by Alex Paterson
If you are thinking of going into the business of property rental there are a few things you need to have at the forefront of your mind. Even after you have gone through the difficult process of choosing tenants, there are still things you need to be aware of. Good, watertight rental agreements and your rights when it comes to collecting rent are two areas you would do well to put a lot of thought into when you set out to let a flat or a house.
Rental agreements can be a tricky area for landlords, and it is vital you get them right. They need to be well written so that they are legal and you need to make sure they do the job of protecting your rights and your investment. Some areas you need to take into account when setting out this agreement are; type of tenancy, duration of stay and the review period and procedure for the rent amount.
A periodic tenancy is often preferable for both landlord and tenant in the renting of houses and flats. This usually means the property is rented on a monthly basis. The advantage of this for you as a landlord is that to finish an agreement with a tenant you need only give written notice thirty to sixty days in advance of when you want the tenancy to end. It is important to keep in mind though that this means the tenant who is renting your property also has the same right, which could leave you with a vacant house with little warning. It is important you investigate all the different types of tenancies before settling on the one that is right for you.
You need to also make it clear to your tenant in your agreement when the present rent structure will be reviewed. This will make it easier when the time comes to raise the rent in line with inflation or due to any improvements you may have made on your property to let.
Collecting the rent is another area that can cause conflict between you and your tenant. You need to make sure that the method you decide upon is convenient for you but also for them. It may seem like the obvious answer to pick up the rent in cash if you live nearby but some tenants may consider this to be an invasion of their privacy. A direct deposit into your account may be a better option.
It can be very difficult to know exactly what to put into a tenancy agreement. Drawing one up can make renting your property a bit of nightmare if you have not done it before. Sometimes it may be easier to just take the task to an expert in the field.
About the Author:
Rent a house that suits you the best this is what Alex Paterson has to say in his website Plets.co.uk. Get a fantastic 2-3 or even 5 bed roomed townhouse with beautiful Beach view. All this and lots more only at
Plets.co.uk
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January 7th, 2009 | Posted in Real Estate | No Comments
by Mary Bush
The assets industry professionals are some of the busiest people of the working community. They deal with clients, prospective clients, and contacts and maintain their records on paper or electronic databases. They have a lot of deadlines to meet in short periods of time and as they have to simultaneously deal with a number of situations at a given time, they can be pretty haphazard in the way they organize things around themselves, which in turn increases the complexity of their work and reduces their efficiency. Following a few real estate office management guidelines will do them good
One of the foremost criteria for enhancing work efficiency is to work in a systematic manner. The first step in this direction is to identify the routine activities and the ones that are done under special circumstances and develop a working methodology independently for each of them. The routine activities should be organized well. The daily input, daily processed information and daily output information stores should be maintained well. The staff handling these data store should be trained on handling them in a formal procedural manner.
The real estate office management staff should design a concrete system to deal with data storing and processing, and following the system should be made mandatory for the relevant staff. This will ensure fast retrieval of data when dealing with clients. A good assets managing firm will always try to take precautions against any special situations that they might encounter. Hence, if electronic databases are being used, then it is always better to be prepared with backups as electronic systems are highly susceptible to viral attacks and technical failures.
A good way to eliminate chaos in the work environment is for the real estate office management firm to make individual job descriptions for all its employees. These job descriptions should be conveyed clearly in writing to them so that they become aware of their individual roles and work accordingly. Assigning a particular job to only one person and not to more people will eliminate confusion. If a job is too huge in quantity or is highly complicated one job can be allotted to more than one person. But in that case, the role that each and every member of the delegation has to play should be conveyed clearly by the team leader.
Real office estate management gurus opine that it is always better to make any modifications and up dates to the databases as and when required rather then take them up as a separate task later on. This error usually happens where paper databases are used as the modifications and up dates have to be done manually. But in the case of electronic data basing this problem is overcome to a large extent as the effects of a change at one point ripples across all the relevant areas of the database automatically.
Lastly, an important criterion of commendable real estate office management is to organize the physical workspace systematically. The tables should be kept neat and tidy. Storing files and paraphernalia should be done in a logical manner so that accessing them does not take a lot of effort and time. A neat, hygienic and organized workspace reflects an efficient working environment. Managing workplaces is an art and it reflects the personality and work efficiency of the people working in that place. It makes the organization efficiency wise trustworthy in the eyes of the clients.
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January 7th, 2009 | Posted in Real Estate | No Comments
