Tips To Avoid Mistakes When Renting Your Home

rented properties in Gurgaon

Whether you want to buy a house or apartment with a tenant inside, you should avoid certain mistakes, that said, keep these keys in mind when buying a home with a tenant:

Does the tenant have a right of first refusal to the home?

This is like football, it may be the case that the person who resides in the house has the right of first refusal to execute the purchase. It is important since at the last moment you can exercise this right stipulated in your contract. The seller must inform the tenant of the offer and he must decide if he has this clause.

It may be the case that not only would it have the right before you as a possible and future buyer, but that it may even exceed the right of purchase of any third party.

So our recommendation is to consult both the seller and contact the tenant to find out their intentions. If there is no interest go ahead. And if there is no clause, also go ahead.

Does the house or apartment have charges or pending taxes?

This which seems minor is not. As you would do with any property, the first thing you should do before buying and signing anything is to check that the rented property in Gurgaon that will belong to you does not have any type of tax burden, or tax or pending tax to pay.

What type of investment is it? Is it safe?

Of course, this is a different purchase because someone resides in the home. But it is a normal operation, more common than you think and above all, safe.

We say safe for several reasons, the first because the tenant will continue to pay you for what you get monthly money and second the tenant enjoys the apartment until the rental contract ends.

The person who lives does not care who the owner is as long as he maintains the services and rights signed in the rental contract as well as complies with the obligations of a landlord. So it is a win-win situation for both parties (both the owner and the tenant).

The contract is sacred

As we have told you at the beginning, the law protects the tenant, so no matter how much you want, you cannot throw it out during the current time of the contract signing.

Once the term of the contract ends, you can execute the option of not renewing it, either to rent it again or to sell it. Whatever the case, if there is a signed rental agreement, forget about breaking it.

Breach of rules and rights

In the same way that you, as the owner, must respect the rules and rights that you have as the owner, the same happens with people who live for rent.

Tenants also have obligations to fulfil and if they do not do so, above all, the basic and most important ones such as taking care of the apartment, paying the monthly payments and respecting the home, actions can be taken against them.

One of them is to request eviction, especially if there are defaults and for this you can and must initiate a judicial procedure. The tenant can refuse to leave the rented properties in Gurgaon voluntarily, if he does, you must and you can evict him if it is shown that he has effectively not fulfilled his obligations.

Keys To Buying A Rented Home. It Is Profitable?

rented property in Delhi

Is it possible and profitable to buy a house or apartment that has a tenant? In this article we are going to tell you everything you need to know about buying a rented home and for this we are going to give you a series of tips and keys so that you do not have problems in case you decide to buy a home with a tenant.

Buying a rented home, to what extent is it profitable?

We go in parts. First of all, acquiring rented properties in Delhi is more common than you think. Obviously, not everyone does it, but it is not as strange a situation as you might think.

Above all, it does not attract so much attention if we think that there are other scenarios in which there are people who sell their home and continue to reside in it or there are even situations of people who want to buy a house while selling theirs.

For all this, there are buyer profiles who buy a home thinking about an investment since they have a business idea and want to obtain economic returns with it. This profile or anyone else who thinks about this possibility must take into account the following aspects:

It is profitable?

First of all, answer the question, yes, it is profitable. In the following link we will tell you some real estate investment alternatives among which rent and sale are present, although there are more, and some of them are interesting.

Therefore, the key in this case is the duration of the contract. The question and what you should ask yourself is if you want to keep the house with a tenant who has a long rental contract.

In the event that you have the apartment for rent and we want to sell it in the future, we must establish it in a clause included in the contract.

Assuming that this clause is active, the contract must always be respected and in all cases since the current law guarantees that future owners of rented property in Noida must respect the tenants regardless of whether or not the rental contract is registered in the Registry of the property.

That is, you must take into account the duration of the tenant who resides in the apartment. Maybe he has a year left, like two or three of the contract since he just signed it recently, if you don’t care about the purchase.

On the other hand, think that tenants can also request a rental extension at the end of the contract in the event that the owner is a company or real estate and not an individual.

But this changes with the purchase of the new owner, so it would be necessary to agree on the situation once the contract is finished.

Of course, when it happens, the tenant can ask to continue living in the residence, but that the owner wants and can is another matter.

It is not obliged and has mechanisms to get the tenant to leave once the contract ends. That is why we say that it is important to know how long the contract is.

