Owner Terms : Pin Click

End To End Property Management Solution

About Pin Click

1. What is the Pin Click property management solution for Home owners?

Pin Click property management solution for homeowners is aimed at reducing hassle for homeowners in renting out their apartment. We manage the entire process from furnishing the house, finding tenants, verifying tenants, rent collection, managing tenant queries, arranging for home services like plumbers/electricians etc.

This service is especially valuable to outstation home owners or NRI’s who find it difficult to manage the apartment from far away.

All you need to do is to hand over the keys and forget about the home, except when the rent hits your account.

2. Who do you rent out the property to?

We rent out property to families as well as bachelors (under a branded PG solution called Pin Click Premium Stay). We will keep your preference in mind before renting out the property.

3. Which all cities is Pin Click present in?

Currently Pin Click Property Management solution is available only to homeowners in Bangalore.

Pin Click Property Management : The Solution

4. How do I list my house on Pin Click?

Get in touch with us by calling us on our toll free number or submitting an enquiry form on our website. Our property advisors would call you to fix an appointment and request for a visit to the property. He would explain all the features of our property management solution for homeowners.Once you are satisfied, all you need to do is sign the agreement & get the security deposit from us. You will start getting the rent as soon as the house is rented out.

5. What kind of rent can I expect on my property?

Once you agree to list your house with us, we would agree on a fair rent for the property with you based on the market rate in the location, property condition etc. This rent is typically at least 30-40% higher than the market rate, as the property is converted into single units and given to 6 individuals instead of a single family.

6. What is the solution for owners who are open to renting out their house for PG?

If you agree to rent your property out as a PG under the Pin Click Premium Stay solution – then we convert your unfurnished/ semi furnished home into a tastefully decorated home and rent it out as a shared accommodation. For e.g. a 3BHK would have 6 beds; which are rented out to 6 different tenants.

This solution allows you to earn higher yields compared to renting out to families. You might worry that the higher rent comes with the hassle of managing the tenants & also damages to the property. We understand that and therefore a key part of our solution is property management. We aim to get you higher returns without the hassles associated with it.

7. What happens if the house remains vacant and Pin Click is not able to find tenants?

We have extensive experience in marketing properties and a very wide sales network which enables us to ensure the homes are rented out. We also provide a rent guarantee for certain properties based on their location and quality of property.

8. What do you charge for the service?

We charge one month’s rent as a service fee for an 11 month lease period.

9. Can I read the rental agreement before I sign it?

Yes, you can request a copy from our sales executive who visits you.

10. How can I terminate the contract with Pin Click?

Both the owner and PinClick can terminate the contract by giving a one month notice.

Commercial terms : Rents/ Deposits

11. How much security deposit will I get?

We typically pay between 2-3 months of rent as security deposit. This may vary depending on the property location, furnishings provided etc.

12. Who pays the security deposit?

Pin Click would pay one month’s rent as security deposit to you at the time of signing the lease document. The remainder deposit is paid when the tenant moves in.

This deposit would be with you during the time the agreement is valid and you are subscribed to the Pin Click Property Management Solution.

13. Do you collect security deposit from the tenants?

Yes, we collect a slightly higher deposit from tenants. This ranges from 4-6 months depending on the location and furnishings. We collect a slightly higher amount in order to fund the upfront deposit that we pay even before tenants have been identified and also to protect you from any non-payment of rent by the tenants.

14. Who refunds the security deposit to the tenants move out?

Owners needn’t worry about the moving in/ moving out of tenants. The security deposit paid to you is from Pin Click and is credited to you at the time of signing the lease, irrespective of the tenant moving in or moving out. Pin Click will refund the security deposit to the tenants.

15. When do I have to return the security deposit?

We aim to be your exclusive property managers, so long as you want to rent the property out. In the unlikely scenario that you are not happy with our services and wish to terminate the agreement; we will expect that you refund the security deposit within 7 days from the termination of the agreement and the possession of the house being given to you.

16. When will the rent start?

We typically agree on a rent start date when we sign an agreement with the property owner. The rent starts on the rent start date or tenant move-in whichever is earlier.

17. When will the rent get credited?

The rent would get credited into your account by the 8th of every month. So for example, the rent for January would be credited into your account on or before 8h of February.

18. What deductions/ adjustments are made in the monthly rent?

We do not make any deductions in the rent, unless agreed upon beforehand with the owner. Typically two kinds of deductions are made:

Service fee as is accepted by the owner in the agreement is typically deducted from the first month’s rent and on renewal of the lease.

Repair bills paid by Pin Click which have been approved by the owner.

19. Who will pay the maintenance charges if any for the society?

We advise the owner to pay the maintenance charges directly to the society as they would get constant communication on changes/ upgrades in the society. We would sign a contract of a rent agreement which includes the maintenance charges. However, if the owner requests, we can make the payments by deducting those charges from rent.

20. What happens if the tenant does not pay the rent?

Since Pin Click collects the rent from the tenant, we will follow up with the tenant for a reasonable amount of time. If the rent is still not paid, we will ask the tenant to vacate the flat. As Pin Click would collect 2 month security deposit from the tenant, the deductions made in lieu of rent, would be passed on to the owner. We aim to act responsibly and with the same principles as the owner and therefore would take action for his own house.

