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Landlords,
property owners & agents
Do
you need a marketing strategy to let your property?
Let
your property via this web site quickly.
email
now!
Your
Advert Here!
Just
£100 for a full 12 month listing. Less than £2.00
per week! You are purchasing one designated advertising
space at www.intercity-accommodation.co.uk
for twelve months. Your listing will be made live immediately
and again whenever you have a vacancy. There will be no limit
to how many times your listing can be made live during a 12
month period. As well as receiving enquiries from house-hunters
surfing the net and visiting our site, we will also drive
potential tenants your way every day by prospective tenants
calling you direct. These people are actively looking for
a property just like yours..
email
now!
Call
0113 2302303 or 4
Management
Intercity Accommodation has been established
since 1980. We do not sell properties nor do we sell any financial
products. Consequently our experience of the letting market
and knowledge of the Housing Acts 1988 & 2004 is not diverted
in any way. Our levels of service are maintained by our policy
of strictly limiting the numbers the numbers of properties
managed at any one time.
Since 1980 our occupancy rates have averaged at over 90 percent
per annum with prospective tenants currently being referred
to our offices by the Housing Advice Center, Leeds City Council,
the Tourist Board and the Trading Standards Department to
name but a few. A judicious allocation of our annual advertising
budget attracts a sustained level of enquiries throughout
the year.
Many people are renting properties for the first time and
there may be questions that are particular to your circumstances
that you need assistance with, or perhaps you simply want
a general outline of our industry or a certain point explaining
a bit more. Please do not feel that by asking questions that
you are wasting our time. You may in fact be highlighting
an issue that has not occurred previously thereby helping
us to avoid any similar confusion in the future.
Investing in real estate is a great way to increase your
wealth through capital appreciation. However, if you are interested
in buying and renting residential properties there are several
things to consider. Being a landlord can be extremely stressful
and expensive if you have managed to invest in property which
has not been well maintained. In this article, we will discussion
the benefits and risks of renting out residential real estate.
One of the biggest benefits to renting property is that it
is very lucrative. Not only are you making an income each
month you also possess a real physical asset which is quite
different then owning stock you will never be able to see
or touch.
Many people just are not comfortable owning something they
can no see. In the recent decades, many people have decided
not to invest in the stock market and place all their money
into real estate. Who could resist! With rapidly increasing
prices, high demand, and almost no risk – the benefits
are obvious.
Rental real estate gives you a monthly income. Property also
increases in value and your capital appreciates each year.
Real estate is one of the few investments that do extremely
well in time of increase inflation.
Remember, rental real estate can also be purchased with borrowed
money and this is called leverage. For almost no money down
an investor can own and rent a large residential property
like condos or apartments. If your rental properties cost
you more then you received in income from them, the profit
is tax free. Once there is equity in your residential property,
you can apply for a home equity loan and use that money to
invest with.
There are also several risks associated with rental properties.
First and foremost you are liability for any injuries which
take place on the property. If a visitor breaks a finger in
a door, you have to pay for it. Not only that but you are
subject to lawsuits which will be suing for not just the injury
but emotional distress. This is why it is extremely important
that all of your properties meet government building and living
standards.
There are always unexpected expenses. Apartments flood, walls
get cracks, and foundations leak. They are all your responsibility.
On top of that you have to deal with tenants. Ninety percent
of your tenants will be great people who mind their own business
but the other 10% will make you want to rip your hair out.
In case you are the owner of a property that you wish to
rent to an interested prospective tenant, you have to decide
which would be the best way to make your rental property most
appealing to potential renters. Real estate agents support
that there are several ways in which this can be done.
- There is always the solution of furnishing your rental
property. Many landlords decide that this is the best possible
way to increase the rental agreement on their property and
if they do have furniture in excess, it is actually a convenient
way to store them and make profit from their use by the tenant.
In case this sounds like something you would be interested
in doing, you have to make sure that your rental property
is in excellent condition and that the phone jack on the wall
and other appliances are in perfect shape.
