Month: August 2018
If you need to rent commercial property in the West Midlands then you’ve got a lot of choice for areas to find property. The area has a rich history of industry and so many types of buildings are available, however, where ever you decide to rent, it is important that you ask your agent the right questions, so you understand everything about your rental agreement.
Who is responsible for what?Internal and external maintenance: Find out if it is you or the landlord who is responsible for wear and tear on the property, both internally and externally. Also try to find out what is classed as wear and tear.Meeting the standards: Find out if the building meets the standards for health, fire and safety and that it has any certificates you need. Also find out who is responsible for maintaining and checking these standards.Insuring the building: Find out if you’re responsible for the building as well as the contents insurance. It may be included in your rental fee.Getting the correct classification: Find out that the building your intend to rent has the right classification to run the type of business you intend.Disabled access requirements: Find out if it is you or landlord who is responsible for making sure the building meets the required standards.Your rent and what it coversWhen and how it’s paid: Find out when and how the rent should be paid. Also find out what happens if your payment is ever late.Your deposit: Find out how much your deposit is, but also the terms of claiming back your deposit at the end of your tenancy.What’s included: Find out what your rent covers, for example, business rates, site security, share facilities, cleaning services etc.Possible changes: Find out what possible rental reviews there will be in the future.The premises itselfRestrictions on usage: Find out if there are any restrictions on how you can use your building, for example, are you allowed to sublet.Access: Find out what access you have or don’t have, and whether this might restrict the running of your business.Security: Find out what security is available for the site and whether it’s up to standard and how it’s paid for.Ending your lease
Even though you’re just thinking about starting your lease, you need to think about when it ends too.Break clauses: Find out if you should break your lease early, what penalties are levied.What to do next
Now you know what questions to ask, it’s time to start contacting some agents to find soem West Midlands commercial property and see what’s available on the market.
Property depreciation is defined as the decline in value of a building and its assets over the time due to wear and tear as well as physical deterioration. Depreciation on rental property or investment property is treated as an expense and is a part of the income statement. Actually property depreciation can be applied only to the building and not the land, since land is not considered to wear out over time.
Generally there are two types of costs that can depreciate for an investment property;
1. Wear and tear of the fixtures and fittings of a property. 2. Capital works deductions, which are applicable to the cost of the construction and are spread over the lifetime of the property.
One of the biggest advantages of property depreciation is that they are non-cash deductions. It means that you do not need to outlay funds for claiming the deductions. The Australian Taxation Office (ATO) allows you to claim the depreciation on rental property because they realize that the value of fixtures, fittings and other assets of a building reduce over time and will require replacement.
Claiming depreciation on rental property, will help you to offset the rising cost of interest rates. Just like you can claim wear and tear on the car you purchased, you can also claim property depreciation on your investment property.
Calculating property tax depreciation schedule is a complex task, which requires skill and experience in both construction costs and tax laws to generate an accurate report.
It’s important for property investors to at least investigate whether or not they are eligible to any tax deductions on their investment property. The easiest way to find out is to contact a reputable quantity surveying firm such as Property Returns, which specialises in preparing property tax depreciation report for residential as well as commercial properties. We will just ask you a few standard questions to ascertain whether it is worthwhile, and how much deductions you can claim. The fee to prepare a tax depreciation schedule is 100% tax deductible.
How much property depreciation you can claim?
The amount of property depreciation deductions you can claim depends on the four factors, mentioned below:
1. Plant Assets: The value of plant asset items bought with the property at settlement. 2. Building Allowance: The historical cost to build the original structural element of the property, note that this allowance is only applies to properties built after 1988. 3. The cost of any improvements like renovations or extensions on pre-purchase property to change the original structure by the previous owner. 4. The cost of any expenditure by the owner after settlement is considered as post purchase expenditure.
This is a quiz. Name just one of the top legitimate work at home jobs that is easy, fun, extremely profitable, AND you can do it from your favorite easy chair
Go ahead I’ll wait right here for you.
Oh good you’re back! Well, what did you come up with?
OK – here’s my answer property scouting. Why? I’m glad you asked.
Property scouting is backed by a legitimate multi-million dollar corporation that has every tool a property scout ever needs, and has created a very easy and very legitimate work at home system just about anyone can do.
Property scouting is easy because every property scout is told exactly where to go to find the pertinent information, precisely what do look for, and specifically what to do with the information once the scout acquires it.
Property scouting is fun because the property scout has massive virtual real estate to investigate to find promising properties that meet concise requirements, so there is absolutely zero wasted time. Ever.
Compared to other legitimate work at home jobs, Property scouting is extremely profitable because anyone willing to put forth a reasonable and consistent effort can earn an extra $30,000.00 all the way up to $300,000.00 or more per year. Only property scouts pick the number.
