Are you seeking for financial help to renovate your sweet home? Then waste no time and consider the home improvement loans UK. Designed to provide finance to meet requirements of UK residents is related to improvement of home.
Cars lose value quite fast, as well as anything that can lose its condition of being brand new while you are waiting for an opportunity to sell. Models are outdated in no time. Definitely cars or TV’s are not the thing to invest on. The only asset that permanently increases its value is land, even while you sleep.
The key word here being “quick”. The only way for investing in real estate for real quick profits is property flipping, or flipping real estate. It does take time and resources to find the right deal . The deals are out there though, foreclosures, seized properties etc being the best places to look, and the person who finds them is the one that will cash in. Few people have the time or resources to find truly under market priced property. Buyers all want a good deal, so you just have to find a “great” deal in which you can give the buyer a “good” deal and still make a nice profit for yourself for your smart work.
You’ve heard about short sale real estate investing, but you aren’t sure what all the hype is about, because you don’t know anyone who has actually done one. Everyone on the internet is talking about them, in the real estate investing forums, and in your investor club meetings, but still the whole thing seems just beyond your grasp. Read on.
The number of mortgage companies and websites has grown rapidly over the past few years. And while such a development is great for mortgage-seekers, it is also dangerous to prospective borrowers. Learn how to identify the legitimate from the bad, and protect your identity and privacy in the process.
Image the following situation: you are home with your children while your spouse is away when you hear a knock on the door. It’s someone who saw your yard sign while driving by and wishes to take a tour of your home. You are now faced with a situation that many unrepresented sellers are faced with daily – do you turn away a potential buyer or do you let them in and perhaps endanger the safety of your family?
Regardless of whether you are selling or renting as owner or agent you can improve you chances of a sale by making sure you do most and ideally all of these key points, which I have found work best for both me and thousands of other owner/agents over the years.
A new building trend in areas where space is tight and land is expensive are condominiums that are being either newly built or incorporated into existing high-rise buildings. Developers are embracing what are being referred to as “vertical neighborhoods” to meet demand for downtown living at a time when undeveloped parcels of land are scarce.
There is major trend in the condo buying world of purchasing units in a building long before they have even started the construction. There are some great benefits to the purchase of pre-construction units. Let’s examine some of these benefits in closer detail.
Each month your property manager will send you a monthly report. Each company has its own format, using different property management software and internal processes. However, you should receive the following:
A one-page summary that highlights key issues about the property, e.g., one tenant is 30 days behind on the rent.
Income & expense statement. This should be a short statement showing the base rent, Common Area Maintenance (CAM) charges for each tenant, rent and CAM payments received from each tenant. It also shows maintenance expenses and management fee; so you may quickly determine if each tenant has paid rent or not. This statement itemizes all of the income and expenses which may include:
Late fee: when the tenant pays late, he has to pay the rent plus the late fee. The late fee amount is normally stated in the lease. Normally, when the tenant pays late, the property manager has to do extra work to collect it. The amount of work depends on whether the tenant is too busy to mail the rent check, does not have the money or simply does not want to pay. Typically, the property manager is entitled to the late fees as an incentive to collect the rent.
Management fee: this fee is usually a percentage of the monthly income from the property that both you and the property manager agreed in the management contract. If you have a very stable property with the same income every month, then the management fee is the same. Otherwise, it varies from month to month.
Leasing fee: you typically see this when there is a new tenant or a renewed lease.
Security/Fire Protection: your property may have fire & security monitoring services.
Electricity: this is most likely for parking or common area lighting.
Water: this is for both drinking and irrigation.
Disposal: this is for garbage collection paid to the city.
HVAC repairs & maintenance: this is the maintenance costs for Heating, Ventilation and Air Conditioning. Usually, there is a service contract for HVAC whereby the maintenance company will inspect the HVAC twice a year: once before the winter and once before the summer. So, you may receive the service bills only twice a year.
Garbage dumping: sometimes people dispose their unused furniture, mattress on the property because there is no one around at night. The maintenance crew may have to clean up these things. Normally, you or the property manager will want a picture of the dumping to make sure that it is a legitimate bill.
Landscaping: this is often the biggest expense item. Typically, the landscaper signs a one year contract to maintain the landscaping on the property, such as mowing the lawn, trimming the trees/shrubs, and planting flowers. Thus, the monthly payment should be the same for the whole year.
Sweeping: the parking lot is usually swept daily, either late in the evening or before the tenants open for business. In the winter, there may be an expense for snow removal.
Steam cleaning: the concrete sidewalk is normally steam cleaned once a month. This is done by the same company that handles the sweeping and landscaping.
Roof maintenance: the roof of a commercial building is often flat and requires regular maintenance especially during the rainy season. The roofer may charge each time he is called to fix a roof leak. So, this is not something you see on the statement on a regular basis.
Supplies: there are various things on the property that have to be replaced periodically: light bulbs, trash bins, sprinklers, etc.
Bank charges: sometimes the tenants pay by check with non-sufficient funds. The bank will charge a fee each time the check is bounced.
Legal fees: you may see this if the property manager has to evict a tenant.
