Tag: Apartment

Investing In Apartment Blocks

Group Investing

Purchasing apartments in holiday destinations is popular for the ‘group investor’ type of purchasing as the various owners can holiday there but also let the unit out at various times of the year and recoup some of the investment expenses. Sometimes group investors will purchase single dwelling holiday homes too.

CBD Apartment

Apartments are popular for CBD investing as CBD living is always sought after and rental returns and property value increases are usually on an upward climb. Usually there are several standards in the CBD. Those where the buildings are much older and not in such good condition, and those that are in upmarket buildings which attract young executives or contract workers.

Facts To Check Out When Buying Single Apartments (could be permanent rentals or holiday rentals)

  • who is managing the body corporate
  • read through the recent minutes and establish if all is running well with the BC
  • are there onsite managers – these blocks are usually better run that when there are individual tenancy managers
  • what overall state is the building in
  • are their problems getting maintenance done in the building
  • what type of tenancy is run at the building, short term letting or permanent rental

Money Saving Apartment Decoration

If you are certain to alter some elements of the apartment, the next thing that you should do is making a plan. Rushing might turn into a boring environment. So, check the magazines, web, and experts for professional advice and inspiration. This type of planning will also help you save money in buying things that are worth. As what I have been saying, all elements and colours shall possess harmony. To help you, spend some time reading the following to get the best money saving apartment decoration ideas.

Sofa Covers

Buying new set of sofa or chesterfield for the apartment is indeed costly, especially if you are not certain with your work and with the new environment. That is why; instead of buying new set sofas, use the sofas from your old home and do something about it so that it look sophisticatedly new. This can be done through procuring sofa covers or slipcovers. A slipcover indeed cost less than having new sofas for the apartment.

Accent

People who are new in their work and especially college students are likely to have funds just enough for their daily necessities. But, you can perk up the atmosphere of your apartment through …

When Buying an Apartment

First off, you are going to want do some research – preferably online. It is much easier than using a newspaper as it provides you with accurate picture and details. Once you’ve started going through a few different locations, you should start to think about budget.

Determine which elements are essential within the neighborhood you want to live in. Are you willing to sacrifice anything you cannot have? A great list to start off with includes bus stops, parks, clubs, shops, subways, or restaurants.

Once you have figured out which location you feel as though would serve your needs correctly, take a tour of it with the seller. Ensure you ask any and all questions you have.

You should make a small list while walking through the place of any damages or repairs that will need to be done. It is common for the seller to fix these in order to strike a deal; otherwise, they will knock the cost down a bit.

It is an excellent idea to get a grasp of how much your monthly bill will be when living here. Simply ask the seller for an approximation of how much the electricity bill, water bill, and other …

Documents to Check Before Buying an Apartment

Take a look at the title deed:

Check the title deed of the land on which the apartment has been constructed. The title should be clear and marketable. The title deed (proving ownership of the land) needs to be in the hands of the seller of the apartment.

The title deed gives you the history of ownership of the land. Who the previous owners were? The change in ownership of the land (as it is transferred between owners as a gift, sale or an inheritance).

Check the sale deed of the apartment:

A sale deed of the apartment gives the seller the right to sell. It transfers the ownership of the apartment from the seller to you. Make sure that the seller of the apartment has the sale deed (The right to sell the apartment to you).

You the buyer will have to pay the stamp duty and the registration charges.

The building approval plan:

The building needs to have the approval of the Municipal Corporation (Government approval).

The seller of the apartment has to register the documents with the Municipal Corporation to get the necessary approval.

Make sure that the apartment you plan to buy has the building approval …

Impacts of Rent Control on Apartment Buildings

Advocating rent control ignores the basic economic laws that govern housing markets. Rental property that is privately developed, owned, and operated is treated as a public utility. That philosophy harms not only the providers of housing but the consumers it was intended to serve.

Rent serves two functions in the efficient housing market operation. It compensates existing housing unit providers and new unit developers for the cost incurred to provide shelter to the consumers. Rent also provides economic incentives that attract new rental housing investment. Housing is like other commodities. The supply is related to the market price that prevails.

Providing economic incentives is particularly important in the evaluation of rent control economic implications. When the market is not regulated, rents rise as consumers compete for units that are available. The higher rent encourages new investment in housing rentals. Buildings are constructed, rehabilitated, and converted from nonresidential to residential until there is an elimination of the housing shortage.

