Tips For More Successful Broker Open Tours

It appears like most operators just post their intermediary’s open date and time in the MLS, and call it great. I trust that at whatever time you spend a little exertion on something you build your chance for achievement. So I made 14 tips that my customer – or any specialist – can use to build a movement at open houses they hold for merchants.

  • List the occasion in the MLS as quickly as time permits. Five to seven days before the com is perfect. If your MLS bolsters it, and you take after my recommendation in #6, 8, 9, 10, and 11 beneath, incorporate those points of interest.
  • Post insights about the occasion on Facebook and Twitter.
  • Create an exceptional welcome and email or snail mail it to every one of the specialists in your office, and any operators you’ve worked with previously. A snail mail welcome is all the more capable, and will be more powerful! In case you’re doing sustenance or prizes ensure that is unmistakably expressed.
  • If you have office deals gatherings, report the occasion at your meeting.
  • Do examination on the MLS to figure out which operators have recorded, and sold, properties in the zone which are like the one you have recorded. Call and welcome each of them to your specialist’s open. Follow up with an email welcome.
  • Do a dynamic open house with specialists who have homes recorded in the zone. If you do this, make certain to have flyers for their homes in your posting, and ensure you give them duplicates of your flyers as well.
  • Develop a topic for your theopenhouse.com – this can be particularly viable if you are doing a dynamic open house. Your welcome and your sustenance ought to bolster the topic.
  • Create motivating forces for going to. Tragically, numerous operators won’t go to without sustenance or freebies dangled before them.
  • If you offer a wager or drawing, make it dependent upon the specialist giving criticism on the home.
  • Make beyond any doubt you have incredible signage the day of the occasion. Make it simple for operators to discover the house with A-sheets, directional bolts, and inflatable.
  • Follow up after the occasion. Call every single operator and express gratitude toward them for going to the occasion and for the input they gave. If you’ve done a drawing, this is likewise an ideal opportunity to let them know who the champ of the drawing is. Simply ensure you call the champ to start with, so nobody gets the best of you!
  • Get in the propensity for visiting. At the point when your associates routinely see you on a visit at their postings, they will probably go to your future theopenhouse.com.

The greater amount of these tips you can consolidate into your next agent’s open, the more achievement you’re liable to have. The key is in the arranging and the planning. Try not to resemble most specialists, who list the open house in the MLS, appear at the house, and expect wonders. If you precisely deal with the exercises before the open house, it’s significantly more prone to be effective.

How To Raise The Rent At Your Investment Property

Being a landlord requires management skills, sales skills, and negotiation skills as you are constantly working with people (your tenants). One sensitive subject for both the landlord and tenant can be “How much is the rent going to be?” Once the tenant is living there, raising the rent is important but can be a delicate decision.

Keep in mind that you must keep your investment real estate business growing. To that end, you must keep your rents increasing at pace with the market and your rising costs. Raising the rent is simply part of managing your business smartly. Done correctly, it can be an easy and stress-free process.

Although every rental situation and each tenant/landlord relationship is different, I think raising the rent depends upon a couple items:

1. Is the tenant paying a fair market rent? If the rent is currently lower than market, it may be easy to raise it slightly as most tenants will realize they are getting a good deal where they are currently living. Plus they will not want to take on the added expense and time of moving.

2. When making your decision, ask yourself: “If the tenant decides to move because you are increasing the rent, can you re-rent the apartment for minimal cost and minimal or no vacant months?” If you increase the rent by $50 and the tenant decides to leave and you are left with a vacant $1200 per month apartment, was the increase worth it?

3. Consider that if you are increasing the rent in the spring, generally you can be more aggressive because it will be easier to re-rent that apartment in May than in December (at lease in colder climates).

4. If you are actively managing your lease renewals, you must be talking with the tenant 60-90 days prior to the lease renewal about their plans and any rent increases. This will give you time to re-rent the unit if the tenant chooses not not to renew.

5. Have the rent increase conversation with them verbally or in person. This will give you the opportunity to read their reaction to the increase. It is also more difficult for them to say no to your face.

