1. Manage Endless Paperwork Quickly Paperwork is one of the most tiresome aspects of real estate investment, especially for new real estate investors who are still learning about space and the processes required to succeed in it. Paperwork is also one of the most crucial aspects of real estate investment. Because investors receive most of their returns from rent income, documenting the contracts, tenant information, property management, and compliance with industry standards are essential for collecting rent. 2. Two-Way Communication with Tenants The best real estate investment software solutions also allow you to communicate with tenants and maintain communication records if you hold rental properties. This is important because tenants can report issues, and you need to know about them as soon as possible. 3. Automate Tasks and Processes Real estate investor software solutions such as SyndicationPro are designed to help you automate tasks, track critical data points, and make better decisions using data analytics. Real estate investment software allows you to create and manage workflow for team members and clients. You can also use this software to collect payments, send invoices, and manage customer relationships. 4. Visibility into Critical Data Points In real estate investments, many factors can impact the profitability of your investments. For example, you have to consider the type of real estate asset you’re investing in, the location of the property, the market conditions, and macro-economic factors. 5. Track Your ROI Real estate investments can be a lucrative business. You can make a lot of money from investing in properties, but only if you follow a tried-and-true strategy that consistently generates profits. To achieve this, you must first find the right real estate assets, communicate with property owners to invest in and then perform due diligence to ensure you’re comfortable with the investment.

To be a successful real estate investor, you need the ability and resources tothoroughly perform a complete real estate investment analysis. As a beginner, you may be asking what exactly real estate investment analysis is and why it is so important. Real estate investment analysis is all the steps and calculations that you have to perform in order to find out the real value of a real estate investment property. When looking at multiple real estate investment properties, you may start eliminating some based on if they are located too far from you or if you feel the asking price is way out of your budget. However, making the decision on which investment property to choose cannot stop there. Real estate investment analysis will allow you to make more informed investment decisions. Let’s take a look at some of the advantages of real estate investment analysis in detail. Advantage #1 Overall Accurate Data A seller of an investment property isn’t always going to be the person you can trust the most in the world. There’s a simple reason why: the property seller wants to do anything and everything to sell his/her investment property and get a maximum profit. This is where pro-forma data can come from. Pro-forma data is the estimated data about the value of a property that you usually find initially. You hope that is it accurate, but a lot of the time, it isn’t. This is where real estate investment analysis comes in. When you’re performing analysis on a real estate property, you’re getting the most accurate data out there, away from the information provided by the property seller. While you can use different tools online, like Mashvisor, to find the right data, you can also ask to see actual records regarding the property: tax returns, maintenance and repair records, property tax bills, etc. Advantage #2 The Real Value of the Property Surprises are never a real estate investor’s friend, and real estate investment analysis will help you avoid running into any future surprises. Done well, it will give you the whole picture of the investment property. For example, single-family homes really require a real estate investment analysis. This is because the value of this type of investment property doesn’t rely on the numbers and calculations alone. The real estate investment analysis will lead you to comparables (real estate comps): other investment properties located in the same area that have similar features and characteristics. The value of a single-family home will depend on these comparables. If these real estate comps are high in value, the investment property you’re considering will be high in value. If, for some reason, the real estate comps are losing value, so will your investment property. So, you need to have all this information in hand. You don’t want to end up investing in real estate that is losing value. Likewise, real estate investment analysis will give you the whole picture of a multi-family investment property. While the value of these types of investment properties doesn’t rely on real estate comps, it heavily relies on the rental income they will produce. Real estate investment analysis will give you all the information to end up with the most accurate rental income a property will produce. Advantage #3 Vacancy Rate Included An issue some real estate investors run into down the line is dealing with expenses that pop up during a vacancy. Without real estate investment analysis, you may be looking at the rental income that the rental property generates at a 100% occupancy rate. If a rental property is fully occupied when you are buying it, you may not even consider vacancy rates. However, every area has an average vacancy rate. A real estate investment analysis of a property will let you take into account that your rental property is susceptible to this vacancy rate and calculate how much rental income you won’t be receiving from this. Advantage #4 Buyer Personalized Information A property seller will show you numbers like net operating income (NOI) and capitalization rate. These numbers may look good to you and encourage you to jump into this real estate investment. However, you’ll be making a rookie mistake. These numbers are completely independent of the property buyer’s financing. Your interest rates and mortgage payments are not taken into account here. With real estate investment analysis, you’ll dive deeper into numbers that reflect your personal financing situation: cash flow and cash on cash return. The analysis will give you all the numbers, dependent and independent of the investment property, to help you make the best investment decision for your personal needs. Advantage #5 The Future of Your Investment Property No real estate investor can predict the future of an investment property: whether or not it will continue to bring success to the investor. Despite this fact, real estate investment analysis can be used to give a good estimate of what the future will bring for your investment property. The analysis can be extended to account for the next couple of years with the use of trend data and demographic data. This data will show the direction of the local housing market, inflation, or even tax trends if you wish to be really thorough. Ultimately, a property may seem like a safe investment this year, but maybe next year it will cause you losses that real estate investment analysis can help predict ahead of time. Advantage #6 Return on Investment An initial look at an investment property may show that you have to put down a sizeable sum of money to actually invest. You might be tempted to run in the other direction towards a lower investment. This could end up being a huge mistake and cause you to miss out on a profitable investment property. Real estate investment analysis will give you the return on investment (ROI): the amount of cash flow of a property relative to how much money you invested. A good ROI occurs when the cash flow is higher or the amount invested is lower. You’ll automatically think the only way to get a good ROI is to find a cheaper investment that you can make a lot of money from. While this, of course, is a great option, there are higher investment properties that yield a greater ROI than a lower investment property that may not even have positive cash flow. Real estate investment analysis will help you choose which property you’ll benefit more from, so you don’t have to depend on initial assumptions. Advantage #7 A Confident Investment Decision It’s obvious now that with real estate investment analysis, you’ll have all the right information to back you up when you’re making a decision on what property to invest in. There is nothing more valuable than the thought that you are 100% confident in every decision you make in real estate investing. One informed investment decision after another and soon you’ll have a string of successful real estate investments to be proud of. It all starts with real estate investment analysis. Overwhelmed by all the calculations and data that come with real estate investment analysis but still want to benefit from the advantages of it? Hop on over to Mashvisor where you’ll find vast listings of properties with all the values of real estate investment analysis at your fingertips. You, too, can start benefiting from real estate investment analysis now.

