Investing in real estate has become a trend in India. Not only the residents, NRIs are also showing a great interest in Indian properties. Owning a house is a symbol of prosperity but owing more reflects affluence. Despite the fact that investing in Gold and Mutual Funds is more convenient and beneficial, real estate tops the list. 2007 was considered as the golden era of real estate in India and the boom subdued subsequently but seems like 'Achhe Din' are back. The number of home buyers is rising. There would always be a need for homes to live in, so this makes sense to buy a property. Let us see some facts that one need to know before buying a property this year.
Aside from negotiating and sales, tenant screening is the most profitable skill a landlord can have. Why do I say that? Because if you don't screen tenants you won't have a profit. This month we are going to discuss how to properly screen a tenant. I have purchased several homes from beat up and tired landlords and it almost always was because they did not screen the people they put into their homes. It is important to understand that as a landlord you are providing a significant amount of credit and you need to protect yourself like any other creditor would.
Why should I hire the services of the rental property management organization to look after my property given on rent? It would be the first question from every landlord who has given his property on rent, if you ask them to use the services of any such group existing in your city. You will agree that when a person lets his house or any part of his house for rent, his main goal is to earn profits from it to enjoy a better life and make payment of his various bills.
Suppose you are going to court to evict a non-paying tenant. This should be a no brainer. But in this case, the tenant had a countersuit, claiming the house needs repairs. Watch out!
Turnkey, that vacancy period when a rental property is being renovated or prepped for marketing, creates a potentially perilous situation for property managers. Indeed, depending on the terms of the management agreement, it could be a no-man's-land, rife with proverbial, booby-trapped landmines that could indiscriminately explode without notice.