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Describing The Role Of An Estate Agent

November 6th, 2018 Comments off

Theoretically, estate agents assist buyers and sellers to buy or sell their property. Sometimes you hate them and sometimes you love them for their role of trading. However, it is a fact that they are the major part for buying or selling any product in UK. The specific role of an estate agent is mentioned below.

Firstly, the estate agent estimates the correct price of your property. They are very well versed with the market situation and they do update their evaluations from time to time. Based on this information, they tell you the value of your property. The evaluators are usually qualified from the Royal Institute of Chartered Surveyors or from the National Association of Estate Agents. The agents try to fix the value at very minimum so that they could attract the maximum number of buyers. Nevertheless, when you are a buyer they will tell high price and they will reduce it during negotiations.

Secondly, the role of an estate agent is to present your property properly to the buyers. Therefore, you can emphasise on the strong points about your property for the estate agent to tell the buyers. This would certainly assist them to describe your property in a better way to the potential customers.

The third function of an estate agent is to advertise your property. The quality and placement of these advertisements are important. Estate agents will advertise your property in the local papers, on their websites and on promotional brochures and listings.

They will also go to your property to show it to the potential customer. There are some lazy agents and some active agents. The lazy agents wait for the customers to come to them and the other type goes to customer to sell your property.

The estate agents have to manage the total selling process. They have to go through all the legal documentations once a property has been sold. They have to do a lot of work for you. The active kind of estate agents honestly tries to assist sellers and buyers.

It is in your own benefit that you tell the major and key points of your property to the estate agency. It is a morally good act not to call the estate agent to visit your property vaguely. However, you can call them when it is necessary.

All these points have to be discussed with the estate agent, as he will be showing the house to the potential buyers and negotiate with them.

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Advantages Of Using A Letting Agency

August 22nd, 2018 Comments off

Getting a residence is not a simple decision, even for those who have a lot of money. Unluckily, most of the citizens do not have sufficient funds to even consider buying a house. Housing prices, in spite of the current recession, have not dropped to such a level that everyone can afford to buy one. The majority people have no other alternative but to rent a house.

Although getting a home on rent is not as hard as compared to buying one, an adequate amount of difficulties can build a normal person totally disheartened from the entire process. The major hurdle is to get a house that suits the requirement of a specific family.

Next significant factor is the monthly rent and the locality of the home. As per the most significant feature of renting a house, one has to establish the needs of their family. If they are a large family of around eight to nine people, they would need a minimum of a double storey residence with three bedrooms. A small family unit of three people, on the other side, can survive with no trouble in a one-bedroom apartment.

It’s difficult to find a house with reasonable rent, especially if someone wants to live close to the High street, as houses are more expensive there. High Street houses are more in demand as they have lots of shops in access.

It is normally not easy for someone to find a house near High street with a good deal; the reason being, a common man does not know much about letting business and can be easily fooled by dealers. They may end up in living at a compromised location or end up paying far more than actual worth of the house.

The wisest way to deal with this situation is by using a certified and well known letting agency. These agencies have the key business of serving citizens in renting homes at reasonable prices and at good localities.

The fundamental work of a letting agency is to get houses that are available on rent, and catalogue them with their construction, locality, features, facilities, and total property price. They liaise with the landowners and assist them in renting out their residences. In the same way, they provide this information to prospective tenants and give them all the particulars. Letting agencies take a small amount of charges from both service users for this facilitation of services.

The most important advantage of subscribing with a letting agency is that the prospective tenants have to face less amount of hassle in finding a residence. One does not even have to go in order to inspect the houses since one can see their videos and photographs present in the catalogue of the agencies. Prospective tenant only visits a house if it suits the necessities and is up to the mark. The letting agencies also arrange for the trip to examine the house and offer a detailed visit to assist the tenants in reaching a conclusion.

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Benefits Of A Tenancy Agreement

June 13th, 2018 Comments off

Once the owner and the tenant come to a mutual decision, they have to sign an important piece of agreement, which is known as the Tenancy Contract. The Tenancy Contract is the pact signed by both parties, one being the tenant and the other being the owner of the property. This document allows the tenant to stay at the property of the owner and gives the owner the right to receive the payment for letting the tenant to reside at his property.

The Tenancy Agreement is simply for the facility of both the groups, so that no clashes or issues arise after the property is rented. It can be both in written or oral form. However, the oral agreement can cause problems afterwards, as there is no evidence of it. Hence, the written contract should always be preferred to have a written record and proof of the whole agreement. The written agreement makes it easy for you to gain your rights by approaching law, if such a requirement is arisen.

The Tenancy Agreement should be in accordance with the country law. It must privilege you with your statutory rights; otherwise, it becomes ineffective. Through this agreement, both the landlord and the tenant are liable to some privileges, and bound by some errands.

It is very important that the agreement have a clear mention of all the details point wise with the signature of the tenant as well as the owner. The presence of a person providing guarantee, that is a third person, is very vital. He has to assure that all payments and dues are dealt with as per the tenancy agreement. The duration of the tenancy, with starting and ending dates, should be mentioned in the contract.

The payment that the tenant has to submit to the owner, has to be stated in both words, as well as numbers next to the agreed due date for the payments. The owner of the property will then give a written testimonial about the security deposit that he has the right to keep till the tenure of the tenancy. Even the amount of the security deposit has to be in words as well as in numbers.