As a multimillionaire property investor and founder of one of the largest property-training companies, I know there are a few things that people starting out in the U.K. property market often ask or need to know. So, whether you are an overseas investor looking to enter the U.K. market or a British citizen getting started in property for the first time, this article will help you begin the process of buying your first investment property in the U.K. 1. Double the price doesn't mean double the rent Sometimes, people will come to me and say that it is impossible to get high returns on investment from renting out rooms in an HMO (house in multiple occupation), for example. In some cases, these people are even landlords themselves who have properties in high-end and upmarket areas. What people don't realize is that just because a house is in a more expensive area, it doesn't mean it will command that much higher rent per room. A simple exercise you can do is to look up property prices in an area via a property portal, such as Rightmove or Zoopla, and find out what price suitable houses are selling for. Then go to a site that advertises rooms to rent, such as SpareRoom and look at the "room wanted" advertisements to see the level of demand and the prices people are willing to pay. Do this for an expensive city in the U.K. and then do it with a cheaper city. You will soon see that investing in more upmarket areas will significantly eat into your potential returns. 2. The North and South divide While there are great areas to invest in all over the U.K., as a general rule of thumb, it often makes sense to look towards the north and the midlands, which has cheaper property with higher rental returns. Many people like to invest in London because of the rate of capital appreciation, but I believe it is never sensible to rely on this. I prefer to invest for cash flow; that way, if the market turns against me, I can happily hold on to the property while it generates profits. Even if capital appreciation is your main concern, however, it is better to buy somewhere that has bottomed out and is trending upwards rather than somewhere that has already boomed and at some point will be heading back the other way. Find the hidden gems that are seeing new employers open up or that are in the process of being regenerated. That way you can benefit from both cash flow and rising prices. 3. You don't need to live where you invest It makes sense to find a "patch," an area that you can get to know and understand the property market in. But that doesn't have to be where you live. The area you live in may not have the high-return properties you are looking for, or be otherwise unsuitable. You simply need to find somewhere close enough that you can drive to and spend some time there getting to know the place. If you are an overseas investor, it makes sense to joint venture with someone who knows the local market, especially if you are unable to come to the U.K. to do the initial research yourself.

