$795 / 400ft² - Studio on Beaver Park Rd., NO FEE, Parking Included (Framingham)

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Easy ways to add value to your home

Are you truly thinking about selling your home? If yes, then it is time to grab your old toolbox out of the garage. Be ready to get your hands dirty. The real estate market is becoming increasingly competitive. It is true that the price of your home is largely determined by market conditions; however, there are some easy ways to add value to your home.

Making your home aesthetically attractive before sale, is of great importance. The first impression is the last impression, and your home should leave a solid impression in the minds of potential home buyers.

Do you know the term ‘turnkey’? A turnkey home is the one where a buyer can move in instantly and start living happily without any worries about unfinished projects that obstruct regular home usage. The houses close to turnkey standards definitely have higher rates. Let us have a look at some simple ways to add to your home’s market value before you put it on sale-

• External Walls, Landscaping and yard lighting-

The outside of your home is the first thing a potential buyer sees. Obviously no one will invest in an old, ugly, dilapidated place. Try to make the entrance clean and attractive. If the walls are made of weather-board, check out if any replacement is needed. In case you have a brick home, get all gaps filled. For rendered walls, fill the cracks with fresh concrete. If a paint job is needed, do it!  Your home will look modern and pleasant with new paint. Fresh new colors will attract more buyers.

People definitely love a nice external appearance with a well maintained yard. You can change the old and tired look of your yard by investing in shrubs, new soil, trees or rockery. All these things will give a new life to your yard. If your yard looks boring, dead or messy, then potential buyers may be distracted. Your yard should actually look inviting so that potential buyers start to imagine themselves relaxing and sitting back in the yard with a cup of coffee and a book. Put new lights wherever necessary. It will create a new atmosphere. You can get a stylish yet energy efficient range in the market easily.

• Windows and Doors:

Doors and windows play an important role in keeping your home aerated and fresh, besides adding aesthetic values to your home. If your budget allows, invest in replacing old windows and doors with modern energy efficient stylish options. A house with energy efficient, attractive and environmently conscious doors and windows will definitely have more market value. Today, numerous options are available. You can even shop for the same through the internet. Check out the current trends and the options, which will work best.

• Internal floors- Nowadays, people always want their home to be stylish and easy to clean. Flooring is an essential aspect that adds value to your home. Your flooring should uniformly unite all of the various areas in your house. If your carpet or floor needs repairs, then get these fixed to avoid possible bad impression buyers otherwise may have had.
• Kitchen- A kitchen is an integral aspect considered while buying a house. If your kitchen needs your attention, then look for bench-top replacements, water taps or cupboards repair. Think about your potential buyer. Look at websites to get ideas about making the space more functional yet inviting.
• Toilets and Bathrooms-:

Aesthetically appealing, functional and user friendly bathrooms and toilets will attract more buyers. Investing in new cupboards, showers, bathtubs or toilets can make a big hole in your pocket. Here you need to act smart and make necessary changes within your budget. Try to repair small details like bathtubs and chipped sinks. Replace old light fixtures. Clean your exhaust fans.

Is this all overwhelming to you? Do not worry! First of all, plan your budget, list out essential repairs and then think wisely to make your house appealing to buyers in an easy yet cost effective way.

© Global Realty & Investment Corp 

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Choosing An Office To Rent: Considerations

An office is the foundation for any type of business. Every entrepreneur requires an office, and depending on the kind of business they choose, their office location and interior for the office. There are numerous important features that should be well thought-out by everyone looking for an office location for rent prior to making the final choice.

It is not that simple to rent an office. You need to give a good amount of forethought before choosing an office to rent. You need to consider how much time you will spend in the office. The two important factors that should be thought about are, location and cost of the office, and then there are many other details that you need to consider.

A location or site of your office is very important for the success of your business. Check out essential services available including public transport links, good access to local facilities, and free car parking. These are the essentials that staff finds advantageous in a work place. Likewise customers should be able to access the office premises easily. It might happen that depending on your business, a nearby airport could be a plus point for you and your client. You can even hire a transport service for your client convenience. Therefore, the important thing while choosing your office to rent is that your office must be near the easy transport links like railway station or airport.

