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THE LANDLORD’S GUIDE TO TENANT SCREENING.
Posted on 1st Jan 2018 16:44:04 in InfraStructure
Screening of Tenants:
Filling a Request Form: Try to make every potential tenant fill up an application form. Application form should contain almost all the information you want to know about the tenant, especially financial, employment and personal information. Also, the application form should specify that background check, credit card check, criminal history will be asked for if required. Application form should have criteria to fill up last landlords details, employer’s details, family details. Detailed description on personal lifestyle which can include food habits (Veg/Non Veg) , pets, number of people in family, etc. Bank details to make sure if there is any gap in rent payment in past.
Back Ground Check is a must: Background check helps to know about the tenant in detail. Make sure you check the reason of leaving the last place (if in case there was an eviction), to know the criminal history if there is any, also to know how the person behave in general. Many companies have investigatire to make sure that back ground check is done properly.
Interview the Tenant or people connected to him if required: Have a personal interview of the tenant. This can help you know the tenant in more better way along with his behavior and personal life. Try to talk to the tenant in a friendly way to know about the likes, dislikes, also if he smokes or drinks, or prefer partying at home. what are his work timings. Also how frequently does he have guest and mostly whom to expect. Also as a landlord, contact the previous landlord or the employer of the tenant if required.
Being a landlord, you are allowed to screen every possible tenant to let your property be given in a safer hand. Make sure, you get all the informations with all the facts and do listen to your instincts.
COMMERCIAL REAL ESTATE TECH TRENDS TO WATCH 2017
Big Data: Large companies are investing in real estate and it is very important for them to know if the property has potential and what are far sited benefits. Big data helps analyze the data properly and find pros and cons of the same. In present scenerio, technology like Big data helps to make real time decisions based on analyses and business intelligence. Big Data is making a difference by separating the smart from the crowd.
The Cloud: Cloud is in its booming stage when we all are already living in mobile world and surrounded by all kinds of technologies. Cloud helps you collect all data on your mobile device which can be accessed from any place. So forth, it has helped you increase connectivity and also centralizing the market as a whole. The physical presence is been reduced as cloud is helping people to work from which ever place they are and helping them by running a small device in their hand.
Solutions: The end to end solutions is helping people gather information as fast as possible and also with all the facts. Also the technologies like 3D technology helps you find a real experience of the place making the decision easy and it has started taking up the market. From getting a look of commercial place to finding the locality, things have become quite easy and experience of user is improving the market and in turn the utilization of property.
QUESTIONS EVERY REAL ESTATE INVESTOR NEEDS TO ASK
Know your real budget: Make sure you do you proper homework and be realistic about the investment you are making. Being emotional and unrealistic is only gonna hurt you most of the time. Make budget according to present earnings rather then the hopes of future. Learn some maths, the math here is not some calculus, its just simple calculation to make a proper decision and make it big.
Find your limits to investment: Every time before making any investment, make sure you know your upper limits. Realistic approach is always best to make it a profit. Real estate is not something to be done in a day, try to be resolved, you might make mistakes, you might fail, but the struggle will get little easy just by being little realistic and learn from your mistakes.
Try to know your future plans before investing in it: Being aware about the future plans does help you in making a proper decision when it comes to real estate investment. The financial aid required for the future is most important and you should always consider looking for the ways to have clear picture about the future. Never leave your job until you are not sure about the ways to have a smooth earning for the investment that you are making in real estate.
THE REAL ESTATE CYCLE: HOW TO BUY LOW, SELL HIGH, AND BUILD WEALTH
Invest in Land more rather than investing in already built up properties: Raw land has always been the profit line for every investor. It does depend on the location or potential of the property in coming future. Whether the property is at a place which is developing with the growth or the place is already at a developed area.
Invest on commercial project: Commercial project always have proved to be the profit line for all investors. try to invest in commercial project which has got high potential of growth in market. Commercial project are rarely a failure, it also depend on the location, but investing in a commercial project has always been a profitable job.