Even the system of the payments should be clearly mentioned in the tenancy contract for future reference, which will state the way the rent will be paid to the owner; either directly, by the state agent, by mail, cash in hand or by signing a cheque. This will be a written proof holding all the details of the payments.

The tenancy contract will also comprise of minute details such as the responsibility of the tenant to pay off all the bills of the facilities he uses, such as electricity, water, gas, along with the fees of reconnection of any facility (if required), television license fee and others. It should be clearly mentioned in the contract that the tenant is bound to take care of the house and only use it for residential purpose. On the other hand, it should also mention the duty of the owner to pay for all the maintenance and repairs, pay the taxes as well the details of the insurance of the property.

The tenancy contract proves to be a record of all mutual agreements decided by both parties, and hence, they are bound to abide by it in order to avoid any disputes.

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How To Take The Stress Out Of Finding A Flat To Rent?

September 26th, 2016 Comments off

Finding a new home for living can be a wearisome and time consuming process. Firstly, the hunt process begins and afterwards, the course of selection among a number of properties begins. There are several ways that can help you in finding flats or houses for rent, and by utilising them you can lessen your tension to a greater extent temporarily.

There are essentially a lot of ways in which you can begin your hunt which are relatively useful and simple. If you want to have an excellent and successful finding procedure for a flat for rent, message boards and the Internet are great places to start with the whole thing. On the other hand, the primary step must be to consider your requirement, jot down them on a paper, and then start the search. It will help you to be precise in your search.

Doing this and starting with these sources helps you in attaining a reasonably good idea about the cost trends existing in the market. It also helps to have an insight in to the market development.

Another option is to confer with an estate agent. Once more, you have many choices in the matter as each estate agent has a bit unique on his list. Hence, you can save yourself from the tiring job of looking for a home that fulfils your necessity. Your requirements concerning the property are obtained mainly through a form, online or otherwise, so that you can identify the kind of property you’re looking for.

This variety of system not only reduces the anxiety levels for you, but also lets you have the accurate kind of flat for yourself, or the next possible accessible option according to your requirements. You also don’t have to be concerned about the finances, as you are inquired about your budget limit. Then the home is selected keeping your budget limit in view.

Checking the accommodation section in the newspapers can also be of use, as it will tell you about the on hand lodging facilities. Whenever you are planning to find a flat for renting, you should come up with a carefully worked out budget so that you are able to narrow down your options based on the budget.

When deciding the total budget, it is necessary that you think not only about the rent of the flat but also other factors and costs such as utility expenses that you will have to make. If these costs are not taken into account at the start, they are likely to stretch your budget.

It is good to get all details about the property you are going to take on rent. This will save you from inconvenience in future. Asking about how long you can stay in the flat and whether or not you can re-rent is also vital. You should also make inquiries regarding the furniture, if any in the flat and how to operate other appliances and equipment.

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Technicalities Of The Renting Market

January 18th, 2012 Comments off

The economy of the entire world is gradually ceding back due to which more and more people are planning to make their economic conditions a bit constant. The declining economy is badly affecting the property owner as well. The UK is greatly stirred by the worsening economy. People are now searching for extraordinary ways to cope with the financial turmoil.

Homeowners, distressed with such crisis, find no way except to lease out their property. Now, those having extra houses can attain financial stability by renting them out, while the people who do not have any extra house are unfortunately in loss. They cannot help themselves out of the crisis.

The value of a property, whether residential or commercial, is of prime importance in the rental market. Commercial properties always fetch higher prices as they can be rented out to multiple tenants, and can be used for trade activities. Residential properties, on the other hand, have to be rented out to single tenants in most cases, except for an apartment building. Value of residential property also depends upon the location of the neighbourhood and distance from the city centre. If a property is located in the city centre or closer, the rates will be higher. Similarly, areas with a good reputation and posh locality are considered gold mines in the residential rental market.

Other than the site of the property, the construction factor is also very important. People prefer living in well-constructed and splendid houses. One should consider the structural aspect of the house while buying or renting. These days, people are more thoughtful about residing in the houses having extraordinary interior designing.

Apart from the locality of the property, the condition and construction plays an important role in determining its rental value. The construction of a property will never be out of consideration to the property dealers or the homebuyers. Similarly, tenants also take into account the construction of the house and its interior design. Properties with poor construction or bad design will not fetch a high price in the market, and are considered out of the contemporary rental market. They might get rented out but the aggregate rent will be much lower than a house of similar size with a better design; people like to stay in better homes, and may only stay in an old fashioned house if they are facing a financial crunch.

Utilities

Utilities have always been of prime importance in the rental market, and they will always maintain their significance. The extra focus on utilities, that was once considered a preliminary factor in the rental market, is no more considered to be of high importance in the rental market. Tenants now prefer to install their own internet and telephone connection and do not want to have an already installed connection. In fact, many tenants now favour a house that does not have a gas connection as they are wary of the gas bills. Instead, they install electrical ovens and heating system. It all depends on the choice of a tenant, but we can say that modern rental market has become quite aggressive in this regard. The rental value of a home can get lower in case the landlords are not eager to satisfy the needs of the tenants.

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