Some Useful Tips For Landlord

As we know that a landlord is the owner of real estate which includes rental houses, apartments, buildings that are taken on lease or on rent for a fixed amount to another person called as tenant or renter. A landlord can also be an individual person or even a corporate entity that owns real estate. If a real estate is owned by lady/ladies, they are generally known as landlady or landladies. A landlord may also act as the property manager and handle several tasks like selection of tenants, repairs, terminations, rent collection, and other management tasks. Many landlords having multi-unit rental buildings generally hires a property manager to handle day-to-day details of it.

Here are some tips that can help landlords or property managers to smoothly run their business:

Screen tenants:

Don't rent to anyone before checking their credit history, references, and family background. You may also use a written Home Rentals application to properly screen your tenants.

Get it in writing:

You may be sure to use a written lease or a month-to-month rental agreement to document good relationship with your tenants. It basically includes when and how you handle the tenant complaints and solve their problems.

Take Care Of Your Rental Property:

Remember that your property is to be maintained by tenant “in a good and healthy state without a need of repair and fit for the habitation”, and also for complying with health, safety, housing and maintenance standards.

Handle the security deposits properly:

Establish a good and clear system for holding, collecting, and returning the security deposits. Always documented the condition of the rental unit to tenants or renters before they moves in, to avoid several disputes that are generated over the security deposits when the tenant moves out from your
property.

Provide secure premises:

Don't let your tenants and property be an easy target for criminals. So you should take some reasonable steps for security and protection.

Disclose environmental hazards:

If there is any natural or environmental hazard related to your property, tell your tenants directly about it. Nowadays several landlords have being held liable for tenant health problems resulting from exposure to environmental toxins in the rental premises.

Lofts vs Apartments vs Condos – Read the Main Differences Here

Are you looking for a new home? But you are confused between Lofts, Apartments and Condos. If yes, you are at the right place to read the basic difference and make your decision. You might not know which is comfortable for you and of course the cheapest one also. Let’s take a look the basic difference between all of them and reach to your decision.

There is a little difference between lofts, apartments and Condos and these differences are well known by brokers, architects and contractors. The basic differences depend upon the space and design. If we take the difference between apartments and Condos, the only difference between two is proprietorship. But before proceeding further, we must know what these are to understand more.

What are condos, Apartments and Lofts?

• Condos are the individual unit of a building owned by a single family and all the facilities provided in the society must be shared with all the units are called as Condos.
• Apartments or flats are a single level home without a stair.
• A loft is an open and a large space where you can work and live also.

What are the basic differences between Condos, Apartments and Lofts?

Difference in Ownership:-

In Condos, you have full ownership in which you can modify (interior design and the exterior) according to your need and choice, but in apartments, it is owned by a developer and you must have to respect the rules of developers. Moreover, Lofts are a warehouse or called a living area specially designed for artist and they are the spaces of urban areas.

Sharing of Availability of specifications:

In Condos, you have to share the basic facilities available in the township such as swimming pool, parks, parking must be shared with other condo owners. But this is not the case for apartments. But the lofts are a single wide unit and have a facility same as available in commercial regions.

Layout:

Layouts of Both apartments and Condos are flexible as some are in great shape and some are of small size include Kitchen, living room, dining room and bedrooms. But Lofts are open, flexible layout or large open area which can be converted into both a living and working space.

Better Option:

Rent or stay, both options are better for an apartment where as condo rentals are not suitable, it is good for those who are looking for permanent staying. Moreover, the lofts are best for rent as it is suitable for working space like artists, hippies because of its wide and open space.

Advantage of living in a Condo, Apartments and Lofts:

The best advantage of living in a Condo is that you have full ownership and you can make changes according to your own way or style. The best advantage of living in Apartment is you have not to share the specifications and other facilities with other homeowners. While the advantage of lofts are spacious, large and you can easily convert it into your home by arranging the room according to your taste.