Property – Should I Sell or Rent ? Evaluate

Property – Should I Sell or Rent? Evaluate Your Options

Umpteen Property owners, due to a variety of reasons, decide to move into a new home. One question that could be flashing unfailingly: Should I sell or rent out my house? It’s a big question to evaluate.

No doubt that you will open up a fresh stream of Income for you but you could as well be slipping into a landlord role – strong responsibilities and headaches!

Property

But can you afford to own two homes?

Your existing home, current property, may still have running home loan installments. Additionally, your new home would need fresh financing. Obviously, you would have checked your eligibility for the same. Do the math on the return of Investment of a rental.

Calculate if the rental income covers the installments for the new home. Check the rent section at Magicbricks.com for current rentals in your area. Or contact the Real Estate Agent in your locality.

Please note that you will also have to incur costs for the rental property like maintenance, repairs and if you opt, Property Management. There may be times when the rented house sits empty between tenants. If your rent income does not cover your required monthly outgo, you may end up taking a monthly loss.

Please also check with your tax consultants for benefits related to home loan interest, property tax, operating expenses, depreciation, and repairs.Also, consider the “opportunity cost. “ Evaluate whether you would potentially make more investing that money elsewhere, such as stock market or other retirement vehicles.

Intangibles

You will be becoming a landlord, Congratulations! but be careful. Are you in a position to take additional responsibilities? Will you be able to tolerate the stress that comes with being responsible for the home you are living in, as well as a rental, particularly if it’s long-distance?

 

Rental Property – Save Water and Boost Your Cash Flow

Better Plumbing Fixtures in Rental Property Saves Water and Money

One of the most overlooked aspects for Rental Property Owners

In my years as a rental property owner, I’ve learned the importance of paying attention to costs. There’s one cost, in particular, that is very easy to overlook, yet it has the potential to sabotage the profitability of every property I own. The Water Bill. In some cities, it’s easy for landlords to simply make their […]

via How to Save Water and Boost Your Cash Flow — REtipster.com

Property Management Services

Property Management Services

Property ManagementSelf-Management Vs Property Management Services

In India, rented properties have been self-managed by owners themselves, acquiring a couple of properties and then renting them out. The hardest part is rental management. Owners must start looking at Property Management Services firms to remove the stress out of Rental Management. It’s an internationally acclaimed concept.

Real Estate Agent – Why Chose Us ?

What Does A Property Management Services Firm Do – 1?

This firm has Professional Property Managers. They follow the following steps

  1. Marketing your Property – Professional Property Managers advertise your Vacant Property to attract the right tenant
  2. Tenant Boarding – It includes screening, background checks, credit worthiness, employment history etc
  3. Legal Aspect – A Professional Property Manager’s first goal is to protect his client always. They are experts at drafting tenancy agreements aligned to all relevant laws.
  4. Rent Collection – While a good landlord-tenant relationship is strongly encouraged, your tenants will walk over you if you let them. Property Managers will act buffers between you and the tenants. They act as the bad guys. They chase down rent, follow-up on payments, keep records and evict tenants who fail to honor rent payments.                                                                 Although you stand to lose only a couple of bucks as payment for the services, it comes with many benefits, which collectively bring in good return thus making it a worthwhile engagement. As you begin the process of seeking a property management firm, remember to settle for a reliable one, which knows just how to leverage to produce excellent results http://wp.me/P8ei6B-7 .
  5. At Royal Real Estate we offer you an efficient Property Management service. Headquartered in Navi Mumbai, we also offer this service in Greater Mumbai, National Capital Region – Delhi, Gurgaon, Noida, Ghaziabad, Meerut, Chandigarh, Bangalore, Hyderabad, Pune & Chennai

For a detailed and international perspective please click on the link below

Self-Management vs Hiring a Property Management Firm

When Should a Landlord Hire a Property Management Company …

One of the biggest decisions you’ll make as a landlord is whether you should hire a property management company. Many landlords manage properties on their …