess the customer
4. Conduct Property Inspections
5. First Impression counts
6. Do you have access to a Property Management Consultant?

These are some of the factors you should keep in mind before selling a property to a customer. We will brief you on the above-mentioned factors to help you understand better.

1. Do not overprice

This is one of the most unsettling times we must have ever faced. So be considerate of your customers. Never overprice the property and take advantage of the situation of your customer.

2. Enable access to the virtual tours of the property

While you can’t organize a direct visit to the property. You can offer your customers a virtual tour of your property. You can upload videos of the property and can involve 3d to have a better look at your property. In this stage, you can leave this work to a Property Management Company, they will manage the customers and provide the customers with the required details and seal this deal for you.

3. Assess the customer

Before all this, you should assess your customer if they already have the finances ready.

4. Conduct Property Inspections

You should conduct property inspections where a property inspector will check for the quality of the property, the property’s interiors, plumbing, paint, textures, etc., and provide a written report. This is a very important step if you are selling a property and if permitted a property management company can do all that for you, and you will not even have to step out of your house and worry about anything.

5. First Impression counts

The first impression is all that matters. Make sure to impress your customers the moment they see your property. Paint it. Do interiors. Keep many open areas like gardens and balconies.

6. Do you have access to a Property Management Consultant?

A very important part. If you already have teamed up with a Property Management Company or a Property Management Consultant it is fine.

But if you haven’t yet, please rope a Property Management Company as the acting owner or agent for your property.

CLOSING POINTS:

While it’s still not safe to sell a property, you can employ Property Management Applications to get your property the desired exposure online.

There are some reputed online Property Management Companies in Bangalore such as Ownerstown who are in the business of real estate for a really long time. These Property Management Portals will help you with the two-way service.

“Check Ownerstown/Property Management company today to have one less thing to worry about.”

How to Have a Fantastic Property Management During Covid-19 Pandemic

The COVID-19 pandemic has put a halt to normal life, disturbing the way we used to live, and the way we conduct our businesses. These times are challenging particularly for landlords who are moving heaven and Earth to keep their properties and tenants safe from the virus. Many businesses have either temporarily shut down or have gone online to curb the spread of the virus. Important life events have been postponed and the entire world has come to a standstill.

The insufficiency in operations hasn't however stopped for landlords as their properties will need plenty of assistance from maintenance to repairs and regular housekeeping. Property management, on its own, has become a daunting task. At OwnersTown, we've come up with several Property Management tips that can help you manage your rental properties effectively as the COVID-19 rages on.

Tips To Be Better At Property Management During The COVID-19 Crisis

Communicate Virtually

It is necessary to practice social distancing to prevent infection and this makes tenant communication difficult. You will need to cut down on physical interactions with your tenants and switch to virtual interactions. Depend on phone calls and messaging platforms to converse with your tenants and if necessary, use video calls. If you need to address more than one tenant, think of a Smart Property Management Application that can help you to contact everyone simultaneously.

The popular blog, Psychology Today, states that video calling could be comforting to your tenants as they will get to see a familiar face and also that it’s more effective than voice calls, especially if you have older tenants. So, look into Zoom Duo, FaceTime, or even WhatsApp and connect with your tenants over video calls to address them of any updates or to simply check in on them.

Try Virtual Building Inspections

If you have an inspection coming up or if one of your tenants raises a maintenance ticket that will need an inspection, consider doing a virtual inspection. Firstly, ask your tenants to send photos via WhatsApp or email so that you can share it with your contractor. 

If you feel closer, real-time inspection is needed, use Zoom or Google Duo to organize a video call so that your tenants can show the affected or unaffected areas for you and your contractor to observe. With video calling, your contractor can also enquirer about things that may arise during the inspection. 

Show Mutual Understanding in Rent Collections

A majority of tenants – in most cities and towns - still pay rent by cash. This entails physical collection of rent which you must at all costs avoid. Suggest your tenants move to a digital form of payment to prevent both of you from getting sick. Be it internet banking or digital wallets, the options to pay rent are endless. Ask your tenant to transfer their monthly rent via net banking or popular digital wallets such as PayTM or Google Pay or PhonePe to your preferred bank account. 

If your tenant is employed, ask them about the current situation of their salary. A good number of companies have either terminated or furloughed non-essential employees and cut salaries for the rest. So, if your tenant has had a pay cut or been furloughed or terminated, it will be difficult for them to pay the rent as they normally would.

