Q. Does your service cater to any time repairs for the tenant? Do you undertake repairs / renovation work on behalf of the landlord if requested for?

• Ans. No, our tenant package does not include any time repair services for the tenant. Minor repairs and fixes are part of the tenant's responsibility as per most lease agreements in India. In the event this has to be handled as well, it shall be taken up separately through an empanelled vendor of Residenza  at extra costs.
  
  Major repairs and renovation that shall affect the building structure unless specifically caused by negligence / misuse by the tenant, usually come under the landlord's responsibility. If a major repair / renovation request is given by a tenant or if assessed independently by us, the same shall be intimated to you. If you choose to use our services for repairs / renovation or even for just supervising the work you can request for an estimate. We will liaise with our vendors / estimate the effort and give you a quote. Once you accept the quote and upon receipt of payment we will proceed with the requested work after informing the tenant. Updates and monitoring reports as may be agreed upon shall be given from time to time till completion of work. An assessment on work completion will be done by qualified personnel

Q. How can I be sure that an estimate for repairs given by your executive is accurate and as per market standards? Who verifies whether the estimate is correct?

• Ans.We will provide an estimate/ quote from a minimum of 2 reputed vendors who are empanelled with us and the same is forwarded for your approval. We have qualified personnel at every branch who have experience with repairs / renovation and maintenance activities who can assess whether a quote is accurate and reflective of actual costs. However if it is difficult to assess exact cost of repairs for some works due to adverse local conditions / wear and tear of parts and associated structures on which the repair is to be undertaken, the possibility of variation will be informed in advance to the client. In all such circumstances the client shall bear the additional cost (if any) on completion of the work. Non receipt of payment for a period of 30 days shall lead to cessation of service and initiation of recovery proceedings against the owner

Q. How do you assess completion of work and send me proof of it when an approved repair or renovation is actually completed?

• Ans.Whenever an approved repair or renovation work is completed through us, qualified personnel from our company shall make a visit to assess it and shall certify the work completion. The bill for the work done, the assessment report and the tenant feedback report along with pictures (wherever required) shall be sent across as proof of completion of the assigned work.

Q. Who will keep track of lease agreement expiry date, rental hike applicability etc. and implement it? Does your responsibility stop with informing the client about it or would you actually implement it?

• Ans.Our service includes keeping track of lease agreement expiry dates and rental hike applicability. We shall intimate you about such important items well in advance so that you can take timely action on it. If required, we can also undertake drafting of the lease agreement, getting it signed by tenants and sending it back to you at minimal extra costs. In case of any rental hike as per lease agreement, the tenants shall be informed in advance and if there is any disagreement the issue is put across to the landlord immediately. We act as a facilitator to solve these issues in a quick and fruitful manner and advise you on the pros and cons of any action

Q. What is the kind of book keeping you do on behalf of clients and how will it help me at the time of filing taxes or for general reconciliation?

• Ans.We maintain and provide the following information:

  l	Record of all income and expenses on the leased out property
  l	Providing fully itemized monthly reports and year ending accounts statements
  l	Facilitate a bank reconciliation to ensure complete transaction data integrity
  l	Keep a copy of the necessary property papers for payment of property taxes and filing returns.

Q. What will be the procedure followed by you in the event of rental default by tenant? What is your liability in such a situation?

• Ans.We take due care and attention to see that your tenant(s) pay on time. There could be certain situations where the rental default or delay is not intentional but could be due to a technical difficulty or a temporary problem for the tenant. In all such situations, we will be in a better position to ascertain if the tenant needs to be let off with a warning or if the matter needs a major escalation. Our clearly defined procedures for rental delays and defaults are explained to the tenant right upfront. If there is a cheque bounce for 2 times we shall issue a termination notice on behalf of the owner.
  
  However we do not guarantee rental collection and cannot take any liability for a bad tenant. We shall strictly follow the procedures laid out for such situations. In the event of a major problem with a tenant, our legal team shall be at hand to assist you to get the tenant vacated through legal means. Costs of such eviction handling shall be extra.

Q. How will you handle tenant eviction if a tenant goes bad and refuses to vacate?

• Ans.If a tenant refuses to move out after being served a due termination notice as per the lease agreement terms, we will seek your approval and file an eviction lawsuit on behalf of you. In most situations, when the tenant realizes that we mean business they will be willing to go for a negotiated settlement and vacate peacefully. If not, we will leave it to our legal counsel to obtain the court order directing the tenant to leave and local law enforcement agencies will be pressed into service if the tenant does not co-operate. Legal costs of tenant eviction are separate and it shall be estimated depending on complexity, location and the lease terms

Q. Are bill and tax payments errands part of the package? What happens if I fail to send you the money on time?

• Ans.Bill and tax payment errands are part of the package.Bill and tax payment will be made only on receipt of the amount received from your end. However as a value added service we do remind all our customers via email about all such important items.

