Decisions to Make For Rental Property Owners

Owning a rental property is a good source of stable income. Your property will be your steady financial shield. Years from now, you will reap the benefits from this kind of investment, even if the economic crisis will continue or not.

Purchasing a property is not that easy though. The process involves perseverance, patience and some major decisions to make before you can start earning from this investment. Some of the decisions to make are as follows.

Property location.

Location is of utmost importance in any real estate investment. A wise choice would be towns and cities with more population and higher per capita income. Other things to consider are the existing institutions like businesses, schools and vacation destinations. Retirement locations are also good locations to buy a property. To be absolutely sure of your chosen location, do some useful research dating back years to see the trend with which property rentals are moving. It is advisable that you stay away from places where real estate is decreasing in value.

Property manager.

If you are not in the real estate field, it is wise to get an agent that will deal with all the legalities for you. If you chose a home rental Tampa property for example, you need a Tampa property management company for that purpose.

This will be the people that know more about rental homes in Tampa more than any other person. With property management in Tampa doing the work for you, you are assured that your property is taken care of, from marketing, finding and screening tenants, dealing with prices and other aspects that you do not have to deal with yourself.

Fair mortgage.

Alongside working with a property manager, you should also get yourself a mortgage broker. But do not just pick one; choose the right one. Verify how much credit you are allowed to have. Also check if what you will be earning from the property is more than the mortgages you will be paying on a regular basis. Find not one but some mortgage options for you to see which one will offer you more flexibility and a fair percentage from the income your rental property will make.

Legal advice.

Seek legal advice from those who are specializing in real estate. Most property management companies can provide or refer you to people who can discuss the laws and regulations involved in renting a property. This also depends on your chosen location. Every city or state has their own set of laws to abide to. Make sure you know every detail so you will not encounter problems later on.

Personal involvement.

Even if you have already hired the services of property managers, you still have to be involve in running your property investment. From finding the tenants to price negotiation, you have a decision to make. The property management will point you in the right direction, give sound advice and provide insight on what to do. But the decision will still made by you as the property owner. Listen, check and study every aspect. Expect reports and ask questions.

Again, owning a property is not as easy as choosing and paying. But following the advice above would make it not only convenient but also stress and worry free for you as the owner and for the life investment you will earn a lot from.

Planning Your Vacation Rentals in South Africa

When you search for property rental South Africa, there are a few things that you will have to consider. The first thing that you will want to do is think about what part of South Africa you are going to visit. If you plan to do a tour around South Africa, you will want to look for a few vacation rentals before you start your vacation.

This way, you will not have to worry about looking for property rental South Africa while you are on vacation. The only thing that you will find problematic with this set up is that you will need to make sure that you are on time and on schedule where ever you go. So if you came to Cape Town for shark diving, mountain climbing and sky diving, you will have to make sure that you cut off your activities in time to get to Durban for your exotic beach visits, water skiing and nightlife.

If you are planning to visit the major cities of South Africa, you will need to decide on a time frame for your visit to each city. This will allow you to see all the sights that you want, and to ensure that you take some time to relax as well. Make sure that you plan your accommodation accurately according the time of departure and arrival in each city.

If you are going wine tasting in the wine route of Cape Town, you need to make sure that you do not get too comfortable if you are looking forward to seeing the huge diamond pit of Kimberley or the City of Gold (Johannesburg).

If you leave one city late, it means that you will arrive late at the next, which could mean that you lose out on a booking and you might not have a place to stay for that night. You need to make sure that you are always on schedule. If you are going around to different places you will also want to stay away from hotels, or bed and breakfasts. this is because you will be quite restricted to when these places serve there meals. If you are not looking to have meals at the places you stay, you should go with self catering property South Africa or other types of holiday accommodations. You will want to make your own time to do whatever you want, as there are plenty of things to see and do in each place.

You will find that there are a number of places you can find self catering property rental South Africa, as these are found throughout the cities and town of this country, like Durban, Johannesburg, Cape Town, Pretoria, Kimberley, and more.

Rent Your Property Quickly In A Modern World

Historically the best way to rent out your property was to advertise in your local shop, put a sign in the garden or at most an advert in the local paper. In the 90’s specialist newspapers came to prominence where people could advertise for a fee to thousands of eager tenants. The specialist newspapers dominance peaked around 2003. Since then the way we rent properties has changed dramatically. Gone are the days when a scrawled not poorly detailing a property were enough. Like most industries rental property started to move online in the late 90’s. Now it’s just as advanced as any other online industry with a variety of websites offering everything from pictures, videos, sound, satellite maps to floor plans.

There are literally thousands if not millions of websites offering alternative ways to rent your property online. Most however are not available to the general public. Propertyfinder, findaproperty, primelocation are all UK property websites or as they are known “portals”. These portals do not allow individuals to advertise properties on their site. This is due to the pressures from estate agents so that they can continue to dominate the market. Therefore in order to advertise with a website like these you must use an agent. Agents tend to charge around 10% of the yearly income.