Below are given the considerations that must be looked upon while choosing your office to rent:

Expansion- In view of the fact that you will most likely be in the same location for a long time, ensure that you think about the future expansion of your business. When you choose an office you must have decided to stay there for some time. It is very difficult to relocate your office. It will create difficulty for your clients and your staff, as well. Therefore, when you choose the office, you must think about the space. You should be able to accommodate further expansion of your staff and your business in the future.

Renovation- Prior to consigning yourself to a contract, see whether the owner has thought about the renovation of the common places in the office like the hallway, reception, or toilets. Preferably, the owner should be prepared to consign to a legal commitment. You must also see whether you can make some changes in the office space according to your business activities.

The rent price

Obviously, this is the first thing any individual will be looking for while choosing an office to rent. This indicates that the rent price should always go along the budget that you have decided for your office and also it should be covering the facilities accessible in the office. It is always wise to avoid going for a very costly office when there is no requirement to spend extremely. Similarly, going for a lower priced office is also not advisable because, along with your business efficiency, a good presentation and the first impression is also important. You must have good quality amenities and good office infrastructure to run your business successfully.

Local employment market

Getting employment from the surrounding area is very wise. Therefore, you must see that you hire staff who reside nearby. This is particularly significant if the office for rent is situated far from the city or if you are planning to relocate.

Office location

Depending on the kind of business, you will have to choose an office location. The office location is significant for the success of your business. There are kinds of businesses which are more suitable in the center of the city, and likewise, there are businesses which are more suitable on the outskirts of the city. Therefore, the kind of business can determine the location of the office. But if the matters are more complex, then you can decide according to the frequency of the clients, whether to be in the city or outside.

While choosing an office to rent, location and space are the most integral aspects and you cannot compromise with these things. The perfect spacing can give a good interior to your office. This helps to make the office clutter free and the office looks welcoming and spacious.

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Quick tips to find ideal property below market value

More recently people have realized the profits in property buying. Obviously, they are venturing more into property buying when prices are low. You will easily get good property at low prices in areas away from the city. People have now realized the long term stable profits from property investments and therefore, they are ready to invest in property.

Today, the number of house repossessions has increased, which means that the lenders sell the houses at lower prices in order to get their loan amounts. This has created a great opportunity to get a house at lower prices than the actual market price. This has given people a chance to buy great properties at cheaper rates.

Earn a lot from your housing property-

You can renovate your house and rent it at high prices. The more you give them facilities, the more you can charge for them. You need to invest a lot in order to get good profits from it. Today, people need modernized houses with all the amenities. Therefore, you can see great profit from subletting such houses with facilities. So you get immediate returns from the property. You can even get rent which can cover your monthly mortgage payments. This is the right way of making money and your property prices will always increase day by day.

You must always be on the lookout for good prices and good locations, generally, second home buyers, investors, couples with no children and singles, can get huge profits from these opportunities. A single person can buy a two bedroom condominium but can let go if there is not one with a good price difference. There are many locations which are little odd than the city areas. You can find houses with low prices in such places, and couples with no children can go for this purchase if the price is less.

Sense the market timing –

The best tip to find an ideal property below market value is to sense the market timing. The most helpful sign of a property that can be bought at below market price is one that has been listed on the market for a longer-than-usual period of time. Realtors get such information through many services that are always on the lookout for such properties in order to inform their clients. This is a very crucial sign. If the property has been listed for a long time, then the seller will feel like selling at the best price they can get. This offers a chance to get a property at a low price.

If you get information that a seller has relocated to another house or is residing at a rental house waiting for the property to be sold, this is an indication of getting a low price purchase.

The choice of realtor is very crucial.