6. If the tenant is hesitant about the increase, immediately see if they will accept the increase if you set the lease renewal to 18 months (locking their rent for that time) in exchange for the rent increase. This is actually an even better win for you as the landlord, as you have just locked them in as tenant for 6 extra months (and you got your rent increase).

7. When talking with your tenant, Use your best sales techniques to show them why they should both stay and accept the rent increase. At the end of the day, be honest. If the increase is related to increases in your costs, explain how your costs have changed. Most tenants can understand that taxes, insurance, or utilities do go up.

8. Lastly, if they are a great tenant consider simply leaving the rent at the same amount for another year. I would, however, let them know that you thought about a rent increase but “because they are such great tenants, you have decided to not change the rent for another year”. This will set up the idea in their minds that you did them a favor and will get them to expect a rent increase next year.

Having your rents keep pace with your expenses and market rents is an critical part of running investment real estate business. Although it can seem intimidating at first, if you just take your time and think through the process with each tenant, it can be a simple process when lease renewal time comes around.

Where to Find A Good Property to Rent?

Everyday, landlords are always putting their properties up for rent. The question is do you know where to look for all these listings? If you are equipped with the right knowledge, you can easily find a few properties that you can shortlist for viewing.

Let me share with you 3 channels that you should look into when you are looking to rent a property:

1.Your local newspaper. Grab a copy of your local newspaper as it is still the most popular channel for people to list their properties. Browse through the real estate classified listings and look out for potential properties that are up for rent. One disadvantage of this channel is that the listings might not be real time which will cause you to miss out on some opportunities.

2.Engage a real estate agent. This is one of the fastest ways to find a property to rent. A real estate agent is a professional who knows the real estate market very well. He or she should have first hand information on any property that is up for rent in your local area. By asking your real estate agent for recommendation, you can save yourself a lot of time and effort. If you want, you can even ask your agent to negotiate the rental contract for you. Just prepare to give him or her commission for a good job done.

3.Log on to the Internet. As broadband technology is so advanced today, surfing the web is no longer a daunting and slow task for us. Just go to Google and type in “property for rent” as your search term. Google should return you with a few property listing directories or agents with their own websites. Through these sites, you will be able to easily browse through all the available properties up for rent and shortlist a few for viewing. The good thing about using the Internet to look for properties is that the listings are real time.

Hope that with these 3 channels that I have share with you, you now know where to go and look for your ideal property for rent. Make use of the advanced technology of the Internet and people to help you find your property. Leverage is the key.

5 Tips for Renting your Property Faster

rental-propertyHaving a spare property that you can give on rent has numerous advantages. While this allows landlord to pay all mortgage from the collected rent, its value increases over time that is really beneficial.
So, today we will share some of the tips that can help you renting your property faster so that you can reap even more benefits.

1. Watch out for the risks and understand the responsibilities
Apart from financial benefits investing in property has some risks involved. Before you go to offer your property on rent, talk to the people who are in the business of renting from long-time. Because handling tenant is no piece of cake and disputes are bound to arise when expectations of one side fails. Besides you will be involved heavily in repairing, maintenance, rent colleting and other tasks because you do not want to disappoint the tenants.

2. Making property market ready
You must understand that the tenants are very choosy. With the large number of options available before them you need to give them a good reason to sign a lease agreement with you and this can be done by adopting the following:

  • If you are only renting a room in your personal property make sure that area of the tenant is secured and both of you can have some level of privacy.
  • Make a complete list of the qualities of the property it has. Focusing on the specialties of the property while doing online advertisement will give you the edge over the other competitors.
  • Post advertisement on the websites that showcase the rental properties. Millions of peoples visit these sites on daily basis in search of better apartment.
  • Do a little research and find out which season of the year are best when the renting process is at the peak and prepare your property for this time.

3. Hire a professional
Searching tenants and giving property on rent is long and difficult tasks due the formalities involved. You sure can handle some tasks but the complete process may go out of your control and things can turn out to be bad. For this reason hire a property manager whose sole job is to find a suitable tenant and is also responsible for taking care of all the formalities included.

