5 Things You Need to Do If You Want to Make Profit from Rental Property

One of the best ways to make a lot of profit from property business is by renting the building you buy. As the price of property is increasing, many people find it hard to buy their own house so they need to find a house or apartment to rent. Even though purchasing a rental property sounds really tempting, becoming a landlord is not as easy as it sounds. If you make a wrong move, you will lose money instead of making profit. To make sure you can gain good amount of profit from rental property, here are some things you need to do.

Plan the Financing Well

Before you start hunting for building, make sure you set a good planning for Agen Bola, especially regarding the financing. Find a good neighbor and then find out what kind of residence people prefer to rent in that area. After that, make a good planning on how you will pay for it. Will it be best to pay cash or should you get a loan?

If you are sure that you can pay the installments, taking loans can be a good option if you don’t have cash available. Don’t forget that you need to pay the taxes as well and you also need to pay the advertising and renovation cost. You also should make a backup plan just in case you can’t find tenant for a long time and you need to pay the tax, installment cost and maintenance property with your own money.

Advertise the Property and Screen the TenantAdvertise the Property and Screen the Tenant

Once you have purchased the property, it is time to advertise it online, find tenants and start making money. But remember, you are not obligated to seal the deal with the first tenant that comes your way. You need to screen the tenant first.

Do a background check and don’t forget to call their past landlords. It is important so that you know that your building is on the right hand of someone that will take care of it. If you skip this step, you might end up with some tenants from hell that will wreak havoc in your building.

Pay Attention to the Maintenance Cost

Many landlords underestimate the amount of maintenance cost of their building and this is the thing that will make them losing money instead of making profit. Maintenance cost of a rental property can be really high, especially if the tenant doesn’t really take care of it. It’s not always the tenant’s fault, though. Some rental property owners neglect their building when it is not rented which makes maintenance cost go higher. So, when you are setting the rental price of your building, make sure you count the maintenance cost as well.

Set a Rule

As a landlord, you need to set some rules for your tenant. For example, the rental cost need to be paid before a certain date or who should pay in case there are some parts of the house that needs renovating. Renting a building is very risky and those rules are made to reduce those risks. Those rules also will prevent misunderstandings and problems that might arise in the future.

Treat Your Tenants RightTreat Your Tenants Right

Even though you have set some pretty strict rules for your tenants, it doesn’t mean that you should be mean to them. It is important to build a good relationship with the tenants so both of you will not afraid to communicate in case something happens. Furthermore, if you are blessed with a good tenant that maintains your house well, you should cherish them. Raising the rental cost annually is not really needed if the tenant doesn’t make you spend too much on maintenance cost.

4 Things to Do to Sell Less Desirable House

4 Things to Do to Sell Less Desirable House

Property is an excellent investment and you can get a lot of profits from that. Unfortunately, that rule only applies to you if your property is located in such a good neighborhood and the building itself is presentable and in a good condition. If the house you want to sell is located in a bad neighborhood and the condition of the building itself is not on its best, we have to admit that selling the house is going to be a long and painful journey. Even though selling a house with bad condition is hard, it is not impossible. Here are some things you can do to attract some potential buyers to the house you want to sell.

Renovate to Make the House Stands Out

If your house is located in a bad neighborhood and other building around your house looks unattractive, you need to renovate your house to make sure it looks pretty, stands out and most importantly livable. In the end of the day, it is the house that the buyer is going to live in. So, it is important to make both the exterior and interior of the house looks as attractive as possible.

But you still need to watch your budget when you renovate the house. You might be tempted to make huge renovations because you want impress the potential buyers. However, you need to remember that renovation is expensive. You need to make careful calculation and make sure that the money you get from selling the house can cover the cost of the renovation.

Promote the Good ThingsPromote the Good Things

No matter how bad the house or the neighborhood is, there must be something good about it. If there is none in your perspective and that is the reason why you want to sell the house, well, you can still make up some without having to lie.

