by samvak (Member) - published: November 8, 2008 In most developed countries, the renting of residential property (apartments) provides the owner with an annual income equal to 2-3% of the value of his or her real estate. In developing countries, owners make 6-7%. An apartment selling for 100,000 euros will often rent for 7000 euros a year. One pays the same to rent an apartment in Skopje, Macedonia and in Berlin, Germany even though, in Berlin, apartments are three to five times more expensive to buy.
Why this excess yield?
Five reasons:
(1) Limited supply. Despite the construction craze of recent years, there is still a shortage of apartments, especially properties to let.
(2) Criminals and politicians, whose sources of funding are unlimited, jack up the prices and rarely bargain. They use other people's money to pay for their luxuries and don't care to save or to secure a reasonable price.
(3) Foreigners who live in developing countries are usually employed by NGOs, international financial institutions (IFIs), and multinationals. Their employers pay their expenses and have little time and inclination to haggle over the rent in a crowded market. They pay the asking price every time.
(4) Yuppies - young, upwardly mobile entrants to the workforce, employed mainly in the financial services industry - earn 3 to 6 times the average salary and can afford to pay exorbitant rents.
(5) The process of urbanization in developing countries is unrelenting. Tens of thousands of peasants and villagers relocate to the cities every year, with capital cities or commercial centers their main destinations. They support rental prices by increasing the demand, although they cannot usually afford the more expensive apartments.
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Tuesday, November 25, 2008
Wednesday, November 19, 2008
Turn Your Balcony Into a Retreat
Turn Your Balcony Into a RetreatA crispy fern flanked by a flapping towel and a bike with two flat tires—sound like a balcony near you? As close as your own French doors, perhaps?If what you really want is a cozy place to barbecue, or an enchanted and enchanting retreat—no problem. With just the tiniest bit of attention and effort, you can transform even a swath of bleak and cheerless concrete into almost anything.First, figure out what kind of weather your balcony has to withstand, said Elizabeth Blome of Open Window Designs in Houston. A northern exposure will limit plant choices to shade-tolerant varieties, while a west-facing patio will be hard on decorative objects like wreaths and topiaries, which can crack and fade in the hot summer sun.As for that bike—you get to keep it."Our feeling is that if you want something, we can make it work," Blome said. "So if the bike is a part of your life, it stays—behind a screen or a lattice or a nice big plant."Decide how you want to use the space, said Helene Schultz, an interior decorator who recently tackled a patio in New York and a balcony in the Virgin Islands. And have fun. Whether you're making a private retreat, an outdoor dining room or dividing a large area into several rooms, an outdoor space should spring from your imagination.Jimenez built an Asian garden for moments of reflection."In some ways, the space in a balcony or patio is a bonus, it's unexpected," Schultz said. "You can go with something as simple as plants and a few chairs, or you can unleash your fantasies and be bolder or more playful than you might inside the home."Bold and playful were Edward Jimenez' bywords when designing the spacious balcony of his Los Angeles condo over the course of six years. At 11-feet wide and 25-feet long, Jimenez had a space large enough to be daunting. He solved the problem by dividing it into rooms—one for dining, one for a garden, another as a sitting room."I wanted it to look like it had always been there, that it was a place that had been cared for by a family over a period of years," said Jimenez, a hair stylist and makeup artist with a large celebrity clientele. He started with a tree and several plants, then added a seating area. When something didn't work, he gave it away and tried again."I went through so much furniture," Jimenez said, and laughed. "My family loves it—I keep giving them stuff that doesn't fit or doesn't work."
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson.
Thursday, November 13, 2008
Renting An Apartment After Foreclosure
This article is for those homeowners who have decided that they can not keep their current home and are seeking to move on, instead of trying to work out a solution that will stop foreclosure.
The situation may be due to a new job in another state that requires a move, a precipitous drop in income that is expected to last long-term, or other circumstances. Because of their poor credit from the foreclosure and falling behind in other debts, however, these homeowners may have a difficult time being able to rent an apartment and start their lives over.
Most landlords will not want to discover the fact that the homeowners are currently behind on their mortgage payments or had faced a very recent foreclosure. That will indicate to them that the apartment applicants do not take their housing payment obligations very seriously, and may pay the rent late or not at all. The foreclosure victims will have to find a way around the credit check, if they are serious about renting an apartment and proving their financial integrity.
One way they can do this is to find a landlord that they know, or talk to someone (friends/family) in the area that in which they want to move, and ask if they know of anyone that would allow apartment rentals without a credit check. The key is for the homeowners to let the potential landlord know that their credit is not great at the present time, and that they are not willing to damage it even further with more inquiries, but that they want to have an opportunity to start recovering their financial situation. A lot of landlords will be reasonable if the situation is explained to them very clearly, and if the former homeowners make a good first impression.