4. Look out for the rent you are asking
Check the latest trends in rent that are going locally as well as in the locality where your property is situated. Make sure that you are setting competitive prices as per the trends. Refrain from having too low and too high rents as this generally drives the tenants away.

5. Choose the tenants carefully
We are people and we all have different thinking. So, when it comes to picking a tenant keep your guard up. Ask them the questions about the previous property they were living in and why they left it? Talk to their previous landlords and don’t forget to check there credit history to avoid any kind of disputes or altercation regarding the rent collection.

Preparing Your Property For Rent

Congratulations! You’re just a bit of hard work away from having a property for rent and a good long-term investment.

Your goal is to make the house as attractive as possible to tenants, and ensure it maintains its value. As with any major project, you now need to do some research and planning to prioritize the work.

First off, what major existing problems are there in the house that need to be tackled? If you had a comprehensive survey done when you bought it, you should know the answer to this question already.

Are there problems with the structure of the property, including the roof and walls? These have to be your immediate priority. You won’t have a property for rent if it’s falling down!

Pay attention to important basics such as plumbing, central heating and the electrics.

Be aware that you may create major problems while doing renovations. It’s not unheard of for half a wall to come off with old wallpaper being stripped, or for major holes to be discovered behind old panelling.

It’s worth doing whatever needs to be done to secure your investment at this stage. You might find it harder and more expensive to perform structural repairs when you have tenants in, so think long-term with any work you do.

The good news is that most experts like roofers, timber and damp specialists will happily visit your property to check if their services are needed, and give you a written quote. Most will do this for no charge. This could give you huge peace of mind in preparing your property for rent.

Once the big jobs have been done, next you should look at the major areas that turn a house into a home. Even though people are only renting this private property from you, they will be delighted to see a clean and modern kitchen and bathroom. These are key rooms that will help to dictate how easily you will find tenants in the years to come.

If your budget is limited, look at the small details. Would it make a difference to your property for rent if you replaced the kitchen cupboard doors, or the bathroom taps?

It will certainly make a difference if you decorate. This is the most basic renovation you can do. And it’s important to get it right. You are looking to create a clean and warm but plain environment, that your tenants can personalise with their own belongings.

That means keeping your personal tastes out of it, and decorating in light, plain colours. Try to avoid wallpaper where you can and consider modern touches such as wooden floors or hard wearing carpet. The investment now should pay off for you in the long-term.

Once you have made the renovation plan for your property for rent, you next need to look at who will do the work and how. If there’s more than you can handle on your own, you’ll need to co-ordinate workmen.

Your goal with outside help is to get everyone in and out of the house at around the same time, to get the job done quickly. This will help you get rental income out of the property faster. Be aware that you will need to be a project manager and think through the logistics of the project. There’s no point getting the decorators in until the carpenters have finished.

And you need to consider what kind of budget you have to spend. Watch any property renovation TV show, and you’ll know how likely it is that the work on your property for rent is going to cost a lot more than you thought.

Have a contingency fund and be tight when you need to be. It’s the best way to ensure your house starts generating a profit more quickly.

Property for Rent in Dubai

Moving to a foreign country can be intimidating and finding the best place to rent can be daunting. Dubai’s expatriate population is steadily increasing and demand for rental properties is high. Unfortunately for tenants, this has resulted in skyrocketing rents. Approximately half of UAE residents spend about 30% or more of their salary on accommodation expenses. Despite the costs, most expats, mainly in the UAE for short-term work contracts, opt to lease rather than invest in the real estate market. To the relief of many of those looking to rent property in Dubai, the government has imposed legislation stipulating that any rent increase shall not exceed 7% of the annual lease price. There are also several new property developments underway that should take some pressure off the market in the near future.