If a tenant is unable to pay the rent, discuss the situation with them and offer a discounted rent or think about a more flexible payment option. But, remember to not step in blindly as some tenants may make use of your good nature. Always insist on documentation that shows that they are receiving a pay cut or have been terminated. This way, you can help the ones who are really in need. Come up with a payment plan and agreement that your tenant can adhere to and enforce it until the pandemic has ended and their financial situation has improved.

Avoid Major Maintenance Works

Handling maintenance and service requests at your rentals will be near to impossible given the enforced policies of isolation and social distancing. Arranging for a service vendor comes with more caution as you have to ensure that the vendor is in good health, is wearing protective gear and, has all the required equipment and material so as to prevent visits to the hardware store while working in your rental property.

Get in touch with your contractors and ensure that their professionals are being tested daily and that they are in good health and have protective gear such as masks and gloves. With OwnersTown, you can find the right vendor from your mobile itself. Get a verified vendor with the best deal at any location.

You should also inform your tenants that there will be a delay in handling maintenance tasks as you need to handle only the essential tasks first. Paint jobs or renovations can be pushed to a date after the epidemic has ended while emergency tasks such as plumbing or electrical work can be done now.

Remember to practice empathy while communicating with your tenants on the postponement of the maintenance work. Your main goal is to keep your properties running smoothly. So, choose only the important tasks to work on and keep the rest in a backlog that you can get to when the lockdowns have been lifted and the pandemic has ended.

Close Down Common Area Amenities And Sanitize

Swimming pools, gyms, pantries, cafes, and other common areas need to be shut down to prevent the spread of the virus throughout your properties. Sanitize other common spaces that are a necessity, such as lobbies, stairwells, and elevators. Have a maintenance staff disinfect your properties daily and ensure that they are in good health and are wearing the right gear. Keep a copy of the WHO guidelines on how to use and dispose of the masks and gloves and ensure that they are done properly.

Conclusion

The pandemic has created both the worst and the best time for you as a landlord. Your actions and decisions during this time will determine your personality as either a helpful and smart landlord or an absentee landlord. It’s essential to keep all of your rental properties and your tenants in safe hands. Remember that even if one infected person enters your property, the whole building will have to be shut down and the tenants quarantined until it’s determined by medical professionals to be safe again.

By letting your tenants understand that you are there for them, you will create a better relationship with them and emerge from this situation stronger than before.

Stay Home Stay Safe!

Effective Ways to Maintain Your Property While Social Distancing With Owners Town

Quarantine, lockdown, stay-at-home, and social distancing have become synonymous with our everyday lives because of the notorious Covid-19 that is spreading into the world like wildfire. Social distancing has become a major desperate measure during this desperate time. More and more awareness is being raised on how staying-at-home can curb down Coronavirus.

It is without a doubt that the economy has taken a huge toll amidst the lockdown. The government has stated that turning to technology is the best way to conduct business operations from home so that social distancing can be maintained effectively. While pondering on the different markets being affected in this pandemic, real estate is one such arena that has taken a massive blow.

Landlords and tenants alike are trying to make amends as much as possible since the main goal is to overcome the virus together. With this regard, property owners and renters can make the best of social distancing with Owners Town. Through our state-of-the-art online services, we make sure that tenants and landlords are comfortable and hassle-free in this lockdown.

So below is a detailed nitty-gritty on how Owners Town can help property owners and renters in this unfortunate epidemic.

This is how property owners can be a pro at social distancing with Owners Town

1.Online Communication

To maintain social distancing, online communication is the best way in this present situation. With our property management solution app, you can communicate with your tenant effectively once you have the tenants on board.

With our in-app messaging feature, you can respond to the renters anytime with the OwnersTown dashboard. You can be free from the hassle of a phone call or text messages where you can manage more than one tenant with ease. The renters can also easily express their issues and concern amidst the lockdown with the in-app messaging feature. After all, it is all about being there for each other yet apart in this pandemic.

Features of tenant communication app

• Notifications: With the property specific notifications, easy communications can be done where the owner and the renter can share information and news without any delays. Our platform provides in-app notification and system and user-generated messages so the communication is streamlined.

• Email: With regards to any tenant updates or email/phone verification, both tenants and owners will receive notifications simultaneously.

2. Catching up on document work

Pre-lockdown, you, as a property owner might have had more on your plate or you must have been wearing a lot of hats to not catch up on your property document work. But these stay-at-home days are perfect to pull up your socks and get on the piled up work. With the Owners Town application, you can sort all your documents in one place. You can have easy access to all your paperwork and take a quick preview where you will not have to open up each and every document. And without outgoing anywhere you can easily share your tenant-specific document in a click.

