5 Tips to Consider While Listing Your Property Online

You might think that listing the property online is really easy; of course it’s easy, but if you do it without the proper guidelines, nobody would bother to take a look at your listed property which ultimately makes your listing a waste. You must be aware that, with the advent of technology, there are lakhs of online property listings today. But how you make your property stand out of the others is what makes it interesting. Here are a few tips to list the property online, following which will increase the chances of your property getting sold or rented out soon.
A Short and Appealing Headline: Headline is really an important thing to be considered while listing your property online, as it’s the first thing people get attracted to. So make sure that the headline is short and crispy, so that it will have a good first impression on the potential buyers. Also, it increases the chances of your ad getting noticed, as a messy or incomplete headline can turn off the buyers.
Provide enough Information: While posting your property, there are lots of things to be considered like the location of the property, amenities, configuration, and furnished/unfurnished status, price and so on. Make sure you explain each of these things in at least a line to make the buyer know more your property. Also, don’t add any information that is irrelevant making your description lengthy and meaningless.
Appropriate Photos and Videos: Have you heard a phrase ‘Seeing Is Believing’? People tend to believe what they see. So make sure you provide some good images and videos that support your property advertisement. The photographs which you provide must have good resolution and must cover both the interior and exterior of the property. You can also add a walkthrough video covering all the areas; it establishes the authenticity of your property.
Property Verification: Get your property verified by the field executives; this establishes accuracy, legitimacy and validity of your property. Getting a verified seal can eliminate the distrust and establishes authenticity. As people are more worried about the fraud properties these days, it’s has been an important thing to be considered while listing the property to show that the property is genuine.
Provide Infra-updates: Provide users the information about what’s around your property like distance to the important landmarks from your location. You can mention the distance to the nearest malls, hospitals, restaurants, banks and other important places. Buyers always like to go with the property with a well-developed market in the vicinity.
Along with these tips, also consider providing a few additional details like the floor number, the property age, which side it is facing and so on, so that it grabs the attention of users soon. Be clear with the details like your phone number and email id, so that the interested buyers can contact you easily. Following all the above mentioned tips while posting your property online can certainly help you get it sold or rented out soon.

