Business & Property

The importance of Property Insurance for Your Real estate Business

Insurance is something that has become more and more familiar. There are many things you can insure include your property. As owner, you must realize that your property is your asset which is valuable and need something to protect its value from going down due to unexpected incidents. Thus, property insurance has become an important part of property business these days. It is important for property owner to feel safe for their properties so they can own, rent, or sell the properties in the future without so much hassle.

Benefits of having property insurance

Not everyone believes in the benefit of insurance. However, the choice is yours. There is no obligation that you should insure your property. However, there are possible risks to happen in the future which you can’t calculate and the damage can possible be covered by insurance. It is important for you to think about it before deciding whether or not you need insurance for your property. Here is information of the role of property insurance:

  • Natural phenomena are something unpredictable. Once it happens, you can’t avoid them. Hurricanes, tornados, flood, earthquakes are examples of natural phenomena which may happen anytime without warning. Those natural phenomena may result in horrible state to your property. If the damage not cause to expensive budget you may have no worry. However, it is different case when the damage requires expensive fixing. Thus, you will be thankful if you have insurance to cover the expense of fixing your property.
  • There is possibility that the tenant or your property get into accidents during their renting period. There is none to suffer from the consequences but you, as the owner. If you benefit from your property insurance, you can avoid financial cost to cover the hospital bills of the victim’s. This type of incident can be prevented but not entirely. You will never know when such hazard comes.

Choosing the right property insurance

  • Before deciding to buy property insurance, you need to inform yourself about all the benefits and aspects. Thus, you will know what type of insurance you are going to buy. Make sure that the insurance you choose cover everything you need. Each property insurance type offer different coverage so you need to choose wise. Make sure that you get information in details so that you know exactly what you need.
  • It is also essential to choose professional and trusted property insurance company. The professional one will inform you everything you need without hiding anything. They will help you find the most suitable insurance to make sure that your property has the best coverage. You can find the best company by asking from your friend’s recommendation or search yourself online.
  • You also need to know that each coverage cost differently. The method of payment is also varied. Thus, choose the type of coverage you can afford and pick payment method that you are comfortable with. Plan your finance so property insurance won’t ruin your financial management.

What You Need to Do in Property Open House

If you are going to rent a house either for residency or business, you will go through the open house process. In property open house, it is better if you are escorted by a property so you wander around aimlessly. You need to hire property agent who represent the buyer or renter since you are going to rent not sell. Choosing a house to rent is challenging because you need to meet your personal needs above everything else.

Property open house

Even your agent need to make sure that the house you are going to rent is what you are really searching for. You don’t have to go too far with the inspection. You just need to pay attention on your simple checklist.

Things to pay attention to when attending property open house

Even though you are escorted by your property broker or agent, you still need to know what to do with yourself. You need to know what you really want since it’s you who are going to use the house. It is recommended that you do your own inspection during the open house. Here are what you need to consider when you attend the open house along with your property agent:

  1. Make sure that the safety of the house is well protected. You have to inspect the security system of the house. You can check important point such as window locks, deadlocks, as well as other security features. This feature impact directly to the deal you are going to agree later if you are positive to rent the house. Either the impact is positive or negative it depends on the security level of the house and your standard.
  2. You need to pay attention on the space when attending property open house. Think of whether or not the house will fit in your storage. You need to make sure that your things from previous house will safely fit in the house. Make sure that the space will bring you comfort when you decide to move in.
  3. Make sure that the house is clean. Choosing clean house will impact your health and your family’s. If you find any junks then you need to reconsider renting the house. If the mess is fixable then you ask the owner if it can be fixed before you decide to rent the house and move in.
  4. Check the ventilation system. For the sake of your healthy and comfortable living, it is important to inspect. Proper ventilation system results in better air circulation in the house. If there is problem with the ventilation system then you can ask directly the owner and find the solution.
  5. Not only the interior of the house should you inspect but also the exterior. Make sure that you are satisfied with the exterior as well as you are with the interior. Ask the owner if you can adjust the exterior to your liking. Check the car parking area to see if its security system is well protected. That’s how you do when attending property open house.

What You Need to Know About Property Development

Property business is widely ranged into different branches and categories. One of them is property development all is also called real estate development. This is business process involving necessary activities such as renovation, re-lease the existing buildings, or buy raw land in order to sell it to gain more profit later on. In these activities, the one who is responsible is called as property developer. They can work in person or in team. If the business grows well, there is possibility to start building real property development company.