As a property investment company dealing with plenty of new and experienced investors, we are well aware that research, due diligence and general knowledge surrounding an investment class, or any one particular property is essential. However, also having a wider understanding of property, in general, is vital, enabling you to make informed decisions. Whilst us and many other investment brokers try and get across the benefits of investing in a softer market, we are also fully aware some investors simply want to remain liquid and conduct research, so when their confidence does return, they are fully prepared and able to move forward. 1. Home.co.uk Whilst the appearance of this website is quite dated, it’s a fantastic resource to view data/performance of any specific postcode in the UK. If you select, the ‘Prices & Rents’ tab and then type in a postcode, for example, M5, it will bring up further options to narrow down the data. Then go to ‘Selling Price Reports for M5’ rather than Asking Price, you can then select the option to view the performance over the last year. It will then bring up 3 graphs and you can change the timeframe at the bottom (the longer the better for more accurate info), then view the best performing property types, sales volumes etc – a great snapshot of any location. 2. The Property Hub Podcast Whilst these guys are effectively our competitors (although we charge no fees to investors), for years now they have been delivering amazing educational property content and value via their podcast, so we wanted to give them a shout-out.If you click the link above you will be taken through to their podcast list, it’s worth going through the archives as most of the information is still applicable, they’ve also got some interesting insights on the current market conditions. 3. Property Development Book by Lloyd Girardi This one will mean you have to fork out a bit of money but it’s well worth the small investment. As an investor, in our opinion, it really helps to understand the property development process as a whole, how sites are financed, acquired, the professionals involved and ultimately how a site is built out. If you’re interested in off-plan investment or loan note/property bonds, it goes a long way to explaining the security and general process. For those advanced developers it may come across as basic but for most property investors it’s a useful introduction to the property development world. 4. Hometrack As a commercial service, Hometrack provides market intelligence to companies like ours enabling detailed market analysis. Starting in 1999 and now owned by Zoopla Group, they also produce a City Price Index Report which tracks house pricing trends, this a great way for investors to keep an eye on the best performing cities in the UK in terms of capital growth. 5. PropertyTribes.com If you wanted something a bit more interactive, this forum is a good place to start. They describe themselves as the #1 Property Forum for Private Landlords. So, if you have a burning question, want to get an understanding of what other landlords are going through or just generally fancy browsing a variety of subjects in one place, take a look here. A word of warning though, as per any forum, take responses from other members with a pinch of salt and always do your own checks and due diligence, especially if it relates to a buying decision. 6. PropertyData.co.uk Comprehensive research should be at the heart of any property investment decision, and tools like PropertyData are key to that research. The platform can help you identify where to invest, review local market performance, compare areas you’re interested in, and even benchmark rental prices. There is a subscription cost, but for the price (starts from £14 a month) it’s one of the best tools available given the level of detail and range of data available. Plus, there’s a trial period so you can get a feel for the platform before committing. If you’re serious about investing, it’s well worth a go.

Whether you are new to property investing or already have a large portfolio, knowing the best tools for property investors can help you grow and manage your portfolio more effectively. So, here’s our guide to 10 of the best tools for property investors in the UK at the moment: 1. Property Hawk Buy-to-let landlords will love Property Hawk as it gives them free access to a host of documents and software that would normally need to be paid for. Legal costs can be cut by downloading their free forms and documents, including tenancy agreements and rent change notices. Users can also manage their investment portfolio using the free Landlord Software. This gives landlords the ability to keep all their records up to date and manage the finances of their properties effectively. 2. Landlord Vision If you’re not an ‘admin person’ then you’ll appreciate this beauty of a tool that’s made specifically for property investors. Landlord Vision combines both management and accounting into one easy-to-use tool. That means you can easily keep on top of both your accounts and the various paperwork you need to meet landlord regulations. Landlord Vision is recommended by both the National Landlord Association (NLA) and the Residential Landlord Association (RLA) so you know it’s a tool that can be trusted. 3. Rated People If you need any work doing on your properties that you cannot carry out yourself, Rated People has you covered. Whether the job is large or small, there are over 50,000 local tradespeople on the site that cover the whole of the UK. Therefore, you can be sure of finding someone capable of doing the jobs you need doing, at a fair price. Each tradesperson has a profile where any reviews from past jobs will show up so you know they can be trusted with the work you need doing. Rated People is by far one of the quickest and easiest ways to hire tradespeople to work on your portfolio. 4. Property Detective The Property Detective website is primarily made for non-investors who are buying a property. However, that doesn’t mean it cannot be useful to investors too. Simply enter the postcode of a property you are considering buying and you’ll be presented with a range of detailed statistics and facts about the local area. For example, you’ll get school reports, crime information, local demographics, flight path information, and more. All of this can be used to help you assess the type of tenant you are likely to attract and how best to market it on re-sale. 5. Portfolio Founded by a two former letting agents, Portolio is a relative newcomer in the industry and is still building up a head of steam. However, don’t let that put you off as this is a business that could really be going places. In essence, it’s a portal not unlike the ones offered by giants such as Rightmove and Zoopla. However, where Portolio differs is that they only feature tenanted properties that are up for sale. That makes it a buy-to-let landlords dream as you can benefit from immediate rental income as soon as the purchase has been completed. Beginners will also love the ease at which they can buy their first investment property without the uncertainty of whether they can find a tenant quickly.

