Istanbul Property For Sale

Istanbul is located in the Europe and Asia continent, frequently referred as Eurasia. Between two continents, Istanbul is considered as a cultural and commercial bridge. The Bosphorus not only separates the two continents, but also bonds the Black Sea to the Sea of ​​Marmara. Beyond the political and commercial importance, the Bosphorus reflects its beauty…

Istanbul is located in the Europe and Asia continent, frequently referred as Eurasia. Between two continents, Istanbul is considered as a cultural and commercial bridge. The Bosphorus not only separates the two continents, but also bonds the Black Sea to the Sea of ​​Marmara. Beyond the political and commercial importance, the Bosphorus reflects its beauty to Istanbul.

The Bosphorus plays a crucial role on public transportation in Istanbul. Europe and Asia are connected with two suspension bridges: Bosphorus Bridge and Fatih Sultan Mehmet (Bosphorus II) Bridge. This is the shortest route from European countries to Asian countries and both in commercial and public transportation the importance is obvious.

The Bosphorus has a strong influence on people and culture that may be seen on poems, novels and songs. Kéraban the Inflexible by Jules Verne and Eylül by Mehmet Rauf are just two examples of novels that are inspired from Istanbul and the Bosphorus.

Beyond appealing to visual pleasure and giving inspiration to people, the Bosphorus hosts an international athletics event: The Istanbul Marathon. It is the only marathon that takes place at two continents. It has four categories: 42 km, 15 km, 10 km and 8 km fun walk. All of them starts at Asian side of the Bosphorus Bridge and ends at different areas of European side.

The Bosphorus is a reflection of Istanbul. It is a mixture of old times and modern times. While taking a walk, you witness history. Consider the Istanbul property options and let Istanbul and the beautiful Bosphorus inspire you.

Also the bridges are covered by color-changing LED armatures. At nights the view of the Bosphorus is inexpressibly beautiful. Every year on the Republic Day of Turkey, it is celebrated with light performances and fireworks shows at the Bosphorus Bridge.

There are two important projects in Istanbul that will multiply its value: The Third Boshporus Bridge and Third airport. The Third Bridge is named after an Ottoman Sultan, Yavuz Sultan Selim. It is located north of the two existing bridges on the Bosphorus and when finished it will be the 8th longest suspension bridge in the world. The construction is expected to finish at the end of 2015. Third airport will be connected to Third Bosphorus Bridge which will be a part of, now under construction, Northern Marmara Motorway. And it is planned to be the largest airport in the world. 150 million passengers annually are expected when finished completely in 2018.

Considerations To Make When Looking At A New Property

New property developments come up every now and then. If you are an interested buyer or investor then you know how important it is to be aware of what the latest in the market is. New property launches give you a chance to get a space, whether you are looking for a good commercial space…

New property developments come up every now and then. If you are an interested buyer or investor then you know how important it is to be aware of what the latest in the market is. New property launches give you a chance to get a space, whether you are looking for a good commercial space or residential space to give you a home solution. Modern properties are done with the highest technology and you really do not have to worry about the structural strength of the strength especially when the developer is a trusted household name. However, there are still a few things that you should remember to look into before making a decision to buy the property.

The property area

It is perhaps one of the most important considerations you need to make when looking at the new development. Ask yourself if you will be near rowdy bars or pubs of shops, whether it is possible to find important facilities near the building for your convenience and how the transport network is in the area so you can have an easier time moving from one point to the next when you are not driving your car. Also important to consider is whether the property is near noisy roads, train tracks or underneath a flight path. If you have children and you are looking for a residential property, remember to check the schools that are in the property's surrounding area so you know that the educational needs of your children are well taken care of.

The property area should simply offer you the kind of living or working condition you find most appropriate. Look at every important factor around you so you do not end up buying a property that ends up being frustrating in terms of the surroundings.

The property size and safety

The number of units can not be ignored whether you are looking for a commercial or residential property. In this same line, look at the number of storey that the development has and the size of the units. The essence is to make sure that you find a level you are comfortable with and will be comfortable accessing every single day and a unit size that matches with the specific size needs you have. When looking at a building that has a number of stores, find out wherever there are important amenities such as quality elevators or you would need to take the stairs every single day to your unit.