If the foreclosure victims do not know any friendly contacts in the area, though, they will have to offer the landlord an incentive to decide not to pull their credit histories and discover the late payments and foreclosure. For this purpose, they can offer an extra amount as a security deposit, or offer to pay an extra 2-3 months rent up-front, in exchange for the landlord not conducting a credit check.
The offer of more money is a very powerful incentive for landlords, as they will be able to use the extra resources for current projects and investments. If the former homeowners need a "cover story" to explain their unwillingness to have their credit pulled, they can use the one in the paragraph above, or simply inform the landlord that they are very private and do not want to give out their social security number and financial information to anyone, since they have been a victim of identity theft in the past.
This can be useful to explain their poor credit situation as well as the reason they can not give away any personal information that can be used to pull a credit report. Extra cash in the form of a security deposit or extra rent will usually help the landlord see things from the foreclosure victims' perspective.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson
The situation may be due to a new job in another state that requires a move, a precipitous drop in income that is expected to last long-term, or other circumstances. Because of their poor credit from the foreclosure and falling behind in other debts, however, these homeowners may have a difficult time being able to rent an apartment and start their lives over.
Most landlords will not want to discover the fact that the homeowners are currently behind on their mortgage payments or had faced a very recent foreclosure. That will indicate to them that the apartment applicants do not take their housing payment obligations very seriously, and may pay the rent late or not at all. The foreclosure victims will have to find a way around the credit check, if they are serious about renting an apartment and proving their financial integrity.
One way they can do this is to find a landlord that they know, or talk to someone (friends/family) in the area that in which they want to move, and ask if they know of anyone that would allow apartment rentals without a credit check. The key is for the homeowners to let the potential landlord know that their credit is not great at the present time, and that they are not willing to damage it even further with more inquiries, but that they want to have an opportunity to start recovering their financial situation. A lot of landlords will be reasonable if the situation is explained to them very clearly, and if the former homeowners make a good first impression.
If the foreclosure victims do not know any friendly contacts in the area, though, they will have to offer the landlord an incentive to decide not to pull their credit histories and discover the late payments and foreclosure. For this purpose, they can offer an extra amount as a security deposit, or offer to pay an extra 2-3 months rent up-front, in exchange for the landlord not conducting a credit check.
The offer of more money is a very powerful incentive for landlords, as they will be able to use the extra resources for current projects and investments. If the former homeowners need a "cover story" to explain their unwillingness to have their credit pulled, they can use the one in the paragraph above, or simply inform the landlord that they are very private and do not want to give out their social security number and financial information to anyone, since they have been a victim of identity theft in the past.
This can be useful to explain their poor credit situation as well as the reason they can not give away any personal information that can be used to pull a credit report. Extra cash in the form of a security deposit or extra rent will usually help the landlord see things from the foreclosure victims' perspective.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson
Friday, November 7, 2008
In every industry, in every market there is so much choice, this is certainly true of the lettings market in the UK. Reportedly there are now over 10,000 letting agents in the UK so the choice is out there. So what can be expected to be paid out with respect charges that agents make to you before you move in to the property?
Retaining Deposit - So you have found your ideal rental home and have said to the agent that you would like to rent it. Often you will be asked for a retaining deposit, this is basically covering the agent in case you change your mind or fail the referencing checks. If you have any doubts as to what the policy of the agent is regarding the retaining deposit then it is advisable to ask to see the agents retaining deposit guidelines. Administration Charges - Often agents will charge for their time with respect administration, this is something to look out for and would be advisable to ask about before handing over a retaining deposit. It will vary from letting agent to letting agent depending on their policy. Referencing Charges - The agent will run through a reference check in order to ensure that you do not have any known outstanding arrears. This check is performed using third parties and will normally take no more than a few days to complete. Usually this will be charged back to the tenant and also be aware if the reference check is failed then it is highly unlikely that the retaining deposit will be received back. Tenancy Deposit - The tenancy deposit is payable to cover the agent in case the property is damaged during the tenancy. It is normally 1 months rent value and is payable up front at the time of move in. Ensure that any damage that is found in the property is made clear to the letting agent before the tenancy agreement is signed in order that this can be noted that it was not caused during the upcoming tenancy. Any damage that is found when you move out will be taken out of this deposit. Normally you can expect to receive the deposit money back 1 month after your move out date.
For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson
Tuesday, November 4, 2008
Don't Let Your Move Stress You Out - Five Simple Steps to Make it Easier
Don't Let Your Move Stress You Out - Five Simple Steps to Make it Easier
(ARA) - According to the U.S. Census Bureau, the weeks between early May and Labor Day weekend mark the busiest time of year to move. It's estimated that more than 21 million Americans will move this summer. Some moves will go smoother than others, and while there's no way to guarantee a problem-free experience, there are things you can do ahead of time to make the process easier.
