When leasing a million dollar home, either with the option to buy, or for a short period of time (like 1-2 years), a renter must sign a lease agreement in order to reside in the home. Usually the renter/future buyer pays a sum in cash, usually non-refundable of 2, for permission to reside in the home without actually having his name on the deed. For situations such as lease to own, the renter in that particular case would sign an agreement to buy the house at a later date, for a price that was previously agreed upon. Unfortunately in some of these situations, portions of the rent paid by the leaser may or may not go towards the actual price to purchase of the home. It’s important to understand these facts before committing to leasing a million dollar home.

There are many reasons why people choose to rent luxury homes instead of purchasing them. For instance, if you find that you like the idea of change and don’t wish to reside in a home for more than a few years, leasing would appeal to you more so than purchasing a home on a fixed mortgage. Also, with leasing comes the privilege of avoiding costly repairs. If you wish to rid yourself of some of the common upkeep required for homeowners, leasing may prove to be a viable option. Be sure to check with the owner first to see what he/she will or will not recover while you are residing in the home.

Insure that you understand what type of lease agreement you will be operating under. The terms “lease option” and “rent to buy” are oftentimes used interchangeably so inquire of the owner to find out exactly what terms they are offering. You also have the option to approach the owner as well with your own offer for leasing and which conditions you’d like to live under.

If while leasing a million dollar home you find yourself becoming tired of paying someone else’s mortgage, leasing to buy is a great way to buy the home at a later date. However, this may become a problem if you don’t have excellent credit since you may still need to qualify for a loan when it comes time to purchase the home. This is something that you should take into consideration before signing your name on the dotted line. If your credit happens to be subpar, you can indeed use the time you spend leasing the home to repair any errors and in order to clean up your credit for a future purchase.

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This being a requirement of the Energy Performance of Buildings Regulations 2007 with the result that both landlords and tenants will have more information about how energy efficient the property that they are either letting (landlord) or renting (tenant) is.

So what exactly constitutes an Energy Performance Certificate (EPC)?

Well each EPC is required to have three parts:

- The Energy Efficiency Rating which relates to the running costs of the property.

- The Environmental Impact Rating that relates to the carbon dioxide emissions from the property

- Finally the Recommendation report which provides the information on that which the landlord (or tenant) could do to improve the rating of the property.

It is worth noting that as Landlords you are not required to act upon that advice although clearly there will be recommendations where it would be in your best interests to do so.

People have got very excited about these EPCs but simply look at the back of your own domestic household appliances i.e. fridges, freezers and washing machines and you will see these there. Exactly the same rating system is used where an ‘A’ rating is the most energy efficient and ‘G’ is the least energy efficient. The average property is currently rated ‘D’.

The Energy Performance Assessment comprises an inspection of the whole property including any loft areas and basements, inside and out, together with measurements of room sizes and photographs of key elements. For the most accurate assessment the following details will be required:

- Age of the property

- Model number of the central heating boiler (if any)

- Documentary evidence of any improvements to the property such as double glazing, wall or roof insulation.

- Evidence of date and construction methods for extensions/conservatories/re-built areas of the property.

Where all this information is not readily available or indeed if no access is possible to parts of the property (e.g. the loft) the assessment can still be carried out, but assumptions may have to be made to allow an estimate of certain elements.

Now that you are aware what an EPC comprises – which Houses of Multiple Occupation (HMOs) require an EPC?

There has been an element of initial confusion surrounding this issue and the most up to date guidance comes from Communities and Local Government.

The current status is as follows

Landlords who have an HMO, with shared essential facilities (bathroom, shower, toilet and/ or kitchen) and who have individual tenancy agreements with their tenants do not need to provide an EPC unless they sell the house or let it as one whole dwelling, or convert it to self-contained units.

A mixed property with shared and self-contained units will require EPCs for the parts that are wholly self-contained.

Landlords of completely self-contained flats and those who let houses to a group of sharers (with one contract between all of the occupiers) do need to provide an EPC when they let to new tenants after 1st October 2008 or in Scotland 1st December 2008.

It is ironic that energy performance certificates will accordingly not be required for most HMOs. given the prevalence of HMOs in older housing stock with typically poorer inherent energy performance. It is unlikely, therefore that EPCs will have the impact needed to assist vulnerable occupiers of HMOs who are often least able to choose their accommodation.