1. Arrange financing Financing a single-family rental property works a little differently than applying for a mortgage on a primary residence. Down payments can be bigger, lender fees and interest rates are usually slightly higher, and there are different requirements to qualify: · Down payments generally range between 20% and 25% of the property purchase price. · A credit score of 720 or higher is often required for the best loan terms, according to Experian. However, it’s certainly possible to purchase an investment property with lower credit. · Required borrower documentation generally includes copies of tax returns, bank statements, and proof of income (similar to applying for a loan on a primary residence). · Some lenders may require up to 6 months of mortgage payments to be held in a reserve account in case rental income turns out to be lower or expenses come in higher than projected. 2. Understand rental property metrics Return on investment (ROI) is a financial metric that real estate investors use to help determine how potentially profitable an investment property might be. To calculate the ROI of a property, an investor needs to: · Estimate annual rental income—including rent and additional income like storage fees or pet rent. · Estimate annual operating expenses, including repairs, property management fees, HOA fees (if any), insurance, and property taxes among others. · Forecast annual cash flow by subtracting operating expenses and interest expense (not principal) from income. · Determine down payment and other up-front cash (such as needed repairs). · Calculate ROI by dividing annual cash flow by the total amount of cash invested. Then add in expected appreciation. 3. Select a local market Some of the key factors to consider when evaluating local real estate markets include: · Job and population growth (historical and projected) · Percentage of renter-occupied households · Rental rate and vacancy trends and projections · Historical volatility of home prices in the market · Neighborhood rating, which is largely driven by school district quality and employment rates · Your personal willingness and ability to spend time in a particular market · Tendency of a market to reward rental property investors with income, appreciation, or a blend of the 2 over time · Property tax rate compared to other neighborhoods or markets · Risk of natural disasters like wildfire, hurricane, tornadoes, etc., that may drive up insurance costs 4. Identify and offer on specific properties Some of the most important factors to consider when looking at specific properties include: · Vacant vs. tenant occupied, depending on what type of opportunity you're looking for and your risk tolerance · Age of the home and any obvious deferred maintenance · Curb appeal and the condition of neighboring homes · Expected landscaping, snow removal, and other ongoing maintenance costs · Age and condition of major systems like HVAC, plumbing, and electrical · Age and condition of major appliances · Existence of pool, spa, or other liability factors · Bed and bath counts, which impact desirability among tenants 5. Complete due diligence and close Once your offer has been accepted, you're officially "in contract," and that's when the real fun begins. This is a key moment in the acquisition process and is your one opportunity to confirm assumptions and make sure you want to move forward. Some key things to pay attention to in due diligence include: · Is your modeled rental income realistic? Is it supported by local area comps and asking rents for similar properties? · Are there disclosures from the current owner? Are they comprehensive? · What does the property inspection report say? Do you have enough additional funds set aside for expected repairs and improvements? · Is your debt financing on track? Is your rate locked and have you modeled your interest and principal payments accurately? · Is property insurance readily available at a reasonable cost? · Are there any surprises in the title report? · Are there any surprises on the draft settlement statement? · Once you've closed on your rental property acquisition, it's time to focus on tenant relations and other important operational aspects. Two key areas that require immediate attention include tracking income and expenses and sorting out property management.

“Never look a gift horse in the mouth,” says the old adage. Landlords sometimes feel that way when considering whether to let tenants prepay their rent. At first glance it can seem like a no-brainer: Why would you ever say no to money? After all, you invested in multifamily real estate to generate steady income at limited incremental cost. What better way to pocket more revenue than to be paid rent up front? On the plus side... Cash in hand. Getting a lump sum of cash can help alleviate cash flow problems for landlords, potentially making it easier for you to pay ahead for property management services, maintenance and repair providers, and other expenses. Simpler collection. The more monthly payments a tenant makes at once, the fewer times you will need to run after that tenant to collect rent. Of course, if you’re looking to simplify rent collection, one simple solution is the auto-invoicing function in Story by J.P. Morgan. Story’s automatic invoicing provides configurable payment reminders, reconciliation at the property and unit level – even the option to block a payment if accepting it would place you at risk! Security buffer. Collecting rent ahead of time could provide more security when dealing with a high-risk tenant – for example, one who has not provided you with proof of income, has become unemployed, or has little or no verifiable rental history. Sign of good faith. A rental applicant who is willing to pay for multiple months in advance is likely to be serious in their commitment to living in the property.

If you are a landlord, finding the best guaranteed rent program can make all the difference for your investment. Whether you already have a property you want to rent out through a guaranteed rent letting agent or you are looking for a guaranteed rental property investment, it's important to know what you want and what the best guaranteed rent companies should offer. Along with this, there are some problems with guaranteed rent, just like there are problems with anything else. When you're looking for guaranteed rent property management or letting agents guaranteed rent, it's important to look at the pros and cons to make sure it's the right company for you.