"Anticipating tasks that may cause frustration and headaches on moving day is crucial. People want to enjoy settling into their new home, whether it's finding a dog sitter for moving day or connecting their cable services, planning ahead will guarantee less stress for the entire family," says Leslie Levine, a moving expert and author of "Will This Place Ever Feel Like Home?"
Levine, who has helped millions of people move, urges movers to avoid five common mistakes before packing things up and hitting the road.
1) Don't put off calling utility providers (electric, cable, gas, etc.) to schedule the disconnect date of your services. This can be done weeks before the move when you have more time. And now, connecting services at your new home couldn't be easier.
To set up your cable, high-speed Internet and phone, all you have to do is log on to www.cablemover.com and click on "find your cable company." Movers enter their new ZIP code and are directed to their new provider's Web site (where they will receive special moving offers). Customers can schedule their cable services, such as digital cable, high-speed Internet and phone service, or bundle all three in a package for potential cost savings. Movers can also access the free service by calling the toll-free Cable Movers Hotline (877-9TV-MOVE).
2) Don't forget to inform your insurance companies about the move. Coverage can vary from state to state and most insurance companies' provide up-to-date information on their Web sites.
3) Don't forget to pack a travel bag that can be easily accessed when you arrive at your new home. In preparation for a move, people tend to pack away essentials that are difficult to find following a hectic move-in day. Pack your bag as if you are going away for a weekend, include medications, a toothbrush, toothpaste, a change of clothes and other daily essentials.
4) Don't expect to get every picture and painting on the walls during the first week. Instead of cleaning or unpacking the first night in the new home, take a break, relax and watch a favorite program with cable On Demand. If the boxes just can't be left alone, check out a favorite DIY show for home improvement tips while working to make the new place feel like home.
5) Don't try to do everything alone. For big home improvement projects, hire a professional. Pick a few projects to do with the family and then hire someone to do the time-consuming projects like painting and hanging wallpaper.
"Any steps that can be taken to simplify a move are worth considering," adds Levine. "I recommend all movers do some advance planning to take the stress out of their move." For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson
(ARA) - According to the U.S. Census Bureau, the weeks between early May and Labor Day weekend mark the busiest time of year to move. It's estimated that more than 21 million Americans will move this summer. Some moves will go smoother than others, and while there's no way to guarantee a problem-free experience, there are things you can do ahead of time to make the process easier.
"Anticipating tasks that may cause frustration and headaches on moving day is crucial. People want to enjoy settling into their new home, whether it's finding a dog sitter for moving day or connecting their cable services, planning ahead will guarantee less stress for the entire family," says Leslie Levine, a moving expert and author of "Will This Place Ever Feel Like Home?"
Levine, who has helped millions of people move, urges movers to avoid five common mistakes before packing things up and hitting the road.
1) Don't put off calling utility providers (electric, cable, gas, etc.) to schedule the disconnect date of your services. This can be done weeks before the move when you have more time. And now, connecting services at your new home couldn't be easier.
To set up your cable, high-speed Internet and phone, all you have to do is log on to www.cablemover.com and click on "find your cable company." Movers enter their new ZIP code and are directed to their new provider's Web site (where they will receive special moving offers). Customers can schedule their cable services, such as digital cable, high-speed Internet and phone service, or bundle all three in a package for potential cost savings. Movers can also access the free service by calling the toll-free Cable Movers Hotline (877-9TV-MOVE).
2) Don't forget to inform your insurance companies about the move. Coverage can vary from state to state and most insurance companies' provide up-to-date information on their Web sites.
3) Don't forget to pack a travel bag that can be easily accessed when you arrive at your new home. In preparation for a move, people tend to pack away essentials that are difficult to find following a hectic move-in day. Pack your bag as if you are going away for a weekend, include medications, a toothbrush, toothpaste, a change of clothes and other daily essentials.
4) Don't expect to get every picture and painting on the walls during the first week. Instead of cleaning or unpacking the first night in the new home, take a break, relax and watch a favorite program with cable On Demand. If the boxes just can't be left alone, check out a favorite DIY show for home improvement tips while working to make the new place feel like home.
5) Don't try to do everything alone. For big home improvement projects, hire a professional. Pick a few projects to do with the family and then hire someone to do the time-consuming projects like painting and hanging wallpaper.
"Any steps that can be taken to simplify a move are worth considering," adds Levine. "I recommend all movers do some advance planning to take the stress out of their move." For apartments in New Jersey go to Raritan Crossing. They are pet friendly apartments and New Brunswick NJ apartments. Rentals near Metropark and apartments in Middlesex county. For apartments in central NJ this is the place for you with Apartments in Middlesex County NJ. Raritan Crossing has apartments near metropark, apartments near Rutgers and apartments near Robert Wood Johnson
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