However, it is also common for people to mistaken property development as construction because it’s not the main idea of this term. Property developers do the process of construction but it is not the main activity and only part of various processes within. You must be curious of why choose this path of career in property business. Well, here are some reasons on why this business is promising:

  • The main goal of this business is to get money. However, this business is also a way for you to save money. Since your project could cost 20% below the market and the profit is promising.
  • You will get better return for the rental and this is good news because then you will be able to to pay the mortgage.
  • This is a better choice if you aim for easier finance since it provides better leverage.
  • The tax benefit of this business is great especially from new property.

What to do in property development?

If you have decided that this business is promising to get you better future, then you need to figure out next actions to take. Here are some tips for your easier starter:

  • You will need to talk and ask for help from important people. You can call as team member. Those are real estate broker, finance planner, lawyers, accountants, architects, engineer, building contractors, marketing planner, project manager, and construction manager. Those are absolute members you will need to run this business.
  • Make a clear finance limit so you know exactly how much you can afford to invest in development project. You need also find a way to get your finance. You may need to contact banks or lenders.
  • Next step is to find ideal property. To get this right, location is always the first priority. The better the location, the greater the profit you could get. You need to set your target as well. For example, you set family as your target so you will consider building more bedrooms to accommodate their needs.
  • The next step is the most challenging because you will get to the real action started from purchasing the property to completion of the development process. This requires many steps but if you do them right then you won’t face any hassle.

The next step of doing property development is to decide your completed development property either to sell it to get higher profit or hold it on as your investment.

What You Need to Know When Working With Real Estate Agent

For those who have no relation or experience to property business may have difficulties understanding some procedure of buying or selling properties. Thus, it is helpful to understand more about working with real estate agent. There lots of occasion when agent are offended by their clients because the cross the line. However, it is also understandable because not everyone is aware of real estate etiquette.

If you are going to hire real estate agent, it is better for you to know how to work with them so your business will go smoothly without clash or misunderstanding.

  • Real estate agent work independently which means they do not work for public service. Don’t expect them to work for free. They usually work on commission. When they close the deal, they get paid.
  • Real estate agents usually work for more than one client so they tend to be busy. Thus, make sure that you make appointment to be valuable and worth the time. Respect their schedule and don’t be rude by cancelling the appointment or reschedule it on your own. Inform them if you’re going to come late or cancel beforehand.
  • It is important to choose the right agent and not the best one. It is necessary to have interview session if you choose to working with real estate agent. Make sure to choose agent who is capable in their job as well as comfortable to work with.
  • Understand that agent has their own specialties. There are agents who work specifically for the seller and called as listing agent. If you are going to sell your properties, hire listing agent. If you are buying property, hire buying agent. There is also dual agent but most people choose to hire agent for specific task either to help selling or buying property because the possibility of conflicting interest is higher for hiring dual agent.
  • If you hire real estate agent to buy property like house, it is better to ask for their escort when it comes to attending open house. It is highly recommended that you let your agent do the job of asking important questions to the seller or their representative. You agent know what to ask and not to ask so you will be on the benefited side.
  • Make sure that you understand the contract before you sign it. Ask your agent about everything you need to know such as contract releasing rules, etc. By signing a contract with your agent, you both have your goals to be respected.
  • It is recommended to ask for agency disclosure if you are a buyer. Then, always inform your agent about everything you need or how you want them to communicate with you. Don’t hesitate to express your displeasure if you experience it.
  • Make sure that you hire real estate agent because you are ready. For example, don’t hire and sign up a contract with real estate agent if you are not ready to buy or sell property. That’s how working with real estate agent supposed to be.  

Understanding What a Real Estate Broker is

When you run a business in property such as real estate business, you will need to fill in your knowledge properly including know what a real estate broker is. Whether you are as an investor or developer of real estate business, you need to understand the role of the broker. Some people are always mistaken real estate broker as agent. In reality, it is safe to say that broker is a higher level an agent. To be an agent of real estate business, you are not necessarily required to be educationally qualified. Meanwhile, a broker has more education even though few of them choose not to.

