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When you decide to invest in a property especially for residential one, safety is one of things you should put on your checklist. Buying a property or like a house for a family to live in means you need to means consider many things such as security, proximity, convenience, and many more. In the matter of security, it is important to investigate first about the neighborhood’s crime rate before you decide to buy a property. Nobody wants to live in a neighborhood where the crime rate is pretty high. Everyone expect for safety and comfort when it comes to a home to live in.

Investigating neighborhood’s crime rate before investing

Robbery, theft, trespasser, and many other types of crime are things that everyone want to avoid. Knowing how safe your local area is before investing is necessary whether you are going to pick a single-family house or second investment property. Here are reasons why knowing the neighborhood’s crime rate is important in searching property to invest in:

• Regardless of what kind of property you are going to buy, knowing the crime rate of its neighborhood is necessary because it is not only to ensure your safety but also the overall matter including your family and the people who are going to occupy the property in the future. It may seem a hassle to investigate or do some research about the crime rate before buying a property. However, you can research the most recent crime statistics for the area. You can even access the data online.
• You need to keep your belonging safe whether it is the property or the things inside. That’s why you need to make sure that the neighborhood of the property you are going to buy has lower crime rate. If you are unsure about the data you gain online, you can pay a visit to the neighborhood. Physical visit may ensure you better because then you can actually analyze the surrounding of the neighborhood. It is recommended to pay a visit both during weekdays or weekends so you can get more accurate perception of the neighborhood.
• By choosing low crime rate of the neighborhood where the property you are going to buy is, you can save dollars on your contents and home insurance. Remember that crime rates of the neighborhood will be taken into account by insurance providers. It is to determine future claims. If the crime rate is high, you will automatically needs to pay more for the premium.
• Knowing the state of the crime rate of the neighborhood, at least you will feel more relieved because then you will feel safer as well as the people who are going to occupy the property. To get better understanding about the neighborhood’s safety, you can also ask around the locals. You can pay a visit and speak to some locals casually in a coffee shop. If it is too awkward for you to do, you can ask the local real estate agent instead.

Renting out our property is one of the best investing strategies to take since you will get monthly payment steadily. However, it is not always as easy as it looks. One of the biggest challenges in renting out your property is choosing the right tenants.

It is not always about how on time a tenant can pay every month but also how they take care of your property and follow your rules as a landlord.

Allowing a pet to be in a rental property is quite rare. Most landlords prohibit tenants to bring any pet into the property due to various reasons. However, the trend of owning a pet is undeniable. Lots more people like having a pet.

Benefits of renting property to pet owners

Since the number of people owning pets keeps increasing, lots more landlords are more flexible about pet restriction in rental property.

However, it is not a must.

As a landlord, you can just keep your rules of no pet allowed in the property you own. However, there are also benefits by allowing your tenants to live with their pets where I can inform you in this post.

Those advantages are as below:

1. According to recent studies, pet-friendly properties rent faster. This makes sense since lots more people like having pets. It means the number of tenants who expect for pet-friendly housing is increasing as well. It means that you have better chance to rent out your property faster if you allow your tenants to bring in their pets.
2. Tenants owning pets are more willing to pay more rent as long as their pets are safe in the property. This means you have more chance to gain higher income than regular if you rent your property to pets owning tenants.
3. Tenants with pets tend to hold longer lease. It is known that it is still rare to find pet-friendly property. Therefore, tenants will be happier to hold longer lease in the place where they can live happily with their pets with no worry instead of searching for new place. Thus, you don’t have to experience vacancy for long if you have tenants with pets.
4. Renting out your property to pets owners means you can save your marketing budget. You can cut your advertising project since your pet owning tenants are more than willing to hold the lease longer.
5. Pet owning tenants can make better tenants than non-owning pets ones. Pet owners know exactly that it is hard to find pet-friendly housing. Thus, they choose to follow the rules so they don’t have to find another place to rent. Besides, pet owners tend to like everything organized and caring.
6. Pet owners consider their pet as part of family. Thus, they will make sure its hygiene, health, cleanliness, and entertainment. They tend to be more socially responsible due to their care for their pet. This way, you can avoid having problems with hidden pets that often happen when you own non-pet rental property to rent. This can cause you headache because you have to deal with it.

