Developing Our Farm

Furnished Apartments | 3 Vital Factors Every Potential Tenant Must Know

Posted by on 9:38 am in Uncategorized | Comments Off on Furnished Apartments | 3 Vital Factors Every Potential Tenant Must Know

It’s a well known fact that the real estate rental market tends to favour the landlord over the tenant. But that doesn’t mean that a tenant is without any rights. Landlords of furnished apartments have certain responsibilities like ongoing repair and offering the apartment in a clean state. Before signing a lease agreement with your landlord, be sure to know your own rights and consider these vital factors involved in renting out furnished apartments. Check Furniture Closely… And Point out Blemishes in Writing As a potential tenant on the premises, you have the right to inspect every piece of furniture thoroughly, and you must point out any faults in advance in writing. This way you will avoid any future misunderstandings and complications. For example, a couch with a tear on one side should be written down in your property inspection report, so there are no quarrels after your tenancy agreement ends. Similarly, a broken chair leg should be accounted for in the report. Far too many tenants have paid the price for blemishes that occurred in the home before they even moved in. Being clear about faults in advance will ensure that you get your entire deposit back without any deductions at the end of your lease term. Remember verbal agreements are easily forgotten after a year or more, so be sure to have everything in writing to avoid any complications. Monitor All Appliances to Ensure they are in Working Condition Usually furnished apartments come with everything from a refrigerator and microwave to a washing machine and oven. Keep in mind that the rent you’re paying covers the cost of all these items advertised, so ensure that every appliance in the home is in good working condition before signing on the dotted line. It could be difficult to get the landlord to fix an oven a few weeks after you have moved in because you forgot to inspect it. If you find that any appliances are not in working condition, make sure the landlord gets it fixed or replaces it before you move in. It pays to be an informed tenant, because you certainly don’t want to pay the price of repair when it isn’t your responsibility (yet). Get a Proper Checklist of all Items Provided with the Furnished Apartment Every furnished apartment has a different number of items provided by the landlord, so be sure to get a proper checklist that covers every single item — even if it means listing down small items like the number of utensils and plates. Make sure the landlord covers every item in his unit without leaving out any details. This helps to avoid any confusion in the future and will help secure your deposit refund without any possible deductions. Check out apartments like Adelaide Dresscircle Apartments in your area if you’re interested in moving to a furnished...

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Real Estate Properties | 3 Smart Strategies To Obtain Return Value From Your Home

Posted by on 10:22 am in Uncategorized | Comments Off on Real Estate Properties | 3 Smart Strategies To Obtain Return Value From Your Home

Buying a real estate property is perhaps the shrewdest and most expensive decision you’re ever going to make with the average cost of a dwelling in Australia hovering at $563,100. Landlords should carefully consider their choices to ensure that they get better return value on their homes in the form of rental cash flows or by reducing outgoings. If you’re looking for ways to make your property pay for itself, follow these smart strategies. Rent out a Room If you’re thinking of ways to increase your income stream, why not rent out a room in your real estate property? Renting out an additional room is a creative way to pay your bills without worrying about them eating into your income. You can even use the money to offset the cost of your mortgage or to pay off your credit card debts. No matter what you decide, the added income from renting out a room will help you take care of certain costs faster. For example, you can claim tax deductions for associated expenses from your rental income, such as wear and tear, and interest on home loans. Install Energy Efficient Appliances and Lights Replacing your old appliances and lighting fixtures with modern energy efficient solutions is a smart long-term strategy to make your home pay for itself in the form of reduced energy bills. For example, good quality LED lights can reduce energy consumption by up to 50%, making them a smart and energy efficient lighting choice. Good insulation also helps to lower energy bills, so consider installing curtains or blinds on windows to prevent heat from escaping out during cold months. Similarly, shading prevents heat from entering the house in summer to reduce air conditioning bills. Grow Your Own Vegetables and Fruits Growing your own fruits and vegetables in your backyard is perhaps the smartest way to make your real estate property pay for itself. You’re likely to save hundreds of dollars every month by simply growing the items you use the most at home for cooking. With a little business ingenuity, you may also find a way to sell your locally grown produce to cafes and restaurants or even at a fresh food market. Citrus trees, tomato plants, leafy greens, carrots, green beans and many herbs are easy to care for and make useful additions to your garden. Living in your own real estate property can be an expensive proposition. Luckily, these tips are designed to take the cash burden off your shoulders by enhancing return value from your...

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Why Opt for a Transportable Home Versus One Built Onsite?

Posted by on 6:27 am in Uncategorized | Comments Off on Why Opt for a Transportable Home Versus One Built Onsite?