An EPC when issued lasts for 10 years. As a landlord you do not need to get a new one for each new let, the same one can be re-used. Where changes are carried out to the property which may affect / improve the energy performance such as an extension, loft conversion, new double glazing etc, a new EPC may be commissioned.

Right guys – you now know what they are, where you need one for your HMOs and how long they last.

As in all aspects of the property business the best advice I can give is that you do not need to know everything but you need to know a man that can. In this instance you require an accredited assessor you will find one below.

http://www.epcregister.com

My advice if you have a large portfolio is to shop around for competitive quotes as several Valuation Surveyors have started to offer this service.

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Understand The Price Of Housing

Generally the closer you are to a downtown area, the more expensive your rental costs will be. If you have lived in the suburbs or rented a room from a friend, most likely your costs were low. However, when you rent a one bedroom apartment you will bear the costs all by yourself. You will be responsible for electricity, cable, and Internet. If your budget is tight, try living in areas that are a bit further from the inner city. Research the areas on the Internet in the city into which you are moving. You may discover some fresh areas that may be amenable to your situation.

Figure Out The Cost Per Square Foot

If you want to figure out exactly what you are paying per square foot, take the total cost you will be paying for one month’s rent and divide it by the total square feet in the apartment home. For example, if the cost of a one bedroom apartment home is $950 and the square footage is 700 sq ft, perform the following calculations. $950 dollars divided by 700 square feet equals out to $1.35 per square foot.

Remember that just because a certain apartment room may be larger than another, does not mean it more expensive. Keep in mind that you need to compare all apartment homes you visit with these calculations.

Compare Rental Units

Never sign a lease at the first apartment community you visit. There are several apartment homes in a big city. Leasing agents will try and influence you to lease a unit on the spot. Spend a few days scouring over several apartment homes. Try and view only 4 or 5 in a day. If you see too many, you will forget what apartments had certain amenities and features. Many renters today take pictures with their camera phones to remind them of the communities they have viewed.

Look For New Apartment Construction

New apartment construction usually offers the best deals. They are looking to lease up as many properties as possible. They are more likely to offer free rent and free deposits and application fees.

Use An Apartment Locator

Many apartment locators are 100% free. They will send you a list of properties and make all the phone calls you need.

Don’t give up, as you will find the best apartment home for yourself.

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1. The Internet is Your Friend
As a landlord you will have to be very informed on rules and regulations concerning landlord as well as the tenant. The Internet is a great place to research these issues, as there are special forums and sites for landlords. Also, the Internet is a great place to advertise you property should you be looking for new tenants.

2. Join a Landlord Association
These associations are a great place to pick up tips and advice on land lording. You are sure to gain a lot of knowledge that will empower you to for fill your duties as a landlord.

3. Keep on the Right Side of the Law
As a landlord you are obliged to provide tenants with a safe premises. Make sure you are informed of your obligations and manage it properly. Always keep in mind that there are laws against discriminating against race, religion and gender, so treat applicants with the necessary respect.

4. Get Good Insurance
As with all other assets, you should get insurance covering your property as well as your own contents. There are specific insurance packages for landlords that protect them should tenants sue them for injury or negligence.

5. Always Run a Credit Check
Tenants that are unable to pay their rent are a landlord’s worst nightmare. Be sure that you pick a tenant that has a good credit record.

6. Cover Everything in the Application Form
You application form should be comprehensive and should include contactable reference as well as a section for the applicant to declare an understanding of the terms and conditions of the contract. Keep all the documentation for legal purposes.

7. Consult a Lawyer
Drawing up a contract should not be done without consulting a lawyer. Make sure that you understand all the section in the contract.

8. Be Swift With Maintenance
Should the property need any kind of maintenance, get it done as soon as possible. You don’t want tenants to withhold rent until repairs are done.

9. Administer Security Deposits with Care
Keep record of all deposits and be prepared to pay back the deposit as soon as you have inspected the property for damage.

10. Pick an Agent Carefully
If you are planning to use a rental agent, make sure you pick one with experience and a proven track record.

