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Management of Rental Assets

Type D Assets - Real estate assets with current or future rental income

For your rental property assets like houses, flats, etc., UPM services enable you to have a hassle free management and letting experience. Our property management services deliver a quarterly report of your real estate asset from pictures to independent 3pt sales valuation.

Further, to give our clients the best value for money, the redundancy of activities is kept to a minimum. The accuracy and efficiency is achieved due to Ursqft management team’s multi decade experience in global operations consulting industry. The underlying four sections : reporting timeline, list of activities, management fees and payment options will detail out all the required information regarding this service.

If any information is unclear, please contact us at your convenience and we will get back to you promptly.

Reporting Timeline

Followed by the initial in-depth report are two quarterly reports (QR) and an in-depth half-yearly report (HR) as per the below time line. All the reports are electronic (PDF format) and delivered to your designated mailbox as per the schedule.

The first in-depth half-yearly report is combined with the initial setup to have a comprehensive view at the start of the management service. This helps both customer and UPM establish the status quo of the property and, if required, take any immediate remedial action.

List of activities

For your asset that needs to be rented out or is in between tenancies, the following activities are undertaken to help your realize the most value of your property

Tenancy Initiation Activities
Rental Valuation
  3 pt. valuation
Rental Readiness
  Electric repairs
  Plumbing repairs
  Carpentry repairs
  Painting repairs
  Other repairs
  Cleaning
Asset Marketing
Tenant profiling
Tenant viewings
Rent negotiation
Tenant verification liaising
  Employer verification
  Salary proof
  Police registration
  CIBIL report
Lease Agreement
  Drafting
  Signing
  Registration
Key Handover & Walk In
  • Supervision fees for a total work order upto Rs. 10,000 is included in the initiation fees. Any work order beyond Rs. 10,000 will invite a 20% supervision fees.
  • UPM manager will always accompany a third party workman or agent for maintenance or viewing purpose
  • UPM uses proprietary workflow for key management that includes multiple logging, random and secure processes
  • After the key handover to tenant the terms and conditions of tenancy management services shall be applicable

Tenancy management activities

The following table will give you a detailed view of the schedule of activities deemed necessary to take care of your rental asset.

Type D - Schedule of Activities
Real estate assets with current or future rental income
Activity Frequency
M Q H
Initiation and Set up (I)      
Rent      
  Collection    
  Deposit    
Asset Inspection      
  External Structure    
  Internal Structure    
  Fixtures    
  Seepage    
  Infestation    
Valuation Update      
  Rental 1 pt. valuation    
  Asset 1 pt. valuation    
  Asset 3 pt. valuation    
Other Checks      
  Utility dues check    
  Society dues check    
  Neighbourhood check    
Area Update      
  Vicinity Update    
  Regional Developmental Work    
Mail pick up and forwarding    
Pre Vacating Inspection
Annual House Tax Bill payment (I)
Supervision of up to 4 maintenance requests for work order under Rs. 2500
 
  • (I) denotes the initiation activities
  • Mail forwarding to client’s address (domestic or international) will be charged at actuals
  • Minor activities that can be carried out by internal handyman e.g. replacing bulbs, covering wires, fixing tap, etc. will not constitute maintenance activity and are provided complimentary on a monthly basis
  • Maintenance requests in addition to the four will invite a minimum supervision fees of Rs. 500 or 20% of the work order (greater of the two)
  • Any maintenance request with work order (billing) of more than Rs. 2500 will invite a supervision of 20% on the work order amount

Management Fees

 

Rented property
One time setup fees Rs. 5,000
Tenancy management fees* 10% of monthly rent pcm
 
Vacant property to be rented
One time setup fees Rs. 5,000
Tenancy initiation fees Rs. 10,000 + 15 days rent
Tenancy management fees* 10% of monthly rent pcm
 
The following additional service packages are available for furnished assets:
CheckIn report Rs. 2,500
CheckOut report Rs. 2,500
    • pcm – per calendar month
    • Additional Service Tax as applicable
    • *Tenancy management fees is not applicable for the vacant months

 

Rent Collection Options

For your ease and to fit your individual needs, you can pick any of the following payment options. Irrespective of the chosen option, UPM requires an annual contract for the services. The two options are distinct based on the rent collection and management process.

Option A

To make your life further simpler, UPM manages the rental account on your behalf. This includes tracking of monthly payments, authorizing deductions, verifying additional charges (pending utility, society dues, etc.) and managing the tenancy deposit. Since, UPM manages the account, there is no redundant communication regarding invoices, maintenance charges, etc.

      • No hassle service for client
      • Rent is paid to UPM client account
      • UPM tracks the rent for delay, underpaid, etc.
      • UPM transfers the rent after deducting service fees to the Landlord


Option B

UPM will facilitate the rent collection and deposit in client’s account. For any additional charges, UPM will invoice you separately and the work carried out after the payment is received.

      • Monthly involvement of client with payments
      • Rent is paid to landlord account
      • Landlord informs UPM of any delay, deductions, etc.
      • UPM invoices Landlord quarterly in advance for service fees

For either option, UPM recommends a reserve deposit of Rs. 5,000 (to be used for miscellaneous activities like mail forwarding, minor materials charge, etc.). This deposit reduces a lot of paper work, invoicing and redundant communications between UPM and the client.

 

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