FAQFrequently Asked Questions

General
PORTIQO currently offers services across Chennai.
PORTIQO is a full-service residential brokerage that uses modern technology to get you into perfect homes at best possible price. Your PORTIQO Agent does everything a traditional agent does, but with the help of technology.
PORTIQO Agents are customer advocates, accountable for helping clients buy the right home, at best possible price. We also offer a convenient, streamlined buying process. Each PORTIQO Agent is supported by a team of real estate professionals who help with scheduling, inspections, paperwork and home loans so you get complete service from site visits to closure.
We offer residential real estate services from Start to Finish – from helping you buy a property to renting and managing the property. We offer sale services as well. In addition, we work with multiple banks to offer home loans as part of your purchase.
No. We do not offer any commercial real estate services. At this time, we are laser focused on addressing residential property needs.
Rental & Property Management
No. We do not manage partial units. An example of a partial unit would be where the owner locks out 1 out of 3 bedrooms and would like to rent it out as a 2 BHK. While we love our customers, these kinds of situations pose security risk to both tenants and owners. For that reason, we refrain from managing partial units.
Yes. We take our responsibility of keeping your home safe very seriously. Unless we have exclusive access, we will not be able to keep your home safe.
We strongly encourage you to sign up for “Peace of Mind” plan that comes with all of our management services. However, we do understand you might prefer other plans. Feel free to choose what works for you.
PORTIQO offers a web and mobile portal, through which Owners and Tenants can stay informed. Through platform and through notification mechanisms, we keep your financial accounts updated and repair requests tracked.
We need property address including community name, owner name, owner contact information and contact details of the person who can show us the unit. Once we have that, we will be able to inspect the unit and proceed further. When you are ready to hand the unit over to us for management, we would need more details. We will work with you at that stage.
No. We do not have minimum requirements. However, demand for your particular unit may depend on interior facilities etc. As a result, we may suggest few changes but the decision on what you want to add is entirely yours.
Owners need to sign Property Management Agreement, which (a) covers terms of engagement between Portiqo and the Owner and (b) authorizes Portiqo to manage rentals and to perform necessary repairs on the owner's behalf.
That depends on the plan you choose. Please refer to our Services & Pricing page for more details.
Our fee covers our services. They do not cover incidental charges such as costs of repair, actual property taxes etc.
No. We do not charge anything additional if you choose "Peace of Mind" plan. If you choose "Rent" service, we charge first month rent as our service fee.
No additional fees. When there is repair work, we do pass on those incidental charges to the owner or tenant depending on the nature of the repair. However, we do not make additional revenue by charging markup on repair work. Instead, we thrive to deliver quality work at best possible price.
We collect our service fee only when the unit is rented out. When there is repair work, we do pass on those incidental charges to the owner or tenant depending on the nature of the repair. However, we do not make additional revenue by charging markup on repair work. Instead, we thrive to deliver quality work at best possible price.
Tenant pays all utility bills including electricity, gas, and internet unless you choose otherwise.
We advertise on popular listing sites, on Portiqo.com and through our local partners.
We can generally make an estimate and make a recommendation. When listing your property, we’ll generally start at the high end of our estimated rental range and adjust downward if we’re not getting enough interest. Our team will work with you throughout the process to ensure we get the best possible price for your property.
Yes. We do negotiate rent on your behalf. Our job is to get you the best possible rent without keeping the property vacant for too long.
You, the Owner. We will present all potential tenants to you and you get to choose. We believe in giving you complete control.
We verify income and employment. In addition, we will collect and examine ID proof and address proof.
As part of the rental process, we determine appropriate security deposit in collaboration with the owner. We encourage tenants to transfer the security deposit directly to Owners account. Where that is not possible, we are happy to collect the deposit prior to move-in and deposit that amount to Owner’s bank account. We recommend that Owners keep 1 month worth of deposit with Portiqo at all times to cover incidental expenses.
Our typical rental agreement runs for 11 months from the date of move-in.
With Peace of Mind package, we will execute rental agreement with the tenant on Owner’s behalf. With Rental only package, the agreement is between the Owner and the Tenant – we facilitate the process.
In general, rent will be paid on or before the 10th day of every month. However, there may be instances where Owner and Tenant may agree to a different arrangement.
We may deduct expenses such as repair expenses and maintenance payments we made on your behalf.
We will follow up with the tenant for up to a reasonable time. If the rent is still not paid, we will serve the tenant with a notice to vacate the flat. Owner will be able to withhold unpaid rent from security deposit.
Yes. Owner will be able to inspect the flat with a reasonable notice (up to a maximum of 10 days) to the tenant.
We do everything in our power including upfront screening to avoid having to evict a tenant, but on rare occasions an eviction may be necessary. If that occurs, we will assist the owner in legal proceedings, help in recovering rentals and support tenant eviction, at the owner's cost.
When there is a repair, we first estimate the cost and urgency of such repair. If our estimate is less than two thousand rupees or if the repair is urgent to prevent further damage to the property we will inform the Owner and proceed with the repair in parallel. If our estimate is more than two thousand rupees and the repair is not urgent we will request Owner’s permission before repairing. In any case, cost of repairs is considered incidental charges and is passed to the Owner. Be assured though, that we will only work with vendors who can deliver quality service and best possible prices.
