Tuesday, 26 July 2016

5 Things to Know Before You Say Yes For that Property

Buying home is a big decision and needs to be well thought. Here are 5 points to keep in mind before you agree to buy a house.
1.      Is Buying the Final Option
Whenever there’s big money involved, you need to eliminate all other options. And when it’s about buying a house, the big is really BIG! This money might affect a lot of your plans about you and your family. Renting might be a better alternative if you’re not sure yet about buying.
2.      Don’t Just Buy for Today
Once made u you mind about buying, think about the plans you have for your future. This is necessary for you to know your expectations and constraints and help you choose the property accordingly.
3.      Help is Always Good
You can’t know everything. A professional help by an estate agent is a smart choice. But do your homework before picking up the agent that suits your interest best.
4.      Know What You’re Agreeing To
Make sure you know about the contract and all its points. The estate agent and attorney come really handy in this case.
5.      It’s Expensive than it looks
There are other expenses apart from the cost of purchasing. You need to have an idea of estate taxes insurance etc. to know the actual payable amount.
For more information about Real Estate keep visiting Accrue Real Estate.

Friday, 1 July 2016

Becoming a Landlord a tough Job

Being a land lord is a much respected business but in term of responsibility it is hectic, time taking and caring every time when it needed.
Through it is a money making idea to rent your property or investing in a property for dealing as landlord. Here I am discussing basic problem we face as a landlord.

If you are dealing as a landlord you need to buy a property through it needed capital to invest. There is also fewer risk factor in buying home. i.e.
If you buy a damaged or out-of-date home, you must need to invest on repairing as soon as possible before renting.  Damage can be foundation, plumbing, or wiring and that can cost thousands of dollars to repair.
But even if you buy a property in good condition, you may still need to renovate

Damage cost

When it comes to landlord, two things in life are inevitable: death and repairs. You should to be prepared for both at any time.
The thing about repairs is they creep up on you suddenly and often cost a lot. For example, if your tenant calls at 11:30 pm at night to tell you the water heater has busted and is flooding the house, you have to immediately send an emergency repairman to shut off the water and dry out the carpet.
Since it’s after hours, he’ll charge you more than usual an hour for each hours he is there.
Be prepared to spend your free time changing light bulbs, replacing air filters, weeding yards, and spraying squeaky hinges.



Ask yourself if you’re comfortable confronting your tenants before you start renting. Keep in mind that you’ll have to make judgment calls as a landlord. For example, imagine you’ve had a tenant for six months and one month he doesn’t pay the rent. You don’t hear from him for a week. Finally, you decide to call and the tenant tells you he won’t be able to pay for another 7 days.
Make sure you’re comfortable making this kind of decision and sticking to it.

Dealing with Problems

Most of your tenants will pay the rent, treat the property like their own, and keep the neighbors happy. But at some point, you’ll inevitably have a problem tenant.
If you’re going to be a landlord, you’re going to have to handle tenants fighting with other tenants, tenants doing damage to your investment, and tenants who don’t pay. You’ll need to know the eviction laws in your state well, and be prepared.

Finances control

Landlords need to look at property management as a rotating door. Tenants come in, stay their lease, and then go. While some tenants will renew a lease, most will move on to the next place when the lease is through and leave you with an empty apartment.
In down times, the apartment could sit empty for several months. To be a successful landlord, you’ll need to learn to manage your finances in times of feast and famine.

Your property Caring

As an owner of property, you always have the duty to keep your property properly maintained and in good working order so as to avoid contributing to potential mishaps. By keeping your units safe, no matter what it takes, you greatly decrease your chance of trouble in this area.