Guaranteed rent is a concept that provides landlords with peace of mind and protection against rental voids. A guaranteed rent agreement ensures that landlords receive a regular, predetermined amount of rent, regardless of whether the property is occupied or not. It is especially beneficial for landlords who own a property that is difficult to rent, such as those in a less desirable location or in need of significant repairs. In Birmingham, certain property-sourcing companies specialize in such guaranteed rent services. They take care of all aspects of the rental process, from marketing and advertising the property, to screening and selecting tenants, to collecting rent and managing any issues that arise. In return, the landlord receives a guaranteed rent payment, often paid monthly, which covers their mortgage, insurance, and other associated costs. Guaranteed rent in is becoming increasingly popular as more landlords seek to protect their investments and ensure a steady source of income. With a robust rental market and a high demand for rental properties, guaranteed rent is a smart choice for investors looking to reduce risks and increase their returns. Whether you are a seasoned investor or just starting in the property market, guaranteed rent is a solution that can provide you with the security and peace of mind you need to succeed. Investing in real estate is a great way to build wealth and create a steady income stream. However, it can also be a stressful and time-consuming endeavor, especially for those who are new to the world of real estate investing. Fortunately, there is a solution that can make an investor’s life much easier and stress-free: guaranteed rent. Here are the following ways in which guaranteed rent can offer you an easy life: 1. Regular source of income Guaranteed rent schemes offer investors the peace of mind of knowing that they will receive a monthly rental income, regardless of whether the property is occupied or not. 2. Proper maintenance of the property In addition to providing a stable rental income, guaranteed rent schemes also take care of all the property management responsibilities. It includes finding tenants, collecting rent, and dealing with any maintenance or repair issues. This can be a big relief for investors who do not have the time or expertise to manage their properties themselves. Instead, you can sit back and relax, knowing that everything is being taken care of for you. 3. Secure future Many guaranteed rent schemes also offer long-term rental contracts, typically of several years. This provides investors with the security of knowing that they will have a stable income stream for the foreseeable future. It can be especially important for those looking to build a retirement fund or provide financial stability for their family.

The economic climate is changing so fast, that it can be difficult for buyers, sellers and owners to keep up, let alone feel remotely in control. People naturally want greater clarity and security to plan around their biggest financial asset. With access to a wider selection of data sources, individual buyers and sellers, and estate agents, can act on more accurate information and plan investments, and the next steps in their financial journey, accordingly. This increased confidence in decision-making will also likely see more activity in the market, fighting against persistent stagnation. Looking at the overall picture, increased confidence in decision-making will in turn slow the current winds of unpredictability that have the market swaying. Strong foundations for buyers and sellers mean strong foundations for the market. Increased buying and selling could then result in predictions tipping towards the steady recovery that everyone wants. The property market no doubt needs willing buyers and sellers now. But those buyers and sellers need confidence that they’re acting on accurate information. However, given the current backdrop, both the buyer and seller’s markets are in a state of flux. So, it’s not surprising that property prices have somewhat stagnated, and predictions go both ways. It’s challenging for anyone to predict the outcome of this rocky period, which is what makes Rightmove’s findings so interesting. What is clear, is that buyers and sellers are craving realism around price and value and are in desperate need of information sources to help them do so.

Over 50% of UK property investors are set to further invest in 2023 despite continuing economic uncertainty, with additional activity planned by more experienced investors, according to a new survey from bridging finance broker, Finbri. What advantages does property investment provide? As over half of UK property investors are looking to expand their portfolios in 2023, many benefits would have been considered to determine if this would be worthwhile - a few of these benefits include: Capital appreciation: Property prices are predicted to drop by 5-10% in 2023 - and with many homeowners struggling to obtain a mortgage and repossessions on the rise, the increasing number of properties available on the market will be a prime opportunity for investors to expand their property portfolio. As the economic situation improves, prices are expected to increase by 2% in 2024 and 4% in 2026. Additional income: With rental demand on the rise, tenants are often willing to pay a premium for good quality properties in desirable locations. Experienced investors will be able to take advantage, hoping to achieve high yields (the amount of rent as a proportion of the property value). The average rental yield in the UK is 4.71%, but this varies from location to location and researching where the highest yields are will provide investors with a strong indication of where they should be looking to expand their portfolio. Property investment can be a great way to diversify your portfolio and generate additional income, but it's important to research to discover which locations are better for investment. Keep an eye on interest rates, as they are expected to rise over the next few years and be aware of developments in the market that could make it more competitive.

The average price of a home is still £281,684, meaning there was very little monthly change from December to January. This follows a series of monthly drops in the property market throughout the end of 2022 - perhaps we are seeing prices stabilize and start to bounce back? With property prices slumping in 2023 and interest rates rising, we could see pricier mortgages for cheaper houses - as affordability takes precedence in the UK. Halifax's house price index data suggests that house prices stayed the same monthly from December to January, while research from Finanze suggests residential house prices could fall 11% in 2023. As the market shifts, we're seeing buyers priced out of expensive areas as they look to more affordable alternatives. And of these expensive areas, we've seen a trend of homes being sold below the asking price, compounding the downturn in house prices across the UK. This price trend, coupled with rising interest rates, has left first-time buyers and those looking to refinance unclear of their options as they look towards the coming year. How will first-time buyers be affected? First-time buyers must have their expectations measured in light of the recent house price dip. Despite falling property prices, mortgages remain expensive for those attempting to leap onto the property ladder. This also isn't helped by certain lenders pulling out of the government guarantee scheme aimed at helping first-time buyers, with a large LTV (Loan-to-Value) and a small deposit, despite it being extended into 2023. Most importantly, however, interest rates remain high, which counterbalances the drop in property prices. This fact alone can bar the way for many first-time buyers – not to mention that the affordability gap between renting and owning a home is becoming ever closer, making it just as expensive to rent as it is to pay a monthly mortgage payment.