For example, people will avoid buying a house near a cemetery because the eerie feeling it gives. You shouldn’t lie and say that there is no cemetery around the house. However, with some sweet words, you can make the area looks more presentable. You can say that the area is quiet, which is the truth, and it will be a nice neighborhood for people who need some peaceful time after long days at work. Furthermore, if you have renovated the house, make sure you mention it in the online advertisements and also show the renovated parts.

Give Direction from Desirable Locations

When someone calls to see the house or you want to make an open house, you definitely need to provide directions to arrive to the house you want to sell. You need to be careful when providing directions. Don’t just say go through this or that street, but make sure you mention the prominent buildings in the neighborhood around your house.

You can mention some department stores, schools or hospitals. Even though the locations of those buildings are a little bit far from your house, mentioning it in the direction will give an image that your house is surrounded by many important facilities that will make it more attractive to the buyers.

Don’t Expect High ProfitDon’t Expect High Profit

People sell properties to make high profits. But when you sell a property with bad condition or located in a bad neighborhood, you should not expect to make plenty of profit. Finding a buyer is hard enough, let alone making some profit. So, it is best not to set your expectation too high. As long as the money you get can cover the cost of renovation, advertisement and other cost you spend to sell the house, you should be content with the amount of profit you get.

Read Our Article About : 4 Things to Do When You Want to Invest in Property

4 Things to Do When You Want to Invest in Property

4 Things to Do When You Want to Invest in Property

If you are interested to invest in a sector that can give you plenty of profit, property is definitely the answer. The market is pretty much stable and when you choose the right type of property and location, the profit will keep increasing and increasing every year.

However, investing in property and real estate is not as easy as it sounds. With the high profit comes a very high risk. Furthermore, just because the house or the apartment stays in the same place, it doesn’t mean that you don’t have to pay attention to it. If you are really interested to make an investment in this sector, make sure you follow these following tips.

Pay Attention to Ongoing Cost

Many people think that once they have bought the property, their job is done. They can start advertising their property for rent, sit back and relax until a prospective tenant calls.

But the truth is, that is not how property investment works. Even if you have bought the property, you still need to prepare huge amount of money for maintenance. Of course you will start getting money once someone is interested in your property, but the problem is you cannot buy the apartment or house yesterday and find a client the day after.

Finding a potential client for your property and real estate is not easy. When it comes to property business Judi Online, it can take months and even years until you can gain the profit you are waiting for. While waiting for the right buyer or tenant to come, you will need to maintain the property with your own money, not to mention the insurance fee. It means, you also have to pay attention to the ongoing cost of the property so that your property will not lose its value.

Consider the Value of the Area

Nowadays, it is actually pretty easy to find a cheap house. And since you are very eager to invest your money in the property business, you might be tempted to purchase the cheapest house you can get.

But when it comes to property and real estate, you need to raise some suspicion when you encounter a cheap price. In most cases, the price of the property is cheap because the location is not attractive. It can be caused by high crime rates, prone to natural disaster, or the neighborhood is not developed.

If the value of the area is low, you will not gain high profit from your property. Let alone profit, it can even be very hard to find buyers and tenants. So, remember that location matters. Even though the initial price is high, if the location is attractive, high return-of-investment is already on your hand.

Do You Need Loan to Buy the Property?

Buying property for investment is actually similar with buying a property for you to live in. You don’t have to pay everything upfront since getting a loan is always a possibility. Getting a loan is actually a good thing to start investing in property, especially if you want to put the building for rent.

But before you make a visit to the bank or to the loan company, make sure that you have a great planning on how to pay the loan. What you are going to do if you cannot find a tenant and don’t forget to improve your credit report just in case you need another loan in the future.

Choose the Tenants Carefully

Don’t just settle with the first tenant that comes your way. Screen them well and make sure they will take care of your property. Don’t forget to make an agreement on who will be responsible to pay just in case the property is damaged while the tenant is living there.

Importance of Ensuring Quality of Your Construction

Importance of Ensuring Quality of Your Construction

When buying a property, regardless of where it is located, the most important thing for you to consider is without a doubt the quality of the building construction. Buying property is, indeed, a huge investment, but that is not the only reason why we all must take into consideration of the construction quality. The safety of you and your family members is one of the most important reasons why quality should always be put on the top of the list.

