Studio Flats In London

Rental Property Security Deposits

A security deposit is money payed by the tenant to the landlord to cover any repair to the property, caused by the tenant.  The security deposit should be placed in escrow by the landlord, until the lease on the property is completed.  Security deposits can vary in amounts, but are usually one month’s rent.  Some landlords charge extra amounts for tenants with pets, considering the amount of damage a pet can cause. The deposit is to be returned to the tenant at the end of the lease, provided the property is in the same condition as when it was rented.

Now, how do you protect your security deposit, and insure you will get it back?

Document the condition of the property before you move in.  Take a walk through with the landlord or property management company, and note any damage or abnormal conditions of the renal property. Take some pictures of the property to show the overall condition.  Have the landlord or property management company sign off on your notes, just in case you would need them in a dispute later. This first step can be very important.

While living in the property, if you to make any changes or improvements, check with the landlord or property management company first.  Even something as simple as painting a wall, should be cleared with the property owner first. The owner might be okay with the change, but will require you to change it back when you vacate the rental property. In addition, if you have an idea for property improvement, let the owner know what your idea is.  They might really like you idea, and provide help and materials. If any damage occurs to the rental property that is not related to the renters negligence, should be immediately relayed to the owner or property management company.  Don’t just fix the problem yourself, you could be blamed for it later.  Pets can cause lots of damage, so make sure yours is house broken.

When getting ready to move out of the property thoroughly clean the whole property.  You should try to make sure the rental property looks better then when you moved in.  Shampoo carpets, clean bathrooms (including toilets), clean the kitchen appliances inside and out, and patch any holes in the drywall.  It’s good idea to have some touchup paint to cover any marks you have made. 

Lastly, when you are ready to turn the keys back in, take another walk through with the owner or property management company.  Use the checklist you created when you first moved in, to address any issues.  If the landlord finds any problems, offer to fix the issues before you completely move out.  Make sure you give your new address, so the security deposit can be sent.  If you follow these simple steps, and treat the rental property like it’s your home, you shouldn’t have any issues with getting your security deposit back.

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In the end of 2005, the employees of Moscow’s real estate agency Penny Lane Realty encountered the unexpected problem. Daily people called company with the question : “I want to purchase an apartment and immediately rent it out to clients, who I can talk to?” The answer was not easy, because sales and rent in Penny Lane Realty are responsibilities of two different departments. As a result for people involved in this type of situation company gave out a special phone number, which did not stop ringing the entire following year. Penny Lane Realty employees they were very proud of the way they resolved this problem, but suddenly bells ceased.

Number of people who desired to become private investors in real estate nowadays are very limited, and many of those, who were involved in this business past years, are now parting with the last properties they own, because the apartments in Moscow for rent are no longer bringing huge and stunning income gains in tens of percent annually as it used to before. Last week for the first time investments into real estate yielded in the plan of profitableness to long-term deposits into the banks.

Real estate market huslers depart, prices of real estate in Moscow are reducing – even if it just a little, but for a few months in a row. It seemed this was the desired results for Russian government, that this was what most of the Russian middle class wanted, which in had no way to allow themselves to purchase new apartments, after the last year’s jump of prices. But real estate experts are calm – in their unanimous opinion, the only consequence of present “stagnation” will be the clearer price separation of the apartments in Moscow into the elite and of the economy-class. The latter will fall in price, but not too much. There was no bubble, therefore, it won’t burst. It turns out, “valid” price on the real estate, which is not influenced by the investors, who purchase entire houses, but only by demands of future tenants and the proposal of builders – is not too differed from “invalid”, black market price. As one of the salesmen of real estate cynically noted, “Moscow still lags on the average price of the apartments behind New York or London”. Principally situation will change only, if many new houses appear on the market – but there are no prerequisites for this.

For more info please visit my website at www.eng.realtor.ru

Dubai… A great place to live and property investment!

The Dubai Properties and Real Estate Blog is a resource center for international property investors. Being the commercial hub of the Arab world, Dubai saw property boom since 2002 when the government had permitted foreigners to invest in Dubai properties in order to boost Dubai and as well as the whole UAE real estate market.. For a few years now, some have been saying that the Dubai property bubble was about to burst and that a property crash was just around the corner. Yet, prices kept increasing and such doom mongering proved unfounded. The Dubai property market is unique in many ways, and as such doesn’t follow the general rules of other property markets around the globe and other Middle East property markets. The current rate of return on UAE property investments is in the region of 10 – 15 percent per annum, with this rate expected to continue for the foreseeable future, and rental yields in excess of 10% are further evidence of strength in the property market. The growth in the tourism industry of Dubai has been phenomenal with the 3.4 million visitors in 2001 expected to rise to over 6 million in 2010 – from a standing start the area is becoming a magnet for overseas visitors. Many of Dubai’s property developments set out to emulate the most prestigious residential addresses in the world. However, the less glamorous middle-income gulf or Middle East real estate market is increasingly drawing the attention of savvy investors. Dubai Properties is one of the biggest and has said it will deliver 5,000 units to the freehold market in 2008 which is not nearly enough to meet surging demand. Abu Dhabi property market will not deliver a single new real estate unit this year, and deliveries will only start late in 2009, and that creates additional demand in Dubai.

The Mediterranean island of Malta has recorded the strongest growth in property prices from countries in the European Union, and recent news could help see property inflation in double figures for the next few years. Malta is not only a tax efficient location with beautiful costal properties for sale or rental, but its warm climate, beautiful sea and days full of sun will help you relax and retire in a friendly and safe environment for Mediterranean property investment. Sustained property inflation at levels seen in Malta are rarely seen in other countries, but new economic activity on the island could see property demand at good levels for some years to come. The introduction of low cost flights to Malta from the UK will open up the possibility of more international real estate investors looking at the island for holiday homes that could be used for long weekends, and the Malta hotels industry could reap the benefits of the 3 and 4-day tourist seeing the island as a viable place to visit. After some years of wondering how Malta property market would fit into the modern world, property agents, hotel owners and the Malta holidays industry are beginning to see the future with some optimism.

Due to the gains in housing equity in the past 20 years, more people have been seeking to invest in housing, rather than other forms of investment. In the UK there has been a rise in the number of private buy to let investors. Similar to an increase in the buy to let sector, there has also been an increase in demand for houses from oversees property buyers. This has had a significant effect in boosting real estate demand, especially in London. In terms of land mass the UK is an incredibly small country yet it attracts amongst the highest levels of immigration in the world. the supply of property is always restricted in the UK and that exaggerates price swings and ensures a recovery. Those more patient buyers from Arabia will find themselves well rewarded.