TOP TEN CLAUSES OF OUR PROPERTY MANAGEMENT SERVICES
- TERM
The initial term of this agreement would be as mutually agreed between Owner and Investors Gurukul. In the event that either party wants to terminate the agreement during the term, he can terminate it in accordance with terms set forth in Clause 10.
- EXCLUSIVITY OF ENGAGEMENT
The Owner engages Investors Gurukul on an exclusive basis during the Term of this Agreement to provide its Services to the Scheduled Property located.
- LEASING OF SCHEDULED PROPERTY
The Owner partners with Investors Gurukul to lease the Scheduled Property as per the following process.
- Owner specifies his tenant preference & verification requirements.
- Owner specifies the monthly rent he expects from tenants.
- Owner & Investors Gurukul executes this service Agreement.
- Investors Gurukul may upload the Scheduled Property on its portal for renewal services or making reference for promotional activities without furnishing the exact location/address of Scheduled Property.
- It shows the Scheduled Property to interested tenants & if any tenant expresses interest, Investors Gurukul shall collect verification details from the tenant & submit to the Owner for approval.
- Upon approval, Investors Gurukul prepares the lease agreement between Owner & Tenant & completes other move-in formalities on behalf of owner.
- During tenancy, Investors Gurukul follows-up monthly rent collection on Owner’s behalf, if requested by Owner.
- Investors Gurukul facilitates maintenance work required at the Scheduled Property during the term of this agreement.
- SCOPE OF SERVICES
Investors Gurukul provides the Owner with services as mentioned in Annexure A of this Agreement (“Services”) to enable leasing the Scheduled Property to suitable tenants. Such Services starts from agreed date of contract (“Effective Date”).
The Owner grants full power & authority to Investors Gurukul to perform all actions necessary to discharge Services to the Owner, Scheduled Property & tenants as detailed in Annexure A. Any such actions shall be deemed ratified & approved by the Owner. Additionally, the Owner grants Investors Gurukul the right to enter the Scheduled Property at any time during the Term hereof.
- TENANT PREFERENCE & VERIFICATION
Investors Gurukul, through its renting services, collects Owner’s preference of tenants & monthly rental. Investors Gurukul shows the Scheduled Property to tenants who agree to abide by these preferences.
For verification, Investors Gurukul collects ID proof & address Proof of tenants. It also collect tenant employment proof, wherever available, & tenant permanent address details. Once a tenant expresses interest to stay in the property, all these verification details shall be submitted to the Owner for approval. The Owner can approve or reject the tenant. The tenant can move-in to the property only after Owner approval.
In case of rejection, the Owner shall specify the reason which shall be communicated to the tenant & Investors Gurukul continues showing the Scheduled Property to other prospects.
- OTHER PAYMENTS
In cases where Investors Gurukul pays money to tenant & partner vendors on behalf of the Owner for structural repair, wear & tear repair, cleaning the house at beginning of the Agreement etc, Investors Gurukul have the right to raise such money in addition to its monthly services charges. Investors Gurukul shall submit necessary bills, estimations & invoices to that effect & seek Owner’s approval over email.
- FIXTURE & FITTINGS AT THE PROPERTY
It is required that the Scheduled Property has fixture & furnishing in good working condition as detailed in Annexure B for the Scheduled Property.
Investors Gurukul provides the furnishing & fixture checklist to the Owner at start of the Agreement. This checklist shall detail furnishing (if any) as well as repair & replacement of existing fixture & fitting requirement before leasing the property to tenants. Investors Gurukul, at the Owner’s option, shall facilitate repair of fixtures and fittings at the Scheduled Property through its partner vendors.
The Owner shall have option of furnishing the Scheduled Property at his own expense or he can utilize services of furnishing rental services from Investors Gurukul, wherever possible. The charges for furnishing rental service, if utilized, shall be separate & will be in addition to the regular service charge under this Agreement as defined in Annexure A . Any furniture & fixture taken on rent & deployed at the Scheduled Property during the Term shall be returned to the vendor(s) on termination of the Agreement.
- MAINTENANCE OF THE PROPERTY & FURNISHING
In the event of any damage to the Scheduled Property & its furnishing during the term of this Agreement, it shall be borne by either the tenant or the Owner based on Annexure C that details maintenance responsibility between Owner & tenant. Either party can raise a maintenance request providing details of the issue. Investors Gurukul seeks approval of the maintenance request either from Owner or the tenant based on the provisions of Annexure C, and facilitates the maintenance work.
The Owner shall respond to any maintenance request approval within 48 hours. In case Investors Gurukul pays any maintenance charges on behalf of the Owner, such payments shall be governed under “Other Payments” section .
In case damages to the Scheduled Property or its furnishing are caused by tenants, the Owner shall be entitled to recover damage charges from the security deposit or the bank guarantee whichever is applicable.
- INVESTORS GURUKUL CHARGES
In lieu of its Services, Investors Gurukul’s service Charges are described in Annexure A of this Agreement.
The Owner shall be responsible for paying Investors Gurukul all the Charges subject to the terms and conditions contained therein. Any services that are not mentioned in Annexure A shall not be deemed to be included & charges for such services will be separate and if provided, the Owner shall pay for it separately.
- TERMINATION
In the event the Services are not provided by Investors Gurukul, Owner shall be entitled to terminate the Agreement after giving one (1) month written notice to rectify the breach.
Still if unsatisfied with the Investors Gurukul’s services, owner can opt for termination of this contract within 90 days from the agreement start date. Owner will be entitled for the complete refund of the payments made till date for the services.
You can download all the Annexures from our website.
