ACME - Property Management

FAQ

DOES ACME ASSIST IN BUYING AND SELLING OF APARTMENTS AND VILLAS?
YES. However for Apartments / Row Houses and Villas managed or Non Managed by ACME, we will facilitate the process of selling when requested by the owner.

WILL THE FITTINGS, FIXTURES AND FURNISHING IN MY APARTMENT / ROW HOUSES & VILLA BE WELL MAINTAINED?
Fittings, Fixtures and Furnishing are prone to normal wear and tear over time due to usage. Damages, if any, are rectified and cost borne by the tenant.

HOW WILL YOU ENSURE THAT THE FLAT IS NOT DAMAGED BY TENANTS?
Yes, you can inspect your flat while it is occupied. Give us 48-hours' prior and we will check tenant availability and organize for the inspection.

WILL I BE ABLE TO INSPECT MY FLAT WHILE IT IS OCCUPIED?
We make tenants understand the importance of managing the flat by agreement and instruction. We conduct on-demand inspections to ensure that the flat is well-maintained. Despite that, if tenants cause property damage, Apart from the Normal Wear & Tear, they (Tenants) need to bear the cost of repairs.

HOW DOES ACME ENSURE THAT THE APARTMENT IS MAINTAINED WELL?
We have a specialized team of professionals who deal with repair requirements.

WHEN WILL YOU REPAINT AND OTHER REPAIRS MY HOUSE?
When taking over a flat from the owner, ACME requires that it be freshly painted. Owners can handle the painting themselves, or Opt for ACME’ s assistance. When a tenant vacates the flat, it Should be /will be repainted at the tenant's cost as per the market price.

WHAT IS THE RESPONSE TIME WHEN A COMPLAINT IS RECEIVED FROM A TENANT?
YES. We attend to service calls within 48 hours of receipt of a written complaint.

DOES ACME PAY RENTALS WHEN THE PROPERTY IS NOT RENTED OUT?
NO. We strive to keep the Apartment / Row houses & Villa occupied as much as possible throughout the year. The notice period for termination of a rental agreement is 60 Days and during this period we search for prospective clients such as to minimize vacancy days.

HOW ARE THE MONTHLY RENTALS AND SECURITY DEPOSIT AMOUNTS PAID?
All Financial transactions from the tenant are directly with the Apartment / Villa owner into his/her bank account.

IS BACKGROUND CHECK OF A PROSPECTIVE TENANT DONE?
YES. We provide necessary information to an Apartment / Row houses & Villa owner and seek approval before signing a rental agreement with a prospective tenant.

AS AN OWNER, I HAVE SPECIFIC REQUIREMENTS FOR TENANTS WHO OCCUPY MY APARTMENT / ROW HOUSES & VILLA. IS THIS CONSIDERED?
YES. We provide all necessary information to an Apartment / Row houses & Villa owner and seek approval before signing a rental agreement with a prospective tenant.

WHAT HAPPENS IF TENANTS CREATE A NUISANCE IN THE SOCIETY?
Since the owner will typically receive updates about maintenance dues from the society regularly, it is easier for the owner to pay maintenance directly to the society. Also, it is easier to manage maintenance payments when tenant changes in the mid of a quarter. So, in general, we propose that rent be inclusive of maintenance. We check the validity of complaints raised and issue a warning to tenants, for the first complaint. For repeated offences, we can ask tenants to vacate with short notice.

WHAT IS THE SCREENING PROCESS FOR A FOREIGN TENANT?
For a foreign tenant, we submit all immigration documents (VISA, passport) to the designated police station.

WILL I GET THE TENANT'S DETAILS?
Yes, you will get the tenant's official details. ACME screens tenants and their documents, and shares the report with owners. ACME will decide whether or not to rent out to a particular tenant after the ACME screening process is complete.

WILL MY FLAT BE USED FOR COMMERCIAL / SUBLET PURPOSES?
No. ACME signs only residential rental agreements. We will not allow tenants to use your property for commercial purposes nor to Sublet to the third Part/Tenants..