As we can see, a construction boom is happening all over the country. Not only residential housing which are currently being built here and there; shopping malls, hotels, factory, and even office buildings are being built at the moment. With the land space that is limited, developers must compete to purchase the land intended for their construction projects. The price per meter of the available land sky-rockets as a result – this leads to another issue, with land spaces become so expensive, developers do what they have to do to maximize profit while at the same time, still make the residential units affordable. More often than not, the one thing that these developers choose to sacrifice is the quality of their construction. They can achieve this by choosing cheap materials for the building construction they are developing. Does this mean cheap materials cannot offer us the safety we deserve? Read on to learn more.

Quality of Your ConstructionFirst and foremost, any building must have the capability to adequately carry all the load we put into or on it – this refers to furnitures and many other things. Not only that, the building must also have the capability to adequately carry the gravity load. On top of that, the building in question should be able to hold off against any natural calamities – from severe storm, to earthquake which it may experience at one point of its lifespan. Cheap raw materials may do its job at giving us a space to live and protecting us against the aforementioned natural calamities, but to what extent and for how long? The magnitude of loads and the severity of the natural disaster are two things that cannot be predicted, and if there is one thing that we can be sure of, it’s the fact that cheap materials cannot withstand the challenges, let alone provide resistance against such stressors as good as premium quality materials.

However, there is always one caveat that comes with quality: the cost. The better the material used, the more expensive the end result will be. When you build your own construction, quality control can be easily done – but how do we control quality when we purchase it from a developer? The best way to find out is by purchasing a property strictly from reputable developer. This is due to the fact that reputable developers and companies always hire experts and the best engineers to ensure workmanship, on top of that, they also provide prospective buyers with reports regarding material tests of the materials they are using in construction to help their prospective buyers make an informed decision.

The Importance of Roof in A Construction

Many homeowners may not give their roof a second thought until someone asks them “just how important your roof is to you?” The question may seem silly, but it needs to be addressed for one simple reason: homeowners often overlook the importance of a good roofing construction and roofing ventilation as one of their home’s working components.

Imagine investing two hundred thousand of dollars in a real estate, you will approach your property as a valuable asset which requires modest oversight from time to time in order to assure you of maximized return. A proper inspection and review on whether or not your asset needs protection measures to be done to protect it against any potential damage should be done periodically – this is exactly what happens with your home. As a homeowner, you understand the importance of the protection measures needed to make your home a great place to live. You do all you should do to keep your asset at its best condition, but despite your best efforts, you manage to forget a part of your asset until it’s too late: your roof.

Roof in A ConstructionOut of sight, out of mind is what happens with the roof. Homeowners often overlook this important component until it fails and they get in trouble. With other parts of the home’s construction, homeowners can conveniently locate the problem and repair it right away before the damage becomes more serious due to the continuous maintenance done by them on a regular basis. But the roof? More often than not, homeowners cannot catch the damage as early as other parts of the home which often results in a complete replacement. That is exactly the moment they realize they have been neglecting one of the most important components in their home’s construction. The following is a list of the most common roofing problems homeowners must be aware of:

  • Leaks

Our roof is our shield from the wind, snow, rain, hail, debris, and many more. This heavy work takes a toll on our roof, and all of the aforementioned condition always leads to one thing: moisture. The moisture that our roof is collected over a period of time  does not only cause rot and mold which leads to leakage, but also shortens the roof’s lifespan. A periodic inspection and maintenance cannot only help you avoid leaks, but also help you avoid complete roof replacement that is extremely expensive.

  • Punctures

Extreme weather, wind and storm can damage your roof by causing penetrations or punctures in the material of your roof. When punctured, your roof would not be able to properly protect you and your family members from the heat or cold.

  • Ventilation

Proper ventilation is an integral part of what makes your roof last longer. The correct installation will allow your roof to regulate proper ventilation, in which the warm air can escape though the top side of your roof and the cold air can instantly be drawn through the bottom side of it. Not only does the correct installation lead to proper ventilation, it also leads to better moisture level control.