Housing allowances are typically part of the expat package. Although in the past companies would cover the bill for the entire rental amount, the trend now is for expats to be allocated a certain percentage of the total yearly accommodation cost, with the rest being paid for out of their salary. Other fees to bear in mind when renting include a security deposit (refundable at the end of tenancy if the rental is deemed to be in good condition by the landlord), possible car parking fees, monthly utilities, municipality charges (typically 5% of the lease), and a 5% commission fee if the services of a real estate agent are used. Maintenance and repairs of the property are covered by the landlord. Tenants are not allowed to make changes to the structure of the property inside or out without the permission of the landlord.

The lease will often be drawn up between the landlord and the tenant’s company / sponsor. If an expat signs the lease himself he must have a residence visa or at least a letter from his employer stating that a visa is in process. The normal duration of a lease is one year. Unlike in many countries where rent is paid on a monthly basis, in Dubai the entire year’s rent is paid upfront, most commonly with 2 or 3 checks. For example, in the case of bi-annual payment, the first 6 months of the lease are paid for immediately with a current dated check, while the remainder of the year is paid for with a post-dated check. (Short-term furnished monthly accommodation in Dubai is available but it is often more costly.) It is important to understand that once the lease is signed, the tenant is tied to the contract. In order to terminate the lease the tenant would need permission from the landlord. That being said, the rental laws in Dubai actually favor tenants. Landlords cannot force a renter to leave without a very good reason (such as wanting the property for their own personal use). Even if the lease is only for a year, as long as the tenants do not break any aspects of the contract, the lease is presumed to be renewable. The Municipality has a special section set up, the Dubai Rental Committee, to oversee any disputes between landlords and tenants.

After cost, location is probably the biggest factor in determining where to rent. Dubai is split in two by the Creek with Deira (or “Old Dubai”) on one side and “New Dubai” on the other. The decision for where to rent is based on factors including accessibility to work, schools, shops and hospitals. Some of the most popular locations to rent include:

  • Garhoud: located near Dubai International Airport and offering low-rise apartments and townhouses at reasonable rents.
  • Mirdiff: a newer development consisting mainly of villas located past the airport.
  • Bur Dubai: located near Bur Juman Shopping Center and offering reasonably priced apartments.
  • Downtown Deira: reasonably priced low-rise apartments are readily available in this neighborhood, although if work or schools are located on the opposite side of the creek the traffic can be a nightmare.
  • Satwa: a nicely located area situated between Sheikh Zayed Road, Bur Dubai and Jumeirah, offering low-rise apartments and reasonably priced villas. It is believed that zoning regulations will change for Satwa in the near future allowing development of high-rise buildings.
  • Jumeirah / Umm Suqueim: ideally situated near parks, the beach and schools, this is probably the most popular area for the European and Local communities, offering upscale villas and townhouses.
  • New Dubai Developments: including The Greens, Arabian Ranches, The Lakes, The Meadows, Emirates Hills, and Dubai Marina and located near Dubai Internet City. Many offer gated, family friendly communities with access to swimming pools and other recreational amenities.

Those searching for Dubai rental property can find extensive listings in the local classifieds or direct from property developers such as Alpha Properties, Arenco Real Estate, Cluttons UAE, Better Homes, or Century 21. The search for the perfect place to lease can be time-consuming and may seem overwhelming. Understanding UAE rental laws, using only a reputable real estate agent, and investigating the best possible locations are all part of making the hunt for an apartment or villa in Dubai successful.

How to Find the Perfect Apartment for Rent

apartment-for-rentWhether you’re a young adult about to live on your own for the first time or you’re going from a mortgage to a month-to-month rental in a new area, you need to be prepared before starting your apartment hunt. Finding the right place at the right price is no easy task, but it doesn’t have to be too overwhelming. After you figure out what you can afford, it’s simply a matter of finding the right apartment, agreeing to lease terms, and then signing on the dotted line.

To find an ideal apartment or rental home – and to make the search go smoother – there are a number of steps you can take to ease the burden and expedite the process.