Also important to check depending on the size of the building is the exit design from the building especially in case of emergencies. Can you get out of the building fast when you are located at the top most level of the building? What emergency systems are in place to help when the unexpected occur? This is something that most people do not remember to check when looking at new property launches, but one that is of great importance. Look at all safety and security measures put in place within the building before going ahead with the purchase.

Things You Must Consider When Choosing A Commercial Or Residential Property

Modern property developments are elegant and quite sophisticated that they can help create that professional image around your business or take your lifestyle to a whole new level thanks to technology. The properties now come with everything that is bound to make every day living and working easier for all which is why you can…

Modern property developments are elegant and quite sophisticated that they can help create that professional image around your business or take your lifestyle to a whole new level thanks to technology. The properties now come with everything that is bound to make every day living and working easier for all which is why you can now find plug and play offices that are ready for occupation and running for businesses and homes that are fully furnished so you can just continue with life comfortably. However, the property options can be numerous and making factoring in a few property aspects is important when making a decision.

The Importance Of Keeping Up With The Latest Property Developments

Property development projects are ever coming up and if you are a serious business person looking for a good commercial space to set up your business, you need to be up to date with the latest projects within your areas of interest. The same goes for homeowners looking for modern apartments and rental homes to…

Property development projects are ever coming up and if you are a serious business person looking for a good commercial space to set up your business, you need to be up to date with the latest projects within your areas of interest. The same goes for homeowners looking for modern apartments and rental homes to match their lifestyle preferences. The fact is that if you are not updated on the projects taking place in your locality or areas of interest, you might pass out on great opportunities to make a transformation for your business of family. Here are some of the benefits you will enjoy by keeping up with property projects.

Floor plans

One of the best things that you will love knowing about a property that is coming up is the floor plans available. This way, you can select a spot that you love most depending on how suitable you find the floor plan to be. Most developers will also give you a chance to have the floor plan designed to meet your individual preferences either for commercial or residential needs. This means that by the end of the project, you will have a spot that is made just for you and serve all your needs. Today property developments are sophisticated technologies and you can expect to have impossible aesthetic greetings that would fit your standards.

Facilities

When you are updated about the projects, you get to know beforehand what facilities will be within the property, since you can make a decision as to whether it is the right property for your business or residence. Most people love properties that are self-contained, meaning that they offer the possibilities of getting everything they need without having to leave the property at all. Modern properties come with business centers, restaurants, art galleries, party places, gyms, spas and playgrounds along others depending on whether they are commercial or residential properties. When you learn about facilities included, you can determine how suitable the property is to the expectations you have and convenience that you expect.

Location

Of course, knowing the location of the property beforehand can go a long way in helping you weigh suitability in relation to what kind of space you are looking for. People have varying preferences on location and your type of business could have been better in given locations and not others and so is your home. At least when you are up to date with the latest projects, you have sufficient time to look at the present location implications as well as the future implications of the same, especially if you intend to be on the property over a long period of time. You therefore have a clear mind when reserving your space as the project begins to take shape so you can start with your business as soon as the development is complete. The property location can mean a lot to your business or your home and making serous considerations is there of importance.

Inspect, Negotiate, and Conclude

Do not you feel that you should have a knowledge about the property you are willing to buy? Have you ever found it necessary to compare and negotiate and search for the best available alternative? Do not you want a good property at the best possible deal? A healthy, safe and a sound working environment…

Do not you feel that you should have a knowledge about the property you are willing to buy?

Have you ever found it necessary to compare and negotiate and search for the best available alternative?

Do not you want a good property at the best possible deal?

A healthy, safe and a sound working environment determinates a lot about a firm. A person makes huge investments he purchases a property. Here, it is very important for him to know each and every thing about it. A property that a buyer is willing to purchase should completely inspect and negotiate the property to avoid fraud. In this case, Property inspection services will help you to resolve the property related problems.

And, are you having problems supervising your rented property?

Are you willing to find out what is happening at your property which you have rented it out to someone?

When a property owner is willing to rent his property out to someone, he should regularly supervise and inspect the activities occurring at his property. A regular supervision will keep the borrower under control and it will avoid speculations. Rental property inspection will guide a lender easily with inspecting and supervising the ongoing activities in his property.

Why are property inspection services important?

• A buyer should be well informed with the problems and defects of the property.
• Property inspection services help him to reduce his long-run costs.
• These services will enable him to right to information.
• A Buyer will be able to negotiate different properties better.
• With correct guidance a buyer's decision regarding the purchase will improve.