A transportable home may be built on wheels itself or it may have special design features that allow it to be easily moved with the use of a trailer. Many people are finding that a transportable home offers them options and benefits that are very different than homes built onsite. Note a few of the reasons why you might want to opt for a transportable home versus one built onsite: 1. Temporary housing A transportable home is a good solution for when you need temporary housing or separate housing that is set away from your main home. For example, you might want to have an older parent stay close by so you can monitor their health and safety, but they may not feel comfortable living in your home with you. A transportable home can be set up on your property so that your parent has their living space but is still very close. This can also work for older kids who are away at university; they can have their separate space when they come home for vacations and holidays, but not need to maintain an apartment. Once you no longer have the need for the home, you can easily sell it and have it removed from your property very quickly and easily. 2. Environmentally friendly When you have a home built onsite, you need to dig up the area for the foundation, and once the home is constructed, it puts tremendous weight on the soil. If the home is torn down, it can take years for this environmental “scar” to heal. A transportable home, however, doesn’t need this huge hole for a foundation, and is much lighter so that it doesn’t cause as much damage to the environment once it’s erect. After you move the home, it is often easier to repair and restore the pad or site on which it sat than it would be with a standard home built onsite. Along with its weight, a transportable home is often much smaller than standard homes. In turn, it will typically need less energy to keep it warm or cool throughout the year. Using less energy means less pollution created at power plants. Since they can be moved with you, this too also means less chance of needing to harvest virgin materials to have a new home built once you want to relocate. This makes transportable homes for sale a more environmentally-friendly choice over a home built...

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Property Owners: Five Tips to Follow If Your Tenants Pay the Rent Late

Posted by on 7:44 am in Uncategorized | Comments Off on Property Owners: Five Tips to Follow If Your Tenants Pay the Rent Late

Dealing with tenants who haven’t paid the rent is one of the hardest parts of being a landlord. No one wants to be the melodramatic landlord with the twirling mustache “harassing” tenants for money, but on the other hand, you certainly don’t want to lose money on your investment property. If your tenants aren’t paying the rent on time, here’s what you need to do: 1. Contact your tenant This tip may sound obvious, but it is a step that is often overlooked by landlords who wish to avoid conflict or confrontation. However, if your tenants haven’t paid the rent, you need to contact them. Don’t stop by unannounced – it creates a precedent of disrespect, which may in turn cause your tenants to care even less and pay even later. Instead, call or email and find out what’s going on. If you truly believe the situation is rare and not going to be repeated every month, offer to work with your tenants. 2. Accept a payment plan If your tenant is relatively responsible and takes care of the property, consider working with him or her for a month or so. There are a range of payment arrangements and alternatives you could consider. For example, you could accept half the rent now and half in the middle of the month, or you could allow your tenant to trade some work on the property in exchange for a reduction. 3. Clearly outline (and write down) expectations If you accept a deviation from your standard rent agreement, make sure you clearly explain your expectations to your renter for future months. You don’t want your tenant to assume he or she can pay late every month. 4.Generate a late rent notice If you don’t want to offer your tenant alternatives or a payment plan, be sure to generate a late rent notice. Giving your tenant written notification that the rent is late advises him or her that you are serious, but it also helps to create a paper trail. Ultimately, if you want to evict your tenant, that paper trail could be essential to prove your case. 5. Hire professional help If you don’t want to be knocking at doors or sending notices about late rent, you don’t have to do it on your own. Instead, hire a property management company. These professionals know how to screen tenants carefully to ensure you avoid tenants who are likely to pay the rent late. If you do have a tenant paying late, a property management company can help you generate the right paperwork, deal with any legal issues and find a new tenant if needed. To learn more, contact a company like Calibre Real...

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What Homeowners Needs to Know About a Pre-purchase Building Inspection

Posted by on 7:59 am in Uncategorized | Comments Off on What Homeowners Needs to Know About a Pre-purchase Building Inspection

Before buying any home, an inspection is typically done. In many areas this is a legal requirement, but even if not, a lender may require it. This is to ensure that the home is structurally sound and that everything is built up to local government codes. Unfortunately many first-time homebuyers don’t realise what is, and what is not, included in that pre-purchase building inspection. They may only assume that an inspector will look at and evaluate all aspects of a home, even telling them if it’s worth the purchase price. If you’ve never had a pre-purchase building inspection done, note a few factors to keep in mind about the process. 1. Know what is up to code. A building inspection is done to ensure that the building is up to local codes, but as a potential buyer, you need to understand what is covered by those codes. Those codes will usually include inspecting the structure of the home, including the foundation and roof, as well as plumbing and electrical systems. Note, inspecting the structure of a home may not include aesthetics, such as the condition of the tiles used on the floors or the age of the carpeting, or broken items that are not included in building codes, such as ripped screens in the windows or a screen door that doesn’t close. Don’t assume that a building inspection will include checking every detail of a home you might want to purchase, but understand what will actually be checked by an inspector. Since a standard pre-purchase inspection is not going to include every detail of the home’s condition, you might want to consider additional inspections. These may include inspecting for mold, asbestos or for pest infestation. 2. Know the value of the home. A building inspection will not tell you the value of a home, but you can use it to help you determine if you’re offering the right price for it. As an example, if a building inspection notes major leaks to the roof, you may know to lower your price to accommodate those repairs. However, if the inspections notes that the roof is brand new, the foundation has recently been underpinned for added strength, and the plumbing has been upgraded, then you may know that the buyer is asking a fair price for the home and it may be worth the investment or purchase. The inspection may not be able to give you a value on the home in terms of actual figures, but the information it offers as to the home’s condition can be just as useful. Learn more about what is and isn’t included in an inspection by contacting inspectors like Safe House Property...