Features of our document management portal include:

• Drag and Drop: With our application, uploading documents has never been easier where it can be done in just 2 simple steps. All you have to do is drag and drop documents and name them
• Quick and easy sharing: With our portal, sharing can be done in a jiffy. You can download the document from anyplace since you have the amenity of property-wise access. Through the Owners Town portal, sharing of the document becomes convenient.

• Security: Property documents are important where their security is a major concern. With the help of our secure cloud repository, property owners can not only upload but also manage and share documents online in a safe and secure way. You will have full access to your documents where it is protected through encryption and the documents will not be shared without the owner’s permission.

3. Helping you prepare for the future

A lot of notions are being conveyed by the real-estate experts about the market and how the economy will be affected post-lockdown. Many people have opined that India might see a similar trend like China where the residential sector might take priority since office and retail projects might take some time to emerge from the stand-still. Having said all this, it is always better to prepare rather than regretting in the future. Property owners can be better at social distancing with Owners Town because through our advanced reporting feature, you can use the best of analytics to gain insight into the present situation and have an idea of the probability of the future.

The features of our custom advanced reports include:

• Rent reports: With the rent report feature, monthly comparisons can be made about your property or tenant where you can know which of your property has performed well and which has not. With this insight, you can prepare yourself post-lockdown.
• Keeping a tab on expenses: With the help of the maintenance report, you can know your maintenance expenses on any desired period so that you can manage your monetary expenses accordingly. Since everyone is trying to put as much halt as possible on their expenses, this specific feature can avail a lot of property owners effectively.
• Detailed analysis: In order to gain a vehement insight on tenant overturn or expenses, you can create an advanced report by providing adequate information. All it takes is just two steps, i.e. selecting a basic detail for the report and then running a report. You can have the analytics at hand and prepare yourself for the future vehemently.

This is indeed a difficult time for everyone but by using the time productively, property owners can be a smart owner while maintaining effective social distancing with Owners Town.

All You Need to Know About Shriram Luxor Bangalore

Shriram Properties & its Journey:

Shriram Properties is one of the leading Real Estate development companies in South India, Shriram Properties predominantly focuses on the mid-sized and quite economical housing categories. Shriram Properties is one of the five largest residential real estate companies in South India, especially in Bangalore and Chennai concerning the number of aggregate units. They provide premium and luxury housing, commercial and office space category as well as plotted development category. You can also contact them through a property Management Company, they make the whole process simple and easy for you!

They are a Real Estate Business group with four decades of operating history and a prominent brand in the retail financial services sector and numerous other industries. Shriram Group always provides us with benefits and will continue to benefit, buyers who prefer houses, people who invest in Financial terms, landowners, development Associates, contractors, and other Collaborators have in the Brand Shriram and its operational history.

Shriram Properties has started it’s operations in Bangalore in the year 2000 and, they have expanded its ventures to other cities like Chennai, Coimbatore, and Visakhapatnam in South India. Also, they are in Kolkata as in East India, where they are developing multiple projects. Bangalore and Chennai continue to remain as their main markets. Both the cities have two large residential housing community in India with an approximate 31.24% launches and 34.22% sold inventory in India’s top seven cities (Chennai, Mumbai, Delhi, Bangalore, Pune, Hyderabad, and Kolkata). If you want to buy/invest in Shriram properties in any of these locations, you can simply call the best property management company in town for help!

They have nearly completed 25 projects, amounting to 12.86 million square feet of merchandisable Area, out of which our 20 projects in the cities of Bengaluru and Chennai accounted for 87.69% of our Merchandisable Area.

All about Shriram Luxor, Bangalore:

Shriram Luxor is a new residential Apartment project launched in Hennur Road, Bangalore by Shriram Properties. The residential archipelago features the best in luxury living feeling of Shriram Properties. Shriram Luxor offers spacious Apartments with opulent features. The landscapes all around Shriram Luxor make it more appealing and rich at the same time. Shriram Builders has brought this project to Hennur assuring the best quality living to the community of Hennur Road, Chikkagubbi, North Bangalore with aesthetic architecture and quality lifestyle in Shriram Luxor. Shriram Luxor’s Location has an excellent commute & it is located at the core of Hennur Road. You can also contact Property Management Consultants through Property Management Portal/App, through which you can access them easily.