Similarly, Rental Property Inspection plays a major role in a lender's life.

• A lighter becomes stress free.
• He can regularly supervise his properties.
• A lender is able to get better deal of borrowers.
• Unethical borrowers can be easily removed and better ones can be looked out for.

It is necessary to spread more awareness among the people so that they are not cheated or they do not get involved in any sort of property related fraud.

With the help of property inspection services , a buyer will obtain adequate information about a new property in demand.

Inspection services carry out thorough investigations to provide relevant information to the clients and guide them with property selections. The inspectors consistently negotiate and evaluate the awards so as to keep the customers well informed and well updated.

Rental property inspection determines soundness of a tenant's use of the borrowed property. Misuse and ill-use of the property can be administrated and the lender shall be reported immediately. Rental property inspections serve as an evidence in case an immoral activity is reported.

How do property inspection services function?

• A buyer will come across home contingencies.
• Once, the property is under contract, a property inspector will be hired.
• He has to supervise the place.
• He needs to be present physically
• He submits his regular report to his client.
• The report should be submitted within 48 hours of inspections.
• Rectifications can be made.

A lender, sometimes, gets too busy with his schedule and does not get enough time to assess his property regularly, in such cases, rental property inspections are held out. Such inspections help to avoid unnecessary problems. Rental property inspection is very helpful to an NRI because it helps him to preserve his property.

How does the process of rental property inspection work?

• A lender lends his house to a borrower
• He needs to put a check on what is going behind his back.
• Here, he appoints an Inspector.
• The inspector goes on regular visits to the concerned property.
• He charges his fees according to the amount of visits he goes for.
• A regular feedback and report must be submitted to the client.

Inspection services and Rental Inspections might be a little expensive and time consuming but it is worth the expense and that time. A customer's cost of risk and fraud will reduce. The demand for the provision of such services and inspections is increasing every day. It is very essential for anyone who wants to make purchases at a good deal to rely on property inspection services. And for those who want to supervise and regulate the control on their rented property, rental service inspection is what is exactly what should be carried out.

Why Is Your Property Safe When You Contact Letting Agents?

It does not matter how the current housing market is, when we plan to invest on property. This is because investing on property is one of the most stable ways to gain a good profit. If you need to get good profit out of the investment made, it is very essential to maintain the property…

It does not matter how the current housing market is, when we plan to invest on property. This is because investing on property is one of the most stable ways to gain a good profit. If you need to get good profit out of the investment made, it is very essential to maintain the property the right manner. If you need to rent your property to someone, and if he is responsible for the taking care of the property, then the risks of maintaining it will be less. Since at times it is not possible, the wisest move would be to contact the leading in your neighborhood for taking care of your property and to give you better returns. Such agents will help you a lot when you are living not so close to your property and if you are not able to take good care of it on a regular basis.

Why to contact a property management company

When you contact a property management company, you will be assured of getting the right service that will take care of your property in a much more responsible manner. If you are planning to shift to another state or region, and if you need someone to take care of your property and rent it to the proper tenants, checking the maintenance work and other related things, then you can definitely completely on such property management companies .

What does a letting agency do?

A letting agency makes sure that your property gets the right tenants of your choice. They will give advertisements in the local newspapers or other media and then contact the people who are interested to rent your property. You will be informed about the ones who are interested to rent your property so that you will be able to make a good decision regarding choosing the right tenant. All the paper work related to the renting procedure is handled by the property management company without any failure.

Internal audit to ensure that no damage is caused to the property

An internal audit is conducted as soon as the house is about to be rented. This audit is conducted as soon as the tenant moves from the property so as to ensure that the property is maintained and that no damage is caused to it. Thus this will give complete relief for the land owner who need not take complete responsibility of the property as a whole. Regular maintenance work will also be taken care of by the property management company. Tenants too will be getting a lot of benefit if the property is taken care of by a property management company.

Who will get maximum benefit?

The management company will also make sure that the monthly rent will reach your account without any failure. In short, the complete responsibility of the property will become their, as soon as you decide to come in terms with a management company for renting out your property. People who are living far away from their property and people who own multiple properties will find a lot of benefit when they contact a property management company.

The Most Vital Things That You Should Know About Property Registration

Registration of a property is one of the most primary and important process that both the seller and buyer needs to come upon. But this process is intricate and requires some decent prior knowledge before getting indulged.

