Monthly Archives: May 2019

Tips to make your Vacation rental property business successful

know the value of your property

Customers or guests are the God for any business. Their satisfaction should be your utmost important thing. To run any business successfully you should focus on customer’s services. It should be up to the mark.

Make sure things are perfect when renting out your vacation rental property. Otherwise, your property business will turn down and you will have to face the vacancy issue. The most important thing is the client’s dissatisfaction will turn into negative feedbacks and negative word of mouth which leads to severe losses.  

To know the value of your property hire registered valuer NSW and get the valuable advice.

1. Stay in contact with tenants – Either via mail, text or telephonic conversation stay in touch with your customers or tenants. It is the most important and essential to be a vacation rental property owner should do. If you personally can’t match up and do all these things you should hire a property management company they will do all these things from you from check-in, check-out of the guest to keeping the property clean and tidy, to resolve the short-term tenant’s issues to collect the payment all this will come under the property manager’s task and you can enjoy your ownership.

It is important to send them thanksgiving message when they book your property for the stay even after when they leave. Also, make sure when they arrive you or your property manager should be there to receive them and check all things are in good order or not.

2. Keep your property clean and tidy – The odd part of the short-term rental business is tenants come for short duration they come and go. Meanwhile and after the check-out of one tenant, you should ask your cleaner to clean the property thoroughly. Before check-in of another tenant, make sure beds are properly made and kitchen and bathrooms are cleaned properly. You can hire a cleaning company and make a deal with them. Then it’s their duty to deep clean every corner of the property. As no guest likes to have cobwebs in the corner and messed kitchen.

3. Check the electric appliances are working properly – People choose to stay in short-term rental property just because they want to live in a home-like place even in a strange city. Before they arrive, Check all the electric appliances like Air conditioner, heater, oven, Wi-Fi, Geysers etc. are in working condition. Always remember to have regular maintenance services thus would keep you away from critical issues when tenants arrive at your place. If in future any issue arises then say sorry and fix the issue as soon as possible. Call the professional to repair the electric devices.

4. Handle tenant complaints smartly – Look you want to run your vacation rental business successfully. So it is important to satisfy your clients thus they spread a positive word of mouth which makes your business big and property occupied. Though you always try to make everything perfect for your every tenant. But we all are imperfect in this imperfect world and mistakes happen, issues arise unexpectedly. In this kind of situation, you should make an apology in front of the tenants, except for your fault. Try to resolve the issues as soon as possible. Even you can waive some rental amount. If the issue is major you should help them in finding another place to stay and refund their previous payment.

These are the tips to make your vacation rental property business successful. For the best property valuations NSW, contact us.

Know the habits of successful real estate investor

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Investing in real estate business is profitable. Smart investors hold some attributes which brings success and accolades to them. Well, property valuers Sydney play a major role in guiding the investor. But to become one must work on these qualities which helps them to achieve their goals. Here to help you in becoming good real estate investor you must inculcate these qualities in you –  

Plan well – Good real estate investor know the importance of planning before investing. The quote well explain the importance of planning –

                   “The One who fail to plan, is actually planning for failure.”

To become a good real estate investor one must have strong planning attribute. Plan big and small goals to work according to the set plan. Don’t get distracted by small setbacks just focus on your major goals. Ups and downs are the part and parcel of an investors life.

Keep learning on – Property market trend chances quickly. So it is vital for you to keep yourself updated in order to become a good real estate investor. The laws, regulations, trends, economics, local market knowledge is crucial to become a successful real estate investor.

                                                         “Knowledge is power.”

You can learn from podcasts, books, e-books, research papers, hire a property valuer Sydney, hire a property broker, join some investors groups, talk to people who know about real estate. These all will help you in learning well.

Understand the risks associated with the deal – No matter how smartly to done the deal. There is always some risk associated with the real estate investments. As lot many factors associated with the particular deal which influences the value of the property. Successful investors know the risk and prepared for the outcomes.

Understand the market completely – Smart real estate investor understand the depth of the local market. They know well about the customers spending habits, economics, market trend and more. They research and do study the market so well that they can easily predict the market condition and future trends. Which helps them in drawing decisions easily related to the property world.

Manage finance well – Real estate investment demands money, a large sum of money. Managing finance is essential to draw right decisions in real estate. Good investor plans his finances before investing. It is not only you should have all money in your hands. You can apply for loan too. You can borrow from banks and then pay them monthly installments.   

Create a network –

                                         “Network creates your net worth”.

It’s damn true. To expand your business you must have to expand your network. You should have good relations with brokers, financers, bankers, other investors, buyers and sellers. To become a good real estate investor you must have good relations in the industry. Building good terms with industry people help you to know about the current insights and information which is essential before making the important real estate property decision.  

