M. A Muthanna is a General Manager by designation and is based in Dubai – UAE. As with many NRIs, he invested in an upscale apartment in HSR Layout and wanted to give out the space on rent.His apartment is spread over 1853 sq ft and the expected rent was around Rs 28,500 + maintenance charges. Being based in Dubai and having to rely on small time real estate agents to find a tenant turned out to be Muthanna’s worst nightmare. He was unable to verify the background of the tenant and ended up with someone who did not pay on time and for months on end.Finally, this tenant had to be evicted with the help of the police and the building association. Based on recommendations from a good friend, he then found another real estate agency that had a professional system in place to find rentals for properties and finally found the right person for his home.Finding the right kind of tenant for your home is definitely not an easy task, especially if you are based out of the country. You may look for a real estate agency or a property management company to help you with the task. These are the features to look for in such an agency:

• An agency that is well recommended by someone you know and who has used its services in the same way you plan to.
• A property manager with a good standing in the real estate field and a good network of contacts as well. Being local will help in understanding the market better.
• A proactive agency that has protocol in place on how they go about finding tenants and ensuring the rental contract is seen through to the end.
• A real estate company that has good experience on their side and at least three references from clientele who have used their services not more than a year earlier.
• An agency that has an effective communication system in place so that they are always accessible when you need them.“When NRIs look for tenants for their home, importance is given to the kind of tenant more than the monetary transaction,”says Geetha Naresh, Partner and Real Estate Consultant, Bhoomika Consultants.

How do Agencies Find a Tenant for an NRI?Muthanna says that it is always advisable to retain a professional real estate agency that will ensure all background checks are conducted and the necessary formalities completed with regard to the tenancy contract. This is recommended so that the agent may also assist with other issues like payment of house taxes, etc.Geetha Naresh explains how interiors are done keeping in mind international exposure and NRIs prefer to have tenants who are able to appreciate that. That is why agencies like hers interact with expats who are looking to rent.Finding the right tenant: “We approach relocation agents for tenants that are MNC employees or those that require company leases. Advertisements are also placed on real estate portals online and through paper advertisements. The possible tenants are screened by us and we then let the NRI owner make a choice,” explains GeethaAccurate paperwork: Once a tenant is settled on, paperwork regarding the rental agreement is the next step. Having a professional draft the agreement is a must. This must happen from the tenant’s side as well.Securing rent on time: For an NRI, a real estate consultant is the right choice to ensure collection of timely rent. Geetha says, “To ensure that the NRIs are comfortable with their tenants, we have them talk over phone, communicate via emails, etc. and familiarize themselves with each other, with actually meeting. We also facilitate a system of bank transfers. We encourage tenants to ensure that there is no default and to provide standing instructions to their bank for the transfer. We also request them to include us on bank notifications through sms/email.For an NRI looking to rent out his space in Bangalore, there are several options to ensure the process goes smoothly. Finding the right real estate consultancy is a great first step. Some of the popular property management services in the city you may contact are:

1. Realty Kart - http://www.realtykart.com/aboutus.php
2. Sangau - http://www.sangau.com/
3. PMS Bangalore - http://pmsbangalore.com/