Registration of a property is one of the most primary and important process that both the seller and buyer needs to come upon. But this process is intricate and requires some decent prior knowledge before getting indulged.

Valuation of Property and the Benefits It Provides

Valuating the property is a mandatory process when it comes to selling or buying one. Hiring a professional valuation service can help you get the perfect service that will let you know the market rate of the property. Hiring a leading valuation service will offer you free property valuation with additional services.

Valuating the property is a mandatory process when it comes to selling or buying one. Hiring a professional valuation service can help you get the perfect service that will let you know the market rate of the property. Hiring a leading valuation service will offer you free property valuation with additional services.

Ten Questions to Ask the Homeowners Association

Buying a high-rise condo or loft can be the entryway to a new and exciting lifestyle. However, one of the most common problems of condominium living is a dispute with the homeowners association, and unexpected increases in fees that can occur. You should look into a number of issues before making the decision to purchase…

Buying a high-rise condo or loft can be the entryway to a new and exciting lifestyle. However, one of the most common problems of condominium living is a dispute with the homeowners association, and unexpected increases in fees that can occur. You should look into a number of issues before making the decision to purchase your condominium. Here is a list of questions you should ask to determine how well the association is being run and how your expenses will be affected as a resident:

1 – What are the covenants, bylaws and restrictions of the association?

The condominium homeowners association should provide you with a current book of rules. Read these over carefully to ensure that you understand the restrictions on renting the unit, number of residents and other issues that could come into dispute. Ask the association if any changes in the rules are pending that could affect you.

2 – What percentage of the units is owner-occupied, and what percentage is tenant-occupied? The number of units that are occupied by owners, instead of being rented out, can have a significant effect on the marketability of your unit, when and if you wish to resell it.

3 – How much money does the association keep in reserve?

Associations that keep a sizeable “cushion” for unexpected expenses will not need to imposes “special assessments” frequently. This foresight will help to keep your expenses lower.

4. What does the association assessment cover, and what is not covered?

Find out exactly what the period assessments cover. Most assessments cover such services as trash collection, snow removal, pool maintenance and upkeep of public areas. However, some condominiums may cover additional services in their fees.

5. Are the association assessments keeping pace with inflation?

Periodic fees can rise significantly in condominium associations that have not determined a reasonable budgeting process for the property. Ask how frequently fees have been raised and whether increases are expected in the near future.

6. Over the past five years, have special assessments been mandated, and how much did each owner pay? – Frequent special assessments are a sign that the association is not planning realistically for possible expenses, and could be a sign that you could be liable for additional payments in the near future.

7 – What is the rate of turnover in the building?

If the building changes tenants more frequently than every 4 to 5 years, it could mean that there are problems that make it unsuitable to live there.

8. Is there any litigation pending concerning the building or association?

Legal problems could mean additional assessments for residents in the future. Find out if any litigation is pending and the nature of the problem.

9 – Does the developer have a good reputation in the industry?

Some condominiums have been converted from other types of property. Find out if the developer has a good reputation for quality construction and reliability.

10 – Is the property handled by multiple associations?

Larger properties may be covered by multiple homeowners associations. This situation can lead to multiple assessments for various expenses.

Management Company or Not?

Since the dawn of condominiums and home owner associations (including cooperatives and time share resorts) the main issue has always been; what is the advantage of employing an in-house property manager vs: employing a management company. This question is the first statement out of any board members mouth. In reality there is no clear answer,…

Since the dawn of condominiums and home owner associations (including cooperatives and time share resorts) the main issue has always been; what is the advantage of employing an in-house property manager vs: employing a management company. This question is the first statement out of any board members mouth. In reality there is no clear answer, the main issue is, how easy does the board want to live their life and at the same time run the community for which they were elected to serve. Having an in house manager has its advantages as the board is in total control 24/7. However, (in most cases) behind the manager there should be back up staff of some type, administrative assistant, bookkeeper, receptionist, then there is administration duties, purchasing, invoice verification, check writing, contract negotations, maintenance and janitorial duties, staffing problems and the main item is dealing with resident owners complaints and maintenance issues. These are just a few of the various issues that a manager deals with on a day to day basis.