HOW THREE REAL ESTATE COMPANIES BECAME MORE EFFICIENT We spoke to hundreds of property managers about the most common issues they face in the day-to-day management of their buildings. Their responses were variations of the same theme: a lack of standardization and the inability to make routine tasks run automatically, resulting in wasted time and money – and inefficiency. Property Problem #1 Sharon in Boston had this problem every winter – building staff members would be unexpectedly absent or go on vacation – and whoever is covering has no idea what’s going on at that property. SOLUTION: Work can’t stop because someone is out of the office. Sharon needed a way to give all team members access to centralized information, with property-specific details on due dates, equipment, open tenant requests, and more. Property Problem #2 Lance in New Jersey has a team of 6 property managers. A few have been on the job for years, and know their buildings inside and out, while others just started. How can Lance take all the knowledge his seasoned property managers have in their heads and instantly transfer it to the newcomers? SOLUTION: Your team’s processes and best practices shouldn’t be buried in forgotten memos, emails, and binders. Managing records, routines, and reporting in InCheck allowed Lance to make this information instantly accessible and updated for the whole team. Property Problem #3 Rob is the Director of Property Management for a company in Raleigh. Each time he prepares for his quarterly meeting with the C-suite, he struggles to show building and team performance, and make recommendations as to where staff need more resources or better processes, because these types of metrics are just not available. SOLUTION: Great companies create processes they can repeat and use to grow. Without data on where inefficiencies are, it’s impossible to become more efficient. What if Rob could audit performance on a building-by-building, employee-by-employee basis?

BENEFIT FROM THEIR EXPERTISE One of the most obvious but important benefits is that landlords can gain access to their accountant’s wealth of knowledge and advice. A specialist property accountant will be well-versed in property taxes, the best way to maintain accounts and the HMRC reporting processes. A property accountant that can be consulted to answer queries is invaluable and can save a landlord money and time. ALWAYS HAVE UP TO DATE ACCOUNTS Company accounts need to be kept up to date as a legal requirement. However, landlords that have access to up-to-date accounts can use this information to their advantage. This information can help landlords understand if they are running at a profit or a loss. They might need to adjust rental amounts or reduce maintenance costs. In addition to this, landlords can keep track of any late payments and ensure their receipts and bills are always in order. Accurate record-keeping will benefit landlords in the long term and will provide peace of mind that everything is in order. CAN HELP PLAN FOR THE FUTURE Finally, a great advantage to landlords from using a property accountant is having access to an expert whenever there are any business decisions to be made. Accountants are there to help business owners and their companies. Landlords can have confidence with the knowledge they have specialists at hand. A property accountant who is able to supply landlords with up-to-date financial information about their business will allow the landlords to plan for the future. For example, although landlords may have purchased a property for the sole purpose of renting, there may become a time when they want to sell the property. A specialist property accountant will be able to help the business owner prepare for such eventualities and be able to advise accordingly to discuss the best options. A landlord may decide to invest in more property. If this is the case, a specialist property accountant will be able to guide them through the process, help them understand whether they are in a suitable financial position, what their budget should be and more.

Home prices are beginning to show signs of cooling as buyers have pulled back due to mortgage rates doubling this year, which is starting to convince sellers to lower their sales price. However, the overall housing supply remains limited as those who purchased homes in recent years at low mortgage rates are staying put. Additionally, many sellers are waiting for interest rates to drop to have a better chance of getting the price they want. While home prices continue to climb from last year, the price points are not as high as earlier this year, indicating the over-heated housing market is slowing down. Many housing insiders warn buyers against trying to time the market as the economy wades through this period of uncertainty.“Deciding to buy now or wait is going to depend on the individual buyer’s motivation and situation. Waiting may not be a viable option,” says Krista Forsberg, a real estate agent at Keller Williams Realty in Edina, Minnesota. “Even if a buyer can push pause on buying to later in the year or 2023, there isn’t likely to be significant improvement in prices or interest rates.” As we approach the end of 2022, housing experts maintain a watchful eye on the economy, which is still being pulled in all directions by stubbornly high inflation, rising interest rates, the war in Ukraine and Covid-19, to name a few. While housing has been the star of the U.S. economy the last few years, there are signs of wear. For instance, the 30-year fixed mortgage hitting a year high at 7.08% by late October, making it harder for buyers to access affordable housing.