- There is also the option of partly furnishing your property.
This method will appeal to renters who are interested in finding
a house that is not packed with furniture that do not match
and that they want to bring in some of their own. But it is
always a good idea to offer a nice quality couch, bed, mattress,
drawers and kitchen appliances. Nice looking furniture will
make your property much more appealing to potential renters
and will help you securing the rent you wish to receive every
month.
- Do not forget that your property has to be shown to its
potential residents clean. Everything has to be as clean as
possible and especially the kitchen appliance, cupboards along
with the bathroom have to be in great shape. Consider hiring
a professional team to do the cleaning and remember that in
most cases, providing a clean apartment is among your responsibilities
as the rental's lawful owner.
- Repair ceilings, kitchen cabinets, existing wallpaper,
closets and doors. Make sure your contractor will take care
of your bathroom damages and ask him to replace the bathroom
tiles that have been damaged by the previous tenants or owners.
Installing a new bathroom curtain and brand new hooks can
further assist your efforts of renting it at the price range
you have in mind.
- Repaint with the right light colours the walls of the residence
and get rid off difficult to handle paints.
- Increase the existing lighting and replace old blinds with
bright new ones.
- Take care of the things the previous owner or tenant has
left inside the house and if you are thinking of using some
or all of them to furnish the house make sure you write down
what you are leaving in there and what type of furniture are
missing and your tenant will probably request you to supply.
- Shampoo carpets and for deep cleaning that helps reduce
the allergens and the odours caused by dust mites, pollen,
dust and pet dander. It generally advisable to deeply clean
your carpets so as to brighten and deodorise their surface.
If you're still waiting for the perfect time
to buy investment properties, stop because you'll probably
find yourself waiting year after year for that time to come.
Over time the real estate market will go up and down, but
you can still make money no matter when you decide to invest.
You don't need a crystal ball to try and predict the future
to make it big in real estate. Don't think that you need to
time the market perfectly, because you don't. With a few simple
strategies, you can make big money investing in real estate
even if your timing isn't perfect. Buying Wholesale Properties
One thing you always want to do, especially in a cold (slow)
real estate market is to get a really good deal on every property
that you invest in. You want to be able to sell you're the
property below the current market value and still make a nice
profit. People are always buying houses, even in cold markets.
As an investor you basically always want to buy property at
wholesale prices and then sell it at or close to retail prices.
Buying property at wholesale prices as an investor needs
to be the norm. The better deal you can get when you purchase
your investment, the more money you'll make when you sell
it. You want to find yourself bidding low on several properties
at a time until you're able to find someone ready to sell
fast and cheap. If you are not able to get a house that you
like at a great price, don't get discouraged. One rule is
to never get personally attached and fall in love with an
investment property, remember this is just business and it's
not personal.
In both hot and cold markets you'll be able to find people
who need to sell their property fast and well below market
value. There are a lot of occurrences that will put people
in a situation where they need to sell fast, divorce, bankruptcy,
maybe the owner needs to move into a nursing home and there
are many, many more. All of these events are common and can
occur to just about anyone, which is why it shouldn't be that
hard to find these types of situations.
Rent Out Investment Property If it's not such a great time
to sell your property, then why not look at renting it? In
real estate, a slow sales market does not mean a bad or slow
rental market. You should be able to find a tenant and get
just as much rent as you would in any type of sales market.
It just might make sense to rent your property until the sales
market improves. The tenants rent should cover all of your
expenses and the whole time you'll be paying down your mortgage.
So, you should make money renting out your property three
different ways. 1. You are paying off your mortgage over time
2. Your making a monthly cash flow 3. Your property value
will increase over time
So don't get bogged down about what type of real estate market
were in today and what direction the market is going in tomorrow.
Find a great deal on an investment and go for it. Just do
it, if you make a mistake you'll be a better investor by learning
from what you did wrong. You'll be further ahead by going
for it than someone else who is waiting and trying to time
the market perfectly.