On top of this, the manager has to have continuing updates on Laws as they refer to condominiums and HOAs so that their license may be maintained as per the laws of the State (Florida). This is done by many communities and private managers on a continuing basis. On the other hand, a management company has the same responsibilities, but is staffed, usually, by department, ie administrative, financial, legal, insurance, maintenance, janitorial and more. The ability to handle all aspects of management is the main function of the management company, such as having the ability to replace managers as may be needed either because of health, vacation, or other reasons, staffing requirements become the responsibility of the management company, thus relieving the day to day situations that a board might face. The final issue is “the bottom line” (cost) is there savings one way or the other? Probably not, but a management company has an umbrella of insurance to cover all possible issues such as workers compensation, health insurance, 401Ks, unemployment costs and many more expenses. So the question continues; in-house management or management company? Although both options have their advantages and disadvantages, there really is no set answer, the final decision comes down to what an association board of directors wants to accomplish in order to make their job easier and to have the most efficient way to operate their community with the wellbeing of the residents being kept in mind. Basically it boils down to a comfort factor … are you comfortable with your own manager and is there a great relationship and a trust factor, or would you be more comfortable with a company who will build a strong relationship and trust between the community and the management company. This is a choice that directors are making on a continuing basis, there is just no clear cut answer.

Attract New Tenants to Your Apartments, Condos, or Townhomes With New Services!

Most apartment, condo, and town-home management companies will use the same schemes to attract new tenants to their complexes. These schemes include aesthetic improvements, upgrades or repairs to their appliances, and / or replacing or upgrading doors and windows, but what else can you do to attract new desirable tenants to your property? If you're…

Most apartment, condo, and town-home management companies will use the same schemes to attract new tenants to their complexes. These schemes include aesthetic improvements, upgrades or repairs to their appliances, and / or replacing or upgrading doors and windows, but what else can you do to attract new desirable tenants to your property? If you're already out of space to add new amenities, then it's time to think about adding third-party services. This process is used frequently by business owners for their law firms, accounting firms, printing businesses, etc. Why should not you? After all, you're a for-profit-business, right?

Some new features and services may include:

Dry Cleaning Services

There are plenty of local Dry Cleaners in your area who would be open to the idea of ​​offering special pricing along with pick-up services, which you can markup for additional revenue. If you move forward with this service it is suggested to post drop-off and pick-up time frames. This will help prevent people from coming to your unit / office all day for their dry cleaning.

Personal Fitness Training

If your apartment, condo, or town-home complex has a recreation room, it is most likely not in use during the week. Why not take advantage of the space provided by the recreation room and contract with a Personal Fitness Trainer? The personal trainer can offer his / her services as a premium service for those busy tenants who would love to train in the comforts of their home complex. NOTE: This would really go over well for your home based business clients who are stuck in their units all day.

House Cleaning Services

If your apartment, condo, or town-home complex caters to young professionals and young families this service may be the best fit for your tenants. Young professionals and young families are significantly more busy than the average tenant and by offering this service, your tenants can spend more time enjoying the other amenities that your complex offers, such as the swimming pool, sauna, basketball courts, tennis courts, etc. , all while their unit is being cleaned.

Virtual Assistant / Concierge

Google's definition of concierge states that, “The Concierge serves Guests (Tenants) of an apartment building, hotel, or office building with duties similar to those of a receptionist.” If this duty is similar to a receptionist why not offer Concierge / Virtual Assistant Services? This person does not have to be physically present in person. In fact, most Virtual Assistance are not physically present ergo the Virtual in the name.

The Virtual Assistant Industry became popular in the last 5-7 years. According to Wikipedia, “a Virtual Assistant is generally self-employed and provides Professional Administrative, Technical, or Creative Social assistance to clients (in this case, tenants) remotely from a home office.” Because Virtual Assistants are independent contractors rather than employees, managers / owners / tenants are not liable for any employee-related taxes, insurance, or benefits, except in the context that those indirect expenses are included in the Virtual Assistance fees.

Auto Detailing and Car Wash Services

If you have not already observed this service being offered in the commercial business arena, you will. Why do you think more and more commercial buildings offer this service for their tenants? There is two reasons why this service is beneficial. The first is to keep their tenants happy and the second is, of course, revenue. Why not use this service in the residential realm as well? This industry has also gotten more popular in the past few years due to its convenience. Now tenants will not have to get into their car, drive to the car wash, and wait in line just to get out of the car and wait in a waiting area / room for about 30-45 minutes (if you're lucky) , then after all this time waiting you get into your car and still have to drive back home. We've heard “time is a precious commodity” but what about convenience? This also makes sense as an added feature / service, so long as you have the space for it.

