Tag: property

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 …

Buying Investment Property

This means it’s important to treat each part of the process like a business. Doing so includes using professionals when you need them, from real estate agents, to accountants and lawyers. You want this to make good sense financially, so take professional advice into account and use it wisely.

It doesn’t matter how great the place is; will people want to rent your investment property in New Zealand? There is a real skill in finding a place that is both reasonable enough to be able to offer a good but fair rental price, and be in a place that attracts a stable tenant. People look for slightly different qualities in a house that they are renting as opposed to one they own, with factors such as an easy care garden with a low maintenance section, and a place they don’t need to make improvements on themselves.

There are other factors tenants will look for. Because they can’t alter the building or surrounds too much, it needs to come with the things they want. If it’s an apartment, they are more likely to rent one that has a balcony. No matter where it is, a place with a garage is more …

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 …

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 …

Assess A Property Development Site Quickly

If it is an existing industrial property it’s a reasonable bet that it is zoned for industrial but if there is residential uses in very close proximity then it may be zoned residential/mixed use. First call; the local council land zoning maps. Either give the local council a call or get onto your smartphone or tablet and have a look yourself.

If you are looking at a house block (or two) in an area with many apartment blocks in close proximity then it is likely to be zoned residential. A quick call to the local council can confirm this.

As most people are interested in residential development I will focus on residential “quick assessment”. You may have heard about “back of the envelope” feasibilities; well that’s what I would do now. Note that everyone has their own way of doing things, this is my way and you might not agree with it; that’s fine though. This works for me and that’s why I use it.

Lets say you had a 2,000 sqm block of land and there are 4 or 5 storey apartment blocks near you. To me this means that you could develop about 4,000 sqm of gross floor …

Purchasing Industrial Property

Return

Residential property investment is actually relatively low risk and as a result, low return. Commercial property includes a higher return but this comes in a higher risk. For instance, a flat or device will average a come back of 5% whereas commercial property, such as the warehouse, may average 8%.

Danger

The higher risk comes as higher vacancy rates. Let’s make use of the warehouse example. It could take a while to locate a new tenant for the actual warehouse, many months and possibly greater than a year. Conversely, finding a brand new tenant for your residential property will require generally a week or even two.

Duration of rents

Residential leases tend to become for six or 12 several weeks. However, commercial property leases are usually for a much longer time period. It is not uncommon to possess leases that are to have an initial five-year period, using the option to renew with regard to another five years, after which another.

Quality of renter

The tenant is obviously an important part of your home investment. In commercial home, a government or large corporate tenant is recognized as a ‘blue chip’ renter. They are likely in order to rent your …

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 …