Real estate broker

What you need to know about real estate broker

Knowing fully what real estate broker is can be beneficial whether you are going to interact or becoming one. Basically, broker of real estate is a person who acts as a bridge between the buyers and sellers. Completing the transaction or deal is their mission. Sometimes, it is hard to find ideal property sellers or buyers. With the existence of a broker, the findings can be a lot easier. Buyers can rely on a broker to find ideal property to buy. Sellers will find ideal buyers so the seller earns the best deals. Thus, the role of real estate broker is beneficial both for the buyer and the seller since they stand in the middle to facilitate the transaction to the most ideal deal.

The requirement to become a real estate broker is different from one country to another. Some country require formal degree of education to become legal broker and some countries don’t do the same practice. The difference also include in liability, obligations, actions, and power. Each country has its own rule about marketing approaches of property. For example, to become a broker in United States, you are required to be licensed by the state and not by the federal government. The term is also different in some countries. For example, you can call them real estate broker but in United States, you call them listing brokers or listing agents.

Even though broker is beneficial for both sellers and buyers, there are broker who work to specified side. For example, a broker who acts as buyer’s agent will assist buyers throughout the buying process started from finding ideal property to gain lowest price under the best terms. Meanwhile, broker who act as seller’s agent help them to find potential buyers and gain the best interest so they get the best profit. It is also possible for a broker to work for both sides and they are called as dual agency. However, this can be a lot challenging for a broker since it requires balance dedication to meet the most ideal terms for both parties.

If you need a service from a real estate broker whether to find ideal property to buy or to sell, it is the best to hire licensed and experience broker. Thus, make sure that you choose the one who provide conventional full-service and professional relationship for the best transaction.

Tips To Choose the Right Property Broker

Running a property business means you will interact and make transaction with other parties. Making the most ideal deal can be thrilling and challenging both for sellers or buyers. That’s why it is essential to know how to choose the right property broker. Either seller or buyer can actually work on their own to buy and sell their properties. However, the process can be quite handful to handle. That’s why working with a broker or agent can be helpful. Since there are lots of brokers, it is also challenging to find the one who is trustworthy, reliable and professional at the same time. However, it’s worth it if you can find the best broker to work with.

Choose the right property broker through right selection process

To help you choose the right broker, there are some advices from the experts that I have written down below.

Choose the right property broker

The first one will be choose a property broker who is good at negotiating and talking. Some people may choose experience over skills. However, you can also rely on skillful person. Since a broker’s main duty is to negotiate and make the best term, you need someone who is good at that skills. It is great if you can find someone who is skilled and experienced at the same time but if you have to choose one, skilled broker is highly recommended.

It is easy to do a little research to find the best broker. However, seeking referrals from other homeowners can be more helpful since it is closer to reality. You can ask property owners around your neighborhood about their experience in working with a broker and see if they have someone in mind to recommend.

Aside from professional traits such as skillful and professional, it is also important to choose a broker from their personality. It is recommended to choose broker who owns passions, honesty and trust. You can analyze those traits by reviewing their previous works. You just need to ask their listing website, materials, signage, etc. Their works can reflect their passion and dedication on their job which is beneficial for you.

Find out if the broker works independently or in team. Broker who works in team usually has more service to offer. It is actually not an issue you should worry about. However, make sure that either they work in team or independently, they work with adequate support in which they provide you the best service and logistics.
Instead of working with a broker who is good at sweet talking, it is better to choose the one who is blunt and realistic. Honest broker will not hesitate to tell you everything. They won’t try to flatter you with empty promises but realistic situation. Honest broker is preferred so you will be informed about the risk of the transaction so you can make the best decision.

Last but not least, choose the right property broker who is comfortable to talk to. Communication is a key for transaction especially in this business. Besides, you will need regular talking with broker to discuss about your target, property condition, agreement, etc.

Find Out Reasons to Hire Property Broker

When you run a property business, you will get to know that property broker has significant role in the industry. Either sellers or buyers can practically hire professional broker to make the best terms. However, some people are not quite convinced to work with a broker. You may also need some reasons to hire property broker to sell or buy property. Basically, there is no obligation or law which forces you to work with a property broker. However, their role can be significant for your business since their main mission is to goal the best transaction and most ideal deal. Besides, it is not easy to find potential buyers or sellers as well.