ATM Machine

Lastly, is the service of an ATM Machine. This service speaks for itself. If you own a large apartment, condo, or town-home complex with more than 250 units, this service may be an easy revenue builder. This industry makes their money on foot traffic (in this case tenant traffic). Have you ever been in a rush to get somewhere and because you had to drive to the Bank to get money, you knew you would be late? With this convenience your tenants will enjoy having an ATM machine on the promises. The ATM Industry has different types of revenue programs to choose from, such as “Free Placement Programs”, “Partnership Program” etc., all of which offer revenue share, depending on the type of involvement you're willing to put in.

By adding any one of these features / services to your apartment, condo, or town-home complex, you will add the chance of attracting new tenants or stealing away nearby tenants. Adding revenue is obviously another significant bonus.

NOTE: If you are considering adding any of these types of third-party services, you're going to want to consult with a lawyer in regards to liability if any.

All About Rent-To-Own

If you are currently thinking about purchasing a new home you may have already run across the term “rent-to-own”. In fact, many buyers are trying the process out as a new way to enter into home ownership, so it is only natural to be curious about the option. Any real estate professional will be able…

If you are currently thinking about purchasing a new home you may have already run across the term “rent-to-own”. In fact, many buyers are trying the process out as a new way to enter into home ownership, so it is only natural to be curious about the option. Any real estate professional will be able to discuss it in more detail with you, but here we will take a look at exactly what “rent-to-own” actually is and how it may benefit a buyer.

The Need for Getting Free Property Valuation Service

A property valuation report is a report that shows the price rate of a particular property. Price rate of a property can also be called as the market price of the property. It is determined by a property evaluator from a reputed property valuation company. Every property valuation company offer various services. It can be…

A property valuation report is a report that shows the price rate of a particular property. Price rate of a property can also be called as the market price of the property. It is determined by a property evaluator from a reputed property valuation company. Every property valuation company offer various services. It can be found that certain companies offer you some more information rather than the valuation report alone. This will provide you with a lot of other details that one must follow during buying or selling of property. Free Property Valuation service from valuation companies includes basic guidelines that will help us in interpreting the information.

What you receive with Property Valuation Report

• List of registered proprietors or owners
• A description of property as per the laws which includes the structure of the land
• Zoning or Resource management
• Valuation includes the market rate of the property

Region

In the region section, the evaluator will be putting in the complete details of the area of ​​the property as well as the demographic description. It also consists of all the facilities and features that will be found in the area as well as its vicinity.

Basic details and completed description of the property

This is a section in the valuation report where you will find the details of the property that provides a detail of the residential market value and the commercial market value. Other factors that do not affect the final price are ignored altogether.

A detailed description of the improvements

Description about the improvements in the property valuation report is something that is considered as a very important part in the report. When there is a chance of improvement in the property, there is a large chance for the increase in its value. This is the reason why such details are described in the valuation report in a detailed manner.

The methods used in property valuation

The main methods used in the evaluation of the value of property are:

• Sales approach
• Income assessment approach
• Depreciated replacement cost

Getting the right information of the neighborhood

When we want to know the right market value of our plot or property, it is natural to compare it with the neighboring property. It is because a fact that one of the major methods used during property valuation deals is a sales comparison approach. Here it is very important to check the rates of the properties that are similar, and those that are found in the neighborhood. When an evaluation is made, you need to give the evaluator the details of the rate of property in proximity, property value and sales price (if it has been sold), price of property and other details so as to get yourself a proper valuation result of your property.

Your involvement during valuation

When you avail a Free Home Valuation service, make sure that you are present with the valuator, as this will help them to collect the right details of the land and help you give the proper valuation document.

Roommates Are Okay, Subletting Is Not

We recently had a member ask us about an unusual situation after a tenant moved out. The tenant had given a 30 day notice to vacate. Once the tenant had moved the manager noted excess damage to the unit. Unfortunately, the manager did not send out the disposition of the deposit within the 21 days…

We recently had a member ask us about an unusual situation after a tenant moved out. The tenant had given a 30 day notice to vacate. Once the tenant had moved the manager noted excess damage to the unit. Unfortunately, the manager did not send out the disposition of the deposit within the 21 days prompting inquiries about the late return from not one, but two different parties. The original tenant had sublet the unit to another party without the manager's permission. Both claimed to be entitled to the security deposit.

