Staying in Serviced Apartments

For most people, staying in hotels is the first thing that comes to their minds when they spend longer holidays. There is another better option that not only works out cheaper, but also has better amenities. Today, many people are also looking for serviced apartments. This is one of the reasons why real estate agents … Continue reading “Staying in Serviced Apartments”

For most people, staying in hotels is the first thing that comes to their minds when they spend longer holidays. There is another better option that not only works out cheaper, but also has better amenities. Today, many people are also looking for serviced apartments. This is one of the reasons why real estate agents are now investing in these properties.

What is a serviced apartment?

Just like a hotel, serviced apartments offers the privacy and comforts of a home. They also have a housekeeping staff to accommodate all your needs. This is the best option not only for people who want to spend holidays with their loved ones, but also for those who usually travel for business trips. This gives them an extended-stay accommodation, which resembles a comfortable apartment-style living. Here are some reasons why it is a better option than hotels:

  • More space

One advantage of serviced apartments is the space. You are given more privacy than getting a hotel room. Hotels are usually crowded. So if you are looking for that cosy or “homey” vibe, you should definitely go for serviced apartments.

  • Convenience for family or group travel

Most apartments have several bedrooms and bathrooms branching off from one central living area. This is ideal for couples travelling with children or another couple. This also gives you more privacy and space and can till hang out together in the shared lounge area.

  • Own kitchen

Another good feature is you can have your own kitchen. There’s no need to dip into fancy restaurants or minibars. You can bring your own food or prepare your own meals. You can store late night snacks and drinks and enjoy your favourite breakfast in the morning. There’s no need to rush or find the most convenient restaurant or fast food. This can give you a valuable time with your family or focus on your work.

  • More affordable

The price is not a problem as well as compared to renting a hotel room. They are more affordable and the best thing is you can still get a quality unit and excellent services. You can always negotiate with the owners without any hassle.

  • Time flexibility

If you need to extend your stay, you can simply talk to the agents or the owners to customise your contract. You may also choose the long term options if you need to stay a bit longer. Some people stay for about 3-5 months. This is a good option for people who usually have business trips.These are just some of the reasons why many people choose serviced apartments than getting a hotel room. Investing in this type of property is a good idea. You may also search online for more packages. There are different online sites offering various promos.

How to Buy New Property

Modern property developments are coming up with amazing options for a willing buyer. The options are numerous and when you are wise, you have the chances of landing a profitable property deal. The real estate field is wide and filled with options, but then there are important considerations that have to be made to make a wise move when getting in. Here are some of the things that you should consider in a property that you are interested in.

The Facilities

Modern new properties come with a variety of facilities which directly determine how valuable they are. These amenities include pavilions, studios, gymnasiums, Laundromat, pools, groves, avenues, ponds, fitness galleries, jogging trails and spas among many others. The facilities that a property has determine its value and just how convenient it will be for you or the target market. Now-a-days people are paying more attention to luxury options when it comes to a property. It makes it important to choose something that will be most appealing.

Surrounding Property Value

Before buying a property, it helps to also consider the value of other properties in the same area or location. The worth of the neighboring houses can help you in putting an estimated value to the property. You however must consider the available facilities and factors such as the view that can be enjoyed from one property to the other to make a good estimate. New amenities can affect the value of the property. When you check around, you will also get to know about shared challenges or problems among the properties.

Market Timing

It is among the most important. It is of great importance to time the property buying period. Even the real estate market has peak and off seasons. Buying a property during low season will give you chances of selling it for much more during the peak season. Investing in property is all about money so make sure that you are tracking the buying time just right to favor you. Being up-to-date will let you know about the drops and the spikes in the volume of property sale, hence you will make a move at the right time.

Property Loan Market

It is also very important to check on the current property loan market when thinking of buying property. The interest rates on a home loan are great factors when making a buying decision. The market can affect the investment returns. It is an important consideration for property investors as compared to occupiers of such a property. There are various loaning institutions and you can therefore easily get cheap rates that will be of added advantage to you and the investment that you are about to make.

Heat and Noise

These pollutants can impact the quality of a property. A good property will have units which are strategically constructed to make sure that everyone enjoys some peace and quiet. It is important to look at the property plan and the possibilities of experiencing heat and noise pollution as a result of how everything has been planned out.