The buyer must know the intentions while working with a realtor. Generally, the agents do not have much knowledge but the realtors have good information whether the seller has any intention to sell the house at certain prices. The agents have many legal restrictions while carrying out these proceedings but the realtor can give you great profit opportunities.

The best way to go through this tedious procedure of passions is to keep it simple. When the property is being sold at an under priced offer, then the contract must be clear and transparent. There must be a letter from lender for pre approval of the procedure with contract letter which suggests the approval of credit. This gives the security to the seller that the buyer will be providing the loan credentials legally. A transparent contract with a considerable earnest money put down and a quick resolution is much better for being established at a below market price.

All above tips will help you find ideal property below market value. You need to identify the signs clearly and definitely you will get good returns by investing wisely.

© Global Realty & Investment Corp 

Buying residential Real Estate for Renting - Points to Consider

Do you want to buy a rental property? Well, the industry now seems to be on the road to recovery from very low prices; is this a good time to invest in properties? Definitely, the price of the property you buy is indeed very important; however, there are various other factors that you need to consider to ensure that the deal is profitable.

Advantages of Owning Rental Property

Like every other thing, owning real estate property definitely has its pros and cons.  Of course, buying a real estate property is very profitable, as you are investing in a tangible asset that you control. You can earn money with:

Appreciation- It is the increase in value of a property over time.

Income or cash flow results when the rent collected from a tenant is greater than the expenses, including insurance, repairs, property taxes, mortgage payments, and maintenance.

Let us have a look at some points that will help you make a smart decision and invest wisely:
Consideration 1: The amount of rent you can expect: When you are investing money in a property with the aim to rent it out, you have to be assured of a rate of return. This rate should be more than the rate of interest you need to pay for a bank loan. If you are not taking any bank loan, then this rate should be greater than what you get from a rate of interest offered by banks. Some sorts of properties can offer you better returns but you need to invest more for it. Look for a property that will continue to give returns over a long period.
Consideration 2: Expenses: you are planning to invest in a property. As the owner of a residential property, there will be both fixed and variable expenses. Insurance, taxes, etc. are fixed expenses and you will need to pay them annually. It will also include maintenance costs and occasional repairs. Electrical, Plumbing, etc. are your responsibility and not that of the tenants, so you have to pay for it. A well maintained property can easily attract tenants and will give you best returns with the right kind of rent.
Consideration 3: Location of the property: You are going to get the desired returns worth your investments, if you find the right kind of tenants. You have to think from a tenant’s point of view. As potential renters assess the property by its location, nearby amenities, etc., you have to think about all this when you are buying a property for renting out. Examine all relevant factors before investing your hard earned money in real estate property.
Certainly, buying a residential property is a really great way to make money, provided you focus on the strengths and eliminate all risk factors. You can take experts’ advice and assistance before buying a residential property to rent out. Here are some tips that will help you in this regard.  

1. Make sure that your personal finances are in order. Do not buy a rental property unless you have a healthy emergency fund. There are various expenses associated when you buy a home and you should be ready for it.
2. Consult a mortgage lender or broker to find out if you can afford to make an investment.
3. Do thorough research. Ask property managers, real estate agents, or other experts in the area about realistic expectations to charge for rent.
4. Invest in properties at good locations. For targeting good rentals and tenants, seek good quality neighborhoods along with amenities and proximity to public transportation, employers, park, hospitals, schools, etc.
5. Inspect the property you are planning to buy before finalizing your decision. Always utilize professional inspections to determine if any repairs are needed.
6. Understand the rules. There are state and federal laws regarding rental property and one must not violate the rules.

With all above considerations, it will be easy for you to make a smarter decision. Think about every aspect of buying a residential property for renting. Rather than calculating only the financial aspect, take each and every factor in mind.