When it comes to choosing accommodation for your holiday in Bali, location is the first you need to consider. There are many popular places for long vacation including Ubud. There are affordable villa Ubud Bali low rent you can book so you won’t feel like being robbed by spending your time in Bali. Well, Ubud is popular because here you can find lots of attractions. In Ubud, you will find

Recommended villa Ubud Bali low rent to fit your budget

Travelling is important because there are many positive things you can gain from it. For example, you can release your stress due to daily overwork. You can also gain life lesson from travelling by learning more about other cultures different from yours. Travelling also teaches you independency. And of course, travelling is fun to do. Travelling in Bali is one of dreams of most travelers. If you are planning to spend your holiday in Bali, here are some recommended villas around Ubud you can book in advance:

• Villa San this is great villa especially if you bring your group of families or friends. This villa is also kid-friendly so there are amenities dedicated for the sake of your kids. This villa has 6 bedrooms to accommodate your stay in Bali. This villa applies open-air living style. There is also entertainment lounge to keep you and your kids entertained even when you stay in villa all day long. To keep you fit, there is gym so you can keep your weight during your holiday and stay healthy. Dedicated to your kids, there is playroom to keep them entertained. Not to mention the 25-metre pool for you to swim and have fun. The villa has in-house staff including professional chef.
• Villa Shinta Dewi is recommended for your stay in Bali. This is contemporary villa with in-house staffs available at your service. This villas consist of 4 bedrooms available in different size. It also has multiple living areas and two bales so you can even hold a small party inside. There is also barbeque terrace where you can invite guest to have a cocktail and barbeque party. Of course, this villa is also completed with a 16-metre pool. To keep your fitness during your holiday, you can use the gym. Thus, there is no reason to neglect your daily regime even when you are on vacation.
• Villa Alamanda is recommended villa Ubud Bali low rent to choose if you are craving for serene and peaceful environment during your holiday in Bali. This place has beautiful environment because it is surrounded by greens. If you are used to live in big city, you should try staying in this villa to experience different living. It is also designed to match with natural environment. This exclusive villa is best option for romantic getaway. It has four luxury bedrooms to give you the best living experience in Bali. It also has in-house staff to tend to your need. Thus, you don’t have to do grocery shopping or cooking your meals on your own.

Location is important part of property investing. Choosing the right property in the right location will contribute more to the success of your business. There are many types of location you can choose to invest in. some tenants prefer to live in the buzz of big city while some others choose to live in the outskirts. If you are going to buy a property, make sure to choose the right location. And what about property located on the main road?

Purchasing property located on the main road

Buying property for investment is a big deal. You cannot do it without purpose and plan. There are many promising areas where you can find ideal property. However, it is quite challenging in real life to find the right suburb and buy ideal property. You need to consider many things to examine whether or not the property is good for investment. One of essential point to consider is long term capital growth which connects to the location itself. Ideal suburb that performs long term capital growth at steady flow is what you need to aim for. Here are things you need to know before buying property located on the main road:

• Main road is not really ideal location for you to buy a property. Just imagine living in the main road where all the buzz of passing traffic is. It is hard to live peacefully in this type of location. Of course, the lack of wide open space force people to live on the main road. However, living on the main road means you have to deal with constant noise, excessive noise. It may be fine for tenants who live alone. However, this type of property is not ideal for families. Thus, property located on the main road is not ideal for investment.
• Another thing you should know about property on main road is it has greater risk of over-development. If you buy a property on the main road, there is high chance that its surroundings will be full of new developments. It is because the business grows. It will be easier for your property value to decrease instead of increase.
• Most people would mind living on the main road due to many reasons. It leads to marketing issues you may suffer if you buy property on the main road. It is hard to advertise main road properties on the listing which causes most agents are reluctant to do it. They need to inspect the properties in order to be able to explain many things to buyers.
• Main road is considered as secondary location. During slower times, it is even harder to sell properties on main road. It is possible for you to rent main road properties. However, it is often that tenants decide to move on as soon as the lease expires. In addition, main road properties have higher vacancy rates. Your long term goal as well as rental return will be affected if you decide to buy property located on the main road.

