Month: September 2017

Five Things Every Condominium Manager Should Know

When it comes to managing condominiums, there are several areas where every manager could improve. Also, novices should have a chance to learn the easy way about various homeowners association management techniques before getting caught up in rookie mistakes and having to learn the hard way. Condominium association management is not easy; however, it will be much easier with these five pieces of information that every condominium manager should know that are listed below.

First, it’s important to reduce as much liability as possible in as many areas as possible. Liability is a naughty word when it comes to condominium management. So the next time a contractor is hired to do any job on the property, it’s a good idea to reduce liability for any negligence on behalf of the contractor by giving as little direction as possible. Little amount of interaction between the manager and the contractor is best. That way, any issues that may arise will not be blamed on the manager but rather the contractor.

When it comes to negotiation tactics with the contractor in question, it’s important to negotiate hard. After all, the association deserves to be protected from unscrupulous contractors regarding payment and outcome of services. That’s why it’s important to get a bond and insist upon progress payments. Those who pay before services are rendered are those who will end up with a splitting headache as they try to get the services they already paid for taken care of.

Something that seems very straightforward and relatively simple is the contract. Simply put – read it. Those who do not read the contract for anything having to do with the condominium association are those who are putting the association at risk. Contracts are designed to clear up miscommunications; however, if they are not read in depth before the agreement is settled upon, a condominium association could end up in a whole world of trouble.

It’s important to use the contract for whatever services the condominium association is in need of to demand favorable contract terms. These legal documents can be used not only to protect people from unfortunate situations but also to demand favorable terms. It’s a very useful negotiation tool so use it to negotiate.

Remember also that it’s a buyer’s market. This means everything that can be done should be done in order to make the condominium attractive. The customer is always right – mostly because there’s always another complex that will stand by that sentiment. Remember that anyone can catch more bees with honey than with vinegar and the same is true for increasing occupancy in a condominium complex.

Sukhumvit Condominium Projects Continue Unabated

Bangkoks property market shows no signs of slowing down in terms of new construction of condominiums as projects along Sukhumvit Road, a top Skytrain route, continue to be launched. The route from the Phloenchit intersection to Sukhumvit Soi 55 or Thonglor is seeing high competition among property developers as they have launched condominium projects worth more than Bt100 billion, with more than 10,000 units.

Since last year nearly 100 projects have been launched in the area by both listed and non-listed property firms. Construction will be complete between the end of this year and 2013, according to a survey by The Nation newspaper last week. Examples are The Clover Thonglor, Le Lux & Sky Walk condominium, Ivy Thonglor, The Trendy Condominium, Noble Phloenchit, Ideo Morph 38, and Aequa.

Condominiums along this route are priced between Bt80,000 and Bt200,000 per square metre.

Luxury residences priced at over 150,000 baht ($5,000) per square metre are located between the Phloenchit intersection and the top of Sukhumvit Road between Sois 1 and 10. From Soi 10 to Soi 55, prices range between 80,000 and 150,000 baht per square metre.

One-bedroom units with a total space of 45-60 square metres are the most popular in this location.

Noble Development president Thongchai Busrapan said that after bookings for Noble Ploenchit opened from June 19-22, the company achieved presales worth Bt7.2 billion, or half of the total project value of Bt14 billion.

“Although this location has high competition, our project is freehold, which is difficult to find in this area, where most projects are for long-leasehold contracts,” he said.

Demand in this location is sufficient to absorb the high number of condominium launches, according to a survey by the Real Estate Information Centre. Since the Skytrain opened in 1999 the whole Sukhumvit area has grown quickly in terms of high-end condominiums and also serviced apartments and hotels. In addition to the condominium projects under construction there are also several five-star hotel currently being built on Sukhumvit Road.

In 2011, the total number of residential units available for sale in Bangkok was 130,282 which included single houses, semi-detached houses, townhouses, condominium units, commercial buildings and land allocated for housing. These projects were not sold out and currently have no problems but at the time of the survey the total units had not been sold and most of the residential projects were only launched shortly before the survey.

Growing demand in this area from both local and foreign buyers who live in Bangkok has driven condominium prices 10-20 per cent higher than their presale prices, depending on how close they are to Skytrain. For example, Ficus Lane on Sukhumvit 44/1, which was priced at 50,000 baht per square metre when introduced in 2005, now sells for 110,000 baht per square metre.

Condominiums on Soi Thonglor that recorded presale prices of about 100,000 baht per square metre now go for more than 120,000 baht per square metre. Condominiums on Soi Ruamrudee priced at 40,000 baht per square metre five years ago have now recently recorded sales at Bt120,000 per square metre.