Invest In Rented Properties And Get Profitability From Day 1

Compared to other products, such as investing in the stock market for example, investing in a land for sale in Gurgaon is simple because in many cases our personal experience and knowledge of the environment play a great role, all or almost all of us have bought a property at some point and have access to experiences first hand on the rental plan.

land for sale in Gurgaon

Although it is true that, a priori, great technical knowledge is not needed for the selection of a property, it is necessary to take into account a series of elements before embarking on the real estate adventure.

Likewise, there is a relative simplicity in the management of the investment after the purchase, since it is based on concepts that we know.

Two-stroke profitability

When we invest in properties we can have two types of profitability, the one that we can obtain from the rental of it and the one that we will obtain from the sale of the property, that is, the capital gain.

The profitability obtained from the rental of a property is easy to calculate and very tangible. Although the expected return at the end of our investment in rented properties in Delhi is merely speculative, and much more difficult to determine, especially in the medium-long term, but it is still a value that tends to rise.

Control over investment

When investing in the stock market, it is usually necessary to hire a “broker” to carry out the operations for you, and the value of any participation depends on market conditions and even on the actions of the people who run that company as well and macroeconomic factors, where a high level of uncertainty is assumed.

This does not behave in the same way in the case of property: once it has been purchased, you are the direct owner of the asset and have full control over it.

This is something very powerful, as it means that it can influence both the value of the property (adding value) and the cash flow (for example, increasing the income obtained from the rent).

Investing in real estate offers control that other products either by nature or management do not offer.

A property can be sold when desired regardless of how the market behaves and even when selecting tenants we can choose those that best ensure profitability or lower risk.

The price is flexible

When you buy a share, you buy at the current market price: there is no margin to trade. In the real estate market, it is exactly the other way around: buying and selling is all about negotiation.

When you buy a property you can convince a seller and, likewise, a motivated buyer could pay more than expected for the right property.

There is also a margin to find undervalued properties that can come from difficult personal situations or an asset liquidation that requires immediate liquidity. To get the best deals for buying or investing in properties, our recommendation is that one should turn to property dealers in Noida and avail their best services.

Buying Occupied Accommodation: Advantages Of A Rented Property

Buying an occupied property, that is to say acquiring a dwelling occupied by a tenant during the lease, can present for an individual, a judicious investment. Discover the features of buying an occupied home and our advice for making this type of real estate investment a success.

rented-property-in-delhi

Three strategies can be at the origin of such an acquisition:

  1. The buyer wishes to secure additional income.
  2. The buyer aims to live in the main residence in the longer or shorter term. This is particularly the case for expatriates who invest in stone in their country of origin, without having an urgent need to occupy the accommodation and who wait a few years before moving in.
  3. The buyer wishes to eventually house his children in the property.

These three situations which explain the desire to buy an occupied property should not make us forget that the practice certainly has bigger advantages.

Buying occupied property offers an attractive discount

Buying rented properties in Delhi costs less to purchase than an empty asset. The discount can be significant. The figures are not unanimous but the result is there: a price quite below the market, which can be sufficiently tempting during a period when prices are rather high.

Investing in rented accommodation allows you to know your tenant in advance

Another major advantage of “occupied sales” is that you do not need to look for a tenant in the event of a rental investment and thus be assured of not having to face a rental vacancy.

Indeed, during the signature at the notary, at the same time as the acquisition of the property, the lease transfer takes place and you become not only the new owner of the property, but also the new lessor of the tenant.

To notify the tenant of this change, you will need to write an addendum to the lease. A good opportunity to communicate your contact details or those of your representative with a view to paying future rents.

The assurance of not being faced with a rental vacancy is doubly interesting for the investor. On the one hand, he receives a rent without interruption and on the other hand, by this means, he reassures his bank, fond of this kind of investment because it involves a more limited risk.

Thanks to the rental income from the rented property, your mortgage is reimbursed

The acquisition of rented properties in Noida can be done by borrowing via a mortgage and you can count on the rents collected to repay all or part of your monthly payments. The operation can indeed be painless for you insofar as the rental income can cover all the monthly payments of your loan.

Be careful, however, an owner may wish to resell an occupied property because his tenant is a bad payer and he has trouble repaying his loan, not being able to count on the rent for that. So always ask so as not to find yourself in the same situation, the history of sales receipts.

We also remind you that you must take into account the tax on your rental income. The total amount collected cannot therefore be used to repay your credit. Remember to deduct the share that will go to the tax authorities.

How Living Near Your Office Is Better?

Think about the length of your workday. If you are counting the hours from the moment you sit at your desk, you are doing it wrong.