Q. Do you take responsibility for the quality of work undertaken by your empanelled vendors? What happens if a job done by your vendor goes bad and I need to shell out additional money to replace the equipment/fixture?

• Ans.Yes, we take due care to always undertake the work through experienced vendors and pay special attention to monitor their work properly. In the event, you choose to use the services of any vendor or an empanelled vendor with Residenza without supervision from our side then we shall not take any responsibility for the quality of work. In the event you choose to use our services of supervision along with the repairs then qualified personnel from our company shall certify the work on completion. Feedback on the quality of work done shall also be obtained from the tenant. If minor flaws are noticed in the work then we shall get the vendor to rework and complete the job to satisfaction. If major flaws are noticed we shall take action against the vendor and withhold payments and take corrective measures through a different vendor.

Q. What is Property Evaluation Report & how it's useful in finding a tenant?

• Ans.A property evaluation report will be prepared after a visit to your property. This report will contain the details about the condition of the property, pros and cons and its rental value according to prevailing market conditions. Based on your feedback, we will initiate the process of finding the prospective tenants. This will also help us to evaluate if your rental expectations can be met or need to be adjusted according to market conditions.

Q. What is an authorization letter & why is it required?

• Ans.Authorization letter is a document which would authorize Residenza to be your rightful representative and empower us to undertake certain works / duties on behalf of the owner. This is required to handle any kind of work related to the property and will be useful incase if we come across certain objections from neighbors / relatives / association / society.

Q. Can you explain me the process of Tenant Search & Screening?

• Ans.We will search the right tenant using the below methods:

  l	Putting up a board / notice on the property premises giving Residenza contact person and phone numbers for prospective tenants to get in touch.
  l	Work with local broker network.
  l	Advertisements in leading dailies

Q. You have mentioned that you would take assistance from the local property agents in finding a suitable tenant? Who will pay the agent's commission?

• Ans.Yes, we will also try to find prospective tenants through the local property agent network because the goal is to fix a good tenant within a reasonable time frame. You will neither be in direct touch with any of the local agents nor will you be charged any additional commission for this. Any commission payouts to local property agents who work with us will be separately dealt with and will be the sole responsibility of Residenza

Q. How would you assist me in drafting a valid rental agreement? What legal issues & responsibilities will be explained to the tenant?

• Ans.We will assist in drafting the tenant / lease agreements based on the tenancy acts of the local state government. We will also explain the legal issues and the responsibilities to the tenants. All the terms and conditions as per the agreement will be discussed with them. Some of the below items will be discussed

  l	To make timely payments of rent
  l	Proper upkeep of the property during their occupation subject to normal wear and tear
  l	Usage of the property only for the purpose for which it was let out/td>
  l	To abide by the terms specified in the lease agreement

Q. How would you conduct the inventory check at the time of occupancy and will I receive any report after the completion of inventory check inspection?

• Ans.Inventory check inspection will be conducted before the occupancy so that it can be incorporated in the rental agreement. Residenza’s executive will visit the property and will make a list of all the existing assets / inventory in the property and its condition. This will be done in presence of the tenant. On completion of the report, it will be sent to you and a copy filed with us.

Q. How would you collect the rental advance from the tenant & how would it reach to me? How would I know that the amount has been credited into my account?

• Ans.Once the agreement is signed, we will collect the rental advance either in the form of draft or cheque and will deposit it into your bank account. A scanned copy of the draft or cheque and the proof of deposit into your bank account will be sent to you. Then it will be your responsibility to check your Bank account and confirm that the amount has been credited. Complaints of non-credit after considerable time has elapsed will not be entertained.

Q. Can I modify my request on the repairs / renovation items after Residenza starts the work?

• Ans.Yes, you can modify your request provided such modification is feasible at that stage of work. If feasible, we will check with the vendor on the requested changes and will intimate you on the cost implications of the same. Modifications will be initiated only after the receipt of funds based on the revised estimate.

Q. Can you assist in drafting a sale agreement?

• Ans.Yes, Residenza can assist you in drafting a valid sale agreement and send it for your approval.

Q. What is the property assessment report & how will it affect my buying decision?

• Ans.The property assessment report is prepared after visiting a property to assess its location advantages and other associated factors like proximity to utilities, hospitals, schools, etc.
  
  This activity may also help you to discover certain local threats to the property. Our visits to the property may bring out any possible litigation issues/ problems with title and could help in the decision making process.

Q. How do I feel secure putting my property under your management and that there is no misuse of the same.

• Ans.We enter into legally enforceable contracts clearly outlining our responsibilities and duties that you have delegated to us. The contract would authorize Residenza to be your rightful representative and empower us to undertake certain works / duties on behalf of the owner. This is required to handle any kind of work related to the property and will be useful incase if we come across certain objections from neighbors / relatives / association / society.