Tips to Find a New Home to Rent

1. Determine Affordability

The U.S. Census Bureau suggests that your monthly rent should not exceed 20% of your monthly income – 30% at the most. For instance, if you bring home $4,000 each month, you should cap your search at around $1,200. Taking the time to update and polish your personal budget before you start looking for apartments can not only help you figure out your price range, it can also help you identify areas in your personal finances where you can cut back if you want to spend more on a pricier apartment. After scrutinizing the numbers, you may decide to drop that costly TV subscription to allow you more wiggle room in your budget for the right place.

Create your budget with a simple spreadsheet or an online service like Mint or PearBudget. Detail your income and expenses down to the penny, from fixed obligations such as phone bills, student loans, and car payments, to variable month-to-month costs such as groceries, entertainment, and clothing. You can lower your food bills by clipping coupons, and save money on your cable, smartphone, and Internet by bundling all three services under one provider. These small moves can really add up, giving you the funds you need for your future housing.

2. Lower Rental Costs

There are several things you can do to find a lower monthly rent:

Look Outside an Urban Area. While living in the city center may seem like a priority, it doesn’t mean much if you can’t afford the rent. Instead, check out apartments in the suburbs within a conveniently commutable distance to work.
Consider Transportation Costs. Urban areas generally require a smaller transportation budget, since you can likely take public buses or subways to get around. However, you still need to take transportation costs into consideration, whether it’s a bus pass or gas money, if you choose to live away from the city center.
Get a Roommate. You can slash the price of any apartment in half simply by sharing it with someone. You need a landlord’s approval before doing so, but having a roommate can significantly reduce the financial pressures of renting. Just make sure you have a written agreement with your roommate laying out all obligations.
Check for Subsidies. The U.S. Department of Housing and Urban Development (HUD) routinely offers subsidies for those with lower-income jobs who may not be able to afford rent. Search the HUD website to find affordable housing or see if you qualify for subsidies.
Think Small. Square footage comes at a premium in an apartment, particularly in the number of rooms. Going for a studio or one-bedroom may mean missing out on some space, but you make up for it with big month-to-month savings. Assess how much space you really need based on your lifestyle, visitors, pets, and storage. You may find that you’re happier paying less for a smaller place.
Negotiate. Unless you’re apartment hunting in a popular area with little renter turnaround, many landlords are amenable to negotiating. Check out the rates for comparable apartments with similar amenities in the area and bring your research with you to strike a better deal. You can also offer to pay rent for a longer chunk at a time (a landlord may lower the rate if you pay three or six months at a time) or choose to sign a longer lease to score a better deal overall.
3. Add Renters Insurance

For some, renters insurance is a choice, but for the vast majority, it’s required by a landlord. In either case, you should add it to your budget. It covers losses in case you suffer a break-in, and it also helps cover your landlord if you do damage to the property. A landlord insures the building, but renters insurance covers what’s actually inside it.

Luckily, it’s pretty affordable. Rates depend on geographical location, amount of coverage, and amount of rent paid, but, on average, you can expect to pay around $500 per year on $25,000 worth of coverage – about $12 to $15 per month.

for rent sign

4. Run a Credit Check

Many landlords run credit checks to see if there are any glaring issues with potential tenants, such as unpaid bills or bankruptcy. You can also expect a background check. Although landlords run these checks prior to approving you, it’s actually a good idea to request your own free credit report on your own. That way, you can comb through to check for any potential roadblocks and contest any errors you may find.

All three credit reporting agencies (Equifax, TransUnion, and Experian) are required by the FTC to offer one free credit report each year. It’s no cost to you and won’t affect your score if you request it, but you do need around three weeks to actually receive the report.

5. Start Hunting

Don’t leave apartment hunting for the last minute. In a perfect world, it should start around three months before your “must move” date. Many current tenants have to let their landlords know of vacancies in advance – the majority of areas require renters to give at least 30 days’ notice, but plenty give more.

