Yes, We do periodic audits before onboarding and once in 3 to 6 months during the Tenants stay and every single time before Tenant Move in and after tenant move-out. Our Audit involves more than 50 checkpoints including Plumbing, Electrical, Carpentry, Painting Etc.
We think and act on behalf of an owner. We not only generate leads directly through our website but also constantly advertise on leading property listing websites by taking premium packages. We also currently have 200+ partner brokers who we work with to find the best tenants in the quickest possible way. This way we cover all available channels in the market. The time taken depends on market demand, type of the property and requirements of the owner.
When we onboard a rental home, we sign an MOU with the owner which mentions the services offered, agreed commercial terms etc. The rent agreement is in the name of the owner and tenant directly. We act as representative of owner when Rent agreement is signed.
Once the tenant is finalized we will send a Rent Agreement Draft with all the details to the owner for confirmation purposes. Once the agreement is finalized we send it to the tenant for confirmation. After being approved by both Parties, we either E-Sign the rent agreement or do a physical signature.
It is a two to three step process depending on the owner’s requirement.
Step 1 – KYC check along with Aadhar card, PAN card and corporate working ID card (or email from official email id) of the tenants will be checked from our side. We also perform a referral check if such need arises.
Step 2 – Optional – In addition to Step 1 we can provide the Tenant’s credit score check, any civil cases registered with any courts in India.
Step 3 – Optional – We also do police verification (extra charges) where tenant needs to visit the police station and will receive a No-Issue certificate from the Police station.
ORO is a management provider and care- taker of the property. All the deposits directly are sent to the owner. The rent is also sent to the owner but flows through a virtual account of ORO. Each flat will have its own virtual account to which the tenant pays directly and later the money gets transferred to the owner’s account. This will make it easy for us as well as the owner to track the payment. It also helps us raise alert to the tenants when the rent payment is delayed.
All the premium owners have a minimum contract of 4 years with a 2 year lock-in. After 2 years an owner can withdraw the agreement by giving a 2 month notice. For immediate exit, you will be requested to pay 2 years of the fee upfront.
The logic behind 2 years is to charge at least 15 days rent over a period of 2 years.
Regarding low rent – We are not based on brokerage model – so we don’t have incentive to get you to agree for low rent and pay brokerage. The focus of ORO is to develop deep data on ongoing rentals in the same apartment and surrounding apartments and advise on the best rents to owners.
We can offer you two things. Over several owners have signed up for our services and we can give few references. A potential reference from another NRI, or a reputed owner whose flat is onboarded with us. Our customers include VP of Broadcom, Founder of a leading International School in Bangalore, IT professionals living in USA.
Second is the profile of the founder.
Mr Vikram Reddy Kandula
https://www.linkedin.com/in/vikramreddyk/
We are asking owners to pay an average of Rs 1000 per month to have a trusted person who can be called up on for a flat of Rs 1crore value.
The concept is we want to convert brokerage industry – into a property management service. No extra cost to owner, get professional service.
Most owners we speak to feel it makes sense to pay someone over 2-3 years than at one time and get no extra service.
We also assist owners in selling the flat at the best market rate and not be misled by any opportunistic agent.
We do periodic audits once in 3 to 6 months during the Tenants stay and every single time before Tenant Move in. Our Audit involves more than 50 checkpoints including Plumbing, Electrical, Carpentry, Painting Etc.
Under the current market Circumstances, we will not be able to guarantee you the time period to find renters, But We not only use our leads but also constantly advertise on Leading Property giants like MagicBricks, 99acres etc to catch leads. Not only that, we currently have 200+ brokers coordinating with us to ensure that we find you the best Tenants quickly and hassle- free.
Once the tenant is finalized we will send a Rental Agreement Draft with all the details to the owner for confirmation purposes. Once the agreement is finalized we then will be sending it to the tenant. After being approved by both Parties, with our online E- signing process the Agreement will be thereby signed by both the parties.
It is a two to three process depending on the owner’s requirement. KYC check along with aadhar card and corporate working ID card of the tenants will be checked from our side. In addition to this we can even will help you with civil verification with police under extra charges.
All the premium owners have a minimum contract of 2 years. After 2 years them can withdraw the plan by giving a 2 month notice. For immediate exit, you will be requested to pay 2 years of the fee upfront .
Regarding low rent – We are not based on brokerage model – so we don’t have incentive to get you to agree for low rent and pay brokerage. The focus of ORO is to develop deep data on ongoing rentals in the same apartment and surrounding apartments and advise on the best rents to owners.
We follow an integrated Omni Channel Approach – We do direct marketing through all online channels such as housing, 99acres etc and also work with 100s of local agents in the area.While an owner typically know 2-3 brokers or lists on 2-3 websites.. We work with many more. We have a dedicated backend app to share all our houses with agents.Our agreement with local agents is that they can take brokerage from tenant side.We pay for premium ads on all websites with representative ads and any tenant enquiring gets to see all flats.
We can offer you two things.Over 200 owners have signed up for our services and we can give few references.A potential reference from another NRI, or a reputed owner whose flat is onboarded with us. Our customers include VP of Broadcom, Founder of a leading International School in Bangalore, IT professionals living in USA.
Second is the profile of the founders.
Mr Vikram Reddy Kandula
ORO: https://www.linkedin.com/in/vikramreddyk/
Mr Aravind Sampath
ORO: https://www.linkedin.com/in/aravindsampath/
We are asking owners to pay an average of Rs 1000 per month to have a trusted person who can be called up on for a flat of Rs 1crore value.
The concept is we want to convert brokerage industry – into a property management service. No extra cost to owner, get professional service.
Most owners we speak to feel it makes sense to pay someone over 2-3 years than at one time and get no extra service.
We also assist owners in selling the flat at the best market rate and not be misled by any opportunistic agent.