To become a good real estate investor you should possess these qualities. For the personal guidance in every deal and to make most out of your every deal hire experts, hire property valuations Sydney and get the best advice which helps you to excel in real estate.

Follow these tips to buy your first rental property

residential apartment valuations in Sydney

Buying a rental property is always a lucrative one. As it is the easiest mode of generating monthly passive income. However, it should be kept in mind that your single wrong step would spoil your profit margins in real estate. So better to take advice from property valuers Sydney, discuss things with experts, take your time and understand the market and then make the calculative decisions. Thus you can enjoy your ownership to a large extent.

Here we are mentioning some first rental home buying tips –

Choose Single family home over multifamily home – For rental purpose buy a single-family home it is the easiest way to start your career as a real estate property investor. To look after single family home is quite simple as handling single tenant family is much easier. Whereas being a beginner you don’t have much idea. So it is good to start with something simple and easy.

Focus on ROI – Investing money in those properties which gives you good returns on investment. Find buildings or properties at prime location. Ask property valuers Sydney before deciding to buy the property. Think from long term investment and having strong planning regarding the investment. Location is the topmost element to consider in the real estate business, think of your returns before investing.

Create your own marketing plans – Marketing is essential for vacant homes in order to find potential customers. Your strategically designed marketing plan will help you in connecting to the right tenants for your property. Being an owner you have to keep your vacant property occupied every time otherwise it is going to eat your monthly passive income. The property valuers will suggest you how and when to invest in marketing.

Buy wisely, as per your knowledge – Property valuations Sydney says – invest in the properties, types of homes, or area which you are well aware of. If you are a retired person you know well about what retired couple needs you can buy a home which fulfills the retired couple requirement of having a home. Thus you can keep your rental property more occupied each time and every time.

Tenants screening – Bad tenants harm your property like anything. They are the only enemies of your rental property try to keep them aside. Property valuers advice – Scan the tenants thoroughly before giving your property to them. This is one of the most important tips to consider while buying first rental property.

Hire property managers – If you are buying a rental home for the first time, it’s pretty sure you don’t have knowledge about how to handle the tenants and their complaints. Better to hire a property manager when you are doing all this for the very first time. Though you have to give money for hiring a property manager your lot many things will get synchronized when you hire property managers. They resolve the tenant’s complaints, collect rent on time, hire new tenant if required. Thus all this makes the task of new property owner easier.

Follow these tips before hiring the property valuation Sydney services.

Which one to consider location or property type while buying the real estate?

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Investors invest their money in real estate in order to earn more money. Property valuers Sydney says – “There are certain elements to consider before investing money in real estate.” Real estate property investment business is not the easy one. The most difficult for investors and property buyers is – what to choose among location and property type? Location is where property is situated and property type is the type of property to choose.

Before all this property valuers Sydney suggests to find your purpose. Why you are buying the real estate? It can be you want your own home or it can be for an investment purpose. But the first and major step is to clear your purpose.

After deciding the purpose now come to the common question which creates difficulties in the mind of the property investors. Which one to choose – Property type or location of the property.

Well, here we are going to give you an overview of both options. There is nothing like a thumb rule to follow. So if you are new in real estate investment business then learn the facts about both the elements and then apply according to the situation and condition.

LOCATION – Property valuation sydney says – Location, location and location, this is the most common phrase which you have heard in real estate market. Yes, to be true, location of the property matters a lot. As location gives you amenities and facilities associated with that location.

Either it can be proximity to a school, office, city shopping centres, shopping malls, entertainment clubs, parks etc. Location gives you a chance to enjoy your surrounding facilities. Have a home near office not only reduces your commuting time but also reduces your expenses and thus you can find more me time and family time. It overall improves your lifestyle.

Same if you are having home near hospital or schools and you are having olds and children at your home then living at such location is good for you. Buy property at nice and prime location increases the value of the property by time.

One should choose the property’s location as per purpose. If you are buying a home for your own then you must choose the location as per your family needs. But if you are buying for an investment purpose then consider where infrastructure is going to improve in coming days. This helps you in making money by buying a property at right location.

The best thing is you can renovate your home in best location according your need and requirement but you can’t change the location so better to buy the home in good location rather than finding a good property in bad location.

Property type – When it comes to choose property type – there are many options you want to buy commercial building or residential building. If you want a residential building then what type of you want – flat, condominiums, townhouse, multi-generational homes etc.

Well, every property type owns its advantages and disadvantages. You must check and analyse what and which is fulfilling your purpose. Then buy the property accordingly.

For instance, if you are buying a Multi generational home then you have to invest more money in maintenance of the home but the returns on investment are definitely going to be high.

You can hire the property valuer sydney to know the actual market of the property before buying any type property,  situated any where in sydney.