PropUrban Forays into Property and Rental Management Services
Bangalore, July 19th, 2017: In its endeavour to become a one-stop solution for anything that is ‘Real Estate,’ PropUrban, the online-to-offline investment advisory firm, has widened its horizon by recently venturing into Property and Rental Management Services (PRMS). Under the PRMS model, the company aims to provide hassle-free property portfolio management to all discerning clients and offer end-to-end solutions including property maintenance, repair, and, last but not the least, tenant management. Alternately, we will also assist tenants in scouting for rental properties and hand-hold them through the entire move-in and documentation process.
Currently, the Indian rental residential market is pegged at$20 billion including $13.5 billion in urban areas, $0.8 billion in rural, and$5.7 billion across vacant NRI property brokerage. These numbers aregrowing at a fast pace with more and more Indians opting to rent a place ratherthan buying. As such, PropUrban plans to be a vital part of this growth storyin the rental markets.
Under PRMS, the company will assist both owners and tenantsright from scouting for the right properties / tenants to property inspectionto any repair work to signing of the rental agreement to the tenant move-inprocess. That’s not all! The company offers plethora of services post agreementclosure as well. For instance, there will be dedicated relationship managers toassist in property maintenance and keeping a vigilance on the property evenonce the tenant moves-in.
So, what sets PRMS apart from the other players in themarket?
• PropUrban pays owners the monthly rent on time, even whenthe tenant defaults. Thus, ensuring consistent cash flow.
• Owners need not sign the rent receipts.
• Security deposit is paid to the owner by PropUrban andeach time a tenant vacates the property, the owner need not return the depositas long as the contract is valid.
• We repair, paint and clean the house once tenant movesout.
• Owners are free from dealing with unprofessional plumbers,electricians and painters. PropUrban has empanelled professional and qualifiedvendors to ensure best care of properties.
Thus, through effective use of technology we plan to addressthe growing concerns in the residential rental space and provide an everlastingexperience for all tenants and owners alike through cost-effectivemeasures.
At the onset, the PRMS model is operational in Bangalorewith 250 units already on board within a fortnight of its operations. TheSilicon Valley will be followed by Pune wherein we intend to commenceoperations in the month of August 2017.
Continuing its expansion drive, the PRMS team of PropUrbanis targeting to have on board nearly 4,000 units in Bangalore, Pune, Hyderabadand Mumbai by the FY 2017-18.
Our PRMS model alone will help contribute as much as 15 percent of the total revenue target of PropUrban in the current fiscal.