Categories
Real estate

Top 21 Tips to be a Great Landlord

All things said and done about hiring a Property Management Company to manage your real estate investments, it is not possible for everyone to hire one. For NRIs, it becomes almost unavoidable to not hire a property management services, be the property in Mumbai or any other city in India. It is not the same if you are staying in the same city where you have invested.

However, every property owner likes to be a great landlord, as that is what extracts great tenants. And having great tenants means the property is in good hands, well taken care of and nevertheless the rents are paid on time without any difficulty. Being a great landlord also means a low tenant turnover rate as the occupants prefer staying in the property for a long time.

But as a landlord, dealing with tenants is kind of like knitting. It requires a lot of learning. Well, if you are a newbie in this and looking for landlord advice, you have come to the right place. Here is a list of the top 21 tips from experienced professionals all over the country for landlords.

  1. Use a Property Management Software to streamline necessary tasks like list screening tenants, signing leases, collecting payments and handling maintenance requests
  2. Many landlord overlook this, but make sure that your tenant has Renters Insurance
  3. Keep a documented proof of your property’s condition before the tenant moves in and when he moves out
  4. Though, Municipalities have different regulations regarding what to do with the security deposit made by a tenant, it is important to keep the security deposit separate and not mix it with rent received
  5. Have a well crafted lease by including things like rent, property usage, repairs, inspection, maintenance, conflict resolution, termination and eviction
  6. Research the market and set the rent amount reasonably
  7. Getting repairs done promptly not just saves your property from more damage, which saves money, it also prevents landlords from having the tenant claim remedies under the law
  8. Schedule regular property inspection to keep a closer eye on your property
  9. If you are allowing your tenant to keep a pet in your property you need to have a strict pet clause as part of your rental agreement
  10. Screen tenants thoroughly to save the cost of tenant turnover which is likely their biggest expense right after mortgage interest and property taxes
  11. Take advice from experienced landlords by joining an investment group, be part of a forum, and meet like-minded individuals and learn from their mistakes
  12. Consider cash for keys instead of an eviction to avoid the often time consuming legal process of filing an eviction with the court which can take months.
  13. Do not mix family and friends with your investment property business as no matter how wonderful it may be in the beginning, they will expect more for less from you
  14. Use small business accounting software to keep you organized and up to date with your business activities
  15. Work with a Real Estate specialised attorney so they’re familiar with the law
  16. Having the proper landlord insurance is vital as it helps to protect your investment from the expense of lawsuits and/or property damage
  17. It is important to know Local Real Estate Laws and Regulations
  18. Choose quality renovations as that will lead to rent increase and more quality tenants
  19. Rental properties provide a good opportunity for investors to take advantage of tax benefits and deductions by writing it off as loan fees, mortgage interest, utilities, maintenance and more
  20. Treat being a landlord like a business where rent is your income and property management fees, repairs and taxes are all your expenses
  21. Just because you can do something doesn’t mean you should, you should know when to outsource a particular job

We hope these tips help you make landlording much less of a headache than it is for others.

Categories
General

Conseils utiles à garder à l’esprit lors de l’achat d’un appartement

La plupart des personnes à Genève et en Suisse vivent dans des appartements. En fait, en 2016, plus de 2,2 millions de personnes résidaient dans un appartement. Il n’est pas inhabituel pour ceux de cette région de vouloir en savoir plus sur la façon de trouver le bon appartement et que faire s’ils veulent acheter un appartement.

Pour ceux qui se trouvent dans cette situation, continuez à lire. Ici, ils peuvent en savoir plus sur ce qu’il faut rechercher lors de cet achat énorme.

Considérez la position actuelle d’une personne

L’une des premières choses qu’une personne doit faire lorsqu’elle est prête à acheter un appartement Genève est de considérer les conditions dans lesquelles elle vit actuellement. Combien de temps ont-ils l’intention de rester? Vaut-il la peine d’acheter l’emplacement plutôt que de le louer?

Une façon de le déterminer est d’utiliser une calculatrice de loyer contre achat. Cela aidera une personne à considérer tous les facteurs qui entreront en possession et à s’assurer qu’elle prend une décision financière intelligente.

L’achat d’un appartement est-il une option abordable?

Une autre considération importante est combien une personne peut se permettre de payer pour l’appartement qu’elle veut acheter. Un bon moyen de comprendre cela est d’utiliser un calculateur d’accessibilité à la maison. Cela permettra à l’acheteur potentiel de placer ses revenus, ses dettes et son acompte dans la calculatrice pour déterminer si l’achat est une décision judicieuse.

Apprenez à connaître les options

Quand quelqu’un est prêt à acheter un appartement, il va probablement se heurter à quelques options. Par exemple, ils peuvent rencontrer des coopératives ou des condos. Connaître la différence est essentiel pour prendre la bonne décision.

