Fort Tryon Real Estate – Some Helpful Tips For Finding A Rental Property

Fort Tyron real estate in NYC is known to be one of the best places to live in the city, Located in Manhattan, the area extends from St Nichols Avenue to the Amsterdam Avenue and from 140th to the 145th Street. Since Fort Tryon is located on one of the highest points in the city, it offers a scenic point from where the views of Hudson River can be enjoyed. The skyscrapers in the area as well as the apartments are much in demand because of their views as well as their proximity to the Heather Garden and several other noteworthy gardens in the area.

Finding a Rental Property Suitable for Your Needs

Fort Tryon real estate is much in demand and therefore you should expect high rental prices. For many people, these apartments may not be suitable for their budget. However, it is best to negotiate before you take an apartment on rent. Even though it may seem that negotiations may not help, if you have the help of an experienced agent it would be possible to get lower rates. Real estate agents who have been in the business for long would be able to negotiate on your behalf and offer you lower fees and rental prices.

Things to Take care of before Renting an Apartment

Before you consider Fort Tryon real estate, it would be advisable to research a little and learn more about the area. You should also research about the rental prices in the surrounding areas and learn a little about the negotiating process before you contact a real estate agency. If the agent thinks that you are aware about the rental rates in Fort Tryon and that you know a little about negotiating, he/she would be more willing to make deal with the landlord.

Basically there are two types of listings that the agents will deal with, closed listings and open listings. For open listings in Fort Tryon, the agents will want to make a deal for one of the apartments on behalf of the client. What this means that there are several people seeking the same apartment and there are several agents that are trying to settle a deal. For closed listings, there would only be one agent who would have the right to close the deal for that apartment. Open listings are normally easier to negotiate since the agents would be in a hurry to close the deal so that they can get a commission. If you push the agent a little, you would be able to get lower rental rates and a discount on the fees.

If you follow these tips, you would be able to get Fort Tryon real estate options with lower rental rates than you would have thought.

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Letting Your Property – Some Simple Tips

property tips
by quapan

This article provides a few basic tips to evoke in order to successfully let your property.

Using a letting agent

Try to use a letting agent, which is registered with a regulatory body such as UKLA (UK Association of Letting Agents) or ARLA (Association of Residential Letting Agents). In doing this you are assuring that your agent offers a high standard of service and will adhere to a code of practice provided by these bodies.

Designing a tenancy agreement

Use the services of an experienced leasehold solicitor in order to draft a comprehensive tenancy agreement. If you believe that you are able to draft this document on your own then it is a good idea to at least have this checked over by a solicitor.

When getting the leasehold agreement drafted try to highlight areas in which you are willing to be more flexible towards tenants. In the current financial market finding tenants has become more difficult. Think about your stance on pets, smokers and restrictions on decoration when you are drafting the relevant provisions. Not only this but consider whether or not you would be open to accepting short term lets. Short term lets are not always a bad thing, they can provide you with some quick no fuss income. There is also the chance that a short term lease will develop into a long term arrangement in the future.

Showing your property

In order entice tenants into letting your property it is important that you present your property well. This should involve basic redecoration and replacing furnishings where necessary. The more appealing your property is the more chance you will have of renting it out and more than likely the wider choice of tenants you will have to chose from.

Keep in touch with your letting agent and enquire as to what steps they are taking to advertise and push your property on the market. If you have received no interest after a considerable period of advertising, ask the advice of your agent as to why they think this might be. It may be that your lease agreement needs tweaking or that the rent you are asking for is unrealistically high.

Energy performance certificates (‘EPC’)

A landlord must provide an energy performance certificate for all prospective tenants wanting to rent a property. The purpose of this certificate is to show these tenants how energy efficient the property is. The EPC shows both the energy efficiency rating and environmental impact rating for the property. An EPC report is valid for 10 years, you do not need to re-commission another report when your current tenant moves out.