Shriram Luxor is located very near a $100 billion investment zone in North Bengaluru.  The North Bengaluru which is going to be the upcoming secondary Business sector of Bengaluru. The Thanisandra- Hennur Road stretch is referred by Knight Frank as the 7th highest future apprehensive location in India. With Approx 3000 acres of KIADB, Baglur is actually developed for IT, hardware and aerospace sectors. Some of the Companies like Shell, Cellcom, Wipro, Thyssenkrupp, Amada, Tyco Electronics, StarragHeckert are currently operating here. The aerospace park in North Bangalore is planned to spawn around 2.5 lakh employment opportunities in KIADB. A magnanimous 12,000 acre IT investment Region and some of the top MNCs like TCS, Wipro are proposed in the area. It is just minutes away from the proposed Metro Phase 2 in Nagwara-KIAL Line. There are a lot of Best Property Management Consultants in India who help you with choosing the right property for you. Buying a flat is indeed a big deal, they give some expert advice.

Shriram Luxor Apartments is spread up to 3.5 Acres of Greenery in a 4.6 Acre land. It is an IGBC Gold pre-certified to increase energy efficiency and sustainability. Shriram Luxor has less than 450 units but it ensures its exclusivity and sustainability of the project. You can also utilize their Club Terrace Party Deck to organize your private parties. It has a grand clubhouse spread over more than 22,000 sq.ft in 26,000 sq.ft area of land. At Shriram Luxor, Each tower has its own courtyard garden. There will at least be 2 balconies in most of the apartments. Some of the important decisions like buying an apartment should be checked at least a hundred times before coming to a conclusion, the Property Management Companies will take care of them, all you need to do is, trust them and handover this stress to them!

Shriram Luxor Apartments has 8 Blocks, 13 Floors, and a Ground Floor. They provide  2BHK, 2.5BHK, 3BHK flats. The substructure of the apartments is Isolated and the superstructure has complete RCC & Slab system. The external, Internal, Lifts and staircase has RCC Walls. The flooring of Foyer, Living, Dining & Bedrooms are done with superior quality vitrified tiles. The flooring of the master bedrooms has laminated wooden flooring. The kitchen flooring is done with super quality matte finished vitrified tiles. The toilet and balcony flooring is done with superior quality anti-skid ceramic. In Shriram Luxor Apartments, the 2BHK flat is 1195 sq.ft, the 2.5BHK flat is 1400 sq.ft & 1440 sq.ft, the 3BHK flats in 1550 sq.ft & 1590 sq.ft. You can also access a property Management Company as per your wish through Property Management Portal/App at your comfort.

The doors and shutters of the apartments are done with Teak wood frame with Factory made BST Shutter, ornamental beading, Polishing, and wood composite doors with Video Door Phone in the entrance. The windows and french doors are installed with UPVC bug mesh. The staircase and balcony are given MS Railings and utility is given MS powder coated railings.

The internal painting is done with Plastic Emulsion for walls and OBD for ceilings. The external and fabrication are painted with texture paint and synthetic enamel respectively. The kitchen and utility are given SS Double bowl with Single drainboard and SS Single bowl without drainboard respectively. The fittings and fixtures are done with Standard C.P Fittings. The bath mixer is done with a Single level diverter. The sink has Long body/Angularcock for Aquaguard. The shower area has a glass partition. The facilities in Shriram Luxor include 100% DG Backup for common areas like lifts, Corridors, pumps, gates, and STP as per standard norms, Organic waste converter as per standard norms. Solar water heater, Rain Water harvesting as per standard norms, water softening plants if required, lifts and intercom in all the flats, fire fighting systems as per standard norms, and CCTV in the common areas and lobbies in the ground floor. If you deal with a property management company in order to buy flats, they will make sure to check on everything that needs to be done!

Shriram Luxor presents us some of the interesting amenities like, 

●       Children’s play area,

●       Landscape garden area,

●       Clubhouse

●       Well-equipped gymnasium

●       Library, provision for creche

●       Wifi connectivity

●       CCTV at the main entrance

●       Provision for convenience store

●       Tennis court, table tennis & pool table,

●       Recreation center with chess, carrom & cards room

●       Indoor badminton court

●       Multipurpose hall

●       Split health club with steam, sauna & meditation space

●       Aerobics & billiards

●       Swimming pool

●       Basketball post

Civic Amenities are still under development in Shriram Luxor Apartments!

SUMMARY:

These are some of the things that you need to know about Shriram Luxor! When you plan to buy/invest your money in flats, right away contact ownerstown! They are one of the best property Management Companies in Bangalore.