Property Management While Abroad

Managing a property can be a great job, but a very demanding one. If you are a property manager or own another property in a different part of the world, this can be an even bigger undertaking. Understanding how to deal with potential renters, the sale of your property, the day to day management and more is difficult to do from a location that isn’t near your property, but it is entirely possible to conduct business as usual from around the world. Here are a few tips on how to conduct property management while abroad, without running into too many bumps along the way!

1. Make sure you regularly check in on your property, via Skype or an online security system. Even if you can’t be there you can still keep tabs on your property’s security and how things are going. If there is ever an emergency you have the ability to call someone who can help locally or retain that security footage for other uses if needed.

2. If you have renters or temporary vacation home guests that frequent your property, make sure you are always available via email, telephone, and other common methods of communication. Even if you have a time difference between where you are and where your property is there should be a way for your renters to contact you for any reason they have.

3. Since you aren’t able to physically solve problems related to your property yourself, hire someone you trust locally to go and check in on things every so often. You will likely need someone to be on hand if anything breaks (such as a reliable maintenance crew) as well as a cleaning service if you use your property as a vacation rental. These people will be your first line of defense if anything happens to your property.

4. If you are making money off of the property you have, make sure you understand the property tax laws in the country where your property is located as well as where you are. There might not be a difference or anything you need to pay attention to, but some countries require a report of foreign income earned and a declaration of that property ownership in some fashion. Getting in tax trouble no matter where you are is difficult!

5. Hiring a local landlord or property manager, in the case of an apartment complex or a similar property, can also help keep your property safe. This person should be trustworthy and able to do the day to day work of managing a property while you are abroad. If any emergencies come up they should be equipped to deal with those and report back to you.

Managing a property from abroad takes trust and being on top of communication with your various colleagues or employees. Doing all this from abroad takes effort and coordination, but it is entirely possible to maintain a viable property even if you aren’t in the same country.

Bad Property Investment Advice: What Not To Do

As is the case with many different situations in this world the ratio of bad to good advice is skewed, and not in your favor. Getting the right advice is incredibly important especially when your money is on the line. If you are thinking about getting involved in property investment but feel like you might not be getting the best advice from your friends, family or real estate agent, here are a few common problems to look out for and what you can do to avoid them.

1. Ignore the media. Newspapers, websites and banks are constantly trying to get your attention with loud headlines and get-rich-quick schemes. While most of us are able to avoid these scams with our heads remaining firmly on our shoulders, bad financial times can come with bad financial decisions. If you are making property investment decisions make sure you are getting a wide variety of information from many different sources before throwing your money at anything.

2. Avoid funding schemes. Property funds are more common in certain areas of the world than others, but are dangerous nonetheless. Property funds are used by companies who invest your money in a property and hope it sells at a rate that allows them to pay their clients back on their investment. Now, with the rate the housing market usually goes… does this sound like a situation you’d win in? Not really! While some property funds are quite successful and well-run this isn’t the best place to be putting your money if you want to invest in property.

3. Buy-to-let properties are another situation in which people can fall prey to bad investments quite quickly. Many people see what looks like a good deal (oh look, low interest rates!) and forget that the end game of investing is to make a profit. Even if you are surrounded by low interest rates and great deals, you might be missing out on the real find hiding behind common sense and solid thinking.

4. Don’t underestimate the power of an overvalued market. Now might not be the time for you to invest in property, even if other people are telling you that it is a great time to invest. Know your finances and how much you can afford to gain or lose in this transaction- if the risk isn’t worth it, walk away with no regrets.

5. Finally, be careful of emotional responses to money and property. We can often fall in love with the perfect property and forget that taking out loans might last a lot longer than that property’s value does. The media and other peoples’ speculations about property values going up and down are always going to create a major hype, but you are free to not get sucked into the madness. Use your head and rely on facts before making any property investment decisions. You might regret not moving quicker, but you’ll never regret not losing money with a poor investment.

How to Spot Bad Real Estate Properties

Great real estate is hard to find- sometimes it seems like all there is in the world is mediocre properties and endless paperwork that never seem to strike your fancy. If you are in the market for your dream home you might be finding yourself caught up in the midst of open houses, real estate agent phone calls, fees, mindless paperwork and loans up to your eyeballs. While finding the perfect home for you and your family you might find it easier to spot the homes you don’t want to buy – if you haven’t already figured it out, here are a few ways to spot bad real estate properties and how to avoid them!