Knowing the reasons to hire property broker to sell your properties

Real estate transaction is not something you can take lightly. It is a series transaction involving sellers and buyers as well valuable assets. Some people choose not to hire a property broker to save commission rates at some points. However, it’s highly possible that they end up spending more for going solo. Since property transaction is a major financial, hiring a property broker can be a great help either for buyer or seller. If you are struggling to find the reasons why you need to work with a broker, here they are:

  • Property brokers provide you better access since they have ability and logistics to track down what you need. For example, when you need to buy a property to invest in, it will take times in finding out potential properties to choose. Meanwhile, property broker will do the job for you and provide the listings so you just need to choose the most ideal one. Hiring a broker means you can save your precious time in the process.
  • The reason why you need to hire property broker is because the transaction requires negotiation. Not all people either sellers or buyers are good at negotiation. One of the most prominent skills of a broker is negotiation. They are good at that and they can deal with different types of people. Thus, they can help you to negotiate reasonably to earn the best deal.
  • Handling a contract and agreement of property transaction can be a quite hassle. Contract is important for the transaction because it needs to include some conditions. The contract is also meant to protect you so you need professional who know exactly what conditions to make and contract to handle.
  • Working with a broker is also more convenient since they can’t lie. They work based on trust with their clients, especially when you hire licensed broker. If they lie, their clients will be able to recourse. Their work is based on referrals as well as repeat cycle. Meanwhile, the risk of lying-based transaction is higher in direct negotiation between sellers and buyers.

If you find the reason why you need to hire property broker, make sure that you choose the licensed one who is also honest and trustworthy. Make sure you choose the right broker through the right selection process.

Why The Value of Bali Property Indonesia So Rocket?

Property is a smart and wise way of seeing quick profits. Indonesia is one of the countries targeted by world investors. Several major cities such as Jakarta, Bali, Bandung, and several other places attract investors. Bali property Indonesia one that attracts foreign and domestic investors.

Don’t Think Twice And Get Benefits

The needs of homes or inns in Bali are increasing every year. Increasing population in Bali became one of the reasons why Bali property continues to increase. Automatically, property values are also increasing. This is what makes many people think twice to invest because of the high price of buying property in Bali.

Why is Bali property more valuable? The rapid development of development makes the land of Bali increasingly narrow and increasingly difficult to find land for the wake. The value of property in Bali to buy in several years will increase and give 2-3x profit. The most important thing is to invest Bali property Indonesia in the right location.

Have you heard of the difficulty of getting accommodation during high season in Bali? The high demand for accommodation in Bali is increasing every year. Investors are increasingly active in building hotels, resorts or villas in various locations. This is the reason why property prices are more expensive. The more land demands the higher the property selling price in Bali.

You have to prepare more budget for investment in Bali. Do not be surprised if buying property in Bali can reach 2-3x more expensive than other cities in Indonesia. Villa is one of the most affordable investment options today. Think that you are buying a property in the form of land or a villa as a long-term or long-term investment.

There are things that can not avoid while on holiday to Bali like accommodation. You must prepare for a vacation with your family. During high season, do not expect to get a cheap hotel room. that’s why tourists are turning to rent a villa as an accommodation option.

Indonesia’s economy has experienced a decrease and increase and resulted in property prices. The advantage you can get to buy Bali property Indonesia is to have prices tend to or even increase. The lethargy of Indonesia property industry does not affect the selling price and buying property in Bali.

Villa Bali sale is one of the trusted and best Bali property Indonesia agency to get the best investment. You can search and compare prices of villas or land as an investment. Finding property agents closely can prevent you from being fooled by naughty local people. Do not let you be fooled, for it must follow the rules of seeking a safe investment in order not to harm you. Every step of your decisions in investing determines the benefits you get.

Find Out Useful Apps for Property Management

Whether you’re a landlord, an investor, or a property manager, you know fully that managing your property is a must. Without maintaining your property, you may lose your clients. Aside from relying on human resources, you can also rely on the technology such as useful apps for property management. As technology keeps advancing nowadays, it’s not hard to find useful apps that you can rely on for daily task including to manage your property properly with ease. Time and energy are important for everyone especially for entrepreneur. You need to work effectively and efficiently and that’s why you need useful apps.

