Category: Property Management

Features to Get a Profitable Rental Property

Begin Your Search

When you set out to find a rental property, you may secretly wish to seek the help of a real estate agent to help in your search for the property, but you must start with the search, on your own! To hire an agent will cloud your mind with unnecessary pressures to buy, before you actually find a property which suits you the most.

Neighborhood

The quality of the neighborhood will influence the kind of tenants and the frequency of vacancies. For example, if you buy a property near a university area, then it will attract a pool of students to take the property on lease. The frequency of the vacancies will also be on a regular basis when the students will keep coming in search of a residential property.

Amenities

Take a walk in your potential neighborhood and search for current and upcoming projects, parks, malls, gyms, movie theaters, public transport, and other amenities that will attract the buyers. When you set out to search for yourself, you will get an idea on where you will find a beautiful blend of the public amenities and the best rental property.

Rent is the bread and butter for …

Owning Rental Properties

  • Comparisons/ competitive, opportunity costs, uses for your money: Does buying and owning a particular property, maximize your possibilities, and return on investment, when compared to other alternatives and uses? In other words, will doing so, provide, you, with the most, bang – for – your – buck? When considering any real estate investment, begin, by fully evaluating, not only, the initial, purchase price, but, also, how much, will be needed, both in the shorter – term, and longer – term! Take the purchase price, plus the more immediate (first 2 years of ownership) costs, incurred, and involved. Then, conservatively, consider, and use, the anticipated rent – rolls (look at the local market, and competition, and use an 80% figure, meaning, four – fifths of that number, to see your rate of return). Seek a minimum, 6% rate of return (for example, if the property purchase plus short – term price is $500,000, your full rent – rolls should be approximately, $37,000, so your 80% – figure, is roughly, $30,000, or 6% of the cost figure). In addition, compare this to the opportunity – costs, for your money, or, what you might, probably, receive from other investment vehicles).
  • Reserves: We suggest

Buying Off the Plan Property

In most cases you pay 10% of the purchase price and are entering into a contract with the developer. The balance is paid upon ‘settlement’ when the building is completed. This can be anywhere from a few months up to two years after the initial contract is signed. Most ‘off the plan’ purchases are apartments but townhouses, villas and land packages are also available.

The Benefits Buying a property at today’s prices and settling later is a tempting proposition, especially in a rising market. If the buyer isn’t willing to assume the risks associated with off the plan purchases, they may end up paying more for the same property when it is completed and the best apartments in the building may have already sold.

Delayed settlement gives you more time to save for your deposit and plan for mortgage repayments. Another benefit for buyers purchasing new strata units off the plan is the ability to select or vary finishes and fixtures, giving you the opportunity to make certain changes to suit your own taste.

Market Conditions The big unknown when investing off the plan is whether your purchase price will reflect market conditions upon settlement. So is now a good …

Benefits of Using a Quality Property Management Company

  • Higher Quality Tenants
    One of the many jobs of a property manager is to find quality tenants to fill vacant properties. They thoroughly screen applicants by examining factors such as their rental history and credit score, calling their references, and even interviewing them to determine if they would be a good tenant. This process ensures that properties are filled with desirable tenants who will take care of the space, make their payments on time, and produce a steady income for the property owner. Management companies have vast experience sorting through applicants, and can spot warning signs and red flags easily.
  • Shorter Vacancy Cycles
    The owner isn’t making a profit if their property isn’t occupied. In fact, unless they own the property outright, during times of vacancies owners typically have to make the mortgage payment out of their own pocket. When a property is occupied tenants’ rent can be put toward the mortgage payment or used as income. Property management companies take care of marketing and advertise properties to the appropriate audience and see that the vacancy is filled.
  • Better Tenant Retention
    Tenant turnover requires additional time and money to clean, market and fill the space, all of which is costly

Buying Property in Costa Blanca

Furthermore, if the cost of a second home still seems prohibitive, look at it as an investment; villas and apartments are in constant demand, so you would even be able to partially cover your costs by renting it out as a holiday home and maybe, just maybe, your little gamble could become an excellent source of profit.

So what sort of apartments and villas are available? Well, there is a range of properties to suit just about anyone looking to buy property in Costa Blanca, from single-bedroom apartments in new builds, to luxurious mansions.