DOES ACME RENT OUT TO MULTIPLE PEOPLE FOR PG/SHARED ACCOMMODATION?
ACME signs a single contract with tenants for a flat. If a group of Bachelors/Spinsters want to rent, all of them sign a single agreement. We do not execute multiple agreements with multiple tenants for the same flat. We do rent out for PG accommodation or split rent between multiple tenants.

WHAT HAPPENS IF A LEGAL ISSUE ARISES, IN RELATION TO THE TENANT?
ACME 's tenant screening ensures that such situations do not arise. However, in an extremely rare scenario, if this occurs, ACME will assist the owner in legal proceedings, help in recovering rentals and support tenant eviction, at the owner's cost. ACME will not assume any liability of the legal proceedings and/or any consequential losses to the owner including rentals.

ARE ALL RECEIPTS OF EXPENSES AND ORIGINAL PROPERTY DOCUMENTATION MAINTAINED?
YES. The same is handed over to the Apartment / Row houses & Villa owner at the time of termination of contract.

WHAT ARE THE CONTENTS OF THE CONTRACT?
In essence by signing a contract for the Apartment / Row houses & Villa owner authorizes ACME to only manage and maintain the Apartment / Row houses & Villa. If you are interested in our property management services we shall assist you with further details.

WHAT IS THE TERMINATION NOTICE PERIOD OF A CONTRACT BETWEEN ACME AND APARTMENT / VILLA OWNER?
It’s vice-verse of 60 Days, since we need to serve vacancy notice to the tenant.

WHY DOES ACME NEED SALE DEED, OWNER IDENTITY AND KHATA TO MANAGE THE PROPERTY?
Copy of Sale deed is required as proof of ownership / Co-ownership for the property under management. For this reason we also need an identity proof of the owner
Copy of Khata is required, to confirm registration of property for tax purposes

AS AN APARTMENT / VILLA OWNER SETTLED ABROAD HOW WILL ACME COMMUNICATE WITH ME?
The Apartment / Villa owner is always kept up to date with matters regarding his/her Apartment / Villa via email. Document correspondences, when necessary.

WHAT IS THE CONTRACT?
In essence by signing a contract the Apartment / Villa owner authorizes ACME to only manage and maintain the apartment, villa. Row house if you are interested in our property management services.

WHAT IS THE TERMINATION NOTICE PERIOD OF A CONTRACT BETWEEN ACME AND APARTMENT / VILLA OWNER?
Termination will be of 60 Days (Two Months) will be vice versa to both ACME and to the Property owners.

DO I HAVE TO RETURN THE SECURITY DEPOSIT EVERY TIME A TENANT VACATES THE APARTMENT?
YES, you need to return the security deposit every time a tenant vacates the apartment. As long as you have a contract with ACME, Once you received the details of the refund from ACME.

HOW DOES ACME ENSURE PAYMENTS FOR ELECTRICITY BILLS?
At the time of termination of a rental agreement, all such payments to the concerned authorities are verified and meter readings noted where ever necessary. Outstanding payments are payable by the Tenant prior to termination of the agreement.

WHAT IS THE PURPOSE OF CAUTION DEPOSIT?
Caution Deposit is towards incidental expenses that may occur from time to time at your Apartment / Row houses & Villa. This amount is refundable at the time of termination of the contract with the Apartment / Villa owner.

IS THERE A SERVICE CHARGE PAYMENT WHEN THE PROPERTY IS VACANT?
NO. ACME will not charge any service charges when the property is vacant.

CAN I PAY SERVICE CHARGES TO ACME BY MEANS OF ELECTRONIC BANK TRANSFERS?
YES. You could Transfer Online to our Company Bank Account.

WHEN AND HOW ARE THE SERVICE CHARGE PAYMENTS MADE?
Service Charge payments are made for 6 months (Apr to Sept – Oct to Mar), every financial years.

HOW MUCH IS THE (GST) GOODS & SERVICE TAX TO GOVERNMENT?
GST (Goods & Service Tax) as applicable by the government authorities on Service Charges & Reimbursement to ACME. And this tax amount payable to government is 18%. For more information please visit www.gst.gov.in