Property management
Property management is for owners who are not in Lahore, or who do not want day-to-day involvement with a property they let. It covers rent collection, maintenance coordination, tenant liaison, periodic inspections and written reporting back to the owner.
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How it works
Step 1
Handover
A written record of the property's condition and contents, so there is no dispute later about what was there.
Step 2
Letting
Finding and verifying a tenant, if the property is empty. Managed properties usually start here.
Step 3
Day to day
Rent collection, tenant queries, society and utility matters, and routine repairs below the agreed spending limit are handled without troubling the owner. A repair above that limit, a tenant giving notice, a rent review or any legal matter triggers a call.
Step 4
Reporting
A quarterly inspection with a written, photographed report, plus a check against the handover record at the start and end of each tenancy. A rent statement by email every month.
What is actually managed?
Rent is collected on the due date and paid into the owner's nominated bank account, with a statement showing what came in and what was deducted. Routine maintenance, meaning anything below an agreed spending limit, is arranged directly with our contractors and reported afterwards; anything above it is quoted and approved by the owner first. The tenant contacts Glosix, not the owner, for repairs, bills, society matters and renewals. The property is inspected every quarter, and at the start and end of every tenancy against the handover record.
Just as usefully, what is not covered. A management service that is vague about its boundaries produces an argument the first time something expensive breaks.
How is the owner kept informed?
A monthly rent statement by email showing rent received, any deductions with receipts, and the balance transferred. A written inspection report with photographs after each quarterly visit. For any maintenance above the agreed limit, a quote and a request for approval before work starts, and a short note once it is done. Anything that needs a decision, such as a tenant giving notice or a rent review, comes to you as a call, not a surprise in the statement.
Who pays for repairs?
The owner pays for repairs; management covers arranging them. A float equal to one month's rent is held so that small jobs can be done without delay, and it is topped up from the next rent. Below an agreed limit, commonly around twenty-five thousand rupees per job, we proceed and report; above it, we send a quote and wait for your approval unless the fault is an emergency such as a water or electrical failure. Contractors are tradespeople we use regularly and whose work we have inspected, and they are paid from the float against an invoice that goes on your statement.
- How the fee works
- The Lahore market norm, which we follow: a percentage of the rent actually collected each month, agreed in writing before management begins, usually between five and ten percent depending on the property and what is included. Finding and verifying a tenant is charged separately at the standard letting fee of half a month's rent.
- Typical timeline
- Management can begin within a week of signing, once the handover record is made. The usual minimum term is twelve months, with one month's written notice on either side after that.
What’s included
- Rent collection
- Maintenance coordination
- Tenant liaison
- Periodic inspections
- Written owner reporting
Who this is for
- Overseas owners
- Owners with several properties
- Corporate landlords
- Owners who have inherited a property
Questions about property management
What does property management cost?
A percentage of the rent actually collected, agreed in writing before management starts; in the Lahore market this is usually between five and ten percent per month, and it is only charged when rent comes in. Finding a tenant for an empty property is charged separately at the standard letting fee of half a month's rent, because it is a separate piece of work and not every managed property needs it.
Who pays for repairs and maintenance?
The owner pays for repairs; the management fee covers arranging and supervising them. We hold a float of one month's rent so small jobs are done promptly, and top it up from the next rent collected. Below an agreed limit, commonly around twenty-five thousand rupees per job, we proceed and report; above it, we send you a quote and wait for approval, except in a genuine emergency. Contractors are tradespeople we use regularly and have inspected, paid against invoices that appear on your statement.
How often is the property inspected?
Every quarter, and additionally at the start and end of every tenancy against the handover record. After each inspection the owner receives a written report with photographs, noting the condition of the property, anything that needs attention, and whether the tenant is keeping to the agreement.
How does the rent reach me if I live abroad?
Rent is collected in rupees and transferred to the Pakistani bank account you nominate, every month, with the statement. Most overseas owners use a Roshan Digital Account, which lets the money be converted and repatriated without separate State Bank permission; the conversion rate and any bank charges are your bank's, not ours, and we do not deduct anything beyond the agreed fee and approved costs shown on the statement.
Can I end the management agreement if I want to sell?
Yes. After the usual twelve-month minimum term, either side can end the agreement with one month's written notice, and we will not hold you to management if you have decided to sell. A tenancy already in place continues under its own agreement and passes to the buyer with the property, so a tenanted sale is possible; if you want vacant possession for the sale, notice has to be given to the tenant under the rent agreement first, and we handle that. If you sell through Glosix, management simply runs until the transfer completes.