Tag: property

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 Property On Leased Land

When looking at homes for sale you can tell if the one you are interested in is on leased land if the advertisement says something like ‘manufactured home’ or ‘leasehold interest.’ Also be aware of the word ‘association,’ which will be used to describe areas of the property that you have not explicitly purchased yourself. The price for a home on leased land will also be much lower than the average market price for other similar houses in the area. Leased-land properties are generally built close together and rarely have amenities like a private pool attached to them.

Mortgages are taken out on land for leased properties, but a monthly payment will likely be lower because the original purchase price was cheaper. A fee that you wouldn’t normally have to pay for a traditional home is a land lease fee, which will vary by property. You may also find that some leased-land properties have massive home owner’s association fees that are used to cover the upkeep and maintenance of the leased land areas.

If you are considering buying a property on land for leased it will be beneficial to come up with an outline of your budget for a regular …

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 sig├▒ify 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 …

Rental Property Advertising

You Must Have Professional Photo’s.

It will cost from $200 and up and you could even get a video to post to You Tube and Other Websites. In today’s digital world everyone starts the process of finding a home to rent or buy sitting at a computer. And this makes professional pictures and video a must have priority. Don’t cheap out here!

Ad Copy

Companies spend billions of dollars on formulating ad copy trying to get us to buy their products. There are mountains of books and expensive courses dedicated solely to crafting words that move people. Don’t cheap out here either. The words you write need to motivate people to call you before anyone else. Write – Re Write – Study Other Ads – Get Second and Third Opinions – Re Write – Re Write…

Your Professional Photo’s and Ad Copy will be used in all your online advertising and printed flyers and can be re-used whenever necessary. Which adds to the return on this investment.

FOR RENT Signs

Use a professional quality lawn sign and sign post similar to the signs Realtor’s use to advertise homes for sale. Add a Sign Topper or Sign Rider with the URL …

Find the Perfect Property Manager

References aren’t Just for Looks

Request references and actually follow-up on them when you narrow down your hiring pool. Preferably, these references will be from reputable management companies. Cross check the phone numbers you’re given to make sure they’re connected to a real business. Everyone has to start somewhere, but it’s not wise to trust an inexperienced newbie with something as important as your property.

If you really want to slim things down, ask for letters of recommendation, too. Property managers will be asked to do a lot of things, and if someone wants the job they’ll comply with simple requests. If they can’t drum up a written recommendation, that may mean either they don’t have one (bad news) or they can’t be bothered to get one (also bad news). It’s still an employer’s market, so this is your time to cherry pick property management firm candidates.

Match Experiences

If you simply plan to lease a residential home now that you’ve downsized in retirement, it’s best to hire a property manager with experience in that kind of property. Someone who’s only worked in apartment communities isn’t going to have the experience necessary for such a drastic change. This is why

Role of a Property Manager

You might already have a general idea of what a property dealer does because chances are you deal with one when you pay rent or need a repair in your home. However, there is more to the job than just those things. A property dealer or manager is typically hired to carry out the day-to-day operations of a particular piece of property. Although they are most often associated with apartment complexes, they can also provide services for owners of single family homes. Each manager is likely to have different responsibilities according to their level of pay and their individual contracts.

Not only will your property manager collect the rent; but odds are good they also set the initial amount and adjust it down the line as needed. They know how to do these things in order to make the amount attractive to new prospective tenants; as well as making sure they take in enough money each month to cover the monthly bills of that property. Believe it or not, they really do know what they are doing and generally have everyone’s best interest at heart.

A typical property manager is also responsible for finding tenants with various marketing campaigns and …

Determine The Rental Rate Of Your Property

Local Comparison

One way to do this would be to analyze the property within the local area. Look at the properties on the street, and compare your prices. If your charging $400 per month and the neighboring properties are charging $200 for the same property layout then you may want to consider lowering your prices. If your property is much larger however, then you have every ground to stick with your price. If your property is larger, or it has additional space such as an attic or a basement, then you should compare it to other properties within the area which have the same features. If your property is the largest on the street, charging $400 per month and other local properties charge $350, then again you should lower your prices. Just because it’s the largest on the street doesn’t mean you should charge higher prices when compared to other large properties in the area.

Property Manager

Hiring a property manager is a great way to see what the best price for your property is. They do this by calculating a huge range of possibilities, securing the optimum price depending on several factors. These factors can include the size of …

Bust These Residential Property Valuation Myths

Role of Swimming Pools:

It is a general view that when it comes to House valuation, swimming pools do not have any role to play. This is different for different situations and area specific. While suburban properties that cater to families may consider pools and asset it is superfluous in coastal settings. Therefore, when the valuation of residential properties is concerned one need to view it based on the location of the property and then decide whether or not having a swimming pool is an advantage or only an excess one can avoid.

Reliability of Bank Valuations:

It is a common viewpoint that one can never rely on bank valuation and their estimate is usually a conservative one by any standard. Property owners who think bank valuation unreliable are nowhere near the truth. Remember that property evaluators are independent works and always provide an unbiased estimate of the residence they evaluate.

They cannot afford to go wrong for one can challenge their finding in court and opposing verdicts play havoc with the company reputation and even get it to the blacklists. Therefore, the chance of an evaluator working for the interest of any organization let alone a bank is quite …

Choose Property to Renovate

Consider the location of the property

Rarity, scarceness and low supply add or subtract the value of a home. It will can maintain or increase when demand is more than the supply too. You’ll want to chose a property to renovate that is in a place everyone wants.

Everyone wants to feel unique

Unlike stocks and shares, houses each have unique quirks, qualities and features from other homes. Even with the same floor plan, people want to feel unique.

Unique qualities can make a buyer is be willing to pay that little bit more for a house than one that is like everyone else’s home.

Surroundings

Not all suburbs are the same. The surrounding including: streetscape, facilities, transport, shops and school qualities will be different. If you’re choosing a home to renovate, pick one with all of the above to maintain the home’s value.

Being close to good schools, quality medical care, good shopping, etc. will always be worth more than those miles from the nearest shop a long drive to a good school.

Selecting one to renovate in an area of the suburbs close to those things that isn’t built but planned will improve in value around the time …

Property Leasing

One big reason to lease instead of buy your property is that the upfront cost of doing so is relatively less. Then over the course of time you also pay less than you would if you bought it. Much of the time the seller of the property will give you a better price to begin with if you lease it. After all; your current stream of cash is of the utmost importance, especially in the first few years. Going with the leasing concept is a crucial factor in doing this. With a purchase you have to contend with a down payment of a mortgage. When you lease you do not have this.

Along these lines you should also consider that your company is not yet established enough to receive a good credit rating; and, you may not be able to support a mortgage. Plus mortgage lenders might hesitate to grant your company credit. However; you will likely get a favorable decision from the property owner on whether or not to lease the parcel to you.

A second factor to consider is one you probably have not thought of: do you want the maintenance responsibilities that come with owning your commercial …