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Hassle Free Rental And Property Management For Nris In Bangalore
Non-Residential Indians (NRIs) invest in different locations in India, particularly their native places and rapidly developing places like Bangalore, Pune, and Gurgaon amongst others. Property management company in Bangalore are in high demands by NRIs to manage their rental properties while they are away. Bangalore is ranked the fifth most populous Indian city and the 18th most populous city in the globe.
Indians consider assets especially property to be very important, and NRIs are no different. Many NRIs invest in property with the hope of coming back home someday and having a home of their own. Besides, the value of the real estate in Bangalore keeps rising. An investment in the real estate of Bangalore would be considered a right investment when handled by an excellent property manager. This is why the need for an excellent property management company in Bangalore cannot be overemphasized.
Non-Resident Indias interested in investing in rental properties should consider the following;
• Find out if your income can be easily repatriated after payment of rent or sale of a property to any of your NRE or NRO accounts. Peradventure you do not have any of these accounts, you must provide an account where your income can be sent to you abroad.
• Do some research to know about Double Taxation Agreement entered into by India with your country of residence. For instance, India has such an agreement with the USA, the India-US DTAA agreement which stipulates that rents from a property in another country will be taxed in the country where the property is located.
• Understand the Income Tax Act
If you own more than a single house (bought, built or inherited), the second house whether occupied or not is considered taxable. This implies that you will have to pay income tax on the second building.
• Get a good property management company
A good property manager would take you through the steps of acquiring the right property. They would offer professional advice, supervise an inspect the property, make great investments on your behalf and manage your rental property.
Property management companies in Bangalore would reduce the stress and worry you would have to face as a Non-Resident India over your property. It is their duty to ensure that the property remains in good condition, generate monthly rental income for the property owner, Inspect and if the need arises renovate the property. They will also screen tenants, pay utility bills and collect rent from the tenant. The best property management company in Bangalore would do all these and more for you. Rentpro4u is your first and last choice in property management matters.
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