As a landlord you have to face a lot of challenges, but being organized and keeping informed are the key to your success.

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An intended short visit almost always turns into months and months become years. Since farangs are not allowed to own immovable property (e.g. land) in Thailand, the most likely scenario is a long term lease of a house, condominium unit, or apartment.

Many farangs have had a few crash and burn experience when it comes to leasing immovable properties in the Kingdom. Who would not want to be spared of these undesirable experiences? Thus, it behooves you to acquaint yourself with a few leasing essentials to avoid unwanted brushes with your lessor and the law.

First, like any other transactions, before you turnover that deposit and advance rental payment, make it sure that you have a secured lease contract. There is no way for you to protect and enforce your rights and interest over the leased property if no written contract proves it. If the period of lease exceeds three years, it is imperative that such written contract be registered in the proper Land Office where the property is located; otherwise, you cannot prevent your lessor from evicting you out of the property after the lapse of just three years.

Second, be aware that the duration of the lease of immovable property cannot exceed thirty years. If you want a longer period, make sure that your contract has a renewal clause. The law only allows renewal for a maximum of thirty years.

Third, you do not have the right to sublet the leased property unless otherwise granted in the contract. The right to sublease should be expressly granted and not just presumed on the basis that no such prohibition is stated in the contract. You definitely do not want to forget this fact because sublease of the leased property without the express consent of the lessor is a ground for termination of the lease.

Fourth, if you are a sub-lessee (meaning you are leasing from the original lessee and not directly from the lessor), you have to be aware that you are directly liable to the lessor. This means that payment to the sub-lessor (the original lessee) cannot be used as a defense against the lessor. Thus, if the sub-lessor fails to pay the lessor, you can be evicted from the leased premises regardless of your prompt payment.

Fifth, the Lessor cannot terminate the contract without prior notice to the Lessee. If the rent is payable at monthly or longer intervals, a minimum of 15 days notice is required by the law.

Lastly, if your lessor transferred or sold his rights over the property, there is no reason to panic. The contract of lease is not extinguished by the transfer of ownership of the leased property. Since this is expressly provided by the law, this provision need not be expressed in the written lease contract to be effective. However, if it makes you sleep better at night, you definitely can have a provision to this effect be incorporated in the lease contract.

Since you are in Thailand, expect that the lease contract will be written in the Thai language. Thus, it is important that you hire the services of registered and reputable Thailand Lawyers to ensure that the contract is protective of your rights and interests as a lessee.

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Nowadays, there are special tools that give landlords complete access to an applicants nationwide background check. These tools and databases are cheap to use and provide an immense amount of information. Now you can see if they have lied at all on their application, or you can check and see what the real picture is of this person before you let them live in your property.

By having your potential tenants fill out a simple form giving their information, you can match this with the records in which you’ll receive from the check. This will tell you how honest your tenants are and help aide you in weeding out potentially bad renters.

So what all can these tools find?

You will be able to find any criminal records, any bankruptcies, alternate names used, addresses, marriages, divorces, and much more.

This can be a vital tool in knowing how dependable a person is going to be. Being a landlord can be a stressful job, so don’t make it any harder on yourself by trusting blindly without doing some research behind the scenes. It’s never been easier to find out the truth on anyone than it is today!

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Answering advertisements is all about standing out from the crowd and getting that elusive roommate interview. The key to unlocking the door is remembering that most people choose a roommate subjectively through a process of elimination. Your goal should be to avoid being placed on the “reject” pile while at the same time deciding if the advertiser is the right roommate for you. This means from the moment you contact a potential roommate showing them why you are the right roommate and giving them a reason to meet you. Whether you make a good or bad impression, its impact will be greater when the advertiser has received many responses. The advertiser will usually be more choosy, review your reply more critically and make a harsher judgement in deciding if you would be a suitable roommate.

So, how can you stand out from the crowd when answering advertisements? Here are 10 tips that can help you make a great first impression and secure a roommate interview.

To help you reach the next stage and set up a meeting, you should:

1. Be Positive and Polite

When you use a positive tone when communicating with the advertiser, they are more likely to want to get to know you better. It suggests you are a happy and enjoyable person to live with as a roommate.