How To Rent Your Property Quickly

One of the questions I get asked most is “How do I rent my property quickly”, to which there is no straight forward simple answers, but rather a combination of things that will all contribute to getting your property rented out quickly.So, should you accept a reduced price, or hold out for the asking price ?An empty property can destroy your business when it comes to maintaining your cash flow on your property portfolio, especially if you only have a few rental properties. The cost of having to pay for the mortgage each month the property is empty soon starts to add up.A lot of landlords tend to hang out for the ideal price that they think the property is worth, but often this can backfire on them.For example, we had a property on the market at £500, and an offer of £475 is made by a potential tenant. The landlord has rejected this offer as they want to hold out for the right price. In some circumstances, I can understand this, especially if the property has already been brought down in price. But the property may only be worth £475 per month for most tenants, perhaps £500 for a tenant willing to pay more, but waiting for that right tenant to pay the full asking price can take a while longer.
Assume we have a tenant who wants to pay £475 per month, but the landlord is holding out for £500 per month. The property is left empty for a further month until rented they get their desired £500 per month.But its not only a months rent he’s lost, as he’s also had to find the money to pay the mortgage from his own pocket. Just to pay the £475 in lost rent would take 19 months to cover the lost rent. (assuming no more voids of course). Often, its simply better to take the price that the tenant is offering, especially if you can perhaps tie them into a 12 month contract as opposed to a 6 month contract. This means less voids, which is what really kills a landlords business.
Often, Its better to accept slightly less for your property, than to lose another months rent while waiting, as to recoup that money will take a very long time.Listen to your previous tenants.
If you have a high turn over of tenants. There’s a reason for it. Sometimes, there’s problems with other tenants in the block, other times its because the property has some problem, perhaps a bit of damp, or the boiler keeps breaking down etc. Although repairs to these sort of problems cost money, it costs a lot more money having to find more tenants and have voids in between tenancies. Pay the money, and get your properties back up to scratch. Its makes better sense in the long run.”Kerb Appeal — the nicer on the outside, the nicer on the inside, or that’s how tenants will perceive your property”The use of furniture to create a “lifestyle” that tenants can aspire to …
Some landlords think that you can get away with putting in sub standard furniture.
But these days, tenants can be fussy about where they stay due to the sheer number of rental properties available to them. Therefore, modern contemporary furniture can really help set that “lifestyle aspiration”. There is also an issue with the standard of the furniture to ensure that it complies with the fire regulations. Some landlords even buy second hand furniture, however, this can often be a false economy.There are numerous furniture package companies out there that can furnish the property for you, but choosing the right one can be difficult. You don’t want to spent too much on your furniture, but then you want to ensure that the furniture is suitable for the property. Spending over £5,000 on a furniture package, will probably leave the property looking fantastic, but when the tenant moves out after 6 months, it never looks anywhere near as good once its been lived in!The other problem with spending too much money on furniture packages, are that if a tenant puts a cigarette burn into the £1,000 leather sofa, often the bond may not cover the damage, especially if they have damaged something else, pulled the towel rail off, smashed a vase, taken the towels and bedding, etc. A furniture package company can also build and install all the furniture for you, making it very easy to do, and leaving the property looking like a showhome.Building wardrobes, beds and the like, putting dining tables together, and hanging artwork is hard, time consuming work, and often, if you’re anything like me, the job you do isn’t as good as a job that professional furniture installers can do. Think about how you’ll be getting the mattress home, or how long it takes to build everything, that’s lost rental income. Not only that, but every day the property is not rented, that’s rental money that’s lost. Ive known landlords spend 6 weeks furnishing a property, only to wait another 6 weeks to find a tenant, a total of 3 months waiting !To what extent should you furnish?
We’ve found that the more furnished a property is, the more chance it has to be rented out. It shows attention to detail, and it also adds to the “weight” and “depth” to the property. Fluffy cushions, flowers in vases, twigs and artwork and the like are also very useful in creating the right “ambience” and feel. All of this helps get the property rented out.”Fluffy cushions, lamps and artwork help finish the look, especially in the main bedroom.
Always make the bed, as tenants hate to see just a bare mattress, it makes the room look cold and uninviting. The main bedroom is an important room, make it as nice as possible.”Tax incentive …
Always check with your accountant, but if you rent furnished you can claim 10% depreciation against the rent for wear and tear (UK Based, elsewhere then double check). Again, always double check with your accountant, but this can help you make your property business a little more profitable.Switch the lights on, open the internal doors …
If you’re doing the viewings yourself, try and get there a little earlier and switch all the lights on, maybe open a window or two. Also, the investment in some door stops is very worthwhile. Open up all the internal doors, especially on apartments, as often it looks confusing when all you can see are doors and you may end up going into the bedroom 2 first, rather than the lounge which is where most viewings should start. Show the best room first, then the rest, and leave a nice room to last. Bathrooms can be a good end point to the viewing as this can often be a room to help sell it, if presented property.
The other thing about opening the internal doors is simply that it lets in lots of natural light. I’ve seen the smallest flats look bigger with more natural light.Be nice to your Letting Agent !
Many landlords do not have a great relationship with their letting agent. A lot of landlords see their letting agent as a barrier to getting their property rented out. But most letting agents are eager to get your property rented out as quickly as possible. They’re also ideally placed to help you out, and their advice is invaluable. If you think about how much varied experience they have dealing with tenants, landlords, getting paid, etc and think about how many properties they see and the types of properties they see, they are a wealth of information, but only if you deal with them correctly.The best way is not to bother them with why your property isn’t rented. A little bit of polite leaning on them can and does help, but becoming a pain simply means that they wont want to deal with you. Let them do their job, rather than bombard them with phone calls. Its fine to get an update on the property, and on the market itself, but calls in every other day just wont help your relationship with them.To be honest with you, any letting agent that has time to call the landlords for a nice chat and an update every few days is doing something wrong. Many letting agents would prefer to return their calls to potential tenants, and not to landlords. While this may seem a little odd as, after all, it is the landlord who has asked the agent to rent the property for them, it is perfectly logical.Whilst on the phone to the landlord, the letting agent can not be on the phone to a potential tenant and this can be very frustrating, especially if the landlord is phoning for the 3rd time that week asking for an update. Imagine if every landlord were to phone up, then the letting agent would never get anything rented out, so let them get on with their job !Good luck on the getting the rent you deserve !