Your work day really begins the moment you leave your home and lasts until you return through the front door. You can only spend eight or nine hours in the office, but once you consider the trip, what is the grand total? Much more time than you suppose, and in a year it adds up enough hours.

If your office is in Gurgaon and you live far away from your office, then considering rented properties in Gurgaon is one of the best option for you, why? Here are some good reasons to live close to work:

rented property in Delhi

Less chance of accidents

It doesn’t take a mathematician to figure this out: Less time in your car means fewer chances of getting caught in an accident.

Save money on gasoline

Think about how much money you spend on gasoline each month. Now think about spending that money on something more meaningful or fun, since the way to work is short.

Minimize stress

Commuting is stressful, insulating, and can make your day quicker from day one. You will also be much less distressed with traffic.

Reduce pollution

Less time in the car means less time releasing toxic emissions, and you’ll contribute to the environment.

Become a more reliable employee

When it is easier for you to get to work, it is easier to be on time and miss less.

Improve personal health

In addition to reducing your stress, making up for lost time, it means more time to sleep, exercise and choose healthy foods.

Increase your productivity

If you’re in a better mood when you get to work, you’re more likely to think clearly and be more productive throughout the day.

Improves the balance between work and home life

When you live 10 minutes from work, taking your lunch break at home becomes much easier and you can organize more dinners at home. It is also more feasible to get home on time to take children to extracurricular activities.

Improve your relationships

At least one study has linked longer trips to a greater chance of divorce. Romantic relationships aside, when they spend more time together, they have more opportunities to show their friends and family the love they seek and deserve.

Improves overall quality of life

Technically, achieving any of the above would improve your quality of life, but we are saying it again here because it is so important. Something as simple as traveling shouldn’t hinder how happy you are.

Yes, it is easy to talk about reducing travel time, but actually it is more difficult to do. Particularly if you work in the city, but don’t want to live there.

Try this: think about where you want to live and how to find a good job nearby.

If you work in Delhi, then living in one of the rented properties in Delhi will bring multiple advantages to you, your work and your family.

How To Move Out Of A Rented Apartment?

More and more people are choosing to rent apartments rather than buying real estate. This is due to the fact that banking conditions for the purchase of real estate are impossible for many. There are many rental options: it can be a long-term rental (more than 2 years), tourist accommodation (rent by day or week) and short-term rental (from several weeks to 12 months). Many people know what it takes to rent an apartment, but not everyone knows how to move out of a rented apartment.

Move out of a rented apartment

When you sign a rental contract, you agree to all the terms of the contract, and we strongly recommend that you familiarize yourself with the terms of the lease, which vary depending on the real estate agency. In the case of a tourist rental, the tenant has the right to stay in the apartment for the number of days specified in the contract. Upon the expiration of the contract, the tenant is required to vacate the apartment and return the keys.

The same thing happens with a short-term lease: the date of completion of the contract is indicated, and the tenant does not have the right to stay in the apartment. If the tenant wants to extend his stay, a new contract is concluded. In the case of a long-term lease, the contract is extended until the tenant wants to move out of the apartment. It is with this type of lease that problems arise when a lease is completed.

The tenant of the rented properties in Noida is obliged to notify the owner of the apartment and the agency about leaving the apartment. Each contract indicates the minimum period for which you should warn about the departure. The agency has the right not to return the deposit for the apartment if you do not fulfill this clause of the contract.

The deposit (usually 2 months of rent) is refunded in full only if the apartment is in the same condition as at the entrance. We strongly recommend that you carefully check the inventory specified in the contract. Make sure all objects listed in the inventory are in the apartment.

Also, we recommend that you take a photograph of the apartment on the day of arrival. If you want to change furniture, be sure to warn the owner of the apartment, without whose consent you do not have the right to change anything in the apartment. If you throw away the furniture that is in the apartment, you will be forced to pay the price for each item.

If you stopped in an unfurnished apartment and the owner of the apartment is not interested in the furniture you purchased, you will be forced to leave the apartment empty. On the day of completion of the contract, after you have collected all your belongings, the real estate agent must carry out an inspection of the apartment and arrange for the return of the deposit if the rented properties in Gurgaon is in the same conditions as at the entrance.

How To Manage A Rented House?

If you have an apartment that you have rented to tenants, you should consider protection against unforeseen events: on the one hand, an insurance cover that can keep the value of the property safe and, on the other, a series of measures to prevent any damages do not cause you an economic loss.