© Global Realty & Investment Corp 

Tips to sell a home during the holidays

Are you planning to sell a home during the holiday season? Well during the holiday time, from November through January, it is usually thought to be the worst time to sell a home. Though the thought of putting your home on the market during the winter months may hamper your spirit, the winter season does offer some benefits. Often, holiday buyers are more likely to be more serious. This can mean a quicker sale. Further, as only few homes are actively marketed, there is less fierce competition. If you are planning to sell a home during the holidays, then decide if you really need to sell. Here are some tips that will help you in your endeavor-

Decorate it, but never go overboard.

Generally, homes look great during the holidays. However, you should not overdo it on the decorations. A crowded house with too many décor items may distract buyers. If you have a dining room, stage it for a holiday dinner. Rather than religious themes, prefer general fall and winter decorations. Keep your holiday decor ethnically neutral.

Look for a trustworthy real estate agent-

As many estate agents disappear during New Year, Thanksgiving or Christmas, you can look for someone who works hard during the holidays even.  Ask your relatives, friends, family and neighbors if they can suggest a listing agent. Asking for referrals will ease your stress. So you can enjoy the season.

Hunt for motivated buyers-

Consult with your real estate agent about targeting buyers on a deadline. Track investors on tax deadlines, people relocating for jobs in your locality, military personnel, college staff and students, etc.

Be clear about a few, show times and dates-

Help your agent or broker to schedule a showing for your home. In general, agents show multiple properties in a couple of hours. If you do not allow the agent to show the house, then buyers may have another dozen choices that are vacant. You can set a show time, which will make it easy for the agent to schedule the visit. Remember, when you are putting your home for sale, do expect some inconvenience and irritations. You have to compromise with your enjoyment too.

Set a price to sell-

Anyone will be happy to have a home that's priced low for the market. Instead of making small price reductions gradually, it is advised to cut prices prior to putting a home on the market.

Exterior of your home-

It is well known that when a house is put on the market, curb appeal should be a top priority of a  homeowner. During autumn, when the trees start to lose their leaves, it becomes even more important to maintain the exterior of your home. Clean the gutters and touch up the paint. Clean up the yard and try to remove snow, ice and leaves from stairs and walkways.

Take top-notch photographs -

During the holidays, when the weather outside is appalling, homebuyers prefer to begin their house hunt without leaving their homes. They prefer to browse listings on the Internet. You can impress buyers by offering lots of high-quality and flattering photographs of your home.

Attract house hunters by creating a video tour-

During the holidays, you may get less foot traffic. However, you can take advantage of the latest technology to attract visitors. Shoot a video tour and post it on the Web. This will attract house buyers who would not drive during a snowstorm or cannot physically see your home. Home hunters will certainly love the virtual visit to your home.

All the above mentioned tips will help you in your quest to get the best deals easily in the holidays even. Think wisely and act smartly and get ready to enjoy the holidays with a good deal for your property as well.

© Global Realty & Investment Corp 

The basics of effective property management

Are you ready to buy your first ever property investment? Have you thought what are you going to do with the property? Are you going to develop it and sell it for a higher price later? Are you planning to rent your newly acquired home? You have to answer all these questions for managing property effectively. In fact, you have to think about this seriously before pursuing your plans with your real estate.

For a novice, property management is a complicated task. The real estate field demands tons of money. For an average person, it is too expensive to shell out. That is why; if not all, the majority of people prefer home mortgages for acquiring a property. A real estate agent can help you out in securing the needed funding for your property acquisition. As real estate involves lots of paperwork and money, it is essential to make the decision wisely.

The real estate market varies from time to time and for a novice it is difficult to manage these things. At any given time, interest rates may go up or go down. Therefore, if a person has little knowledge of the real estate industry, then it may be very difficult for her or him, to decide what is best for investment. Having the services of an agent or real estate broker can help a person in making decisions, including the best property to acquire or the best price to sell a property, etc.

If you are interested in renting out your property, then you have to find out current rates in your locality. Asking for too high a rental may deprive you of probable tenants, whereas too cheap a rental may take away your profits. In this way, property management also covers setting the right price of your property. You have to price your property in such a way that it will not hamper competitiveness and your balance sheet too.