In the United Kingdom (UK), the proportion of landlords that observed a significant increase in tenant demand for their property increased substantially. In the third quarter of 2022, the share of landlords that observed demand grow in the past three months was 39 percent compared to one percent that saw demand fall slightly. When it comes to home purchases, the housing market experienced increased demand and sales volumes, while the stock and supply of new homes decreased.

The private rented sector accounted for 4.5 million households in 2017/18, with the market having doubled in size since 2002 for reasons that include affordability constraints in the sales market. The impact of this trend can be seen most clearly in London, where private renters accounted for 29% of all tenure types, which compares to 19% for the whole country. Tenant demand will continue to exert upwards pressure on rental values in UK mainstream rental markets during the next five years and the largest cumulative growth is forecast to take place in the capital. We expect rental value growth to gain momentum after 2020 as more political certainty returns to the UK after it enters the transition phase in 2020. We forecast a similar pattern in prime London rental markets, with rental value growth over each of the following five years. While private investment and public spending will stimulate demand as the economy strengthens, there will also be downwards pressure on supply as more meaningful house price inflation returns to the sales market, prompting more owners to sell. We expect lower-value rental markets in the capital to outperform in the short-term, with 3% growth in prime outer London forecast for 2020, a trend that will be driven by this lack of supply as owners try to capitalise on any post-election 'bounce'. Furthermore, housing will remain a key political issue as the Conservative government looks to redress perceived imbalances across the country and any reversal of recent tax changes for buy-to-let investors appear unlikely. This will put further upwards pressure on rental values as stock reduced and lead to the increased professionalization of the private rented sector.

Landlord Causes of Stress: Finding good tenants 73% of landlords said finding good tenants was moderately or extremely difficult (UK Landlord Survey 2021). This can certainly be a tricky part of the process, especially for first-timers or landlords needing to find a tenant quickly. The first step to finding good tenants is creating a high-quality advert. If your listing doesn’t do your property justice, your chances are already limited. Clear photos, a well-written description, and setting a realistic and competitive rental price will mean your property is well placed to attract the right tenants. Whilst the advert should showcase your property, it must also be honest and accurate. There’s no point only showing photos of the best rooms or ‘forgetting’ to mention that the garden is shared. Sure, you might get more enquiries, but if a tenant arrives and the property is not as expected, it’s a waste of everyone’s time. Landlords should carefully consider their specific tenant criteria. If you’re looking for students, don’t want smokers, or would prefer no pets in your rental, clearly state this in the property description. Landlord Causes of Stress: Handling maintenance issues Solving maintenance issues can be a significant cause of stress for landlords. Keeping the property and the tenant safe is a landlord responsibility, but arranging maintenance work can be tricky, particularly for emergencies that require a fast response. 59% of landlords revealed they found managing maintenance issues to be moderately or extremely difficult. Specifically, getting a good price from contractors proved most challenging, with 78% of landlords finding this difficult. A close second was finding a reliable contractor at 72% (UK Landlord Survey 2021). Preparing a list of reliable tradespeople makes things much easier. We recommend having at least two dependable professionals for each maintenance area. Whether a plumber, electrician or gardener, relying on a single contractor is risky. And if they’re good at their job, they aren’t likely to be available at short notice.

The Meaning of 'Let Agreed' If you are looking to rent somewhere, you'll often see the term 'let agreed' next to featured listings of rental property and you might have wondered why that property is still featured - why is the agent or landlord still advertising? You'd be right in thinking, that when you see this phrase, associated with a property, featured on Rightmove or Zoopla or featured on a sign in front of a house or flat, it means that the property is no longer on the rental-market. And yet it doesn't mean that the house in question has been let - only that it probably will be, in the not-so-distant future. What's A Succinct Definition of 'Let Agreed'? 'Let Agreed' means that an offer by a prospective tenant on a rental property has been accepted, in principle, by the landlord or the estate agent. But, before the deal can be completed and the keys are handed over, there will need to be checks done on the tenant, including credit checks, immigration checks right-to-rent and contacting references. So, if you are looking for a place to rent and see 'let agreed' next to the listing or on a signpost in front of the property then the best advice would be to probably move on and look elsewhere. What is the Difference Between 'Let' and 'Let Agreed'? 'Let Agreed' is where a tenant and landlord have a written agreement to progress their arrangement but the parties have not yet signed off on the final rental agreement - and there is still a chance that these agreements will fail. When a property is 'let', that means that the T's are crossed, the I's are dotted and that the rental agreement is in place. At this stage, if the tenant is not already living in the property, then there is a good chance that they will be soon. Is there a Difference Between 'Letting' and 'Renting'? There is a difference between let and rent but arguably, in terms of the real-life consequences of using the wrong term, it's not that important. In the correct vernacular, a tenant 'rents' a property whereas a landlord 'lets' their property to a tenant. A landlord shouldn't really describe what they were doing as renting, rather than letting - but such distinctions aren't important to most people, where what's meant is easily understood. When They Aren't Really Available? It's frustrating, unquestionably, when you are looking for a home, to be presented with options that aren't actually on the market in any real sense. There are, however, good reasons why property portals and estate agents do this. As we highlighted above, just because they are off-market, doesn't mean that Let Agreed' properties are a done deal with a rental agreement in place. Though unlikely, the deal might still fall through and other interested parties can register their interest in the expectation that this could happen. With online listings, the user experience of people that have bookmarked and favourited properties has to be considered. Just deleting properties would mean their experience of the site wasn't being respected. They will expect to be able to find the same information that they bookmarked the first time around and the fact that the property is under-offer is only one piece of that information. So, to best help, their users, property portals tend to keep properties featured on their sites, even when not available. Showing which properties are 'let agreed' can help prospective tenants and other's, interested in local, rental markets, see how the market is behaving. A prospective tenant that can see a lot of featured opportunities turn to 'let agreed' quickly, will at least know what they are up against.