An empty house always gives you some thoughts: the expenses for the property are there, the maintenance interventions must be done constantly and in any case, in the long run, the value of your investment could be reduced due to many controllable and uncontrollable factors. Also for these reasons many people choose to rent one or more rented properties in Gurgaon: it is a way to get an income from an investment, or to lighten the pressure of the mortgage (if on).Rented Property in Gurgaon

Before renting a house: precautions

To make a real estate investment profitable you can rent your home and guarantee a constant income over time, but there are precautions to take to avoid unpleasant incidents:

Learn about future tenants: it is not a lack of trust but it is your right to know who will be taking care of your home (and therefore, indirectly, of your money). You can organize a preliminary meeting to get to know them or even ask them to fill out a questionnaire to learn more about their family situation, profession, interests and everything that may be of interest for the management of the house.

Make sure you ask for adequate guarantees before signing the contract: it is not just a matter of agreeing an adequate security deposit, but of asking for an advance deposit. To better protect yourself, you can read up on the current economic situation of the future tenant by requesting a copy of his latest payslips.

Should this not be sufficient as a guarantee and you still have some doubts, you can ask the future tenant to activate a bank guarantee through his own bank, whose commissions are totally at his expense, to cover the rent: in this way, if they should there being delinquencies in payments, it is the bank that guarantees the sums.

House for rent: and if the tenant does not pay?

Doing everything according to the rules and taking the right precautions is essential but it does not put you completely at risk.

What can you do against renting your home?

The main risk to which you expose yourself by going for rented property in Delhi is that of default, the first worm in the mind of the owner who decides to rent and an eventuality that certainly puts him in a difficult condition.

If you have this doubt, you can protect yourself in advance by asking the future tenant to sign a bank guarantee with his bank: the future tenant will have to bind the sum equivalent to the annual rent with the credit institution so that the latter can guarantee for him. However, if you have not done so and this case should occur, you can choose to go to a civil mediation body that frees you from the delays of the Courtrooms. This option is certainly faster and cheaper.

How to Choose a Retail Space for Rent?

Properly chosen space brings business income. Unsuccessful premises will result in losses and the burden of unrealized opportunities: you could earn money, but in such a room it will not work. How to rent a commercial space for rent and make money on it, we tell in this article.

How to choose a room under the store? Depends on business strategy

Whatever business you do, before choosing a business Centre in Delhi, you must define your business model- what standard you want to meet and for whom to work.

Target audience is another landmark when choosing a retail space.

In addition to the business model, the choice of the premises and its location is influenced by the target audience of your business. Think about who and in what conditions is interested in your goods. And which of them do you want to sell the most and most? We will give an example from the pharmacy business.

Retail Space

 

Which rooms are better: in buildings (first floors of houses and buildings) or in shopping centers?

Commercial space on the first floor of a building or apartment building. A good option if the house is well located and the room is on the first floor, while it has a separate entrance from the street.

You have the right to install a sign above the entrance and on the windows, and to place outdoor advertising you will need permission from the management company or the HOD and the Committee for printing and interacting with the media.

Good commercial premises- in new homes. But they are more expensive.

All premises have some reputation. For example, if you drove into a room where you had a similar store, you would get the “loop” of its reputation. Out of habit, those who went to the former tenant will go to you.

If the rented properties in Gurgaon is rented for the first time, then it will take time to “promote” it. The normal period to remember people is six months or a year. You may have to do repairs.

What you need to remember about commercial premises in buildings and homes:

  • On average, prices for renting space in a building are lower than in a shopping center.
  • You can set a convenient schedule for you
  • Compared to a shopping center, it is more difficult to choose a good room.

The room in the mall. Modern shopping centers are built in good places, where a lot of people have all the infrastructure for shopping: parking, restaurants, play areas. People go there to buy and stay for the whole day.

What you need to remember about the premises in shopping centers:

  • Completely ready premise – drive in and trade
  • Nice place, great cross
  • High rental prices

Competition inside the mall

It will be harder for you to set your own schedule. Most likely, you will work according to the schedule of the shopping center.

Conclusion: the most convenient (“enter – trade”) shopping premises – in shopping centers. But they are the most expensive. Premises on the first floors of houses with a separate entrance are cheaper.

Even on Vacation the Real Estate Market is Always a Bargain

Making the most of or using your property is always a matter of intuition and knowing how to seize the opportunities that the times and current legislation set. Nowadays, we often talk about the sharing economy and its potential as a new form of economy, like business turnover and above all, as a new lifestyle. It is precise “the sharing economy” that helps those who are thinking that their home can be used in alternative ways or to make use of it, especially during holiday periods.