Property scouting can easily be done from your favorite easy chair with only a computer and telephone, or is of course just as easy to do from your home office or even your kitchen table. The property scout determines all of this.
And here’s a bonus. You don’t have to buy stuff, stock stuff, aggravate everyone you know, sell anything, buy anything, work long hours, or do one thing for anyone but yourself and the people you care about. Zero.
Now do you understand why of all the legitimate work at home jobs -property scouting is the darling’ of 2007 and beyond? Hint there will always be more real estate available than any thousand people could research, too so go get yours now as a property scout!
Real estate buyers and owners who need to find current market price of their property or real estate rates in India can now do so online from the comfort of their home or office. Zamanzar.com is the first Indian real estate portal to release an online tool that lets anyone calculates a property value estimate (ZamEstimateTM) within seconds for properties in Delhi NCR, Mumbai, Ahmedabad, Pune, Jaipur, Lucknow, Bangalore, Hyderabad, Chennai, and Kolkata.
Here are the steps to follow
1. Go to Zamanzars online property valuation tool.
2. Enter your brief contact details.
3. Enter brief details about the property and submit the form.
4. You will get a price estimate (ZamEstimte) based on the property details you entered.
5. You will get an accuracy percentage that will help you understand how accurate the estimate might be.
6. You will also get a list of similar property listings based on which the result has been calculated.
7. You can also get this report emailed to you by checking a checkbox while submitting the form.
Here is the ZamEstimate for a 3 BHK Apartment with a covered area of 1500 sqft in Airport Road, Bangalore.
It comes out to be about 53 lakhs with error percentage of about 11%. This estimate will change based on the kinds of property listings submitted on Zamanzar.com
The process we follow for calculating the price estimate is as follows
1. We search through thousands of properties in your city.
2. We choose the most similar properties based on a similarity score calculated for each property.
3. We adjust the price of the most similar properties, if needed.
4. Your property’s ZamEstimate is the average adjusted price of the most similar properties.
The tool is currently in Beta mode and we will continuously improve it to add many more parameters based on user feedback. Please let us know what you think about it!
ZamEstimate is based on the kind of property listings we have in the database at the time, and is thus limited in terms of accuracy. It is intended to give you a decent idea about the property rates in that particular locality. Zamanzar.com also offers an offline, manual property valuation service for a fee where you get a written property valuation report signed by a licensed property surveyor.
Zamanzar.com is currently ranked within the Top 10 real estate portals in India according to Alexa traffic rank. The company was started in 2007 by Nisheeth Ranjan, a graduate of Cornell University and Stanford University, after having worked in Silicon Valley, California for more than 10 years. Zamanzar.com provides an end to end solution for buying/renting/selling residential or commercial real estate across India. The real estate portal has more than 200,000 property listings and offers online and offline services for buyers, renters, owners, agents, and builders. These services include online marketing, property tours, property appraisals, title checks, financing, negotiation, legal paperwork, property registration etc.
There are several reasons why people choose to buy a second property abroad.
Ownership of property outside the UK is increasing in popularity. Fuelled partly by lower house prices and better climates, and made more favourable still by low-cost airlines, the appeal of a second property abroad is understandable. Once the preserve of the rich, a holiday home in Spain, Portugal, France or anywhere in the world for that matter, can now be acquired easily by the majority of the UK population.
There are three top reasons that people choose to buy a property abroad:
To live permanently in a new country
Some people move abroad for work, whilst others choose to retire outside the UK. Moving to a new country on a permanent basis is a challenge and a risk, and so many people choose to buy a property abroad, whilst keeping their UK home and renting it out. This means that they have somewhere to come back to should things not work out as planned. For many, moving to a new country is one of the best experiences of their life. The chance to live in a new culture; learning the language, eating new foods and soaking up the sun, is exactly what people are looking for.
To have a permanent holiday base
Some people like nothing more than the security of having a permanent holiday base. You know where to go, what shops are available, where the best beaches are and what attractions are nearby. You dont have to waste any of your holiday time getting acclimatised and your accommodation is a home-from-home. Whats more, you can visit it as often as you like throughout the year, and you can invite friends and family to come along and enjoy the holiday with you, or lend it to them so that they have a ready-made holiday base of their own.
To rent to other holidaymakers
Many people choose to cover the costs of buying and running their property abroad by renting it out. There are two main ways to do this; hiring an agent to rent the property on your behalf, or handling all the rentals yourself. An agent will take a percentage fee, but will handle all the bookings, cleaning and maintenance of your property. If you manage the rentals on your own, you will need to find someone trustworthy who can clean and prepare the property for your customers and handle any issues that arise when people are staying in your property. Renting is a very effective way to cover costs, and even to make a profit, but you have to limit the times when you can use the property and be prepared for damage and wear and tear to increase.