1. Appearance: a first impression’s importance implies to people and to houses! If you walk up to a home and aren’t impressed by the exterior or interior, use your instincts. Some homes simply need a new coat of paint and a few repairs, but others have been neglected for so long that they have bigger problems as a result of that neglect. A well-kept home is a good property investment; one that hasn’t been landscaped, painted, cared for, or maintained constitutes a fairly bad piece of real estate.

2. No communication: if the homeowner or real estate agent isn’t returning your calls regarding a home you are interested in or is pushing certain homes too much, be aware. They might be seeking to get a bad property off their hands and into yours. If you are dealing with a homeowner directly you might want to watch out for signs that they are covering up bigger problems on the property.

3. No information: if you can’t find any information on the home, run away! If a homeowner is really looking to sell a good property they will do what they can to make sure their property goes to the right buyer for the right price. They should supply all the information you need to know about the home, neighborhood, property, and be able to answer all your questions in a reliable time frame.

4. Outdated inspections or none at all: if a home doesn’t have an updated electrical system and updated inspections records, steer clear. Bad properties that haven’t been maintained in terms of plumbing, electrical systems, air conditioning and heating units, and more can be harmful to your health and affect the life you live in the property. Bad real estate properties are marked by small problems that gradually get bigger and bigger.

5. Location: a home in a good location for you can be forgiven a few aesthetic details. If a real estate property isn’t located in an area that’s convenient for you and has any of the problems mentioned above it likely isn’t a good property. Make sure to pick a home that is in a neighborhood you like.

6. Size, style, and price: if a home doesn’t fit these needs for you, it still might be a good property- but it isn’t your dream home!

Future Planning and Its Importance in Property Purchase

House purchase involves a lot of planning and you need to start preparing well ahead of time. Our aim here will be to provide you an insight into various aspects you need to look into. We will also go through some of the important factors you must take into consideration while searching for a home.

House Purchase and Importance of Planning Ahead of Time

Start Saving Early: It is better to start saving early to have required funds for the down payment otherwise you may fall short of the required amount. In such situation you will have no option but to opt for a home loan which is more than 80% of home’s value. Thus it is necessary to start saving a few years ahead of the house purchase.

Emergency Funds: It is common for sundry expenditures to surface while you are moving into your new property. As for example, you will have to pay for utility fees, refreshments for people assisting you in the move and several other similar things which can make a large dent in your savings.

Thus you will have to create an emergency fund few months before the actual move so that you can pay for these miscellaneous expenses.

Evaluate the Property Carefully: You need to thoroughly go through the property during the house inspection along with your home inspector. It is also necessary to have a checklist of things you want to go through at the time of home inspection.

It would be important to spend more time in the house and check all the appliances to make sure everything is working as required. Like for example, there could be some problem with the water heater where it starts to percolate after running for about 15 minutes.

Thus during the property inspection you will have to let the heater run for 15-20 minutes to see if there is any problem or not. In case you rush then you will only come to know about the problem when you start using it on daily basis. If traced at the time of home inspection you may well ask the seller to fix it.

Ask Someone Else to Look at the House: It will be worth asking your friends to have a look at the property along with you since they may notice something which you are not able to spot. A friend who has recently purchased a property will be a great choice since he would know about the caveats to look out for.

Shop for a Home Loan: Apart from banks you can also approach credit unions for your home loan. Credit unions may well provide you the loan for lesser rate. Let us say you get half a point less from credit union as compared to what banks are offering.

In such situation you would be saving about 23k on a loan of 200k over a period of thirty years. Thus over time it will provide you considerable saving.

As a final note we will say that house purchase is not something you think of today and finalize tomorrow. You need to start planning at least a couple of years ahead and cover all aspects to get the house you want.

Ways to Find No Credit Check Apartment Rentals

Sometimes, as one Ford dealership puts it, life hits you right in the credit report. You need to rent an apartment, but your credit is just not that good. Or, you might be looking for your first apartment and you have not built up any credit yet. Relax, there is good news. You can still rent an apartment without credit or without a credit check. Read on to learn more.

