Posts Tagged ‘Landlord’
One of the most efficient ways to invest in residential real estate is to do a lease/purchase. The reason a lease/purchase is so effective, is because it provides a win-win situation for both the seller/landlord and the buyer/tenant. For the owner, it provides a potential buyer and a tenant that will be willing to take care of the home. For the buyer, it provides the right to purchase the home for a fixed price, and time to save money and improve their credit. Here is how it works.
The owner and the buyer enter into a contract whereby the potential buyer agrees to lease the home for a set amount of time. At the end of the lease, the buyer then has the option of buying the home for the price agreed upon in the contract. In order to secure that price, the buyer pays an option fee up front. If the buyer chooses to buy the home at the end of the lease, he can apply the option fee and any other money saved toward the down payment. If they choose not to purchase the home, the owner keeps the option fee.
For the owner, the lease/purchase offers several different ways to make money from the home:
- The goal is to buy the home for 10-20% below market value.
- The monthly rent you collect will exceed your mortgage payment.
- You can right off mortgage interest and other expenses on your taxes.
- You pay down the principle on your mortgage and build equity in the house.
- The price of the home will appreciate.
- If the potential buyer decides not to buy, you keep the option fee.
This is just a basic outline of how a lease/purchase works and the opportunities it presents. It is still a real estate investment strategy that is unknown by many and discussed by too few. For more detailed information, a recommended read is “Buy Low, Rent Smart, Sell High” by Scott Frank and Andy Heller.
To apply this investment strategy in a growing real estate market, visit http://www.buyandsellnorthtexas.com.
By: Michael Stazko
The gas safety certificates have been made compulsory for all the landlords as well as the home owners. There are certain rules and regulations that need to be followed. Unless the rules are followed the registered engineers would not give you a good certificate.
Do you know that to become the regulations of gas safety also has some definitions set for the landlords? Other than this, there are certain duties which are set for the landlords. There are certain lists which will help you to learn about the various duties of the landlords. Among the various duties appointed to the landlord one of them is regarding the gas safety.
They must make sure that the get the gas safety certificates and they must also provide a copy of the certificate to the renters as well as the buyers. The landlord is responsible for check all the gas appliances and he must make sure that they are safe. After this he also needs to call the registered engineers who will provide them with the certificate.
He must also remember the dates when the appliances need to be checked. This check must be for all the flues as well as appliances that you have rented to your customers or have even given to them so that they can use them.
You must always remember that it is your duty to keep a check on all the appliances. If you do not know much about this then you can surely consult a letting agent who can help you to manage the matters. To get the gas safety certificates you can utilize the services of the letting agents.
You might now think how to get these letting agents. There are lots of management consultant companies who can provide you with good letting agents. After you select an agent you must first of all make a contract with the agent. The contract must have everything in detail.
The gas safety certificates will be dealt with by the agents so you must mention the name of the registered engineer in the contract. The agent must keep the records of the safety check and must make sure that they go for the safety check once in a year.
There are so many companies available these days. You can find some of them on the internet. There are various websites which are like open windows and you can contact them whenever necessary.
These consultants provide you with a 24×7 service. After receiving the certificate you must also make sure that they are correct. You can do this by checking the information present inside the gas safety certificates. Once you do all this you will become a proper landlord.
By: Adam Labno
As the recession has affected common man, many people want to earn money by renting out their property. This way his or her house is taken care of by somebody instead of remaining empty and a reasonable amount of money can also be earned.
It is not easy to find a tenant for your property who is capable enough to live in your house, without creating any problem for you and your house. Along with this and many other factors, it is good to use a letting agent for his/her efficient services when you plan to rent your property.
Every letting agent has a different mindset and concept of let only service. Therefore, it is very important to read all about his services before hiring him. Moreover, making a rate comparison between different letting agents is a wise step towards choosing an appropriate letting agent.
People, who do not hire the services of letting agents, put themselves into stress of making a decision about their property. You should let go of your stress and hire an agent for all the services. As to why do people prefer to get services of letting agents is a very important question and its answer is very informative. People hire their services because they are experienced, have conducted a complete market research, have done vast analysis, and are thus efficient to advise an accurate rent for the property.
When an agent advises you on a certain rental value, you can quit using his services if you are not satisfied with him or his opinions. However, you’ll have to live with it once you have hired him.
A letting agent not only helps you in determining the right rental value of your home but also helps you to resolve different legal issues that can affect you in one way or the other. He can define the actual obligation on part of the tenant as well as on part of the landlord. He is capable of leading you to a better decision, regarding implementation, insurance and mortgages. He elaborates different types of tenancy and helps you decide if you should rent out your property furnished or unfurnished.
A good letting agent always finds a good tenant for your property. He tries to increase the rent for your benefit. He takes the whole pain of advertising your property for an amount that has been decided between you and the agent. A letting agent accompanies prospect tenant to your property. He always proves to be a good marketer by focussing on good points of the house in front of the tenant.
It is a hassle for a landlord to make arrangements of insurance products for safety measures. A good letting agent also helps the landlords in getting those things done or at least help them in finding the providers. He also helps in performing some administration related functions, like transferring the council tax liability to the new tenants or arranging for metre reading. All these things and many more can become a big trouble for a landlord if he/she doesn’t seek the services of a letting agent. Therefore, it is always better to get a lettings agent’s services to make a good decision for the property.
By: James L Harrison
