Tag Archives: property

Top Factors to Consider Before Investing in Commercial Property

Commercial PropertyReal estate investment is a great way to earn revenue for years. Like other investments, if you don’t start it right, you will find it hard to go on. Consider crucial factors before stepping into the murky waters of buying commercial property.

1. Property location

A prime location today may turn out to be a detestable one tomorrow. While you can’t tell the future of any place, you can make an assessment based on the past performance of businesses in the location you intend to invest it.

Moreover, ensure that people can easily connect to the place using rail, water or road transport. Is the location near important amenities such as schools, hospitals, shopping malls and recreational facilities? Proximity to such environments can attract more customers.

2. Costs

Although you need to consider how much the property will cost, don’t forget to factor in expenses you may need to address before and after completing the transaction. Examples are water and power charges, levy, repair costs, improvement costs and municipal fees. A look at these expenses will show you the property’s total cost and the possible returns if you choose to sell it.

3. Allowable property uses

Sentinelpg.com.au says your commercial property investment may be used for varying purposes depending on its location. While assessing the property, find out its current uses and know the businesses you can or can’t carry out in a particular area.

4. The reason for sale

Find out why the property owner wants to sell it. For example, if the seller is in dire financial need, you will be in a better position to negotiate and close the deal. If the seller can’t handle major repairs on the property, use this to know whether the suggested price is plausible.

These are among the main factors to keep in mind before purchasing commercial property. Remember them and you will reap the profits from your investment.

What to Consider When Hiring Real Estate Managers

Real Estate

Real EstateInvesting in real estate sounds great only if you have access to sufficient capital to the venture. The rental property, without a doubt, provides a steady income. Despite the venture offering a stable source of money, managing two or more properties can be time-consuming and sometimes stressful if you have others thing to do. For this reason, property managers takes away the hustle involved – giving you enough time to enjoy the profit of your investment and perhaps expand your estate.

Here are some things you need to look for when hiring your next property manager:

The experience

Before you trust a property manager in Brisbane, industry professional urbanproperty.com.au notes that you need to prove their capacity to handle any property. The potential company needs to provide a list of the current and past properties they have managed and perhaps the reason they stopped. In addition, they need to show you the frequency of eviction cases on their current properties. A higher rate indicates the inadequate capacity to ensure thorough screening of tenants on admission.

The management fee

When it comes to property management, you need to understand that the agency operates to make money. The cost, however, varies from one manager to the agency and is often tied to the kind of service that you get. While you are looking to lower the cost of managing the house, you should be able to balance between high level of accountability and the fee.

Management approach

Often, your building requires physical inspections and repairs especially when the occupants vacate the premises. The contractor needs to indicate the frequency of both interior and outer surfaces to keep the house in ambient condition. If you have a low tenant turnover, the agent may be required to make annual physical inspections on the interior side of the premises. They also need to highlight the mode billing for repairs and maintenance costs.

Reduce the rate of evictions through a qualified property manager. Before hiring one, though, it’s important to arm yourself with the right information to avoid lifelong regrets.

 

Online Property Listings Spell Success for Your Motel Sale

Motel sign

Motel signSelling a motel property using traditional marketing methods is challenging. Imagine the cost of advertising in newspapers or classifieds; you might end up going over your budget and lose more funds than what you prepared for.

It is for those reasons that Resortbrokers.com.au and other motel brokers in Queensland recommend the use of property listings online. These marketing tools will boost your chances of a successful sale. Here’s how property listings can help with your marketing endeavours:

Greater exposure to your target market

While people say newspaper ads will indeed increase your motel’s visibility, this is not always true in most cases. The reason? Most people nowadays look for such information online through their desktop PCs or mobile devices.

On the other hand, selling your property through listings will give it better exposure to your target market. Your property will be viewed in various online platforms, including websites and social media. These listings will increase your chances of attracting buyers for your motel.

Convenience for property buyers

Buyers will look up properties online because it’s more convenient. These listings are usually geo-specific, which means property buyers in your area will see your offer easily. Your chances of selling your motel property will become higher if people can find and see your property easier.

Build credibility for your ad

There are many misleading ads about properties for sale. As such, buyers will usually verify all the details about the property before closing the deal.

Property listings will make your offer more credible, which will help your motel sale. The pictures and other information you’ll feature online will give the impression that your offer is the real deal. Plus, the fact that the property listing site featured your motel sale ad means your offer is legit.

Selling your motel through property listings will improve your market share, reach your target market and make your offer more trustworthy. As such, it’s only practical to feature your ads in such listings than relying on mass media and other troublesome methods. All it takes is the right listing site to feature your offer.

Applying for a Resource Consent: Why, When, and How?

House

HouseAuckland’s local government is very serious about protecting the environment. It is too easy to do irreversible harm to the land if people are too careless. This is why land ownership does not come with absolute rights; even if you own a plot, there are limits to what you can do to it.

If you are planning to build a home, do major earthwork, put in a swimming pool, or do anything else that will significantly affect the land, you will need a resource consent from the Auckland council first.

What is Resource Consent?

The Auckland Council requires two types of consent: building and resource. Resource consent deals mainly with your project’s potential impact on the environment. Requirements will depend on the impact in not only your land, but the surrounding area as well. If you are planning on designing and building a new home, you will also probably need a building consent.

What is the application process?

The application for a resource consent will depend on several factors, which can make it very complex. Many experts like Cato Bolam Consultants warn property owners that a single mistake can set the process back and lead to unnecessary costs. The actual steps will also depend on which kind of consent the developer needs.

  • Land use consent
  • Subdivision consent
  • Tree consent
  • Certificates
  • Regional consents

Depending on your project, you may have to process applications for one or more of these. The council provides advice on what types of consent you will need, along with any additional steps you need to take.

How long does it take?

The council requires you to get a resource consent within 20 days of your application, but the actual process can take longer depending on issues that may come up. In most cases, the council will “stop the clock” to give you time to look into problems that may come up in their assessment of your project. Occasionally, the process can take months before you get the Resource Consent you need.

Getting a resource consent is not a simple process. The council does expect that you will get professional help to get it done right. It is possible to do it on your own, but it will not be straightforward, and you may pay more fees than you expect. At the very least, you should consult with an experienced planner to help you along the way and keep your costs down.