Category: Property Management

Property Buyers

KNOW YOUR PROPERTY BUYERS WELL:

Being a home owner, it is your right as well as privilege to know your property buyers credentials beforehand itself. A reliable property buyer will ensure a smooth and transparent sale. While it is important that both sides are mutually aware of the property sale in question, you need to share mandatory information with your house buyers and keep all communication channels open and flowing for a step-by-step, peaceful and amicable transaction.

EDUCATE YOURSELF ABOUT YOUR OWN PROPERTY:

Before initiating a sale and reaching out to property buyers, it is important to keep yourself up-to-date regarding all matters pertaining to your property. Any house buyer will want to know that you have all of the relevant papers and supporting documents for your property. Therefore, it is pertinent to keep accurate records of all papers and supporting documents in a neat and organised manner for your property sale to go in a smooth and hassle-free way.

DO A COMPLETE LOCATION RECCE:

There are many reasons why you should insist on a location check along with property buyers beforehand. A professional house buyer helps you to gauge the true potential of your sale, thereby quoting the right …

Maintain Your Summer Property

  1. Take some time to pull up a ladder and reach into those lovely gutters on the side of your home. Often times, leaves, water from rainfall, and occasionally your kid’s toys can be found clogging these valuable fixtures and building a stench right by a walkway or entrance to your home. It’s really not that hard to clean and it can be done easily with your hose. Men, this is a great thing to do for your wives to get yourself out of the doghouse.
  2. No matter what your home is made of, whether it is brick, stucco, concrete, panelled siding, stone, wood, it probably sits under the hot sun all day. Guess what, it should be hydrated, soaked and washed (just like humans, in case you were wondering). Don’t be afraid to take soap to the side of your home to whiten the foundation. This is a perfect opportunity to check for cracking and make sure the foundation is solid.
  3. Don’t be afraid to start (and finish) big projects. This means you should not be afraid to re-shingle, paint the house inside and out, possibly construct a water feature or improve a fence. Summer is great, because it’s more

Essential Rental Property Forms

  • APPLICATION FORM – This is the first form that a prospective tenant will fill out for you during the first meeting if they are interested in renting from you. It covers the personal information of all the people that will be living there including their employment history, credit information and rental history. The best part of the application form is that it allows you to do a credit and criminal background check of a prospective tenant.
  • INSPECTION REPORT – This is filled out before the tenant moves anything into your dwelling and again when they are ready to move out before you return their security deposit. There is a checklist for each room and describes the condition of each item on the list. I always back this form up with dated photos of the property and have the tenant sign both.
  • TENANT LEASE AGREEMENT – This is the meat and potatoes of all rental property forms. It outlines the rent, security deposit, length of stay and also lays out all the rules and regulations of living in your property. You can start out with a generic form which can be changed and revised to suit your specific needs or you

Buying Property In Bulgaria

Knight Frank, one of the UK’s most respected residential and commercial property consultancies, recently published a report stating that high increases in residential property prices placed Bulgaria in second place in a world table highlighting property price increases during the second quarter of 2007. The report stated prices increased by 27.1%, so does this mean my house is now worth around £44,000 more than it was when I put it on the market at the start of the year? Should I be increasing the price in line with market trends?

A report by another reputable company, real estate consultants, Colliers, reported similar trends in Bulgarian property but focussed more on the fact that it was the number of buildings constructed. The mountain resorts showed 50% increases and the Black Sea coast 39%. How easy it is to read this statement in relation to prices increasing rather than that of the rate of build and to neglect the part of Colliers report, which states that overall sales prices have “remained unchanged for the past half year as supply continues to outpace demand.”

The reality of the situation is that most reports measure Bulgaria’s property market success in terms of price increases …

Steps To a Successful Property Purchase

KNOW WHERE YOU ARE GOING

Any investment journey needs to start with an outcome. As much as we love and adore property, in the end it is just a vehicle to achieve a financial result to give us more choices in our personal lives. What choices do you want to have? AS the answer to this question changes everything from this moment on.

STRATEGY COMES FIRST

Most investors have a strategy of “buy and hope”. They buy a property and then hope like hell it goes up! This really of course means, they have no strategy and then wonder why they don’t get the results they want.

A proper investment strategy is really an architecture built from your life and takes into account everything from your dreams and goals, your current financial position, your stage of life, risk profile, time frames, time availability, skill sets etc.