This idea goes perfectly with the need to not engage in long-term contracts or not to renounce the availability of your apartment permanently. There are many alternatives to long-term rent, and we can see some of the most interesting ones together.

The short-term rent that is the tourist rent or “holiday homes” is the rental for limited periods of an apartment furnished on a weekly or daily basis. Many vacation homeowners rent their property for most of the year, at all times when they do not use it themselves; this allows perfect flexibility between use and income.

The income level is also an exciting aspect of this new type of rents. The tariff is in fact adherent to the tourist needs, that is, high or low season. This differentiation in rates offers income opportunities higher than traditional rent. It is also guaranteed by the fact that a minimum rental period can be foreseen in high season, to ensure that you maximize your income.

rented property in Delhi

 

The fiscal aspect is not secondary. In fact, rented property in Delhi in the short term often means access to tax breaks or deductions for expenses. For this, it is necessary to be somewhat informed about all the novelties of the current legislation, and the advice to contact professionals is not to be taken for granted to make sure you are aware of all the news and all the typical features of the local legislation.

Finally, there is one final aspect to consider the advantages of this innovative type of rental. Since the short duration varies from a few days to a few weeks, the guests do not need to personalize the environment or to redecorate it, and this guarantees the owner from the bad management by the tenants of the apartments rented traditionally.

Although the advantages of property provided by real estate agents in Delhi may seem many, some short-term drawbacks must not be overlooked. To preserve its appeal on the tourist rental market, special attention must be paid to the quality of the environments that make up the property, guaranteeing a high level of cleaning and maintenance and these can also be significant expenses. The qualitative and aesthetic level becomes particularly essential when you are in contexts of stiff competition, such as in the historical center of a city, where the offer can far exceed the demand.

Therefore, although less demanding than a traditional tourist activity, the holiday home has particular characteristics of the sector and still requires a good deal of participation and attention from the owner. But as often happens in many entrepreneurial or para-entrepreneurial contexts, once the activity is started, the most is done!

Real Estate Agent: Is The Luxury Real Estate Market For You?

The luxury real estate is a real market that has little to do with the traditional real estate market. Often mythologized and full of clichés luxury, even in real estate, does not know the crises of conventional markets.

What approach should the real estate agent take that decides to take this opportunity?

It’s a question of values

Logical or affective constancy in thought and actions, in other words, COHERENCE. Yes, coherence is the first value that is required of the real estate agent working in the luxury sector: consistency in communication, the positioning of the brand, and presentation of the property.

Correspondence to the truth, not falsified, or AUTHENTICITY. You are a luxury professional, not someone who would like to be one. In the relationship with the customer, therefore, you will take care of every single detail that expresses quality at the highest levels and detailed knowledge of the situation. The luxury customer realizes if you are up to the task or if you are playing a role that is not yours.

Put yourself in an immediate state of mind or the situation of another person. The client wants the consulted real estate agent in Delhi to understand his luxurious and uncommon lifestyle by showing a sincere interest in helping him realize his dream, very often linked to the concept of reward for the hard work done and the critical goal achieved.

The consideration of others conventionally felt as a right measure of morality. We are talking about REPUTATION. Rest assured that when a “high level” customer decides to rely on you it will be because, just like in the business that follows, he will have subjected you to “due diligence.” If you are a respected professional in the community or some professional organization or club, you will have excellent opportunities to work in luxury real estate.

Full ability to orientate in a particular field. COMPETENCE comes into play. Whatever the purpose of your professional commitment (the purchase, sale and even the lease), know that the luxury customer is looking for someone to make the path of selection and closing the business, in other words, the experience, less stressful as possible. You will need to be efficient, informed and foresighted, a professional who knows how to handle the unexpected without panicking, bringing solutions to problems that may arise.

In the high-end real estate services market, people respond to value, not price. If the goal is worth it, the customer will be willing to pay for it.

Relations, savoir-faire and collaboration!

To position itself in the luxury market, cultivating the right relationships with real estate agents in Gurgaon is crucial to creating a profitable ecosystem. People need to know that you are mediating luxury properties. It’s not enough to shout it on social media; you have to develop your influence off the web. The watchwords are: get out and meet!

If you decide to interact with a certain group of people, you must attend the same environments. Your marketing, for example, could include sponsoring an art show, or a cocktail in a literary club.

A second aspect concerns the attention you give to people. Stay in touch with them all year through a personalized greeting on the occasion of your birthday, a sincere compliment for a career advancement or another professional success, a surprise communication where you learn how things are progressing.