The majority of people interested in real estate investment concentrate on making money only. However, it is essential to focus on the long-term benefits of the investment. Besides considering the viability of the investment, you need to have a vision for the property. If you want to enjoy the benefits of real estate investment, then proper planning is the most essential aspect. Remember, property management is a complicated field with manifold facets. It needs sound financial management with a good grasp of the real estate market. If you are new to this field, then do invest some time and effort to understand how this business works.

Property is a good investment as it is a scarce basic need. Many people prefer to stay closer to their workplace or to their children's schools. Not all can buy a house instantly. The numerous benefits of housing have made properties a basic need that man cannot do without. Therefore, as compared to any other investment options, investment in a property offers inherent investment benefits. Though there are multiple benefits of investing in a property, it is essential to keep in mind that property investment is very volatile too. That is why sound management is an inevitable aspect. No tenant wishes to lose a comfortable and good property within his or her budget. One can take advantage of this with effective management. It is advised to maintain the property in a tenant-worthy condition. Further, a property owner should carry out an audit of the property regularly according to the provision of the lease agreement. This will avoid the chances of a property being abused by the occupiers.

Remember, with or without the financial crunch, property remains an investment of choice. You need to wisely plan your strategy for industrial activities. Besides adding to your status, property will surely live up to its financial responsibilities with proper property management.

© Global Realty & Investment Corp 

Points to consider while hiring a moving company

Are you planning to relocate? Well, relocating can be quite the experience. There are some terrible stories and some smooth moves as well. If you want to avoid a terrible experience during your next move, then it can be a smart decision to hire a moving company. Nowadays, numerous moving companies offer packing and moving services at reasonable rates. However, not all companies are as good as they claim.  It is essential to look for a reliable and experienced moving company to help you through the process. 

Here are some points to consider while hiring a moving company-

Get referrals- Ask your neighbors, friends, local real estate agents and coworkers, if they know reliable companies. Search in the phone book for packing and moving companies having offices in your locality. Do not rely on any estimate, which comes from someone who is not known in your closets. Never presume that well known companies are always best. Sometimes, a novice can provide the best services within your budget. If you are using the internet to find moving companies, check the reliability of such companies. Avoid household-goods brokerage services, which find a moving company for you. Such companies are not regulated by the laws that should be followed by movers. Remember, a company that offers the best services in a state may not work well for relocating globally. So, look for companies that provide services specific to your needs.

Do an initial screening- Once you are ready with a list of recommended movers, it is time to check backgrounds. You can get help on the internet. Online reviews, articles can help you in this regards.  Visit the website or call the given numbers. Check if a moving company is a member of the association in your state. This will ensure that the company follows the rules and published tariffs of the organization. You should have at least 3-4 companies to call for an in-home estimate. Keep in mind that the estimates for interstate moves will depend on the distance of the move and the weight of the goods you intend to move. Rules about the estimate may vary for moves within the same state.

Estimates-

If you want to relocate out of state, you should ask for a binding not-to-exceed estimate. This assures your estimate to be the same, whereas with a nonbinding estimate, the final cost will probably go beyond the estimate. Show the moving company everything you want moved. This is essential because, if you overlook any items during the estimation phase, then the estimator can challenge the estimated amount. Try to collect all the details about the company. Make sure that the company will be doing the moving and not a contractor. It is better to have a company which has been in this business for 10 years or more.

Review the estimate. Try to understand all the details. You want a professional and honest moving company. So do invest time and effort in research. Compare all bids. Look for a reasonable bid. In a case where you have more than one reasonable bid, bargain the best rate possible. Verify that the moving company is legally licensed.

Before hiring a moving company, ask about insurance. Ask the moving company what responsibility they carry for the security of your belongings. A moving company worth hiring will answer all of your questions accurately.  Be careful about moving scams. Look for trustworthy movers.

All the above mentioned points need to be considered if you want to move without stress. You need to organize your move for making it easier. Think wisely and enjoy a new, fresh beginning ahead of you.