These all need to be considered when constructing the road map to lead you down the path to your ultimate portfolio. In the end, a strategy should result in a clearly laid out set of buying rules so you know exactly what type of property you are looking for, the price point, the yield, …

Commercial Property Condition Assessment

The Purchase or Leasing of Commercial real estate, whether it be a basic commercial net lease, a commercial triple net lease, the purchase of a church facility, a retail outlet, or the purchase of a million square foot office/warehouse, the prospective buyer or lessee absolutely must conduct an adequate level of due diligence when investigating the physical quality of the commercial real estate they are investing in.

You need to know not only the physical characteristics of the real estate and buildings being acquired, but the approximate condition and age, to assess the good with the bad, such that you can adequately balance the risks and rewards being offered in conjunction with your real estate deal. The single most important part of the real estate transaction process, aside from the purchase price and profitability balance, is a well-documented review of the actual physical condition of the real property. Otherwise, you could find yourself the not so proud owner of a commercial property that, doesn’t suit your needs, costs more than you can afford in upkeep, or the ultimate remorse for investors – capital expenditures are being sunk into a property on a regular basis that someone else is utilizing and …

Commercial Property Managers

When it comes to goals, you would expect that a sales or leasing specialist would focus on a mixture of the following:

  • Listings
  • Commissions
  • Time on market
  • Market share

You can track all of these on a monthly basis and then see where things are changing.

So what would you track and monitor from a property manager perspective? Try some of these:

  • Arrears as a percentage of portfolio income
  • Vacancy factors in the portfolio
  • Time to respond to a tenant contact call
  • Time to respond to a maintenance event
  • Time to complete a maintenance repair
  • Reports to clients being sent out on time
  • Time to respond to requests or calls from clients

These points are all very good key performance indicators. The fact here is that these numbers start to ‘blow out’ when a property manager is underperforming or heavily loaded with work. That’s when you see the errors occurring.

It is a sad fact that the ‘management division’ in many brokerages are the ‘forgotten cousins’ of the business. When things are going well, everyone leaves them alone. When things start falling apart in the division, the whole brokerage struggles.

For a commercial brokerage to thrive, it needs a very …

Property Maintenance for the Fall Season

Gutters

Gutters can become clogged with leaves during autumn, so you will need to make sure that you clean these out regularly. This will improve the rental appeal of the property, as well as preventing flood. As the leaves clog up the gutter, it can prevent water from flowing properly and this is the last thing you need when you have a property to run. Your property manager can also handle this issue, by sending out a designated cleaning team to render the issue.

Heating

The main problem that many property owners experience is heating. During summer, the pilot to the heating appliance can often burn out and unfortunately you do not realize this until the colder weather approaches. Make sure that you check the heating within the property before fall approaches, so you have time to make the repairs before the tenant suffers. Be sure to check every heating unit, replacing the pilot lights as required to make sure that the house will fully warm through during fall.

Plumbing and Piping

Winter can often freeze pipes, and the water inside expands to give you a range of leaks. The best time to check for damaged pipes is just before …

How To Subdivide A Property

Acquire The Property

Basically, you cannot subdivide and sell a parcel of land if you don’t rightfully own a certain property. Perhaps, you already own the parcel of land or maybe you have stumbled on the property you fancy to buy. Before you subdivide the land, you have to acquire the land free and clear.

Research The Zoning Ordinances In Your Locality

Explore and learn more about the county records to know all the zoning ordinances in your locality and get familiarized with city utilities. Work with a title and abstract company to conduct an intensive title search of the property, in case you do not yet own the property. This will provide you information regarding the current status of the property. Moreover, you will be able to discern if there are liens filed against the land. Working with a title and abstract company allows you to verify first the title before you buy the real estate.

Survey The Land

Survey the perimeters and boundaries of your property. A preliminary survey is performed as a fundamental step of your buying process, which will be conducted by a certified land surveyor. In this phase, the surveyor looks into their findings, dimensions …

Cardiff Property Market Performance

However, the feeling is not the same for those looking to get their first feet on the property ladder or possibly for those looking to buy another home. Knowing what is happening in the local property market is not only interesting, but can be crucial in giving you an edge – knowing where you stand financially and being informed of the true value of a property can be genuinely helpful.

So how is Cardiff property is performing? Over the last twelve months there have been 5,492 sales in Cardiff. This is significantly down on last year by 10%. The supply of property in Cardiff is poor and has been slowly declining. This low supply coupled with a high demand is what is keeping property prices steady. Although statistics are now starting to show that demand is also slowly slipping as mortgage approvals have dipped by around 5%. The average price of property in Cardiff is now £192,385 this is up around 3% growth on last year and up by a handsome 17% in the last five years.

What about the future? Cardiff’s population continues to grow, and it is estimated it will grow by 3% by 2020. It is also …