 

Home rental is a viable steady source of income that you may have considered when starting out in the real estate business. Setting goals are merely one of the tools that you need to do in order to run a sustainable rental business.

Have a business plan in place

Your business plan is created through setting clear goals achievable for you. Your first task as a rental business property owner is defining your very own personal goals. Remember to set goals or purposes that are important to you, instead of goals that are ‘merely big numbers’. Having a clear purpose can help set clear results that you can expect if you manage to attain your goals. This can be anything from paying off your car, building a pension profession, or make a steady, livable income from real estate properties.

Set measurable and attainable goals

Goals that can be measured is so much clearer, and therefore, more trackable. The trackable element is extremely important when it comes to the process attaining your goal. Having something you can track can be extremely motivating for you, especially when you’re just starting out.

Set your goals with a timeline in mind

Your goals must work hand in hand with the concept of a set of time in mind. Having this concept of a timeline will make it easier for you to take actions at the appropriate time. For example, you can set ‘pay off 2 rental properties from rental income in X years.’ It can go anywhere from the general vertical timeline to something more detailed. Make sure to set a realistic time for yourself.

Be flexible and be ready to adjust

Although some areas of real estate property yield relatively steady returns, things could change any time. It could be both a good thing or a bad thing. For example, if there is a new school going to be built in your rental area, then depending on your rental type, you may expect more value to your property. This may also mean more potential tenants for you. But the opposite may very well apply. In every area that is growing, there’s going to be some areas that see a decline in real estate. The state depends very much on the economy of an area as well. So make sure to continuously learn the state of the market and what may influence your rental value. And of course, always be ready to adjust your goals accordingly.

Profit is after any expenses you make maintaining your property

Over time, there’s a big possibility that you’re going to do some work to your property. It can be new landscaping, fixtures replacement, and many other things. There’s also the everyday minor changes such as fixing lights, plumbing, and other things. Do realistic budgeting based on these issues.

Have a learning mindset and realistic expectations

Having a learning mindset would help you in the long run. Cultivate this by continuously researching and updating your knowledge on the rental property market. The trend is often influenced by the fluctuating economy, among other things.

Becoming a landlord is one of the most common ways of starting out renting your property. It’s one of the business with a relatively steady income source as long as it’s well-managed.

So, where do you start?

Managing your expectation as a new business owner

Renting out your property is business. And just as with any businesses, having a realistic expectation of your returns and your business growth is extremely vital.

The best way to manage your expectations and also help you in pricing your rental property is by research. Take a look at similar listings in your area. Don’t be afraid to ask around other renters if you happen to know any.

Being a landlord is not a get-rich-quick scheme

If instant money is what you want out of this job, then you may be misled too far. Being a landlord takes time to make a live-able profit off of.

Unless you start big, which is not a viable option for most of us. Have a realistic expectation. Research the potential of the area that you’re going to start your rental property business in.

Are you looking for an extra buck or a stable income source?

Just as with any businesses, starting out would yield you small amounts of returns. Occupancy rate is likely going to be more sparse.

Even when you live in a very popular area for your target market, your type of listing is on high-demand and you priced it just right, it’s still a process.

How much time can you dedicate to your rental property business?

If you’re just getting started on becoming a landlord, then most likely you aren’t doing it full-time. Most landlords started out this way.

But simply because you’re doing this business on the side, does not mean that you don’t have to plan your time.

A lot of people made the mistake that “any time off full-time work is time to do my side business”. This approach will make you end up juggling too much without any much-needed rest in your day to day life.

Planning is an absolutely necessary step

A business plan is a backbone of any businesses. Start by defining your goals. Be realistic about it. Achieve this by doing your research about the all-encompassing aspect of your rental property business first.

Get a good system in place

Know that there is always going to be trial and error.

First off, you need to define your goals. What do you want to achieve? Is what you want to achieve in the realm of being realistic? But most importantly, after you set those goals, you need to have a good, working, and sustainable system in place in order for your business to strive.

Setting up a dedicated bank account for your rental business would make it so much easier to track the progress of your business.

Not to mention, not getting your personal finance mixed with your business expenses is wise. Set up a dedicated bank account as early as possible. You also need to choose what’s the best.