With the current high rents, shared living has quickly become very appealing to property owners with an extra room and to tenants for a variety of reasons. Many sights have popped up offering sublet units like Airbnb, HomeSuite, Roomoram, Craigslist and Sublet.com. On the flip side, it has also become a concern for rental owners who are unaware that their tenant has sublet part, or all, of their unit.

Subletting or having roommates has become popular for a couple of reasons. A property owner, especially someone on a fixed income, who rent a room to offset some of their borrowing costs allowing them to remain in their home after retirement or when faced with a change in their financial security. With today's high rents, tenants can choose units with better locations and amenities that are still affordable when cutting the expenses in half or in thirds. Where it all goes wrong is when the tenant rents a room or a portion of the property without the owner's knowledge or consent.

All rental agreements should include a clause that addresses subletting stating the tenant may not rent, assign or sublet all, or any portion of, the property without the owner's written consent. If violated, the owner should reserve the right to terminate the agreement. This is not to say an owner would discourage roommates. This is to make sure the owner has approved any potential occupants.

With our current high rents more individuals are looking to share housing. It's not uncommon for two, three or four individuals to rent together. Owners understand that sometimes situations change and while one resident wants to leave the others choose to remain. This is where communication is so important. The roommate leaving needs to give notice in writing of his / her intent to vacate. The tenants remaining should express in writing their desire to stay. Ideally, the remaining tenants find a new prospective roommate and that prospect submits an application for approval from the owner.

Cities with rent control have created additional concerns regarding subletting. Rent control has kept long-term contracts at artificially low rents. Often when the tenant desires to move they are faced with the dilemma of giving up their under market unit that will no longer be available at the low rent should they decide down the road to return to the area. By design this encourages tenants to illegally sublet their units. Not only can they keep their low rent unit, they can rent the unit for much more and make a profit.

It's important for an owner to know who is living in their property. Tenants must be allowed to open their home to temporary guests. However, a well-written rental agreement should define at what point the temporary guest becomes a permanent resident.

Asset Protection: Learn the Ways to Safeguard Assets From Liabilities

To secure your rental assets and properties there are some simple things that you may consider. Prepare a strong and sound lease agreement When there is some problem with the tenants or with your property, the first and foremost thing is to produce the lease agreement in the court of laws. A vital aspect of…

To secure your rental assets and properties there are some simple things that you may consider.

Prepare a strong and sound lease agreement

When there is some problem with the tenants or with your property, the first and foremost thing is to produce the lease agreement in the court of laws. A vital aspect of a lease agreement is to obey the state and local laws. So your chief requirement should be an airtight lease agreement.

Purchase properties in the name of a legal entity

Always try to build a legal entity under the name of which you could purchase property. Also ensure to have a joint ownership of the property. This would help avoid problems related to suing or litigation by others. As when you own a property in your name, it will instantly show up as an asset if someone chooses to sue you and this can call for serious legal problems.

You should also restrict the number of properties that each of your legal entities own as all the other undertaken properties would be unacceptable, if even one amongst them is litigated. Hire reputable providers for proper asset protection services, when you find self-management difficult.

Provide appropriate legal disclosures to the tenants

You must give the tenants the most authentic and legal real estate disclosures while they are signing the agreement. An agreement with loop holes can make your tenders successful in suing you if they wish to. Remember to check all your local landlord and real estate laws before creating the agreement and if required contact a local real estate lawyer specializing in landlord-tenant law.

Decent property management and tenant screening

Screening tenants is a real tactful and hard job, requires keen investigating knowledge and proper assessment, understanding for scrutinizing both individual and business tenants. The main purpose of this screening is to evaluate the probability of the tenant in fulfilling the terms of the rental agreement and also in taking care of the rental property in question.

Property management is an equally important aspect of property protection. It's always true that a good landlord who responds to his tenants when they call for a problem or concern about their legal assets, are less likely to be sued. So keeping a good rapport with your tenant is very essential. You can even hire property managers instead to help you manage and protect your rental properties in an efficient way.

All of these can prove to be highly time consuming and complex for most of you, so opting for some asset protection services could help very in bringing down all the hard work and tension related to managing your rental property.