While the features you want in an apartment are specific to you and your lifestyle, there are a several basic things you need to look for:

Price. Avoid looking at apartments outside of your budget. Landlords are unlikely to discount the rent, and you could end up either overspending or being disappointed when you can’t afford the apartment of your dreams. Instead, set a firm number and only look for places that fall within your budget.
Transportation. If you’re currently without a car, check every potential apartment’s proximity to public transportation. An apartment may be well-priced and in a great neighborhood, but if you have to spend most of your time walking or calling taxis, it might not be so attractive. What’s more, you need to factor the cost of transportation into your budget for a realistic picture of how much an apartment really costs.
Convenience. Choosing an apartment that is conveniently located can make your life a lot easier. Look for a place that’s close to work, shopping, transportation, and amenities such as laundry.
Safety. Not only should an apartment be in a safe neighborhood, landlords should make an effort to ensure their tenants feel safe inside. Proper locks on each door, private entrances, and security should all make you feel better about renting.
6. Gather Your Down Payment

Many landlords require a down payment, which usually includes the first and last month’s rent, along with a security deposit equal to one month’s rent. Therefore, if you’re forking over $800 per month for a new place, you need $2,400 ready to go when you actually sign your lease. Your first and last month’s rent is obviously retained by the landlord, but your security deposit is generally returned if you leave the property in the condition you found it. Otherwise, it can be applied to maintenance, repairs, and cleaning.

While you won’t need to give a landlord a security deposit until you sign the lease, it’s always a good idea to have the amount saved up in your bank account. That way, you won’t lose out on a potentially perfect apartment to a better-prepared renter simply because you didn’t have the money.

rental application

7. Prepare Documentation

Landlords take a substantial financial risk if they don’t thoroughly check out each applicant, so in addition to credit and background checks, some may require extra documentation. Gather the following papers and keep them on file in advance of your search:

Letter of Employment. A landlord needs to know you’re gainfully employed and able to make monthly payments based on your salary. This letter should be printed on company letterhead and include an affirmation that you work there, the duration of your employment to date, and your monthly or yearly salary. It should be signed by a supervisor.
Pay Stubs. These corroborate the information in the letter of employment.
Tax Returns. If you’re self-employed, tax returns from the last couple of years should suffice in place of pay stubs. You may need to offer extra explanation as to what you do for work and the amount you make annually.
Reference Letters. A landlord wants to know that you’re a great tenant. If you’ve rented before, ask for reference letters from past landlords explaining that you paid your rent on time and cared for the property. If you’ve never rented before, ask for letters from previous employers or acquaintances who can confirm that you’re responsible and honest. Just make sure they’re from people not related to you – glowing recommendations from your mom won’t do the trick.
8. Talk to Tenants

While you want to make a good impression on the landlord, you also need the landlord to make a good impression on you. The best way to find out if you really want to live in a certain property is to talk to past and current tenants. In general, you want a landlord who is courteous and safe, and who takes care of maintenance issues promptly. Ask about tenant turnover, infrastructure issues, and response times to complaints.

This is also the ideal time to ask about living expenses in the area, especially if you’re moving to a new neighborhood. Current tenants can give you a rundown of what they spend on transportation, utilities, and entertainment, as well as information about the neighborhood, such as where to eat, the location of specific school districts, and the best local amenities.

9. Do a Walk-Through

Don’t sign that lease just yet. After everything checks out and you’re happy with the apartment, location, and landlord, you should do a final walk-through before signing on the dotted line. Because previous tenants may have caused damage or maintenance issues, you need to be sure that you won’t be responsible for any issues that weren’t your fault.

Come prepared and check for the following:

Turn on lights and faucets, and flush toilets throughout the apartment to make sure they all function properly.
Check for rodent or insect infestation, particularly in cupboards and storage spaces. Chew marks or droppings are a major red flag.
Bring along a cell phone charger and plug it into the outlets to make sure they all work.
Check smoke alarms and look for fire safety equipment, such as an extinguisher in the kitchen.
Open and close and lock and unlock doors and windows.
Turn on all included appliances to make sure they’re working.
Examine floors and walls for any type of damage. Carpet, hardwood, linoleum, drywall, and tiles should all be inspected.
Take pictures of any problem areas with a digital camera and show them to the landlord. Save the file so if there are any discrepancies with maintenance or problems getting your security deposit back when you move, you have evidence to prove you didn’t cause the damage.
final walkthrough

10. Read Over and Sign the Lease

Lease agreements vary depending on time frame and contract terms.

