Property Management is the operation of residential, industrial and commercial real estate, which is much close to the role of management in any business. It also involves management of physical and tooling capital assets, equipment and personal property that are purchased and used for maintaining, repairing and building end-item deliverables. It involves the manpower, systems and processes required for managing the lifecycle of all properties purchased as mentioned earlier inclusive of disposition, utilization, maintenance, responsibility, accountability, control and acquisition.

Role of property management companies in India:

The role of property management companies in India cannot be undermined irrespective of whether they manage rental, commercial or residential property. These companies are professionals in assisting individuals in meeting their real estate requirements. Property management companies offer varied services and there are companies that offer wide spectrum of services, while some companies offer some specified services like commercial, residential and rental property management alone. In India, most of the top cities have property management companies and some small cities might not have property management firms. However, the current trend shows that soon every city in India will have their own property management firm.

A crucial factor that has contributed towards the boom of property management in India is the development of real estate sector in the nation. Since the number of rental, retail, commercial and residential property is growing, it has resulted in the improving demand for property managers. There are top property management companies in India and the names and details of these companies are given below:

• Knight Frank India Private Limited

• Jones Lang LaSalle India

• Glisters International

• EWDPL India Private Limited

• Dhamu and Company

Knight Frank India Private Limited:

Knight Frank stands for the highest standards of integrity and quality in global property advisory, management, transactional services. They are offering wide range of services like capital transactions, hospitality & leisure, land, commercial, residential and of course property management services. Their Property management services include facilities management and project management and they have branches in different cities like Delhi, Pune, Hyderabad, Chennai, Bangalore and Mumbai.

Jones Lang LaSalle India:

Jones Lang LaSalle is operating with its head office in the city of Gurgaon and their rigorous and innovative commercial property management strategies has enabled their customers to reduce the operating cost and improve the value of their property. They have expertise in the field of tenant satisfaction due to the best property management services offered by them.

Glisters International:

Glisters International is operating from the city of Mumbai and they are dealing with corporates, lending institutions and investors around the globe. The company is committed to offer real estate investment services to all. They are offering services to locate real estate opportunities that enable the investors to have the right to create wealth by investment in site selection, franchise, land development, property management, income investments, industrial investments, commercial and residential investment.

EWDPL India Private Limited:

EWDPL stands for Entertainment World Developers and they are operating from their corporate office in the city of Indore. The company is operating with the mission statement of redefining real estate. They are offering the best property management service and they also help the society by recruiting professionals frequently.

Dhamu and Company:

This company is operating from the city of Jaipur in the Indian state of Rajasthan and they are professionals in the real estate field with operating with the objective of offering precise and customized real estate advice. They are offering real estate advice to corporate, multinational and national companies, property developers and foreign investors in making the right investment in the sector of real estate in India.

Thus, property management companies play a crucial role in the effective maintenance of properties.