Property Managers, Commercial Tenants and Evictions

Your commercial tenant failed to pay rent. You have heard that things are not going very well for them, but now it is apparent. As a property manager your duty and obligation is to resolve the issue as quickly as possible. When the tenant failed to pay by the due date they have effectively breached the lease and you are entitled to evict the tenant from the property. An eviction lawsuit commonly called an Unlawful Detainer action is a fairly straightforward legal process. The important thing for property managers to know is that the steps involved in this process are critical and must be followed to the letter of the law. A real estate attorney representing both parties in the action is common. If your property manager has followed the law, given proper notice, and has a detailed file of all of the correspondence between the tenant and their company the unlawful detainer action should go fairly smoothly and the landlord or owner should prevail.The First Step Is To Resolve Rent Payment Issue If PossibleIf at all possible the property manager should make every effort to get the tenant to make the rent payments and bring their lease current. If this involves waiting a few extra days for payment maybe this would be the best course of action instead of filing a lawsuit. Your individual company policies and best practices will dictate this action, but it would be better for all parties to resolve before litigation.Three-Day Notice Drafted If a payment is not forthcoming then a ‘three-day notice to pay or quit’ must be prepared and properly served on the tenant. This notice must be in a specific legal format. A commercial owner, landlord or property manager can choose between different types of 3-day notices; 1) specifies the precise amount of rent owed; or 2) estimates the amount of rent owed – usually when a tenant is paying a percentage rent.If the lease requires the tenant to pay rent and other separate amounts for triple net or CAM charges, the property manager should get the proper advice on whether or not two separate and distinct notices are required to be served. For example, if the property manager or landlord accepts an overpayment of the rent because they have miscalculated and the tenant overpaid estimated rents and CAM charges this may lead to a tenant victory in the unlawful detainer action. This would also possibly give the tenant the right to attorneys’ fees. It is critical to be correct in this step.The Three-Day Notice Must Be Properly and Legally ServedThe tenant is deemed served when they are personally served with the three-day notice, or a responsible person at the place of business is personally served on the premises. In the event no one is available the landlord or property manager can attach the notice to the front entry door of the business premises while simultaneously sending a copy of the three-day notice by certified mail return receipt requested. The landlord or property manager must then prepare a ‘proof of service’ in the proper format which states in pertinent part that the ‘three-day notice’ was served on the tenant, or describe the method of service.The Property Manager or Landlord Has a Three Day Waiting Period Required for Service to be EffectiveAfter properly serving the three-day notice a three day waiting period begins on the next business day. If the third day falls on a weekend or holiday the three day waiting period is extended to the next business day.If the tenant decides to pay all rent due at this point or corrects any outstanding violation of the lease terms then the eviction process ceases. If the tenant makes partial payment the landlord or property manager can accept partial payment but must notify the tenant that they are not waiving their rights to proceed with an eviction.In the event that the tenant has violated the lease by way of some criminal act or conduct then the eviction process continues.At the end of the three day waiting period the landlord or property manager may go forward with filing and serving a complaint and summons.Summons and Complaint are Prepared and ServedIn the event that the tenant has failed to cure their outstanding rent violation, or failed to cure any other violation that they have been property notified of, then the landlord or property manager may proceed with filing and serving the summons and complaint to the tenant. A third party not involved with the action, typically a registered process server can be hired for a fee to serve the papers on the tenant. The summons, complaint and proof of service must then be filed with the court clerk’s office together with a copy of the lease, and then property served three-day notice and its proof of service.Technical Mistakes Can Cause DelaysIf the landlord or property manager has taken this process on by themselves there is a possibility that they have made a technical error in the processing, preparing, serving, and filing these documents. There are several technical areas of the law which must be followed or will result is substantial delays if they are not. A tenant who hires an attorney will likely find these technical errors, if the court doesn’t find the errors. This will likely result in delays which means money to the property owner. The best course of action in these situations is to hire an eviction attorney to help prevent delays and additional costs for the owner.Court Proceedings Require that All Parties Appear in Front of a JudgeIf the tenant does not contest the evictionA properly served tenant has five days to oppose the eviction. If substituted service was used then the tenant would have fifteen days to file a responsive pleading to the action. If the tenant fails to oppose the eviction the landlord or property manager will seek a default judgment of possession of the premises. This will most likely be granted and the case will be referred to the Sheriff’s office for tenant lockout (see below).If the tenant contests the evictionIn the event the tenant hires an attorney and contests the eviction then things will take a while longer. The tenant will be granted more time to prepare and there will be approximately thirty-day period in which a trial will be set. If the landlord wins then the tenant will have to pay the rent and other losses most likely including attorneys’ fees. If the tenant wins the landlord may have to pay attorneys’ fees. In this situation a property manager really needs to be represented by counsel.The Landlord or Property Manager has the Right to Lockout the TenantAssuming a landlord victory the county sheriff will post a ‘Five-Day Notice to Vacate’ the premises on the tenant’s door or entry into the business. On the sixth day the sheriff meets the landlord or property manager at the property. The landlord or property manager then receives a receipt of possession of the property. If the tenant is still there when the sheriff arrives, the sheriff will then physically remove the tenant. The landlord or property manager will now have a locksmith come and change the locks to keep the tenant out.Notice to Claim PropertyIf the tenant leaves behind personal property there are state statutes that deal with this specific issue. The landlord or property manager must give the tenant fifteen days after the lockout period to claim any possessions from the property, or if the tenant left before the lockout, eighteen (18) days after the mailing of the “notice of belief of abandonment” to the tenant’s last known address. The notice must describe the property with specificity so the tenant can identify it, and the notice must also describe the storage costs. A prudent practice for a landlord or property manager would be to photograph and log all of the tenants’ belongings so that there was not a later dispute.It is not legal for a landlord or property manager to hold a tenant’s personal property as security for payment of money awarded by a court judgment.Unclaimed Property Disposed of or SoldWhen the fifteen day waiting period is over the landlord or property manager can dispose of the tenant’s personal property if it is worth less than $750 or $1.00 per square foot, whichever is greater. If the property is worth more the landlord or property manager must auction it through a public sale held after properly published notice with the proceeds turned over to the county, minus expenses.ConclusionAlthough this article has briefly touched upon this process one should see that this is not a simple process, but is a process which should be taken seriously and professionally. It is always a best practice to have an eviction attorney help a landlord and/or a property manager through this process.