Periodic Leases Work Best for Shorter Durations. With a periodic lease, the landlord acknowledges that your situation could change from month to month, allowing you to pay and renew your lease monthly. However, these leases can be more expensive, and because you have to renew each month, the landlord reserves the right to raise the rent at any time. You need to give your landlord 30 days notice before vacating the apartment, so this arrangement is best only if you truly need short-term living space.
A Fixed-Term Lease Is Most Common. Contract with your landlord to stay in the apartment for a specific period of time – three months, six months, a year, even two years. In many cases, if you choose to move out, you’re still responsible to pay for the time left on your lease, whether you live in the apartment or not. This can mean locking in a lower rate, though, which is ideal for longer-term living situations. Occasionally, landlords let renters out of their lease if a penalty is paid, so be sure to discuss contingencies before you sign.
Subleases Are Three-Party Lease Agreements. They often occur when a renter needs to vacate an apartment, but is still in a lease with the landlord and responsible for the rent. With a sublease, the original renter finds another resident to take over lease payments until the term is up. The renter then pays the landlord for the duration of the contract. Subleases must be approved by the landlord, so if someone offers you a great deal on the down-low, it could be suspect.
Whatever the term, your lease includes articles such as security deposit amount – and conditions under which the deposit is retained by your landlord – terms for rental, how to inform your landlord you’re vacating the property, and behavior and issues that could result in eviction, such as late or non-payment, destruction of property, or anything else the landlord deems unacceptable.

While the price of a rental may not be negotiable, the lease often is. Sometimes, you can negotiate the cost of utilities or get a guarantor to co-sign if your credit score is less than perfect. You may also be able to negotiate on price if you need to go outside for amenities, such as laundry, or pay more for transportation. Depending on the apartment’s desirability and location, as well as the current status of the housing market, you could potentially get a break if the landlord really needs to rent the space.

What To Look Out For When You Rent Property

Or is there? See, while it’s easy to spot a flat or house that looks like it could do with a lick of paint, there are lots of other issues to consider when you rent property.

Use this simple guide to assess your potential new home when you look round it.

Do some research before you view: Even though you are only renting, you should use the same tricks buyers do to check out a potential new home. Visit the area at different times of the day, on a weekday and at the weekend. Is the street a shortcut for angry drivers during rush hour? Do local school children gather around the shop on the corner? Is the street the main route home for local clubbers at 2am every morning? These factors don’t matter so much when you rent property, but could affect your quality of life forcing another move in a few months’ time.

Take someone with you to view the property: Never look at a potential home on your own. Because while you’re wondering if you can live with the pink bathroom, your friend will be finding the real flaws. It’s also a sensible security measure, especially if you are meeting a private landlord, rather than someone from the local property shop.

Compare the property to your lifestyle: Got a car? Got a driveway or parking space for it? Where are the nearest shops or other amenities? When you rent property it’s easy to overlook these things, yet they’re just as important as when you actually buy a house. Don’t forget to look into public transport and the extra costs of living there, such as council tax and any residents’ parking charges. And have a think about how much stuff you have and whether it will all fit in your new home. It’s also worth checking if pets are allowed when you rent property.

Is the property in good condition? Even though it’s not your responsibility to repair the fabric of the house, it will be a lot less hassle to ensure it is in good nick before you move in. Once you have signed a lease there is little incentive for the landlord to undertake significant repairs. Use their desire to rent property quickly as a lever to get major projects completed. Check the roof and gutters are sound, and look at the doors and drains carefully. What kind of condition is the garden in – and whose responsibility is it to keep it well maintained?

Can you decorate? Some landlords want to keep control over their interior, some are happy for you to slap paint anywhere you want. Check before you agree to rent property.

What horrors await? Keep an eye out for some terrors inside the property. Are there mouse traps or droppings? Check for signs of damp in every room, including flaking paint and loose wallpaper.