Can your customers tell you something important? If you run your own business, I know you do your best to please your customers, satisfy their needs, and keep them loyal to your brand. But how can you be sure that your efforts bring desired results? If you do not try to find out what your clients think about your service, you will never be able to give them the best customer experience. Their opinions about their experience with your brand are helpful information that you can use to adjust your business to fit their needs more accurately. There are plenty of ways to leverage customer feedback and profit from it. In this entry, I will explain why collecting customer feedback, whether prompted or unprompted, is crucial in managing customer satisfaction and loyalty, customer retention, improving products and services, and in many more areas of your business. Sit comfortably and continue reading to discover the benefits of customer feedback. Here are the top seven reasons why customer feedback is essential in business. 1. Customer feedback helps improve products and services When you introduce a new product, brand, or service to the market, you probably have an idea about customer needs. Market research you conduct before introduction gives you an idea of potential customers would be willing to buy it, and they can also give you tips on how to improve it. However, only after your customers use your product or service can you learn about all the advantages, flaws, and their actual experience. On top of that, their needs and expectations evolve with time. 2. Customer feedback helps you measure customer satisfaction Customer satisfaction and loyalty are crucial factors determining a company’s financial performance. It is directly linked to many benefits, such as increased market share, lower costs, or higher revenue. Many studies confirmed the close connection between customer satisfaction and business performance. Therefore, there is no doubt that you want to ensure your clients are happy with your products and services. The best way to determine if you meet their expectations is to get their opinions. Using rating-based questions, you can easily estimate the level of satisfaction and consequently predict your company’s financial condition in the future. 3. Collecting customer feedback shows you value their opinions By asking your clients for feedback, you communicate that their opinion is important to you. You involve them in shaping your business, so they feel more attached to your company. Listening to their voice helps you create strong relations with them. This is the best way to gain valuable brand ambassadors who will spread positive word-of-mouth for you. And I am sure you are aware that their recommendations is probably the most effective and, at the same time, the cheapest way to acquire new customers and become more trustworthy in the eyes of your current and potential clients. 4. Customer feedback helps you create the best customer experience Today’s marketing is heavily based on people’s experiences with products, services, and brands. They do not buy Apple products just because they are good. They want to demonstrate their status and affiliation with a particular group. They do not buy Nike clothes because they are durable. They get the courage to extend their boundaries. Therefore, clients will stay loyal to your brand if you focus on providing the best customer experience at every touchpoint. And naturally, the most effective way to give them a fantastic experience is to ask them what they like about your service and what should be improved. 5. Customer feedback helps to improve customer retention A satisfied customer will stay with you. An unhappy customer will eventually find a better alternative to your business and leave. Customer feedback benefits are significant. It helps you determine if your clients are satisfied with your service and detect areas where you should improve. Thanks to asking for opinions regularly, you can always keep a finger on the pulse. Each time a dissatisfied customer expresses his disappointment, you can immediately react and find a solution to fix an issue. This is a perfect moment to win a client back and even increase his level of loyalty. In many cases, an unhappy customer who encountered a problem with your service but got it fixed straightaway demonstrates more considerable devotion to your brand than a customer who has never been disappointed with your service. 6. Customer feedback is a reliable source of information to other consumers In the times of social media, consumers do not trust commercials or expert advice so much. Opinions provided by other customers who have already used a product or service are the more reliable sources of information these days. When you look for accommodation in a city you visit or want to find a nice new restaurant to have dinner with friends, you read reviews beforehand. When you want to buy new shoes, you ask for your opinion on Facebook or go to a trustworthy blog to read a review. Many companies today incorporate review systems in their services and products. Think of Uber or Airbnb. They all do their best to ensure that poor service will be detected and excluded from their business. 7. Customer feedback gives you data that helps taking business decisions There is no place for business decisions based on loose guesses on a highly competitive market. Successful business owners gather and manage distinct kind of data that helps them develop future strategies. Only in this way they are able to adjust their products and services to perfectly fit customer needs.