Also, we sign ECS agreements with the tenants before moving in which enables us to have a smoother tenant rent collection process.

21. What agreement will you sign with me?

We sign an agreement which gives us the rental power of attorney and allows us to further lease it out to tenants on behalf of the owner. We also sign a property management agreement with the owner which covers our obligations & services and our service fee.

22. What kind of agreement do you sign with the tenants?

We sign a leave and license agreement with the tenants on behalf of the owner.

Property Management Services : Scope & Terms

23. What services are included in property management?

We provide end to end property management services to ensure that earning rental income from your flat becomes hassle free. The broad scope of our services is as follows:

Getting an apartment ready for renting as per PinClick standards

Marketing the property

Tenant acquisition and screening

Execution of lease/leave and license agreement with tenant

Collection of rent and deposit from tenant

Inspection of property whenever required or on owner's demand

Handling of tenant complaints and repair requests

Processing tenant termination and security deposit refunds

Carrying out repairs and renovation on tenant change to prepare the flat for a new tenant (at the outgoing tenant's cost)

24. What is the standard furniture that typically goes into a Pin Click home?

All Pin Click homes come with standard fixtures like kitchen cabinets, wardrobes, curtain rods, light and fan fixtures etc. are present in all the houses. We request all our owners to provide these. In addition to the above, we are open to taking up semi-furnished or fully –furnished apartments under are management as well.

Our Premium Stay homes which are PG options for bachelors are fully furnished. These homes are tastefully furnished and are ready to move in. The living room comes with sofas, center table, curtains etc. The kitchen is fully functional with a gas stove & connection, refrigerator, water purifier, utensils & cutlery. The bedroom has a bed, mattress, pillows and other soft furnishing like sheets/ curtains etc. The bathrooms are clean with geyser & basic bath utilities like buckets/mugs etc.

25. What if I do not have some of the standard furniture mentioned above?

We require that the basic fixtures like kitchen cabinets, wardrobes, curtain rods, light and fan fixtures etc are present in all the houses.

For our Premium Stay homes, we have vendors who can provide the standard loose furniture like sofas, center table, beds, mattresses etc. The owner can purchase/ lease them from our vendors or can also choose to rent an unfurnished flat to us directly. We will furnish it as per Pin Click standards.

26. Who does the repairs and who pays for them?

We have a vetted list of service providers who can handle all kinds of repairs. However, the tenants and the owners are not obligated to use their services.

When a homeowner signs an agreement with us, we vet the property as per Pin Click standards and request the owner to provide necessary repairs/ painting at the owner’s cost.

During the tenancy, the cost of the ongoing repair is borne by the tenants or the owner depending on the type of repair required in the home.

As and when the tenants vacate, we get the room/ bed/ home ready for the next tenant to move in. Any repairs required due to damages done, are borne by the outgoing tenant.

27. How will Pin Click ensure that the property is maintained well?

We conduct regular property checks. Also, since we have a vetted list of vendors, the property issues get attended to in a timely and professional manner.

28. Who takes care of home repainting from time to time?

When a homeowner signs an agreement with PinClick, we require the owners to give us a freshly painted home. Any painting requirement during the time the home is under the management of Pin Click, is done by Pin Click at the cost of the tenants.

29. Will I be able to inspect my flat while it’s occupied?

Yes absolutely. Just give us a 48 hour notice to check the tenant’s availability and we can schedule an inspection along with our property managers.

30. What happens if a tenant creates a nuisance in the society?

We speak to the tenants to ascertain the validity of the complaints and give them a notice about the complaints received. In case of repeated complaints, we give them a notice to vacate the flat.

31. Can I reject a tenant if I don’t like them?

Pin Click takes reasonable care in screening the tenants. However, we do not allow the owners to accept/ reject tenants as it would limit our ability to market the flat and ultimately give you the returns that you deserve.

32. How reliable is the tenant screening? Who is liable in case of any unexpected situation arises?

We verify tenant ID, address proof and employment status by thoroughly examining the documents submitted.

We also have a third party verification agency, which can do detailed checks if required at the owners request and at owner’s cost.

If there is any unexpected situation due to tenant screening fault, Pin Click will immediately terminate the tenant and complete all termination formalities. Pin Click will use best efforts to report any act of illegality to the appropriate forum and cooperate with any investigation.

33. Is police verification part of the tenant screening?

No, currently police verification is not part of the screening process.

34. What happens if there is a legal issue in relation to a tenant?

Our screening processes are in place to ensure that no such issues arise. However, in the unlikely scenario that an issue arises, we assist our homeowners in the legal proceedings, help in clearing dues to the extent of the deposit collected from the tenant and support in eviction process. We do not assume any liability of the legal

proceedings and/ or consequential losses to the owner including rentals.

35. What happens if I have a plumbing/electrical complaint?

We have a vetted list of vendors in each locality. The handy numbers for complaints are available in each home/ and on our app for the tenants to see. The tenants would call the vendors directly with a copy to us and make the payments directly to the vendors. The costs for ongoing repairs are typically borne by the tenants except in case of structural repairs.