How to Find Your Ideal Property to Rent

With many young people being priced out of the sales market, more and more UK residents are renting than ever before. This is good news for landlords and estate agents, but can make life difficult for those of us caught in bidding wars for the best and most conveniently located homes.

With such fierce competition, it can often feel like applying to rent a property is similar to that of a job interview. The application process is vast, and renters are vetted more thoroughly than ever before. So, if you want to find your perfect property – and make sure you get it – you’ll need to get organised.

Firstly, it’s important to find an estate agency you can trust. You’ll want to avoid paying any hidden fees, as these can ramp up your moving costs considerably. It’s best to look out for an agency that is part of a tenant protection scheme, ideally one that is registered with the Property Ombudsman. This will ensure your rights are protected.

It’s a good idea to do a bit of research before you settle on an agency to help you find your new home. There are plenty of review sites online where customers go to provide honest accounts of their experiences. Here, you’ll get a general idea of which companies you can trust in your area, and which to avoid altogether.

Once you’ve settled on an agency, it’s best to familiarise yourself with their website. The site should display contact information, details about the company and their experience in the industry, as well as their terms and conditions. It’s a good idea to read these through now so you understand what you’re signing up for – although bear in mind that fees will vary between listings.

When you’ve assessed this information, it’s time to start browsing rental properties. Normally, a property search will enable you to enter criteria that are relevant to you, restricting your results so you’re not bombarded with properties that are outside your area or price range, so you’ll need to think carefully about what you’re looking for.

Consider how much rent you can afford to pay, whereabouts in the area you want to live, and how many bedrooms you’ll need. Some sites will pose other questions to, like whether you need a car parking space, want to be close to a school, or need access to public transport.

If you’d rather speak to someone in person about your property requirements, registering with your chosen agency is a great way to kick off your search. Find the company’s details online and give them a call. Remember to tell them exactly what you’re looking for so they can select the best properties to meet your criteria.

If you’re a student or own a pet, it’s a good idea to let your estate agent know in advance, so they can rule out any properties that may not be appropriate. Landlords can be quite selective, so it pays to bear this in mind when you apply.

Similarly, it’s a good idea to tell your estate agent if you are receiving any benefits at all, as some landlords won’t accept this as a form of payment. Likewise, most landlords don’t allow smokers to live in their properties, so it’s worth considering switching to E cigarettes if you’re desperate to get into that property!

It’s advisable not to put all of your eggs in one basket, as properties tend to get snapped up like hot cakes on the current market. Instead, make a shortlist of the properties you like, and agree to view each of them in turn. Remember, some properties can look very different to their photographs so viewing them is always recommended.

Why It’s Important to Get a Property Manager

It’s inevitable that sometimes, we’re bound to make a choice of keeping something or letting it go. Let’s say for example, a house. If it has all your childhood memories, it would be pretty difficult to sell it. However, a house left unoccupied is a liability. You will have to pay for maintenance and it’s not even earning. You have to set your mind and put your sentiments aside so you won’t lose the property for good. The best way to keep it running in good shape without selling it is to have it rented.

Running a rental property requires time and skill. Pretty much like a doctor, not everybody is knowledgeable enough to get himself around property management without anyone else’s help, or even if he can, doesn’t have the luxury of time to do so. This is where you will need a property manager to run the business for you.

Generally speaking, the advantage of having a property manager is that you’ll never have to worry about anything again. You own the property and you’ll get your money every month clean and accurate. Property managers know what to do, how to do them, and have them done in a timely manner. They know exactly what you need. They have full knowledge of the legalities of renting a property and they know where to get tenants. They will advertise, arouse interest, assess a tenant and get your place relentlessly occupied every month. They also know everything about inspections and when to do it, as well as collect rent from tenants when it’s due. I can only imagine how daunting it is for someone not specializing in property management to do of all of these.

Now if you think you can pull it off yourself, you’re welcome to try. I’m not saying you can’t, however, if you’re doing something else, this whole property management thing will dramatically slow you down. You will be compromising both endeavors as you try to be a super hero and do them at once. Whereas if you hire a property manager, he will ensure that your place is running perfectly round the clock. Property management can be quite painstaking for it rips off a lot of your time-I need to inspection this, I have to maintain that, I have to collect rent next week, occupant X has not paid his dues for three months now and I have to give him an ultimatum, I have to get rid of this tenants because he just lost his job which means he’s incapable of paying the rent etc. Doing this on top of something else, or doing this while you permanently reside in another area (geologically impractical) means you cannot run your property all out and is prone to suffering from months of vacancy.

Moreover, tenants will want to constantly see the person running their community in order for them to trust this person. It would be awkward to call or approach someone you’ve never met, or rarely meet for concerns and what not. A property manager will manage your property full-time, and will dwell in the community which will eventually make him visible to the neighborhood.

Trends in Property Business

The property business today has become an ever growing business. The number of real estate agents dealing in the selling, buying, renting and advertising of property is continuously expanding. The online real estate business is the latest market trend in property business. There are several sites available which make the procedure simple and easy for the people to search for their property requirements. There is rapid demand for real estate agents as more and more people want to invest in property whether it may be buying a house or land or an official site and they do it through a reliable agent for secure investments and transactions.