One great place to try is a private rental. People who run small apartment complexes or who are renting a room in their home often don’t run credit checks as much as a larger complex owner who has to answer to an association or corporate board. It’s easy to find places like this in website or newspaper classified ads. You may also see signs out in front of houses for “Room for rent”. The downside is you have no national review site to check and see what people are saying about the location, so you’ll have to do some research on your own.

Have your deposit ready, and then some. You might be able to put down a larger than usual deposit in lieu of a credit check, depending on the apartment manager. This ties into demonstrating that you have enough income to be able to pay the rent each month. The best ratio is making three times the amount of the rent. You’ll have enough for rent, utilities, and insurance, and still have enough left over to not stress about it.

A co-signer can be very helpful as well. One thing your co-signer needs to be aware of is that should you be unable to pay, they are legally obligated to cover whatever the apartment lease requires. Your co-signer does not have to live at the apartment. It can be a relative or friend, but he or she just needs to be willing to cover the lease if you are no longer able to. This is often one of the best ways to obtain an apartment without any credit.

You can also call and talk to the apartment managers to see what their qualifications are for credit. Is your credit suffering from some high medical bills you are working on paying off? Or did you just put too much on credit cards and then declare bankruptcy? These are often viewed as two completely different matters and a manager might be more willing to overlook the medical bills for which you have a payment plan. It also shows that you are willing to be responsible about your money.

Then there is a surety bond. You will pay a fee of about 10% to 15% of the amount of the security deposit to a bond company who in turn pays your deposit in full. At the end of the lease or when you move, you will not receive this amount back like you would a deposit you had paid directly.

Finally, there is asking for a short term lease up front to demonstrate that you have all the right factors to be a great tenant. You both can always renew later if things work out well.

Property Inspection Tips: A Handy Checklist

The detailed inspection of the property you are planning to purchase, is an essential step before entering into an agreement with the seller. Sellers usually try to hide minor damages, so that they can later pin them on the buyer and avoid the repair costs. Checking the property for any hidden damage or structural issues is always a good idea so that you don’t have to pay for the repair of these complications. Here’s what you should look into:

1- Check For Water Leakages

One of the basic damages that go unnoticed during casual checks are the small gaps that later go on to cause water leakages. Another unnoticed issue is water seepage, which causes damp walls. This problem is more prevalent in apartment buildings, where water seepage in an apartment, causes damp walls in the room directly below the faulty water seepage.

2- Lookout For Cracks

Thorough inspection of walls and ceilings for possible cracks is very essential. Usually, what looks like just a minor line on the wall turns into something substantial with time. So instead of running through the house inspection, it’s better to take your time and closely inspect every area to detect cracks.

3- Inspect The Plumbing

Proper plumbing is the foundation of a well-built house. Without this, the water supply and drainage pipes become faulty and can cause massive damages for you. A comprehensive check of the plumbing system can be done by checking the condition of the pipe material used for draining, waste, and venting purposes.

4- Test Window And Door Fittings

Another important aspect of the property inspection process is the absolute and thorough checking of the window and door fittings. A loose window or door is an invitation for accidents and should be properly checked to avoid mishaps. Also the setting-in of windows in their frames must be ensured, so that they can close easily during rains and sandstorms.

5- Measure Room Size

Before finalising the property, measure the size of each room on your own and map out how much space you will require for placing furniture and other items. Estimating just by looking may not be a good idea, as later you will realise that the room is actually smaller than what you had anticipated.

6- Ensure Proper Ventilation

Passage of fresh air through the house is of utmost importance for the health of the inhabitants. Ensure that proper ventilation vents are provided in every room for brisk air, and that the rooms have good scope of receiving sunlight. Also, if you are installing a central AC, make sure that all the wires and connections are safe.

How To Make The Most Out Of Your Holiday Property!

A new trend has recently emerged and that is the property management of a holiday home. What is it exactly? Consider that you have a second property or a holiday home, which you seldom use. In such a scenario, you can easily choose to give out the property on rent as a holiday home. This will bring you profits at the end of the day and will serve as your extra source of income. Other than renting out, you can also choose to rent out your own home as the holiday home property. What happens in such a scenario is that you go away on a vacation and rent out your own home to guests. It helps you get a good amount of money when you come back from your holiday trip. In a world, where earning extra money is nothing more than a hassle, this is quite an easy way to earn some extra money.