For example, if you are looking to buy an apartment in Costa Blanca, the smallest available are the Las Rocas apartments in Ciudad Quesada. At around 33 metres squared, they are too small for a family, but perfect for a couple, and come with beautiful views of Quesada. Built in the traditional Mediterranean villa style, the complex comes complete with a communal pool and garden, so if you do not fancy venturing beachwards, you can stay and relax in and around the apartment. Furthermore, the apartments are within walking distance of shops, restaurants and a country club, allowing inhabitants to enjoy a relaxed holiday, with all …

Property Valuation Report

  • Full-Colored Property Snapshots: Valuers use professional photographers to take definite shots of the property in question from every angle possible. This leaves no doubt on what it involves and allows the buyers to understand thoroughly what they are getting into with their chosen real estate.
  • A Comprehensive Features List: To give the buyers a good idea of a property, valuers must provide an in-depth list of features involved. Thus, the buyers will know whether they are getting exactly what they want, or it is going to be a bad investment.
  • A Comprehensive List of Sales: A property can change hands any number of times and it may lead to remodeling or renovations, which may eventually add to or lower its value. Valuation report must contain a comprehensive list of every transaction related to the property.
  • Property Legal Identification: It is necessary to include legal identification in the valuation report. This includes registered deed and certificate of property ownership from the authorities. It solidifies the ownership of the property and does away with all future disputes and legal complications.
  • Surrounding Development Details: Details about the area’s development surrounding the property is another important factor, which every valuation report includes. Buyers should

Understanding Property Curbs

Property tightening measures can be demand side measures or supply side measures. Demand side measures are targeted at decreasing speculative/investment demand, in order to soften the prices. Some of the measures include i) decreasing the availability of funding, ii) increasing the cost of loans, iii) increasing the down payment on loans, iv) rising taxes such as property tax or capital gains tax, and iv) tightening eligibility criteria for home purchase. Funding availability can be tightened by not providing loans/mortgages for second or third home purchases. Further, even if loans are sanctioned, the initial down payment can be higher and interest rates can be higher. For example, the minimum down payment on first home mortgage is 30% in China, while that on second home mortgage is 60% (70% in tier-1 cities such as Beijing). Capital gain tax hike impacts second-hand/secondary home market and controls speculative demand. An extreme form of curbs is to prevent a whole section of population from purchasing property. Non-locals (within a particular city or country) may be barred from buying property. Hong Kong in October 2012 levied a 15% tax on property purchases made by foreigners. Supply side measures aim to increase the supply of homes in …

Real Green With Rental Properties

Well, we can with the understanding of not destroying rental homes because we do not own it. At some point we are all accountable for something green in this world we live in. The housing industry in no different based on fixing, remodeling, and selling homes in everyday business.

The Real Green with Rentals helps you explore the possibilities of recycling properties not just for profit but for the realization recycling. Everyday I realize how energy has evolved and it continues to grow.

Would you rent a home with solar panels for energy? I ask this question because we need to know answers about energy sources that can save us money. Of course, I could rent one of my home for so much money a month. But why not rent my home that has green technology to save a potential client money in the future. You would probably ask why would anybody be concerned with saving a potential tenant money. The answer is real easy for me because it alleviates the pressure paying rent in a timely matter.

All, I can say is some people have the wrong perception about home rentals. How can we expect a person to take …

Take During Property Inspections

Heating

Check all the heating supplies and make sure they are fitted properly. Over time, boilers can wear down and become non-functioning. The last thing you want to do is to leave your tenants without heating for days on end while you find a repair team. By regularly checking the heating appliances within your properties, you can replace the boiler before it fully breaks.

Water

Make sure that the water runs clear and that no contaminants are coming through the tap. You need to make sure that there are no drips from the sink, and that all loose pipes are connected properly. A leak is easily fixed, however if it is left then you could suffer the consequences of water damage.

Septic System

Checking out the septic system is always a good move. Make sure you note the last time it was pumped, and look out for leakage around the surface.

Wiring

Examine the circuit breaker panel and make sure that the fuse box is fully connected. Take note of any loose or fraying wires around this area and the danger it imposes.

Structure

Checking the structure of your property is vital if you want to rent it out for …

Buy Abandoned Property

How to Find One

Listings give clues if a listed property is abandoned. Textual descriptions such as for immediate ownership, must sell, below market value, under appraisal are just some of the most common identifiers used to sigñify that a property is abandoned.

But there are also properties of this kind wich you may mot find on listings. If you think that a property you see is abandoned, you may check with the county clerk. From there, you can already check some underlying conditions such as tax dues and other fees which the owner might not have resolved.

Local real estate agents are also valuable resources for abandoned properties. Depending on your budget, they can show you an extensive choice of foreclosed properties or those nearing such status.

Real Estate Agent Help!

There are paperwork and documentation needed to go forward and make the bid towards owning an abandoned house. Yet, they might be time-consuming. Eliminate these hassles and stresses by seeking the assistance of a local real estate agent.

His or her professional expertise will help your journey from property hunting until ownership smooth one. He or she can also go with you to the abandoned property and there …