Find Out Useful Apps for Property Management

Smart and useful apps for property management

 

Living in this era means that you have easier ways to go through many ways in your life. You have mobile devices that you can carry everywhere you go. Thus, you can easily install useful apps which help you with your property business. Some apps are free and some are not. However, it’s your decision to choose which apps is the most useful for your work. So here are some apps that you can choose to help you manage your property business efficiently:

  • PayByGroup is an app which helps you to collect money from your tenants. This will helps a lot especially when you manage multiple tenants. It will save your time instead of knocking the door one by one. With this app, you can avoid to deal with partial payments. This app can be used either for vacation rental market or residential property.
  • Rent Tracker is an app which can be installed into android, iPad, iPhone devices, and even PCs. With this app, property manager can enter contractors, multiple tenants, as well as buildings in just few clicks. This app is also useful for rent payment management which makes both property manager and tenants in ease.
  • Next useful apps for property management is Houzz app. This is a website that you can visit anytime through variety of devices whether mobile or PC. However, it’s now also available in a form of smart app which can be downloaded and installed into your mobile devices. This app helps you remodeling or decorating your property. Thus, you won’t run out inspiration to work with your project. The source in this app is varied started from photos of interior design, information of architects, contractors, as well as the reviews.
  • DIY landlord is an app useful for landlord or property manager. This app helps to organize property easily. Besides, this app also helps you to enter rent payments, manage your finance and fund allocation, as well as send or export emails. This app is available for iOS or android mobile devices.

Actually, there are numerous smart apps you can use to help you managing your property business. You can choose which one of them that is really helpful to ease your task. Now you know that technology is useful in many possible ways. You can run your business efficiently with useful apps for property management installed into your mobile devices or PC.

How to Build An Ultimate Villa Bearing the Soul of Ubud

Owning a villa in Ubud, Bali, is somehow different than in any other Bali beach towns. Instead of pretty beaches and coastal winds. Ubud is buzzing with a blend of spiritual energy, organic living, natural greeneries, and hip western touch to the modern shops and cafes.

How to Build An Ultimate Villa Bearing the Soul of Ubud

The sun-lighted coastal style might be best to apply at beach town villas, but a villa in Ubud need you to dig deeper to find a connection to the earth. Inspiration can come from ancient temples in the neighborhood, magnificent green rice terraces, and lush jungles that are always enclosing the area.

Open and Spacial Terraces

What makes Ubud, Ubud, is its closeness to the greeneries. Take advantage of the magnificent view of terraces of rice paddies and skyscraper palm trees by creating open terraces which directly faces the landscape. It invites guests to feel the refreshing scenery with all their senses; view of every shade of green at every direction you see, sounds of the wildlife in the rainforest, and the chill air gently blow at their skin. Direct connection to the surrounding nature suggests a luxurious private hideaway just in the heart of the jungle.

  1.  Put Framed Art in the Wall

Many great artists call Ubud home, as this town itself is a renewed arts hub. Take some of the artwork homes and put them on the wall—the larger, the better. The wall art gives an instant strong vibe of Balinese wisdom and culture to the room.

The art is not limited to painting. You can opt for Hindu’s god and goddess carving for art installation to bring Ubud’s spiritual tranquility inside the house.

  1.  Bring Tropical Foliage Inside

Indoor tropical plants ferns, palms, bamboo, or monstera leaves are what you need to strengthen what surrounds you outside, to the inside. If you are feeling bold, install a living wall to one of the areas, such as indoor garden.

  1.  Woods and Stone

Incorporate natural materials into the furniture and design as much as possible. Timber and locally quarried stones are great to bring out natural characteristic nature, but assembling a touch of bamboo will significantly enhance the taste of raw Ubud to the villa.

  1.  Open Space Bathroom

There’s something special about taking a hot bath while being privately exposed to the calming nature. A semi or total open plan bathroom with large bathtub is just what guest need after spending a long day walking down the town. Mix paving with pebbles and timber decking for a non-slip surface after the bath.

  1. A Villa in the Hill? Invest for Infinity Pool

An infinity pool is always a winner. Guest just love to snap photos of them visually swimming in the middle of the sky. A villa located in the hills could take benefit of the elevation, creating a sense of being in the mid-air without much effort. It’s even better when tall tropical trees growing from the ground below envelops your pool.

  1. Glass wall for visual extension of the room

While your villa is hidden among Ubud’s lush forest, replace some walls with glass to further blur the lines between indoor and outdoor. Guest can rest comfortably just across the wall overlooking the jungle, where they can not only be able to relax and rest their mind but also having a deep reflection of why we need to get connected with nature once again.