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Challenges of Managing Rental Properties

Visit Our Website Managing rental properties comes with several potential challenges. Majority of these challenges are as a result of tenant’s peculiarity while the other challenges result from inability of the management team to enforce the tenancy agreement. It is therefore imperative to ensure that the tenant understands these expectations detailed on the tenancy agreement and signs it from the get go. In many cases, tenants can behave as if they believe once they have paid the lease; they are under no obligation to obey the tenancy agreement. Below are list of some challenges landlords or managing companies have with tenants when managing rental properties . Ø   Rent payment: In some cases, tenants are reluctant to pay their rent on time despite receiving reminder notice(s) long before rent due date. Some issue checks that will bounce, while some will avoid payment by staying away from home during the day or refusing to answer the door when they know the management t...

How to Determine a Fair Market Value of a Land

Visit Our Website The sale of land can result in capital gain or loss. Before you buy a land for development or speculation purposes , take time to investigate the true market value of the land. This market value varies but within a certain range. To buy at market price means paying more or less for the land, this comes at the discretion of the seller. Some people may agree that a land is worth whatever anybody is willing to pay for it. A real estate investor should plan to buy below true market value or worst case scenario at market value. The actual market value of a land can be determined in several ways and it is depended on so many factors. You should be able to access and ascertain if the asking price is below, close or a lot more than the actual market value. Below are factors to consider why estimating land value. Real estate appraisal:   This can be achieved through the services of a valuer (professional appraiser) who has the technical know-how to estimate the act...