Why Contact an agency?

Holiday property management is not exactly an easy job and it can be quite difficult to do it on your own. There are many reasons as to why one should take the entire matter to an agency and let them conduct the whole business effortlessly. Firstly, if your holiday property is on a foreign land, then chances are that you know very less about the place to bring fruitful business to your holiday home. A local agency in such a scenario will conduct the entire business on your behalf and you will have nothing to worry. The agencies will look after the guests and their well-being as well as into the legal requirements of the holiday home. So again, you will have no part in any kind of hassles. Thirdly, the agencies take into their hands the marketing of the holiday home. In the event of a good marketing strategy, you will have lots of guests in your property which at the end of the day will increase your income.

How to search for an agency?

You have to always search for a local agency. This is because a local agency has an idea about the marketing strategies needed to attract people to the particular holiday house. Moreover, it will be easier for you to get information about the agency from the local reviews. If you do not know any local agencies, then you can easily search the internet for holiday property management agencies in the desired area and hopefully you will get positive results. Then, talk to the agency people about your requirements and you will get a deal that will suit your needs.

Here Are The Services You Need From Your Estate Agent

Becoming a landlord for the first time can be both exciting and daunting, with the promise of a passive source of income being appealing yet complex. Bearing the landlord status brings many benefits but also unique problems of its own, therefore choosing a good estate agent is of paramount importance to help things go as smoothly as possible.

As many landlords will know, the number of excellent British universities and other educational institutions nearby – including the University of Warwick, Warwickshire College and Coventry University – has meant there is a huge student population looking to rent here, making it a very profitable endeavour.

The first thing you need to ask for from your choice of estate agents- especially if you are a first time landlord – is a full management service that will deal with everything concerning your property. This can be especially beneficial when it comes to a high tenant turnover rate, as is common with student tenants.

Key services that are especially needed in the case of students include the full maintenance of the property, collection of rent and deposits, and arranging and accompanying viewings. Although these are necessary for all potential tenants, if you rent to students you can expect these activities to be necessary on a much more frequent basis.

Estate agents will make sure they do all the hard work for the landlord for a reasonable fee – making sure that student tenants are responsible for damage to the property, collecting rent and deposits on a regular basis, and organizing property viewings each and every year as the new intake of students arrives.

There are also other very useful services that you can benefit from as a landlord in the area, which are usually included in a full property management service. One of these is the selection and referencing of tenants using the Ends Leigh referencing system; instead of vetting prospective tenants yourself, your estate agents will do the hard work for you.

This is relevant for all tenants – students or otherwise – as it can help weed out those that have been bad tenants in previous properties and are therefore not likely to be good candidates for you. Another service that can be provided is a full inventory compilation, which will make sure that everything is as it should be when a tenancy comes to an end.

Again, this is especially useful when dealing with student tenants, whose tenancy agreements often last only a year before a new set of student tenants arrive. Carrying out an inventory check is therefore something that you or your estate agents need to do on a regular basis.

You should also expect that your choice of estate agents takes care of all the legal aspects regarding the rental of your property. This includes the drafting and signing of contracts to your needs and requirements. They will also be responsible for the marketing of the property, and it is worth asking how they intend to do this.

Last but not least, your choice of estate agents should take care of payments of rent into your account, providing you also with any relevant statements so you can better keep track of your finances and the income that you are getting from the property.

Whether you opt for a full management service or just the basics, finding a good estate agent that can deliver a range of essential services is important for any first time landlord. Consider what your needs are in relation to the type of tenants you will be marketing to, and then choose a service that can expertly meet these needs.

Tara and Co is an estate and letting agency with properties for sale and to let in Leamington Spa, Warwick, Keni lworth and surrounding areas. Tara and Co are the “straight talking property people”, aiming to readjust people’s perception of estate agents by offering a straightforward and jargon free service. Based in Old Town Leamington Spa for over 40 years, Tara and Co has also covered the Warwick and Kenilworth areas throughout that time. Tara and Co is big on technology, and utilities the latest software to provide their clients with online access to accounts 24/7, electronic contract signing and online marketing. Tara and Co has something to offer everyone – whether they are a landlord, tenant or owner occupier.