© Global Realty & Investment Corp 

Tips for negotiating with a contractor

Are you planning for home improvements? If you are worried that this project can leave a dent in your savings account, then it is time to act smart and reduce the cost without compromising the quality of your project. You have to negotiate the contract terms and price. Here are some tips that will help you cut the price in this endeavor.

• Set the budget-you should have some reference point to negotiate with your contractor. So, you should first set your budget for the home improvement project. List out all the details. Write down the tasks you expect a contractor to handle. Make sure that the contractor you choose has all of the listed elements included in the timeline and pricing of the project. Decide if you want to handle any part of the renovation on your own and consult with the contractor about it.
• Research- It is essential to invest your time in research. You should have something to compare it to. It is suggested to have at least 3 comparable estimates or bids for a project. Remember, some contractors are willing to negotiate some contract terms or cut their price to get a job. But it is essential to make sure that quality is not compromised. Provide all possible details to each contractor and read each estimate carefully. This will be helpful in comparisons.

• Look for a reliable contractor- Always check a contractor's credentials and experience before making any hiring decision. You can secure a lower cost by working with a less experienced but a reliable contractor with less time in the trade. Choosing a reliable contractor is surely an essential step to get the better costs of home improvement projects. You can look for reviews on home improvement contractors online. It is a challenge for contractors to lend their expertise to your home improvement project. They also want to get the money, worth their efforts and time. Many offer correct estimates but it is not needed to accept the contractor's terms as it is. You can ask for changes. You can protect your interest and wallet by negotiating the agreement with contractors prior to hiring them. Cost is not the only aspect of negotiation. You can consider the materials used as well as the timeline of the project.

Do invest your time and efforts to find out the costs of materials that will be used on the project. This will help you in bargaining. Further, you can check out that the contractor is charging correctly for the supplies of the project.

• Buy your own supplies- Many contractors offer to buy the supplies required for the project and cover their cost in the estimate. In general, this contractor purchases all the supplies from one supplier. In other words, that contractor probably is not shopping around for the best price. You can cut the cost by purchasing the supplies on your own. You should check the required quantities with your contractor twice. Make sure to get enough material to complete the work. This will avoid project delays.
• Consider the timing-Generally; the cost of your home improvement project may vary with the season in which the project is executed. So, you can lower costs by looking for estimates during the slack season when construction work is usually slower. During this time, contractors will be more willing to cut the price.
• Treat the contractor as a friend- Instead of reflecting negatively; try to treat the contractor, as a friend. Creating a healthy relationship will definitely help you in lowering costs for your home improvement project. Show your contractor that you respect their knowledge and experience. Be polite and discuss the changes you could make to the project to lower the cost.

Keep in mind that cheaper is not always better. Consider all the aspects including timeline, materials, quality, etc. while negotiating with the contractor.  This will surely help you in getting the best deals for your home project.

© Global Realty & Investment Corp 

Effective ways to determine value of your home

So, you want to sell your home. Knowing the value can be an important factor while pricing your house when you put it on the market. The value of a house changes with numerous factors including the neighborhood around it, local house marketing, age and remodeling etc. You need to figure out what your home is worth properly because, if your home is overpriced for your area, buyers will shy away from it, whereas an underpriced home will puzzle the buyers. Further, you have to compromise with your profit too. If you want to get the best deal for your home, then you have to price and present your home properly.

The market eventually determines the true value of your property. Here are some points to consider before comparing your home to similar properties and setting up a competitive list price-

·         Size

·         Location

·         Community amenities

·         Condition

·         Financing Options

·         Buyer supply

Pricing your home correctly means:

ü  Higher exposure to more potential buyers

ü  Your home does not lose its ‘marketability’

ü  Higher probability of quick deals

ü  More competing offers for the price closer to market value

Market analysis - You should get to know about the market to find out the current trends and what today’s buyers are ready to pay for a home. In this analysis, you need to evaluate the market activity of homes similar to yours in your area. The homes sold or listed for sale currently represent the value sellers hope to gain. Typically, the listings that have expired are of either poorly marketed or overpriced homes. You can hire an agent who will prepare a competitive market analysis for your home on the basis of the most current market information. You can thus set up the proper list price for your home.