Residential Property: Already developed residential area where is possibility of having an IT Hub near by, or increase in global investment and start ups are always good investments. Make sure the area and location is developing in coming years and all the amenities are available in the area near by. This will make a smart investment option.
START YOUR INVESTING CAREER OFF ON THE RIGHT FOOT
Make sure you do your homework: Remember to do you homework on where you want to invest and also how the things may turn in future. Sometimes its very important to know where you might land with the investment. Some make profits and some fail but there’s always a learning from these investments.
Be open to lots of reading: Well reading helps you to know the current scenario of real estate market. Make sure you read, read a lot and know what is the best option for you, because it’s a long time run along with the lot to invest. Reading helps you know the best options you have and also about the best to achieve out of it
Be ready for learnings: When it comes to real estate, its always a tricky job. Be ready when you start, you might fail, or you might succeed, but the struggle is worth the results you get at the end. Learn from all the failure and mistakes and improve your method of investing and especially the method to research on the topic.
HOME SELLING MISTAKES THAT ARE STOPPING YOU FROM SELLING YOUR HOME
Doing everything on your own: Its always a bad idea to do all work on your own when you are unaware of the reality of real estate market. Its always good to take a guidance or help of some one from the market. The people in market are well aware of the scenario and real time risk and possibility. Always make sure you are guided enough to not make any mistakes.
Over pricing or Under pricing the property: Proper pricing of the property is a must. Be realistic while making a final call about the pricing of the property. Over billing is a trend, Please make sure you examine your property and make sure you are pricing it in a better way. Under pricing is rare but still, making sure that both parties ends are satisfied is a must while selling your property.
Not advertising the sale properly: Proper advertising about the property helps in making a good start for sale. Make sure you advertisement contains all the USP’s (Unique selling Point) of your property, which can make it stand ahead of all and make sure you get a proper price of what you are selling.
THINKING ABOUT BUYING A HOME? CONSIDER THIS ADVICE
Work with experienced people: Always work with people who are experienced in the field, which will help you in knowing the current scenario of the market and also to know if what you are doing is correct or not. You aline may not make the best out of the options available but second opinion in these always helps in making a correct decisions.
Think about what you can afford, Be realistic: Always invest as per your earnings. Never think of future income while investing in real estate. The word itself explain, so please be realistic while you make a big decision of where to invest. Make sure you have all facts and figures in place and you plan your investment depending on present scenario of your budget.
Listen to what your brain says: The instincts that your brain has will always be some thing you should listen to. Do listen to your brains and make sure you have all the answers and facts to support your instincts. This will help your proper investment and also reduce your probability of making major mistakes in investing.
REAL ESTATE INVESTING: WHY RENTALS ARE THE BEST CHOICE
Cash flow: There is always a proper cash flow involved when it comes to rental. The cash flow is increased with time , which makes it a profitable job where as mortgage is the same. rentals increase with time. Rentals make you free from the responsibility of mortgage and also the liability of the place.
Avoid risk of investment: It helps you get our the tidious job of searching to invest and also to make sure your investment does not ditch in the middle. No risk of money involved plus all the amenities are available. Rentals are always the best approach whiny just start knowing the real estate market
Save time: You do save time in the research and also arrangement of cash and all loans when you get into rental criteria. Real estate markets more about luck. Rentals helps you get in no risk criteria and also save your time. Make sure the place you rent has all possibility of growth and safety
2017 REAL ESTATE MARKET: INVESTING TIPS AND TRICKS FOR NEWBIES
Check your bank balance: Check your bank balance and your statement before investing. Its very much important to have a realistic approach about the investment that you are planning for. With current life style, the investments are suppose to be made in a smart way and also to be done in proper process.
Explore your options: Make sure you explore all available and possible options. depending on what your job kind is, you need to make sure that you making a right decision of sticking to one place, since now the growth in most field also depend on the mobility of the person. Make sure you have made up your mind about the investment.
Have clarity: Its most important to know the real reason to invest , because then only the instincts will be able to have a back up answers with the facts. Think about the present income, think about the future plan, think about the settlement of you and your family in future and then plan your investment on this big field.