Wednesday 5 October 2011

Olympic Lettings and Accommodation

Especially in today's hard economic times, people are trying to make the most of every opportunity. One of the recently popular means is making the most of your home. Some of the most common means include
  • getting a lodger, as one of the more traditional initiatives,
  • mostly around London, renting out the driveways during the day,
  • allowing the homes to be used as a film set,
  • and allowing the homes to be used for the high profile sporting events, such as Wimbledon.
Homeowners have started the gold rush for the London Olympics 2012 as well. They are looking to profit from tourists or athletes by renting out their properties during the 2012 Games.

Everybody is betting on the assumption that the visitors and the athletes (as well as their families and coaches), are going to prefer the "homely" atmosphere of a private rental property compared to the non-personal environment of a hotel.

Several specialised property portals have mushroomed trying to make a fast buck out of the gold rush too.

Sarah Akkus, Managing Director of Appleton Estates, said "Maidenhead, and Windsor are two of the prime Olympic letting locations due to the high profile rowing event at the Dorney Lake. At Appleton Estate Agents Maidenhead, even before we started our London Olympic Rentals department, we got queries from overseas".

Don't forget to contact us @appletonestates or www.facebook.com/BerkshireProperty for any enquiries.
 

Tuesday 4 October 2011

Residential Property Rentals

Deciding to let or rent a property is a big decision—one that you don’t want to take lightly. As a property manager, you want to ensure that your tenants will be respectful of the space and will pay their rent on time; as a renter, you want to ensure that you’re dealing with an honest property manager who will properly maintain your rental and keep it in tip-top condition.

Tips for a Great Rental Experience

  • Understand supply & demand: In metropolitan areas, most properties operate on a 12-month lease period, which runs from September 1 to August 31. This is especially true in areas near colleges and schools. The closer to September 1 and the fall season, the higher the likelihood that landlords will be open to negotiation. However, there will also be fewer properties available, the longer you choose to wait.
  • Understand the jargon: Depending on your past experiences renting, you may come upon some new terms or rules in your lease. Understand the differences between leases (which are binding contracts) and tenancy at will, in which the tenant does not sign a lease but instead agrees to pay rent at a particular interval.It may help to take classes in real estate, contracts, or law. If you're looking for a good online class, we recommend this site as a resource: http://www.onlineclasses.net/
  • Know your rights: Watch out for unreasonable fees or required deposits. The amount a landlord can require from new tenants varies by state, but first month’s rent, last month’s rent, and a security deposit are usual.

Tips for a Great Letting Experience

  • Know your limits: Letting a property can be a great way to generate more income. While doing it yourself may save you money, you should be honest with yourself in deciding if you’re really willing to take on the responsibilities of maintaining a property and interacting with tenants. Those with business degrees or real estate training may be better equipped.
  • Choosing a property management company: While managing the property yourself will be tough, you also don’t want to find yourself allied with a shady property management firm. When deciding on a firm, ask for references, and learn exactly what services the company provides. Ask if they have around-the-clock maintenance services, if they are bonded and insured, and how they manage clients’ funds (if they are stored in individual accounts versus a large trust).
  • Keep accurate and thorough records: To greatly decrease your stress later on, keep separate and accurate financial records about your property rental from the beginning. This is useful for tax purposes and for estimating the financial gain you are getting from your rental.


Appleton Estate Agents Maidenhead provide residential property services.
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