Without rent increases, new investment is not attractive. Housing construction is sharply limited. There is no long-term housing shortage solution. When rents fall, the market receives a message that new investments have no room to succeed. Artificially restrained rents by a community …

Apartment Owner’s Association

The Formation of a Society for an Apartment

An apartment society is typically comprised of seven members and is governed by a memorandum that states the names, objectives, addresses as well as professions of the members involved. The committee has a set of rules and by-laws governing how the affairs are regulated in the premises of the apartment. These are compiled by the Registrar of Societies and a member of the committee, and registered if they are in compliance with the legal requirements.

Amendments to the Memorandum and Name of the Society

In the case that the name of a society is the same as that of another society, the memorandum and other documents are changed according to a specialised resolution. This will leave societal affairs and other matters unaffected, as the alteration will only occur for the name. Amendments to the by-laws can only be made with approval by the Registrar, if he finds that the amendments are acceptable and for the purpose of bettering the administration.

Common Areas and Facilities in the Memorandum

The columns, foundations, beams, girders, roofs, main walls, lobbies, halls, corridors, terrace, stairways, fire escapes, compound walls, sumps, entrances, wells, exits, basements, gardens, yards, parking …

Getting Out of the Apartment

Renting

You just went from paying rent on an apartment, why would you want to pay rent on a home? The obvious answer is that it’s a house and not an apartment, meaning that you’ll have more space both in and out of the house. The less obvious answers centers around your ability to get a mortgage.

Depending on a variety of factors such as your income, credit score, and potential down payment, your ability to get a mortgage loan may be severely hampered. By renting directly from the homeowner you can often take the banks out of the equation, a handy step if you have excellent income but less than stellar credit.

In addition to allowing you to live in a house that you may not be able to finance on your own, renting also gives you the opportunity to try out living in a home without the long-term commitment usually associated with home ownership. In addition, much like renting an apartment, many of the repairs you would call the rental office to handle in an apartment should be handled by your landlord, or the cost of the repair removed from your rent.

Finally, many renters can take an …

Reasons to Rent an Apartment

One of the prime reasons that one wants a Los Angeles apartment for rent is because of its reasonable price. The prices for rent are quite affordable. When you buy an apartment there are many expenses apart from the expenses in buying the apartment therefore it makes sense that rather than buying one should rent an apartment in the city.

The second reason that one should go for Los Angeles, California apartments on rent is because you do not have to pay the maintenance charges of the apartment which can be very high. All sort of maintenance activities are to be taken care of by the owner therefore you can have peace of mind and not worry about various things.

Los Angeles California apartments are also very popular because of the job opportunities available in the city. The city is a financial hub with plenty of job opportunities available at the place therefore it makes a great sense to go for apartments for rent in Los Angeles California.

Apartments in Los Angeles also boasts of some of the finest neighborhoods in the world. It is home to some of the most popular Hollywood stars. The most popular people from the …

Apartment Investing Boom

The age of these people who are renters is about 18-35, and in the next 10 to 15 years, the number of people in this age group is going to increase by five to seven million, which means apartments are going to be in even more demand than they are currently. Signs are definitely showing apartment investing to be a wise choice for people interested in commercial real estate investing.

Apartments also make an excellent source of income as well because you can have multiple renters under one roof, but only one building that you have to maintain. Also, the value of apartments is based on your net income, so whether the income increases or the expenses decrease, you will still be making money on them. If you pick good areas for your apartments, usually the rents will rise as well, which means you will make even more money from those apartment buildings over time. It is also relatively easy to get funding for apartments as well.

Knowing Where to Buy

Of course one very important thing that is essential if you are planning on investing in apartments is to know where you need to buy. When purchasing apartments, you …

Living Green in an Apartment

The most obvious things renters can do is to reduce, re-use and recycle. If your building does not have a recycling program, look into starting one or find the nearest recycling drop center. Get to know your neighbors so if you have items you no longer need you can see if they would want it. You can also do simple things like

  • utilizing reusable bags,
  • buying and using eco-friendly, non-toxic cleaning products,
  • remove yourself from junk mail lists
  • put recycling containers by your mail box
  • use Fen Shui in your apartment
  • start a building club so everyone can get to know each other

There are also many things you can do to impact your energy bill, including:

  • If you’re not using a light, turn it off as you leave the room. Plus, try using energy-efficient fluorescent light bulbs that help reduce your electric bill and provide light many times longer.
  • When using air conditioners in the summer, be sure to only keep the unit on when you’re home or when absolutely necessary.
  • Another great way to lower your electric bill and save energy is to unplug your electrical appliances when you’re not using them. Or, plug your appliances into a