The rental search today is just a few clicks away as one can enter the desired criteria of property which is required for selling, buying or renting. There are options given for the type of property one wants to buy, in which country, state or city, the size of property or the number of rooms available. The status of the property can also be inquired whether it ready to move in, furnished or for long term or short term rents. The sellers can also advertise their property in various real estate websites to increase their visibility and make their property known to countless people who are searching for property for various uses throughout the world with in no time.

The use of web to promote the property business offers a wide platform to the agents to reach out to a large number of people and at the same time the customers can contact a number of agents throughout the world. People can easily find the property that meets their criteria in all respects along with the pocket by narrowing down their search on the information available on World Wide Web.

Why Your Real Estate Agent Hasn’t Sold Your Property Yet – Confessions From an Ex-Real Estate Agent!

If you have been bombarded for years with all sorts of promises from real estate agents, have finally listed your property with one of them only to find months later it still hasn’t sold you are about to find out why.

The journey to list with an agent is long, expensive and slow. The good news is that the property industry is changing; already there is a small, growing army of non-agent property professionals who are buying and selling property throughout Australia and the world.  These people will buy your property usually making an offer within 48 hours of speaking with you. They are removing the expense, time and underhanded tricks property owners have had to endure for years. More importantly they are offering the owner a fair price for their property.

Most people phone 3 agents requesting a valuation of their property. The smarter agents will let YOU tell them the price you want for your property. The lying ones will tell you any price higher than the market value in the hope of gaining the listing. The safe ones will give you a range, something like “your property is worth between $390,000 & $450,000″. Then they advertise your property and everyone offers $390,000.

It DOES matter what price you list your property for. There are only 4 reasons your property hasn’t sold:

  1. The price is too high
  2. The agent may not be doing enough to promote your property
  3. Something is wrong with your property
  4. Your property isn’t prepared for sale

Solutions to these problems are covered in other articles.

You most likely have added about 7% to the price of the property because you have worked out the agents and the marketing costs, and then added them to your asking price. Most people prepay advertising. Most of this cost goes to a couple of sentences about your property in a newspaper with their company name plastered all over the page. Interestingly enough there are statistics that show newspaper advertising is quickly diminishing, yet the property section seems to be growing.

Your problem now you have jumped though all the agents’ hoops are that you need to attract a buyer, signed an agreement that is totally in favor of his agency and has probably given you very good reasons why to sign a sole agency listing which will last for 2 months where only he can sign the document.

HANDY TIP: Sign the sole agency agreement if you have to however in the conditions add that you can sell the property to a private buyer is a friend or someone like me comes along.

The price you have your home for sale is $400,000. Here is what you want from your buyer:

  • 20% deposit, the bank will pay the rest = $80,000
  • 5% for stamp duty, fees, insurance etc = $20,000
  • Total amount of $100,000 in cash either sitting in their bank account or in equity of another property.

Can I ask you, how many of your friends have $100,000 just waiting to buy their new home? Out of 100 buyers who want to buy your home, what % do you think have the ability to buy your home? Put you in the buyers position, they are renting, have kids and paying their way through life. Even on a good income it’s would be extremely hard to save $100,000.

Do you have $100,000 saved in your bank account; could you afford to buy your own property? Let’s say I can show you how they only need $30,000 or even less to buy your property, do you think that will increase your buyer pool?

Of course the answer is yes. The less deposit your property requires the more buyers you will attract. We find buyers a lot faster than agents because they normally only require a small deposit from the buyer, sometimes the deposit is so small the purchaser can put it on their credit card.

It’s the great Australian dream to own your own property, however to buy a property is becoming harder with Gen X & Y being resigned to renting for the rest of their life. If you could sell your property today for a great price, and have no agent fees would you give me some terms that we could both agree on?

Commercial Property Solicitors – How Does Commercial Property Law Differ From Domestic Conveyancing?

Though they both deal with the transfer of property, the issues involved in commercial property law are very different to those associated with domestic property. In a domestic situation the legal process is fairly standard. Property solicitors are simply required to oversee the exchange of property from one owner to another. Though it may not seem so at the time, this process is relatively straightforward.

The commercial property arena is significantly different. The number and importance of the roles that commercial property solicitors are required to fulfil are a lot more varied. Firstly, the legal requirements that companies have are a lot more diverse. It is equally common for companies to want to buy, sell and lease buildings and land which are very different from those dealt with by domestic property solicitors.

Commercial property solicitors need to deal with anything from warehouse leases to agricultural purchases. This means that they must not only be familiar with the legal implications of the transactions they oversee, but also have a good understanding of the property requirements relevant to a number of different corporate sectors.

Another difference between commercial and domestic property exchanges is the importance of timing. In domestic property exchanges there is a lot of red tape which means that exchanges can take a long time to go through. In a commercial environment these delays could have huge financial implications. One very good reason to use specialist commercial solicitors is their ability to work to a deadline. Due to their experience in the particular field of commercial property law they will know the importance of completing a sale or lease contract on time. Additionally, their experience will enable them to utilise various methods to ensure that your deadlines are met.

As with most legal disciplines, using a specialist has many advantages. Compared to a non specialist solicitor, commercial property solicitors will be tuned into the specific needs of their clients. They will understand the importance of deadlines and communication. They will also understand the greatly amplified financial implications of any hold ups or problems for your business. As a result you are likely to receive a much better service as well as greatly improved results. If your company needs to buy rent or sell a property then you will want it done as quickly as possible, with the least amount of stress. You will also want the process managed by someone you can rely on. By far the best way to achieve this is by using professional commercial property solicitors.