2. Be Yourself

Advertisers will usually notice if you pretend to have same interests or change your personality to secure an interview. Being yourself is the easiest way to get people to like you and set up a meeting.

3. Communicate Clearly

You should make sure that you use correct grammar and spelling in your emails and speak articulately on the phone. This helps avoid miscommunication and shows that you can communicate well with others.

4. Tell Your Story

When responding to a listing you should let the advertiser know why you would be the perfect roommate. These should be qualities that you possess and are mentioned in the advertisement. It’s important to accurately describe and not over exaggerate the positive traits that you can bring to a household.

5. Keep Notes

Making notes can help you keep track of the contact you have had with the advertiser. If you can’t remember your potential roommate or any previous discussions you’ve had it gives the impression you are not serious about becoming roommates.

When answering advertisements it can be easy to say or write something you may regret later. Next time you reply to a listing, it’s a good idea not to:

1. Answer Advertisements When You’re Had A Bad Day

As the tone of your voice and writing is affected by your emotions and mood, it’s better not to reply to an advertiser when you’ve had a bad day or experience. You may not feel your tone was negative when contacting your potential roommate but you may disagree a few days later.

2. Make Promises You Can’t Keep

Agreeing to commitments that you know you may not be able to keep creates an unfavourable impression, inconveniences all parties and can cause conflict if you move in. This includes setting up interview times for which you may be unavailable or living arrangements that may be unsuitable for you in the long run.

3. Give Out Sensitive Information

You shouldn’t give out information that can put at risk your safety, personal identity or bank account. This information can include your bank account and credit card details, full date of birth or address and the details of your family members. When replying to a roommate listing you should use your own judgement in determining which information to give out.

4. Contact Advertisers When You’re In A Hurry

When you contact potential roommates just before leaving to go somewhere you are more likely to feel pressured for time. This can decrease your level of concentration which can lead to poorer quality emails and absentmindedness on the phone.

5. Speak Badly About Other People

It’s a good idea not to talk negatively about current or past roommates when corresponding with your potential roommate. While you may wish to share negative experiences, it’s important not to assassinate a person’s character as it may not be looked upon favourably.

When replying to advertisements you may not be able to stop your potential roommate from “judging a book by its cover” but you can put your best foot forward. Just remember, by standing out from the crowd and avoiding the “reject pile”, you too, can set up that elusive roommate interview.

Good luck and happy roommate hunting!

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When it comes to renting, one major benefit is having more flexibility about where you live, and how long you live in a particular place. If you have a job which requires you to move, or have not yet decided where to settle down, then it’s often easier to give notice to a landlord, find another rental home in the new location, and move. You don’t have the hassles of having to sell one house and buying another. Remember, even if you decide to rent out the old home, you need to make sure you can afford to meet the payments on two homes, find a suitable tenant, and maintain both properties.

Another advantage of renting is that, depending on where you buy, the rental payments may be less than the equivalent loan repayments you would have to make on the purchase of the equivalent property. As a renter, you also needn’t worry about maintaining the property or paying various rates and taxes.

But despite those advantages, buying your own home has a host of benefits that can’t easily be dismissed.

First of all, when you buy a home you get equity in the property. As you pay off your home loan you get more and more equity. Eventually you’ll have a paid-off home that’s all yours. If you need or want to sell, you’ll get hard cash for that equity. And although property prices may go up and down in the short term, they do increase over the long term. This means that your home will increase in value.

So although you need to make mortgage repayments which may or may not exceed what you’d have to pay in rent ñ as you pay off the principal of the loan, you’ll get more equity in the home. That sure beats paying rent ñ where you NEVER get any equity.

Another huge benefit of buying a home is that the interest you pay on your home is tax deductible. This means that your tax rebates will possibly double when you own a home. And while, as a home owner, you’ll have property taxes to pay, these are also tax deductible. If you rent, you cannot claim a tax deduction on rent!

Apart from the financial considerations, you also have much more freedom with your own home. If you want to make changes and additions to the property, you can. When you rent a property you are limited in terms of what changes you can make and need to get permission when you want to make a change. At the same time, spending money on changes to a rental property is generally a huge waste not only are you putting money into a home that isn’t yours, but you may well end up increasing its rental value… which means you’ll have to pay more rent!