MARKET PLAN-

For many of us, a home is the largest asset. It is not something we put on sale daily. As a property is slightly complex to market, you need to be well organized. You need a marketing plan to organize the process. Depending on your needs, your agent will prepare a personalized plan for you. It will contain all activities proposed to market your home including online promotion, mailings to probable buyers in your area, MLS services, etc.

·         Pay for an appraisal- The simplest way to find out your home's value is to pay for an appraisal, and set a price of your home close to this price. You can get a by-unit comparison appraisal to similar property in your neighborhood. It will cost you money. However, you can have in writing a professional appraisal on your home that can be displayed to potential buyers. This can be an added advantage. Look for a certified appraiser who can provide an appraisal establishing the number of construction quality, rooms, square footage and size, etc. After reviewing the recent comparable sales; the appraiser will determine the estimated value of the home.

·         Real estate agents- You can consult 3-4 real estate agents in your area. While interviewing a realtor, talk to an agent directly. Tell him clearly if you are planning to sell your home yourself. Remember, an agent's services are free to the buyer.

·         Use the Internet- With technological advancement, you can now avail a wealth of information quickly. You can now use it for calculating your home’s market value. While using this method, make reasonable comparisons to avoid wrong estimates.

·         Understand the changes and evaluate the Housing Market-You can observe pricing trends to determine the market value of your home. Remember, the housing market will not always give the most precise impression. So, you need to gather the details and evaluate the housing market to determine the price.

You can employ one or a multiple of the above mentioned methods to formulate a reasonably accurate price range for your home. This will help you determine the value of your home.

© Global Realty & Investment Corp 

Top questions to ask while hiring a property Management company

Do you want to get the best out of your real estate investments? Are you planning to hire a property management company? Well, hiring a great property management service is one of the most important tasks you will undertake to manage your properties without any stress.

Nowadays, many companies offering property management services are out there in the market. However, it is a crucial decision and you should not hurry in making this decision. When it comes to hiring any kind of services, cost is the prime factor considered. In general, a property management company charges a monthly fee to manage your property. The fees may vary depending on various factors. It can range from 5%- 20%. Remember, cheaper does not always mean of lower quality. You can find companies that offer more services for reasonable rates. Search for the one that suits your needs and fits in your budget.

Here are some questions that will help you narrow down your search and end up with a well-informed decision.

Questions to ask while hiring Property Management services

• How many years of experience does the property management company have? Ask the company to provide 3-5 references of real estate investors that have been using their services at least twelve months and are happy with the service.

• Ask the company, where and how they market available properties? You can inquire how effective the company is at filling vacancies. A property management company having an effective marketing campaign will definitely help you achieve your goals.

• Ask the company about the methods they use to qualify tenants? What type of background checks do they do? It is advised to have a property management company that can provide records of satisfied customers.

• Inquire how the company handles cases of delays in, or failure to pay, rent? It is better to skip the property management company which is “flexible” with tenants about rent payments. Look for a property management company that is courteous and fair. However, it should enforce your rental contract with your tenants. After all, getting timely payments is an important aspect for you.

• Ask how many other properties the company manages? How many resources the company has? If the company has a limited staff and a large number of properties, then the company may not be able to pay attention and manage your property. You should look for a committed company that offers good services efficiently.

·         Inquire with the company about the management fees they charge.

1.      Showings

2.      Advertising

3.      Signage

4.      Management Fee

5.      Leasing Fee

6.      Renewal-Leasing Fee

7.      Typical Move-out/Move-in expenses

8.      Repair/Maintenance

9.      Inspections (extra or included)

10.  Evictions

You have to consider various aspects while calculating the fees. However, it should be within your budget.            

