Tag: property

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 …

Problems With a Property Following Purchase

First, you have to be sure that the seller gave a sort of warranty and guarantee. This have to be on document. Otherwise, you’ll have a hard time proving it.

Should there be a strong proof of the said warranty, then you can have the seller liable for the undisclosed problems.

Fraud is another thing which you can have the seller accountable for. Under this instance, misrepresentations or omissions are committed with the intent of not allowing the buyer know of the flaws. There is a clear intention of hiding imperfections such that the buyer is made to believe that the house being sold is in either excellent or very good condition when in fact there are problems or defects.

Structural defects are the most common defects that are hidden through seller frauds. But be aware that some sellers might also be knowledgeable of the kinds of materials declared in the documents when in fact those are not actually the compositions or the types used. Omissions are considered fraud because of the similar intent of not disclosing a known problem.

To make it fair and square with sellers, they are not always liable when problems are discovered after the house …

Common Property Frauds

  • Executing the purchase and follow up activities
    Make sure your builder sticks to the possession date that he has promised because often builders delay when they do not find buyers or their resources dry up leading to no money left for completing the project. Getting possession of your house as soon as possible has several benefits, one being the tax benefits that kick in after possession. The period prior to the possession date has a different tax treatment as pre-construction period.¬†Once you get possession of your house, the builder is responsible for maintenance of the building for a period of 18 months after the Occupancy Certificate (OC) is given. By the end of the 18 months, the builder will initiate the formation and registration of the society, which will elect its representatives and take over the management of the society from then on. Once the society is formed, telephone and electricity bills will be given in your name. Hence, it’s important to ensure the society is formed within the stipulated time.
  • Deliberate Delays:
    Even though the builder may have a handful of successful projects, it is important to ensure that the builder lives up to his promises in the

Buy Overseas Property Safely

Get help from a financial specialist

Sort out your financial preferences that would help you allot a suitable budget to purchase the property. Get a provisional mortgage if you have plans to borrow money apart from what you plan to pay from your pocket. Ask your financial specialist to suggest a long term repayment plan that would be feasible for you as the lending criteria and the borrowing costs may change during those years.

Hire a foreign exchange specialist

If you borrow money overseas, but earn at home, you have to make sure that the rate fluctuations would not affect the value of your property. The difference in the value of currencies could take the property out of your hands as it goes beyond your budget. Discuss with a foreign exchange specialist and understand your risks and have a proper contingency plan to handle unpleasant situations.

Double-check the agent credentials

Apart from hiring an independent lawyer, choose a professional overseas real estate agent to assist you through the process. Place your focus on the agency rather than the property you want to buy. Question them in all possible ways to make sure the company or the agent is potentially the …

Buy New Property

The Facilities

Modern new properties come with a variety of facilities which directly determine how valuable they are. These amenities include pavilions, studios, gymnasiums, Laundromat, pools, groves, avenues, ponds, fitness galleries, jogging trails and spas among many others. The facilities that a property has determine its value and just how convenient it will be for you or the target market. Now-a-days people are paying more attention to luxury options when it comes to a property. It makes it important to choose something that will be most appealing.

Surrounding Property Value

Before buying a property, it helps to also consider the value of other properties in the same area or location. The worth of the neighboring houses can help you in putting an estimated value to the property. You however must consider the available facilities and factors such as the view that can be enjoyed from one property to the other to make a good estimate. New amenities can affect the value of the property. When you check around, you will also get to know about shared challenges or problems among the properties.

Market Timing

It is among the most important. It is of great importance to time the property buying …

Quick Sale of Property

Plan of action for a quick house sale

There are some actions required on your part if you desire to sell your house as soon as possible. There are bound to be many sellers in the market offering a similar type of property. In order to complete your sale soon you need to compete with them and for that you need to stand out of the crowd. Following are some tips to sell a house quickly-

  • The first and the best move is to contact a real estate agent to plan your sale and know the market value of your property. A real estate agent will fetch a buyer soon for you and give you the best advices on your sale plan.
  • The next move is to enhance the appeal of your property and bring updates which are in your budget. For your property to be sold the major condition is that a potential buyer should like it. You should clean every corner of your home and beautify it before the buyer visits to check your property for the first time. Upgrades are important to add value to the appeal of your property. All this should be done taking the