Finally, it should be noted that taking out a home loan and then meeting all your repayments not only helps you get into the property market, but can give you more financial opportunities down the track. As you pay off your mortgage, your credit score will improve, and the better your credit score, the greater your ability to buy investment properties or borrow money for other investments. If you are interested in investing, this shouldn’t be overlooked.

While renting may be practical for some people, it just doesn’t beat owning your own home for either the emotional satisfaction of having a home that’s yours or the overall financial benefits.

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Another complicated thing, while renting an apartment in Dubai, is that almost all the owners require the whole payment in advance for one year. Because most people do not have this amount of money the renting process usually happens the following way. You will provide 4 cheques to the property owner that will be cashed by him every quarter. If he tries to cash the cheque and there is not enough money on your banking account you will have problems with both the bank and the property owner.

The best way to find property to lease is to go to a realtor who specialises in renting properties in Dubai. You will need to pay these specialists a percentage of the yearly lease, typically five percent, for them to place you in a flat. This can be well worth the cost as they will have photographs and demographic locations for you to choose from. If you know the area of Dubai you will be working at, a realtor can show you apartments in the same area as they are well versed in the city and the layout of the city. You will not need to do much leg work yourself if you allow a realtor to do this for you.

If you prefer to do most of the leg work when finding a flat or home to rent in Dubai, you can use the internet as a tool to aid you in finding apartments for rent in Dubai. If you search in your web browser for rental properties in Dubai, you will find results for forum boards and realtors that deal in Dubai rentals. Your best option in this instance is to go with the forums that specialise in out of country rentals. These are typically people who own properties that they are looking to lease and have posted them on the forum boards. You can post replies with any questions you may have regarding the property and then decide if the property is suited to you or not. This is a great tool and will typically save you realtor fees as the homes are owned by those who post them.

When renting an apartment you should also consider obvious things like location. The things to consider is distance from parks, the city and shopping centres, the beach and your job. I cannot provide exact advice in this matter because it depends on what is more important for you.

For example if you work in Media or Internet City it is not a good idea to have an apartment in Bur Dubai or Deirah because you will spend more than 4 hours per day only driving to your job and back. These precious hours can be very well spent on fine Dubai beaches with your family. Instead it is a better idea to rent an apartment in “the Gardens” or “the Greens” regions, which are both very close to Dubai Internet and Media city. At least you can look for apartments on the Jumeirah road it will be closer to both your work and beaches.

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Mobiles home for rent are different thing from other types of homes for rent although they offer the same flexibility to your pocket and your lifestyle. You don’t only rent the mobile home but you will also have to pay for the rent of the land where it stand, though there are some mobiles home for rent that have been fixed to the ground that you will have to pay only one rent. This is one particular thing that you must look into the rental schemes of mobile homes.

In addition, you should know what are that other charges you should pay. Waste disposal service fee, security fee will apply if your rented mobile home is located in a park that include security service, and other kinds of services like snowplowing your front lawn have fees that you should be aware of. Obviously, the owners will pass it to you since you will be the one who will benefit from such services.

When considering mobiles home for rent, check the necessary details such as pipes, heaters or air conditioners, baths, sinks, ceilings, doors, walls, floors, etc. You should also consider the age of the mobile home you will be renting. The older your mobile home the more chances that trouble will arise, but there are some exemption of older ones that were fixed up to meet current building codes and standards. Check everything form top to bottom. You have nothing to lose if you do this.

You should be aware that it is not easy to have rental insurance in renting mobile homes. Keep looking for an insurance company which will give you a rental insurance that have a low rate, since renting a mobile home has rental insurance rate that is higher than those offered in renting an apartment or a house.

There are mobile parks that offer a space for you garage and some are not. Ask the owner if adding a garage in your rented mobile home will violate a certain mobile park’s regulation. It is also advisable that you enquire with the mobile park’s rules through the park manager. To know and abide to these rules will make you a responsible part of the mobile park community.

Mobiles home for rent is the best offer you can have for your starting family. Even the number of retired couples living in mobile homes is increasing for the past previous years. Just consider the tips above before you rent one. You don’t like to be spending much time and money in a home you are not satisfied.

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