• Does the company charge a lease commission separately? In general, the majority of companies charge a percentage of the monthly rent as the commission for lease renewals and new leases.

• Ask the company if they charge a vacancy fee? Many property management companies charge a vacancy fee for marketing and advertising endeavors.

• Inquire who will handle yard maintenance and repairs. If the company handles it, ask with whom do they work and how are they rewarded? Do they charge by the time or job? Many experts suggest paying by the job.

• Ask the company if they have their own rentals too? You can gain knowledge about the industry by learning how a company manages properties. Communication is the most essential aspect to consider while hiring a property management company. The company should be responsive to both email and telephone. Getting a response back in a timely manner is a very good sign of a proficient and dedicated company.

For some companies, property management has become a business about markups and hidden fees. All the above questions will help you find a good resource to manage your property well.

© Global Realty & Investment Corp 

Tips for commercial real estate investment

Do you want to add value to your assets? Investing in commercial real estate can be a great source of income. A well positioned commercial real estate property can increase dramatically in price later, giving you the best returns. Leased or rented commercial real estate can be a source of steady cash flow.

Most real estate investors start with single-family houses. This is the most well known option of investing in real estate. When it comes to investments in commercial real estate, it is essential to have plenty of patience and the right perspective. For getting success in commercial real estate investments, you need the willingness to invest efforts and time up front in researching. You should identify the correct type of investment.

Here are some useful tips that will help you invest wisely in Commercial Real Estate

• Use Personal experience and Knowledge- Your personal knowledge and experience is the key asset in this endeavor. As an investor, you should look for property in your neighborhood or other localities you know very well. Here, you need to use your knowledge to find out what and where to buy.

• Research well- When it comes to investments, people always prefer the default to familiar products. Undoubtedly, there is nothing wrong with this strategy. Nevertheless, you need to research well and find out the current market trends. As numerous investment options are available, you need to think of a better fit for your needs, budget and goals. Explore all possible options and opportunities in other arenas as well.
  
  
• Have patience- Think wisely. Never buy commercial real estate too quickly, just because you have the money.  You need to be patient. Consider all aspects before buying a property. Invest in a property, only when you are comfortable with the price and real estate.

• Build a Real Estate Network – A real estate network is the most integral part for every investor. If you have a trusted business associate or friend in the legal, contracting, real estate or banking professions, then this will help you make good decisions and find deals. With a well developed real estate network, you can manage the investments effectively.

• Set Goals (Short Term and Long Term) - As a commercial real estate investor, you should be able to envision both the immediate impact of an investment along with the long term prospects. Numerous run down commercial properties are on the market. You have to think of various aspects that might greatly impact the value of a property in the coming years.

• Diversify- Like with any investment, if you need to put all of your money into commercial real estate, then it involves a big risk. Definitely, you can get a better cash flow by renting out the properties. You can spread your money around into various kinds of commercial real estate like office buildings, apartment buildings, raw land, retail space, etc.
• Learn the formulas – Never get cowed or discouraged. Sometimes, it may take longer to conclude a commercial deal. Because of the diversity inherent in commercial real estate, it can take longer than expected. With practice, you can complete transactions faster. It is also essential to keep in mind that the investment value of commercial properties is calculated differently. You should learn the specific formulas used. This will help you determine the correct offer to make. 

• What to look for: It is true that there is huge availability of more reasonably priced options. However, keep in mind that investing in commercial real estate is not child’s play. It needs correct planning, research and foresight.

You should consider the following important points-

ü  The vacancy factor

ü  Renovation, refinancing and repositioning potential

ü  The break-up of cash flows

ü  Long term capital appreciation potential

ü  Expenses including building insurance, maintenance and property tax

ü  Lease terms, expiry dates and lock-in period

You need to establish the soundness of the spot along with its supply-demand dynamics. You should also ensure that the population growth, economy and job market are healthy. You should also verify the potential for infrastructure development, developer credentials, quality of property management and access to public transport before investing in the project.

© Global Realty & Investment Corp