========================================================================================================================
Many people are looking for ways to increase their retirement
income. For most of these individuals, their homes are the
greatest asset. A large section of the aging population has
failed to plan effectively in order to have sufficient savings
at retirement. They now are looking to their real estate to
supplement their retirement income.
Real estate values are very unpredictable, especially now
with the decrease in the real estate bubble. Prices are falling
in some cities and flattening in others. It will take some
planning to get the most from selling your real estate to
supplement your retirement.
Be Realistic. To plan effectively, you must be realistic
about the price you may get for your home. Real estate is
an up and down market, so you should assume a traditional
real estate market for valuating your home, with gains in
value equal to the inflation rate. At retirement, you will
have the same purchasing power you currently have. If gains
in real estate values are better than the inflation rate,
then you will have more. Just don’t count on it.
Get the Most from Your Real Estate. People used to work hard
to pay off their mortgages for homes they planned to raise
their children in and retire. Since 1989, the number of people
65 and older with mortgage debt has nearly tripled, adjusting
for inflation. Making payments on real estate in retirement
years will deplete your savings and retirement income faster
than any other expenditure.
There are three reasons to pay off your real estate mortgage
— (1) decrease expenditures in your retirement years,
(2) use the mortgage interest rate that you will save to increase
your retirement savings, and (3) build more equity, in case
you need it as income on which to live later. Paying off your
mortgage is a good thing to do, regardless of what the real
estate market is doing.
Downsize Your Home. If you are living in a home that is larger
than what you need, do not hold on to it for sentimental reasons.
Selling the larger home for a smaller one can: (1) give you
a smaller mortgage payment than you currently have, or (2)
purchase a smaller home outright with no mortgage. It also
means less physical upkeep by you, as well as less maintenance
and repair costs in the future during retirement. Please keep
in mind that there will be selling, moving and new home renovation
costs that must be deducted from the sale proceeds.
Sell the Extra Real Estate. If you have a second home or
vacation real estate that will not be your retirement residence,
you may wish to sell this extra real estate now, putting the
sale proceeds into your retirement savings. You can put the
mortgage and annual upkeep payments for this property into
your retirement savings, too.
Reverse Mortgages. Though these products have been around
for some time, we are hearing a lot about them lately. Such
mortgages give you 50 percent or more of your home’s
value with no mortgage payments, which are collected by the
lender at your death or if you sell the real estate.
Beware! Reverse mortgages should be used only as a last-ditch
effort at survival. The interest and fees added to your mortgage
debt can be very costly. If you must consider a reverse mortgage,
here are a few smart tips:
• There are only a few reverse mortgage products now
on the market, but others are coming soon. So, wait two or
three years to garner more options and possibly better products.
• You must be 62 to qualify for a reverse mortgage loan,
but wait as long as possible to take such a loan. The younger
you are, the smaller the loan and higher the cost over time.
• Check out all of the products on the market and get
independent financial counseling on the best one for you.
They may look the same upfront, but the number of years and
the loan value differ greatly between products, as well as
the costs over time.
• Do not buy into the hype! Mortgage brokers receive
a large commission on these products. If you feel you are
being pushed in this direction, check out other lenders.
• Plan ahead. If you move and sell your real estate,
the lender receives all that is due on the reverse mortgage
from the sale proceeds. This could actually leave you in a
worse financial state.
If you would like a rental valuation, please contact us by
clicking the icon in the top left, or by clicking here: email
now!
Intercity
Accommodation are letting agents in Leeds.
We have a selection of houses to rent, as well as professional
and student flats. Our managed properties in Leeds are located
in various areas in Leeds depending upon availability.
Our web site is edited daily and includes property for professionals,
professional house shares, student flats, and flats and houses
to let in Leeds.
In addition to the above services, we also offer full management,
`let-only` and `advertising-only`for owners & landlords.
Property investments can be sought & acquired for investors.
For more information on our investment opportunities, contact
our Headingley Leeds Office, Tel.: 0113 2302303 or 2302304.
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