Mortgage Meaning. What Is A Mortgage

We hear the word all over. A couple of years ago, they were being signed like they were going out of fashion; a large mortgage was akin to a large salary at the end of month. But the times have changed and in Dave Ramsey’s words, the paid-off home mortgage has taken the place of the BMW as the status symbol of choice.

But, what does exactly mean? The word ‘mortgage’ comes from the Old French and Latin. In Latin, mori (turned into the mort- part in ‘mortgage’ in Old French) means ‘death’ and -gage means ‘pledge’. Thus the words: ‘death pledge’.

The word mortgage comes from the Old French and Latin. In Latin, mori (turned into the mort- part in mortgage in Old French) means death and -gage means pledge. Thus the words: death pledge.

I can see how, hundreds of years ago, taking on a 30 year mortgage was comparable to signing yourself into bondage for life. As Earl Wilson correctly put it, if you think nobody cares about you try missing a couple of mortgage payments. Thats the ultimate Litmus test for love.

Funny words aside, etymologically, mortgage means that the pledge dies either when the obligation is fulfilled or when payment fails and the property is repossessed.

Interestingly, the French use mutated back into hypothque, derived from the classic Greek and meaning to put something under something else.

In some countries, like France and Spain where they have a civil-law system, a mortgage is closely or even solely related to a loan against real estate or property whereas in common-law, it represents any device in which a debtor (mortgagor) conveys an interest in property to a creditor (mortgagee) as security for the payment of a money debt. The Anglo-American definition has a broader meaning than its civil-law cousin, the hypothec.

The Top Notch Real Estate Companies India

The booming property market of India proves the rapid growth of the real estate companies India. The realty companies of India are involved in varied activities ranging from infrastructure development, residential complex, commercial real estate to retail space development.

The favorable government policies are one of the major reasons behind the growing real estate companies India. The government approves of 100 % FDI encouraging people from all across the globe to invest in India. Let us take a look at few of the major real estate companies.

Major Real Estate Companies India

Ambuja Realty Group The company is a joint venture organization between Ambuja Housing and Urban Infrastructure Company Limited and West Bengal Housing Board. The objective of the company is to develop affordable homes with strong base and close nature.

DLF The developer is considered to the be biggest builders of India. The first project developed by the company was on the very heart of Delhi. It is a trend setter in the industry. Much of the credit for changing Gurgaon urban landscape goes to DLF.

Sun City Projects It is one of the leading companies in India. The company has till date involved into variety of projects ranging from group housing to townships to luxury apartments, shopping malls, complexes for office to amusement parks.

Merlin Group For the past three decades the company is active in the real estate sector. The builder has successfully developed townships, office buildings, shopping malls, clubs and office buildings in many cities like Kolkata, Ahmedabad and many such.

Mittal Builders The company has been into the real estate industry for the past 5 years. Unlike its counterparts, the main agenda of the company is to develop real estates. It has successfully carried out its development activities in cities like Mumbai, Bangalore, Pune, Secunderabad, Nagpur and many others.

K Raheja Constructions The construction company ranks among top 10 realtors of India. It was honored with Best Construction & Real Estate Sector Implementation. Raheja has built many projects in cities like NCR, Mumbai, Pune, Chennai, Bangalore and many such.

There are numerous other real estate companies India that are coming up with innovative commercial and residential projects, changing our very form of living.

Things To Consider Before Buying Property Online

Buy Bulgarian Properties online

Buying property is exciting but a stressful and expensive process. You work day and night, spend thriftily, make investments and take loans to buy your own chunk of dreamland. Nevertheless, it is imperative to keep certain things in mind before you buy a property. You may face good load of troubles but you should also know how to tackle them all. If you want to make your home buying experience easy and stress-free, you can always hire a professional real estate agent. If you are looking to buy Bulgarian Properties online, you should seek services of a professional real estate firm.

Analyze and Research

When you are searching a property, make sure that you do appropriate research. Count the number of real estate agents in your area and find out who is best service provider. Visiting each website helps you gather detailed information about the realtors and various properties that they are selling. There are customer reviews on every website that help you to find out authenticity of the website. Evaluate and analyze property details, images, size of property and type of property. Check out the procedure of purchasing. In addition, ensure that the real estate agent has a good reputation in market.

Pricing and Affordability

Some real estate agents also provide an option of financing that helps a customer in getting finance if he is anywhere short in making a full payment. You should primarily check the pricing details and then make your next move. If you find a property that suits your requirements, you can compare price on other sites too. Different companies offer deals and discounts to customers but you may also negotiate with the dealer to give you a concession. You should investigate about the presence of hidden costs as they can spoil your financial plan. If you want to buy Bulgarian Properties online, always keep in mind the affordability factor.