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Ways to Ensure Your Property Valuation Is as Favourable as Possible

Posted by on 5:03 am in Uncategorized | Comments Off on Ways to Ensure Your Property Valuation Is as Favourable as Possible

There are several reasons why people undertake property valuations. For investors, it may be so they understand if their investment has increased in value to allow them to borrow more, or a valuation may be required before the settlement of a deceased estate. Others simply get their property independently valued so they can arrive at an objective figure to guide their future investment decisions. Compared to an appraisal conducted by a real estate agent, valuations are impartial with an extensive systematic process involved. Even though much of the value of the property comes down to the house itself, including its size and location, there are a number of ways homeowners can maximise the value of their homes before a valuation takes place. Renovate or Refresh the Kitchen and Bathrooms These are potentially the most important rooms of the house from a value perspective. If kitchens and bathrooms are tired and dated, there are a number of affordable ways to refresh these that can have a significant impact on value. A new shower recess, vanities, cabinetry or flooring in these rooms will make a difference as well as a fresh coat of paint. The point is to do these fixes and improvements before the valuation begins. A valuer can only provide a valuation based on the day they assess the property, so future plans no matter how much they could add value, are irrelevant. When undertaking renovation, be aware of overcapitalising by spending more on improving the home than can be recouped if buyers are not willing to pay more than a certain amount in an area. Presentation If you don’t have the time (or the finances) to renovate areas of the home before the valuer arrives, then the next best thing is to prepare the property in the most positive light. This means neat and tidy presentation throughout but especially around the exterior of the property, including paintwork. Appearances count to a valuer, as well as they do to buyers and if everything looks well maintained and tidy, it’s likely to have a favourable impact on the valuation. Outdoor living areas are sought after by most groups of buyers so pay particular attention to presenting and tidying these areas.  Provide Documentation The more information you can provide the valuer in the documentation to support your case, the greater likelihood of a higher valuation. Provide a list of recent renovation or improvement works including specifications, recent sale prices for your street, building plans and council rates notices. The more detail in these the better, including costings, as they can all add weight (and value) to your application. Highlight Features that May Be Overlooked While it’s tempting to follow the valuer around the home, a property valuer knows what to look for and will generally appreciate being left to get on with the job. With that said, not all features of the house may be obvious to them, so it’s a smart idea to provide a list of easily overlooked features. Solar panels, rain water tank and water recycling features, underfloor heating and additional storage areas are all examples of features that may be overlooked, so it’s worth considering any of these any directing attention to these during the valuation. For more tips on getting the most of a valuation, contact...

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Property Sales: 4 Factors Involved in Buying Properties Through Private Sales

Posted by on 8:35 am in Uncategorized | Comments Off on Property Sales: 4 Factors Involved in Buying Properties Through Private Sales

Private property sales require prospective buyers to make offers on the home after it has been advertised. Buyers and sellers may negotiate and agree on a final selling price, usually with the assistance of a real estate agent. Property sales require careful consideration and meticulous planning to get the best possible price for the home you’re about to buy. Here are some considerations when buying properties through private sales. Conditional Offers Most buyers generally negotiate with sellers to make the sale based on certain conditions like obtaining a loan, selling existing property and successful completion of pest and building inspections. Keep in mind that sellers may reject your conditional offer in certain instances. For example, sellers may reject conditional offers based on longer settlement periods if another buyer offers a higher or similar sale amount within the requisite settlement period of the seller. Property Negotiations If you have made an offer on the home that’s lower than the asking price, the seller may choose to reject it. The agent may then request you to make another offer that is mutually acceptable. Negotiations involve agreements regarding price, settlement period and items to be included and excluded in the sale. If you have made an offer in writing, your contract should include your offer price, settlement period, conditions required based on loans, or building inspections and items part of the purchase. A written agreement through property negotiations ensures complete transparency between both parties. Paying Deposits Generally when you make a written offer for private property sales, you will either need to pay the full deposit amount or a nominal amount, with the remaining deposit to be paid by a set date. If the agent manages a sale, the deposit you pay will be held in the agent’s trust account until the settlement period. In the absence of an agent, you may make the deposit payment directly to the seller, who will pay the deposit to their conveyancer or solicitor to be held in a special account. This account should be in the seller’s and buyer’s name, which is usually set up by the seller. This will be held till settlement. Cooling Off Period During Private Property Sales A cooling-off period applies to private property sales irrespective of price. Every state has their own rules when it comes to the cooling-off period, which gives you time to reconsider the offer. Depending on which state you reside in, the buyer has a five-day or three-day cooling-off period. In states like Tasmania and Western Australia, the cooling-off period does not apply. This cooling-off period commences from the date you sign the contract. If you decide to back away from the offer, you are entitled to a full deposit refund, but will still need to pay a small fee based on the purchase price. Keep these factors in mind if you’re planning to make a purchase through private property sales. For more information or assistance, contact resources like Donley Real...

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