Check the building is safe: There should be at least one working smoke detector in the property; many owners provide fire extinguishers or blankets. The landlord must get a gas safety inspection by a CORGI registered engineer once a year. Does the electrical wiring look in good condition – or at the very least do switches it look like they have been installed within the last few decades?

Can you have a nice bath? Bathrooms are often problem areas when you rent property. So check all taps work OK and you can get hot water on demand. It’s also worth road testing the toilet and checking the sinks and baths aren’t damaged or cracked.

The 5 Most Important Priorities for Choosing an Apartment on Rent

Renting an apartment is very common nowadays. But before choosing, you need to know some important things to look for. These things matter the most when you are renting a new place, so you should give them a priority before finalizing one. From convenience to cost, everything matters for your search.

Here is a list of five things to consider before renting an apartment.

The lease terms

The lease is the most important feature of an apartment. All the other aspects entirely depend on the lease. The contract should clearly state the price, previous damage, lease term, and amenities. Read the contract carefully before signing and make sure that you understand every detail thoroughly. You should know about what happens, just in case you are not happy with the neighbours and also the cost of breaking the lease before the actual time period.

The neighbourhood

Before signing the lease finally, knowing about the neighbourhood is very important. In order to check out all of these things, opt for an internet search. To know about the level of noise and usual activity of the city, take a round of the area at different times – during the day and at night. Talking to the neighbours is also a good way to know them well. Do a proper research in order to avoid moving to a crowded town or a retirement community unknowingly.

The pricing

Compare prices of all the properties in areas where you plan to rent an apartment. Costs of your previous apartments are also needed to be compared to, just get an idea about the right price. You would even have to cut your monthly budget to get an apartment in a nicer place.

The existing damage

Take note of the damages that are visible in the apartment while touring it and report the same to the landlord. Before starting the lease, make sure that all the damages are already fixed. If the landlord does not fix the damages, then ask him to lower down the amount of your rent. Mention all the defects and damages to the landlord before signing the contract.

Amenities

Consider the included amenities of the apartment before finalizing the same. Make sure that the apartment has a parking spot, dryer and washer. Look for the nearest laundromat in case your landlord does not provide on-site laundry. If you are not getting all the required amenities, then ask your property manager for the alternatives or a concession in your rent.

Thus, consider all the above-mentioned priorities in order to rent a perfect apartment that will be worthy of your investment.

Property for Sale and Rent – All About Property Agents

Rent-Vs-Buy-Matues-RealtyHow does a property agent earn money? He or she earns by linking up the two interested parties and charging them a commission when a deal is confirmed. For property sale, the commission is usually charged to the seller, whereas for rentals, the commission is charged to both parties involved in the transaction. How much does an agent charge? He or she generally calculates their fee as a percentage of the selling price and as part of the rental.

The seller of a property usually leave his or her keys with the agent so that whenever there is someone interested in it and wants to take a look, the interested party can contact the agent directly. This will save a lot of hassles for the owner.

A lot of home seekers like to seek out property agents for their good services, as well as getting properties quick. As the agents are very familiar with the real estate industry, it makes perfect sense to approach them to get an idea of the going rate for properties in that region. They will generally know the prices of various real estates of different types and at various locations in a particular region.

The real estate seller can possibly get a few thousands more for his or her property by using the sound advice provided by an agent. A good agent will analyze the needs of a home buyer or tenant and provide suggestions on what kind of home could be available to them within their budget. By servicing both the buyer and seller, property agents can earn commission by help selling the house, and if they make the buyer happy, they too can earn a good reputation and hence more businesses in the near future.

However, it is worth noting that property agents work on seller’s behalf. So, beware if they are trying too hard to sell a property. To find trustworthy agents, you can search on the Internet and locate website which lists properties in your region. For each property listed, there is usually an agent in charge of it. Some websites offer review and testimonials of the agents for the transactions that he or she has done. This will give you a rough idea whether the agent is trustworthy or just out to earn commission.