It depends on the kind of repair. If repair is a result of normal wear and tear, Owner will pay for those repairs. If repair is a result of negligence, Tenant will pay for those repairs.
Since Tenant uses the equipment, tenant is responsible for paying for maintenance. For example, Owner rents the property out with air conditioner installed in the property. Air Conditioners require annual maintenance to function properly. In this case, Tenant will be responsible for annual maintenance of the air conditioner. Portiqo can help perform maintenance through its preferred vendors.
If you chose Property Management or Peace of Mind package, you can terminate the contract by providing sufficient notice to Portiqo – typically 45 to 60 days. We need this advance notice in order to provide sufficient time for Tenant to move out and for us to complete move-out inspection. If you chose Rental package, you can terminate the contract with 10 day notice.
No – not in general. If you chose Peace of Mind package and if you want to retain the tenant that we found, we may charge 1 month rent as our service fee.
Free Property Insurance
We understand that vacant homes are a cause of concern. While we do ensure that properties are locked and kept in safe condition, it is always better to have insurance coverage because no one stays home at night. We want to deliver peace of mind to the extent we can. That is why we insure every property that is available for rent through PORTIQO.
First, the property should be available for sale or rent through PORTIQO or its’ partner Agents. Second, there should be a written agreement between PORTIQO / Agent and the Owner stating that the Owner is availing services. Third, PORTIQO / Agent should have key to the property. It’s that simple.
Shriram General Insurance, an award winning provider, underwrites the property insurance provided by PORTIQO.
No. None. It is free to you – the Owner, Seller. PORTIQO does pay premium to cover your unit as long as we are responsible for safety of the property.
Insurance is covered as long as the unit is available for sale or rent through PORTIQO or its’ partner Agents and conditions for insurance are met (service agreement is signed and key is with PORTIQO).
Insurance covers Building up to 25L and Contents up to 5L. Covers Burglary, Standard fire and special perils. This is not a substitute for your regular home insurance and is intended for safety of the property while it is in the market.
Selling a Home
PORTIQO has deep expertise in residential real estate market, particularly in Chennai. In addition, we market your property extensively through online and offline – we also work with large network of Agents. The more we market your property, the more chances of selling your property faster. Of course, Professional service and Transparency are two pillars PORTIQO always differentiates itself on.
No. We do not need exclusivity. You can work with multiple Agents. However, we expect you to work with us exclusively with the buyer we bring in.
The price completely depends on market conditions – a pure supply, demand mechanism. We can estimate the price for you; showcase the property in best possible way and present offers to you. Best possible price for the market condition is what we thrive for. It is up to you to decide whether you want to sell property at the offer price or not.
No. Our fee is contingent upon selling the property – meaning that we only charge when we actually make the sale happen.
No. We cannot. What we can promise is best marketing efforts.
Not a problem. We care for what you care for. No obligations.
Yes. We do – subject to conditions. See ‘Free Property Insurance’ section for more details.
Buying a Home
We offer complete buying services with professional service and transparency. We can help you all the way through the process including home loans to registration.
Yes. We offer both primary sales and secondary sales (aka resale). Primary sale is when you buy a home directly from the builder and secondary sale is when you buy a home from a seller who owns it. We encourage buyers to consider both – after all, we can’t find a perfect home at best possible price without looking through all possibilities.
Buying a home is large investment. Finding a perfect home that fits your needs a lot of market knowledge. When you go to builders or owners, they are interested in selling their property. On the other hand, we are interested in serving your needs – for us, finding a perfect home at best possible price for you is utmost priority.
No. We cannot. Price depends on many factors such as supply-demand and what buyer / owner is willing to sell for. We will certainly work with you on price negotiation, will get you the best possible price – the final decision whether to buy or not is entirely yours. No obligations.
Yes and No. We do have access to market sale prices and that empowers us to get you the right advice. However, we cannot share market price data because we are bound by agreements that prevent us from sharing price data.
All of these are considered reliable but may change over time – thus may not always be accurate. That is why we make sure we get it in writing from builders / owners when you are ready to buy – written offers, documents are highly accurate and reliable.
For primary sale – we do not generally charge a fee to the buyer unless you choose a special package that we may offer from time to time. For secondary sale (aka resale), we do charge 2% of the home value as our service fee. In any case, you will be informed of our charges when you talk to us.
Absolutely! We will take you to see as many properties as you want to see. Our agents take time to get to know you and your needs, providing expert advice about the home and the neighborhood - with no pressure to buy.
No. There is no obligation. We expect you to utilize our service if you do like that particular property and want to buy it.
Our ability to help you in this case will be limited because many builders do not entertain us getting involved when you are already working directly with them.
Our ability to help you in this case will be limited because many builders do not entertain us getting involved when you are working through other Agents.
We do not share with spammers or marketers. However, we will share those with builders and / or owners as necessary to help you find the perfect home.
It is possible because we share your contact details with particular builders who we think may have right property for you. If they do contact, feel free to have a conversation and we can still help you through the process. There is no harm in hearing from the builder on why their projects may be suitable for you. Irrespective of those conversations, we will help you through until you find that perfect home.