Any owner of residential houses needs to make sure that the houses are well maintained. As tenants continue living in a house, it wears out. Some items become dysfunctional while others break and need replacement. The landlord may not have enough time at hand to enable them take care of such issues. They therefore enlist the services of a property manager. Keeping residential houses in good conditions helps in making sure that all the houses are occupied most of the time. If the tenants feel that the houses are not in such good conditions, then they may opt to move out and move into another house that is well maintained.
Property managers are individuals or companies who take care of the day to day running of residential and commercial houses on behalf of the landlord. Property manager’s act on behalf of landlord’s in preserving the value of the property while generating income at the same time.
They can be divided into the following;
Commercial property managers
Residential property managers
Industrial warehouse managers
Vacation properties managers Continue reading
Property Management Services Work Well For Rental Properties
The need to control a real estate property can be important as such properties can be worth hundreds of thousands of dollars. Having such a living space managed the right way can be essential to consider as your asset will have to be controlled to where its value will be as easy to follow through on as needed. Property management services are available to all those who need extra assistance with keeping their finances under control and to keep their properties as easy to maintain as possible.
These services particularly work well for those who have rental homes. The possibility of making money off of such homes is strong and today’s asset management professionals can help people get the support they need so they can make money off of whatever they are trying to work with. Continue reading
Becoming A Landlord
In order to establish yourself as a landlord there are a number of laws, regulations and general tips you’ll need to learn before you can meet the legal requirements or be able to be a good landlord.
Unlike owning and living in your own home, being a landlord requires you to perform a number of legal responsibilities, such as a yearly safety check on your electricity and gas installations. You’ll also need to provide an energy performance certificate, ensure that all of your household items meet the minimum fire safety standards and that there are adequate fire exits, and purchase landlords insurance. In addition to these few points there are a number of others which you’ll need to know.
In addition to meeting your legal requirements, performing a good job is essential for a business which relies largely upon reputation, which means that your number one priority is make sure that any tenants you have are satisfied with their accommodation and rental policy.
To keep your tenants happy you’ll need to look at your contract to ensure that it isn’t going to be viewed as unfair. You’ll need to make sure that the decorations aren’t offensive to the majority of people who would be interested in renting your property.
Slash Council Tax Charges
When managing properties a considerable part of the upkeep consists of the council charges. However, you may be able to reduce these charges.
The council tax system was established in 1993. As part of the system all properties in the UK were assigned a rating (ranging from A – H). Over time however the value of properties has fluctuated, and with it so to has this rating.
Not all properties have changed, but many have. Because of this the amount of council tax you pay could have changed without you realising or being informed of it.
To check if your properties council tax charges have been changed contact the local council. They will inform you if you are eligible to save money on these charges. It’s also wise to see if you are entitled to any discounts and exemptions from the council. For example, if you own a second home or holiday home you may be entitled to a council tax discount of up to 50%.
Handling Property Damage In The UK
Its always a risk. Your office, home or business complex could suffer damage from a host of terrible surprises. Floods, vandalism, car accidents, there are countless external hazards.
So what do you do if you suffer from these external influences and what should you be aware of?
Insurance
Almost anything can be insured, and property insurance is no exception. Property insurance gives you a financial safety net if any of those external hazards happen to damage, attack, flood, or burn your property. Obviously you need to insure your property before the hazard has taken effect.
Property Claims and Law
There are many law firms that handle property damage claims specifically. These companies will help to fight a case you might decide to make in a court of law. Compensation may be available for you if you win your case, the law firm will take a cut of this.
Government Legislation
Its important to know what government legislation may be swung in your favour when assessing issues like this. There may be laws in your favour or government help available.