Services

Professional realtors provide several services like Comparative Market Analysis, facilitating a purchase, Total Market Overview, document preparation, real estate appraisal, exposure to property, home selling kits, property management, leasing, consultation, exchanging property, and prepare contracts. Make sure that your real estate agent you plan to hire is offering all these services. In order to confirm the things, you should make a call or email the officials for necessary information.

Goodwill of the firm

When choosing a real estate firm, you should always check for its reputation in the market. Make sure that the company has years of experience in the sale and purchase of properties and has a good customer base. Buy Bulgarian Properties online only from those realtors who are working under guidelines set by government of the state.

Useful List Of Real Estate Agents In Gurgaon

The real estate agents in Gurgaon are of great help for striking the right deal. Since Gurgaon realty market is flooded with options, one may get confused while searching for the best deal. In fact, agents play a vital role in expanding the property market in the city. Appointing real estate agents in Gurgaon would definitely lessen down your task, but be careful while selecting your agent. Else, you might fall in trap of fraud. So, always do a bit of research before you go ahead to hire an agent. Try to get in contact with the reputed real agents who are quite popular in the locality for offering effective real estate solutions.

The following are some reputed real estate agents in Gurgaon.

Reputed Real Estate Agents in Gurgaon

Anand Properties The Anand Properties is an ex-serviceman’s enterprise. The entity believes in offering reliable and transparent service by leasing or renting of commercial, industrial and retail outlet properties in and around Gurgaon.

Co-ordinators The Co-ordinators comprises of a team of professionals in the field of real estate management. The agent works by focussing on providing office spaces in the first growing new township of Gurgaon. Co-ordinators has presently a huge data base of office space options matching all kinds of corporate requirements.

Adrem Developers Pvt. Ldt Adrem Investment is perhaps the first choice for NRI investors. The enterprise selects individuals of high net worth to invest in real estate NCR. Within the past 10 years, the agent has been able to generate consistent returns.

Baweja Properties The Baweja properties has been dealing in Gurgaon since 1987. The agent deals with properties in sectors 21,22,23,23A including all sectors of HUDA, Gurgaon One, Palam Vihar, DLF, Sushant Lok and others.

Bharti Associate Since 1999, Bharti Associates has been operating in the real estate field. Over the years the real estate agent has undergone considerable growth though knowledge, services and commitment. Bharti Associates understands the local market well and actively takes part in formalizing all legal and commercial aspects so that the interests of the clients remain well secured.

There are several other real estate agents in Gurgaon who have attained great deal of popularity among their clients through their seamless realty services.

When renting a property, what does DSS stand for

It stands for Department of Social Security. It basically means that the landlord does not wish to accept tenants who are in receipt of benefits (i.e. Housing Benefit) from the government. This was the old name for the Dept. of Work and Pensions; and “No DSS” basically means that if you’re on the dole, don’t bother applying. If you do not receive Housing Benefit, are employed and can pay your own rent in full, it is unlikely to be a problem for you. Many landlords do not accept DSS. It is unfortunate, since not everyone that receives benefits is a ‘dole scrounger’. It’s actually quite ironic – since those who get their rent paid by the government are far more likely to pay in full and on time than some others who can supposedly afford the rent! The department of Social Security (DSS) is responsible for most of the help for people with disabilities. Responsibility for making policy lies with the DSS. This includes setting the framework of policy objectives and resources for the delivery and administration of social security benefits. Having trouble looking for dss properties? We source have landlords that will accept housing benift tenants all over london.hat will be your tenant for 1-25 years? Our company established in 2002 has assets, full set of company accounts, bank references and references from other landlords. We will guarantee rent will be paid every month on time without fail.DSS ACCEPTED is the new, quick and easy way to search online for all the latest DSS ACCEPTED property listings. In Dss accepted We guarantee property hand back in a similar condition subject to fair wear and tear and if you want to sell it, we will sell it for free with our partner agency. We can offer fully managed solutions or a custom solution whatever you want. This should be your one stop property investment shop. We can help with finding legal aid solicitors and fight rogue landlord. We will do all the serving of notices, court paperwork and instruct baliffs for free (courts and baliff costs separate). As long as you sign us up as a long term tenant on vacant possession. We will even pursue your old tenant for monies owing for free! Also we offer No Deposit, Flexible terms, No Agency fees, no renewal fees, no checking in/out fees,100% rent covered, Help with forms and tenancy, No Gaurentees, No References.