However there are many alternatives that allow free advertising online and many that offer paid advertising online. Craigslist offer a fantastic way to post simple adverts online especially in the USA and if you are quite tech savvy you can use coding to design a good advert. Many of the online classified sites offer a reasonable service. However beware of “scammers” and make sure you repost your advert frequently.

Specialist rental websites can offer the best solution. They make it simple and easy to post the perfect advert and give the best response. LiveSimply.co.uk [http://www.livesimply.co.uk] offers a fantastic example of a specialist rentals website. Live Simply offers free advertising for both landlords and agents. The site is designed to make life easy when you are renting property so the adverts are designed to get the best response from interested tenants. You can add pictures, videos and sound descriptions and your property will be found on a satellite photo of your area.

You might think that videos and photos are excessive but that’s what tenants want. Statistics show that properties with pictures get 9 times more responses than those without. Adverts with videos get twice as much as those just with photos. You get the picture. In essence like most things in life the preparation work must be made. You need to create a fantastic advert, so get out the digital camera and take lots of photos. If your camera has a video setting like most do then make one and walk around your property. This helps save time later. People know what your place is like before they come. If they like it they will come, if they don’t like it then unfortunately they won’t.

Market My Rental Property Online

The age of the Internet is upon us and it presents many opportunities for renting your rental properties. The internet can give you access to highly qualified candidates you might otherwise not be able to access. Internet marketing is not only less expensive than traditional print advertising; it can also be more effective. The Internet allows your advertising campaign to target a market inexpensively while delivering more details and features of your property if you have a proper resident portal or web site.

Any good quality web marketing company should be able to help you focus your advertising efforts; however finding a company with the ability to create a quality resident portal and a property rental web site will be a bit more difficult. Remember to interview a few companies and settle with the one you feel most comfortable with not necessarily the company with the lowest initial price. You should look at the long term investment as changes and updates can cost quite a bit from some outfits.

How can all this help your business?

How many times have you gotten a call that someone wanted to see your rental property only to be stood up or have the person tell you that your property was not what he or she were looking for? When there is no effective way to pre-qualify your prospects, the cost of driving and time spent certainly eat into profits. An internet based resident portal and community web site give the small operator the same powerful tools to pre-qualify and market their properties as large property management companies but at a very affordable price.

With a quality resident portal and web site you will be able to post pictures of all your rentals, place a video tour, and provide critical details of each property your offering. You will have your own business/marketing site working for you 24/7/365. The information contained in the web site will help pre qualify prospective residents. They can look at the surrounding area via a map page. See the actual unit they will be renting via photos and / or videos. The possibilities are endless when it comes to the internet. Start locating more qualified potential residents via the internet and give up the old school picture book advertising.

If your business requires it, you can also locate a variety of additional services that use the internet like:

· A 24/7 Call Center to answer the phone when your leasing agents are busy
· An Online Leasing Calendar for appointment scheduling and tracking
· An Online Maintenance Reporting and Tracking System to insure your maintenance personnel are accountable
· Emergency Call Dispatch to reduce the time it takes to respond to emergency maintenance issues
· Online Credit Card Payments so you can collect rent 24 hours a day.

 

Property Rental Requires Research

Property rental can be of various types. You will need it for residential or official purposes. Then you have other rentals such as for storages and so on. All of these will need some research, as you will most likely have plenty of options to look at. Some of the property owners will be away and there will be caretakers who are looking after the needful.

Thus, you will need to ensure that you know about the property rates. They will differ from area to area. So there will be a lot of looking around that you will need to do. You will need to keep all the rates in mind at all times. In this way, you will know best and will not need to look to someone else for advice.

The rentals will naturally differ with the types of properties that are available. This will be the most important factor, especially for residential purposes.

Now, rentals depend largely on real estate agents. There will be plenty of agents in the area. But there will also be the need to choose the right agent. You will have to use the ones who do not hike up the prices according to their whims and fancies. You will also need to choose agents who charge reasonable fees.

Some real estate agents may not be very reasonable with what they charge. They may try to con you into paying them more on the pretext of signing up good property for you. You need to be wary of such agents. Try and make use of only the more reputed ones. You can get one through your friends as well as family members, as they will know trustworthy ones.

Planning a budget for the rental is also very important. You should not be too extravagant if you have some savings. You should try and ensure that you will be able to shell out only so much as rent every month. You should insist on meeting the property owner. After all, you do not want to deal with fake agreements either.

Reading every clause of the agreement will be important, when you are signing up any property for rent. If you do not do so, you may be in trouble if you are not pleased with some of the terms during the duration of the lease.

You will need plenty of time to zero in on a property. This is unless you know someone who can help you personally. Today, one of the best ways to look at renting properties is through the Internet. The Internet offers you plenty of options. You will be able to get all the latest updates. You will have all the categories online. So you need not look anywhere else either. This will be ideal for people who do not have time to look around.

Searching through the Internet will also be very easy. After all, everybody is net-savvy these days. Moreover, you will have listings with pictures. So looking around will become easier for you at no extra cost.