Terms of Service

1. Agreement to Terms

By accessing or using PropThinks services, you agree to be bound by these Terms of Service. If you disagree with any part of these terms, you may not access our services.

2. Description of Services

PropThinks provides property management services including but not limited to:

• Property listing and marketing
• Tenant screening and KYC verification
• Lease agreement preparation and coordination
• Rent collection and financial management
• Property maintenance coordination
• Security deposit management

3. Property Owner Responsibilities

As a property owner using our services, you agree to:

• Provide accurate information about your property
• Maintain valid ownership or authorization to rent the property
• Ensure the property meets all applicable safety and habitability standards
• Pay agreed-upon management fees as per the service agreement
• Respond to communications within reasonable timeframes

4. Tenant Responsibilities

As a tenant using our services, you agree to:

• Provide accurate personal and financial information
• Complete KYC verification as required
• Pay rent and deposits as agreed in the lease
• Maintain the property in good condition
• Report maintenance issues promptly
• Provide proper notice before vacating

5. Fees and Payments

Our fee structure includes:

• Management Fee: 8% of monthly rent
• Tenant Finding Fee: One month's rent (one-time)
• Token Amount: 10% of monthly rent (non-refundable, adjusted against first month)
• Security Deposit: 2 months' rent (held by PropThinks)
• Late Payment Fee: 5% after 5-day grace period

6. Security Deposit

Security deposits are held by PropThinks on behalf of property owners. Upon lease termination, deposits will be refunded within 7 working days after property inspection, minus any deductions for damages or unpaid rent as permitted by law.

7. Lease Agreements

All lease agreements are coordinated by PropThinks and require physical in-person signing. Digital signatures are not accepted. PropThinks acts as an intermediary and is not a party to the lease agreement between owner and tenant.

8. Communication

PropThinks serves as the primary point of contact between property owners and tenants. Direct communication between owners and tenants is discouraged to ensure proper documentation and professional handling of all matters.

9. Maintenance and Repairs

PropThinks coordinates maintenance requests between tenants and approved vendors. Emergency repairs may be authorized by PropThinks up to reasonable limits. Major repairs require owner approval unless they pose immediate safety concerns.

10. Termination

Either party may terminate the service agreement with appropriate notice as specified in the individual service contract. Termination does not affect obligations already incurred under the agreement.

11. Limitation of Liability

PropThinks provides property management services in good faith. We are not liable for actions of tenants, property damage beyond our control, market conditions affecting rental income, or other circumstances beyond reasonable management practices.

12. Governing Law

These terms shall be governed by and construed in accordance with the laws of India, specifically applicable laws of Andhra Pradesh. Any disputes shall be resolved through appropriate legal channels in Andhra Pradesh jurisdiction.

13. Changes to Terms

We reserve the right to modify these terms at any time. Continued use of our services after changes constitutes acceptance of new terms. Material changes will be communicated to users.

14. Contact Information

For questions about these Terms of Service, please contact us at:

• Email: admin@propthinks.com
• Phone: +91 8074406329