Un condo est considéré comme très similaire à une maison, car l’acheteur recevra l’acte de l’unité et, s’il veut le louer à l’avenir, il peut le faire sans stipulations, sauf que le nouveau locataire s’est qualifié par le biais de la commission du condo. Cependant, avec une coopérative, une personne achète une part dans un bâtiment plus grand. Cela signifie qu’ils sont propriétaires de l’unité, mais il y a généralement beaucoup plus d’exigences de conseil pour se qualifier pour l’achat. En outre, les non-citoyens ne sont pas susceptibles d’entrer dans ces bâtiments. En ce qui concerne la sous-location, les politiques sont généralement plus strictes également, imposant généralement des limitations liées aux périodes et autres restrictions.

Déterminez les incontournables

Lorsque quelqu’un commence la chasse à l’appartement de ses rêves, il doit restreindre les options. L’un des moyens les plus efficaces de le faire est de créer une liste des incontournables. Cela aidera un acheteur à supprimer quelques options de sa liste presque immédiatement.

Lorsqu’il s’agit d’acheter un appartement, il ne fait aucun doute qu’il s’agit d’un investissement énorme et d’une décision importante. En tant que tel, c’est une bonne idée de garder à l’esprit les informations ici pour vous assurer que le bon appartement est trouvé et acheté. À long terme, cela va payer et aider à garantir que l’appartement souhaité est acheté, pour tout acheteur, quels que soient leurs besoins ou leur budget.

Categories
Real estate

Benefits of having real estate agency at your side!

In your tough times, many people are looking to cut costs in any way which they can. All would love to save extra money on the sale price. This is what typically what the buyer’s agents make on real estate transactions and most of the expert’s think that this money is well spent.

It is very true that anyone can shop for a house, and even get a glimpse inside without formally signing on with a real estate agent. But unless you have time to make home shopping a part-time job for a few days, real estate agency Caldwell NJ will help you to find the property which you are looking in less time.

All your requirements are taken into consideration. Even if you are looking at something specific, the agents working for you in the agency will look after your needs. The agent will be helping you to find the perfect house for your needs. Here are a few benefits of hiring a real estate agency Caldwell NJ.

Ethical consideration

All the agents working for the real estate agencies agree to abide by a code of ethics. The code essentially says that the realtors should deal with the parties to the transactions honestly. Under the code, the realtor is obliged to put the client’s interests ahead of their own. The realtor is also required to make full disclosure about the problems regarding the property and be truthful in advertising. If the realtor does not abide by the ethics then it can result in a three-year expulsion, fine or a fine for the realtor.

Pricing expertise

Many of the real estate agents can set a price on a home the minute they walk through the door. If they have a lot of experience in the market, they know the value of the neighborhood.

While there are methods of getting the information online about the sales of the houses, the real estate agency Caldwell NJ has agents who are experienced and know whether a specific house is overpriced or under-priced. Also, the agent will have a good idea of what you are looking for and hence the realtor will not waste your time touring houses which will not work for you.

Not only the agents can provide all the data on the local home sales which you want to see, but they will also get you different assets to the deal which come from years of experience in getting the deals done.

Requesting repairs

The best part of real estate purchase is the requesting of repairs. A real estate agent will be able to identify the troubles which you may not see. Also, the real estate agency Caldwell NJ realtor will also recommend a good independent home inspector who will easily provide a report on the problems with the house.

The reports can be dozens of pages. Within all those pages, some problems are important while some are not. If the house is in a good condition, requests for repairs can make or break a deal. The agent from the real estate agency Caldwell NJ will have a better sense of what is reasonable to request and what is excessive.

Categories
Real estate

Places where you can invest your money

There are many ways by which you can invest your money. This way you can get a lot or profit in no time. If you are interested in the investment, you can do it in the following ways to get the maximum benefit:

·        Property:

Property is also a secure way to invest your money. You can buy and sell houses and get profit in this way. A house is a good place to invest your money in too. The reason behind this is because a house can give you a lot of profit too. There are many people you can find who are searching to have their own house. So investing your money in houses won’t be a waste of money. So find some Home and Land Packages and invest your money in it. This way you can have the security and profit at the same time.

·        Business:

Business is also a nice place to invest your money. This is because you can have the chance to enjoy a lot of profit. You can invest a small sum and you can have it doubled in the end of the month. So if you have someone who is doing some business, you should try to get your money invested in their business. This way you can enjoy free profit and use your time to invest somewhere else.

·        Bit coins:

Now a day, many people are interested in investing their money in bit coins. Many of you might be wondering what the bit coins are and how you can invest your money in it. Well, as we know that now you can do anything on the internet. You can shop, do different jobs, get famous and can handle your business on the internet too. Well, many of us don’t know that now you can have money on the internet as well. Yes, there are different types of currencies that are used on the internet. You can buy different things from them and the best thing about them is that they worth more than a dollar. One bit coin is worth more than 700 dollars. So if you are planning to invest your money and time, there is no better option than to invest in the bit coin. All you have to do is to regulate the currency and exchange them with other in the time of need.