The EPC report will contain some recommendations for the property in order to lower its ratings. A landlord is under no obligation to implement these changes, however if a physical change must be made to the property it will be you, not the tenant that is responsible. If the report contains some behavioral advice for the occupiers of the property, then it will be up to the tenant if they want to follow this advice. If the EPC report comes back with particularly high ratings then you should take steps towards improving this prior to renting out the property.

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Some Tips For Renting A Shared Property

Looking for a shared property to rent is something that is commonly done by students and younger people in their first job. However this is not always the case, particularly in the credit crunch when money is tight, and people may choose to share a house with other people to save money.

When people look for a shared property to rent, they may do so by informal networking. They may put the word around at their college or workplace that they are looking for somewhere. Sometimes work and college notice-boards will have notices from people who have rooms available. Or people may send an email to everyone on the work or college email system to let people know that they have a room available or they are a prospective tenant looking for one.

People with part of a property to rent will usually want a person who will fit in to the house. Fitting in could mean a number of different things. The people already in the house may want an active member of their social scene, or someone who is a non-participant. Fitting in may mean becoming part of the social group within the house, joining in with cooking for the group and eating and socializing together. If this is the case the people in the house will want to get to know the newcomer to see if they like the person and have things in common.

Alternatively, fitting in to the house may mean not joining in, for example a married couple may want to rent a room out to someone who they would rather not have around the house too much and leads an independent life from them. So if the prospective tenant is a person who works late then goes out socializing most evenings, and at weekends goes away to see friends and family. Then the married couple are likely to be very pleased.

People with a property to rent will therefore want to talk to the people who they may be inviting into their house, to find out what kind of tenant they may be getting. Initial impressions are important, but it is also prudent to tell the person what you are looking for and also to ask them what they are expecting when sharing a house.

Equally, those people who are looking for a shared property to rent should also make sure that they talk to the other people in the house to find out whether they are likely to fit in. Anyone looking for a property to rent should carefully consider the people that they will be sharing the house with. If they like the people and feel comfortable with them, they should ask some straight questions about what the people in the house are looking for.

Hopefully the above points will help people who are involved in a shared property to rent scenario, both the newcomer coming into the house, and the people who are already there.

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Some Tips For Buying Investment Property

Whether you are an experienced investor or a novice, your motivation for buying investment property is the same. You want to increase your net worth and make some money from rental income.

If you are an experienced investor you probably already know what you need to know to invest wisely. As a novice investor, you should make sure to do your due diligence and learn everything you need to know before trying to buy investment property so your deal goes off without a hitch.

The best piece of advice you can get is to start small. Do not go for that multiple unit apartment building right out of the gate because not only will you be biting off more than you can chew but the experienced seller will see that you do not know what you are doing and take advantage of you.

Start small and learn all the tricks of the trade so you will lessen your risk of being taken advantage of by some unsavory characters of the investment business. There are several different types of property to invest in and for the novice investor the choice should be a single family home to fix up and rent out or maybe buy a duplex where you only have two tenants to deal with. Handling your first few investment properties well and getting good deals will give you the confidence to eventually go after the bigger fish down the road.

Before entering into any kind of a contract you should research each property and get each one inspected for unseen factors that may affect your pocketbook. You will have to do some freshening up of each property you invest in, but the problems for your pocketbook will come if you start sprucing things up and the find that you need to replace the entire kitchen floor because of dry rot or there is a termite infestation in the house. An inspection of the property before you buy it will determine what those unseen problems are.

You should make up a budget for the work that needs to be done on the inside of the property after you buy it. You want to spend the smallest amount of money you need to to make the property appealing to prospective tenants and you need to get the work done in a timely manner to get a tenant into the property as quickly as possible. If the property sits vacant it will only cost you money instead of making you money and that just defeats the purpose of investing.

Once you master a smaller unit or two you can consider moving up to an intermediate type of property and maybe invest in and rent out commercial property of some type. Before buying any commercial property, research the area and make sure the location is sound. Is there a lot of vehicle traffic going by everyday or maybe a lot of foot traffic. You need to make sure that the commercial building you want to buy will get the customers needed to ensure your bottom line. That bottom line is continued monthly rental income from buying investment property.

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