A good ad is that which is just of the right length. Good property advertisement contains the exact description of the property. It discusses the type of the property that is advertised. What are its dimensions? What are the key characteristics of the property? Good advertisement also contains the number of rooms that are in the property and also about any special things that should be mentionable to make the property more attractive to rent out for the customers. Good real estate agents as well as owners don’t demand unfair rent for a typical property. They know that it would not only distract the customer from getting the property on rent but it would also waste the time and effort put in placing the advertisement. If you haven’t got the right idea of the rent of the property you are about to rent out, it is better to check it out. This way, you would be able to better judge what should be the right ask for the property.

There are many places where you can place your property’s advertisement. You have to start the advertisement from the property itself. Make a card board sign saying available for rent and hang around the most visible part of the front of the house. Give the advertisement to the most read local newspaper. It is better to put some money in good newspaper which paying people read, instead of wasting all the money without any purpose. Also use internet and do give your advertisement to the most visited local real estate website of your area. Even if you have to pay some nominal amount to a local website, it is better then waiting for a long time and loosing the potential rent for that time period.

Source:

Dubai Property

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On the other hand if the interest rates are low then going for payment of cash is not good. It is then better to pay through mortgage. If you are already running a business then it is better to use the mortgage option. This will help you in two ways. Number one benefit is that you will be able to charge it against depreciation and that would in an indirect impact result into reduced income, thus reducing the income tax you have to pay. Second effect is that you would also add the interest expense on the mortgage that you have to pay. By applying the mortgage you can now further reduce your income resulting into again reduced income. This double impact would help you save a lot of tax for your business. Buying a property on mortgage is not advisable in certain situations. You must not buy a property through mortgage if the cash flows from your business or other earning sources are uncertain. Apart from your financing constraints the other primary concern is of the future earning ability. By the development of the area you can easily determine where the area will stand in the next 5 to 10 years. It is better to invest in a commercial real estate with an assumption of return in 5 to 10 years. If you are risking your money for longer then that, this would stretch the risk level too high.

You also have to calculate the way in which you would use the building. There are many uses of the building. It all depends on the way you want to use it. You can either rent it out for residential purposes till the time comes that it has commercial value as well. This will also help you recover some of the investment to maintain the property and also to pay back the installments if you have gone for the mortgage option. Simply follow these steps and do take opinions of other trust friends in real estate as well and you are sure to taste huge success.

Source:
Dubai Property

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The top real estate news from India for this week are:

.Five lakh low-cost houses to come up in Mumbai

The city is all set to witness the mushrooming of affordable housing with five lakh units of middle and lower income housing expected to come up in the next five years. Announcing this, Mumbai Metropolitan Region Development Authority commissioner Ratnakar Gaikwad said this move is expected to bring down the cost of housing in the city.

.Triangle realty fund buys 27% in Prozone arm

The real estate fund, co-promoted by ICS Group and Old Mutual Investment Group Property Investments, has inked an agreement to invest Rs 457 crore for a 27 per cent stake in a Prozone Enterprises. The firm has stake in four projects being developed in Aurangabad, Indore, Nagpur and Jaipur, covering approximately 16 million sq ft.

.Indiabulls gets shareholders’ nod for acquiring Dev Property

The company has received shareholders’ approval for the acquisition of Dev Property Development Plc for 138 million pounds. The shareholders have approved the acquisition of all shares of Dev Property.

.Mantri Realty to invest 500 cr in Madhya Pradesh

Real estate firm Mantri Realty plans to invest Rs 500 crore at Gwalior in Madhya Pradesh to set up a residential township and an IT SEZ. The township, christened Mantri City, would comprise of 10,000 houses on 16 million sq ft, while the IT SEZ would cover 5-million sq ft.

Other important real estate news from India include:

.Pune Builders join hands to float national association

In the first week of March, seven city real estate associations signed bilateral agreements with the newly formed National Association of Realtors – India (NAR- India), which in turn has forged an alliance with National Association of realtors, USA to give itself an international appeal. NAR-India has also kick-started the process of training estate agents for transnational referrals.

.Emaar MGF join hands with Marriott to develop hotels

The real estate developer has partnered with Marriott International Inc to design, construct and equip luxury-branded JW Marriott Hotels with total investment of over $400 million. The hotel projects are likely to be completed by 2010 end and will come up in New Delhi, Hyderabad, Kolkata and a Courtyard by Marriott Hotel in Amritsar.

For more details on Real Estate News India, log on to magicbricks.com

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Real estate segment in India is growing beyond leaps and bounds. Property segment has seen record investments in the last one year. Many foreign investors have shown their interest in the Indian property segment. The number of realty funds catering to the Indian real estate is also on the rise.

Magicbricks.com scans media reports for real estate news. Here are the top current headlines.

• Moneylenders funding realty boom in hard times

• With banks increasingly restricting loans to developers, moneylenders have stepped in to play their part. Builders have been approaching them in droves for loans at phenomenal interest rates ranging anywhere from 20% to 36% annually.

• Real estate gains await Modern India

• Mumbai-based Modern India is bucking the bearish wave that has engulfed real estate companies of late. Over the last one week, the stock has gained close to 16%.

• Rs 8,000 crore premium realty projects face delay

• According to industry estimates, around Rs 8,000 crore of real estate projects covering over 40 millon square feet are facing delays. Analysts said the construction cost for large commercial projects was Rs 2,000 per square foot, on average.

• Relax FDI, PE norms for small city builders

• The real-estate industry in Coimbatore wants the Centre to tweak the FDI and foreign Private Equity (PE) investment norms in real estate in small cities so that these fund sources are able to extend them a lifeline.

• You may have to pay more for home loans

• Rising home loan interest rates have affected the real estate industry. The property prices in Jaipur are stable for the past one-year. Many of the major projects in the city have not got buyers during this period.

For more detail on Real Estate News India, log on to magicbricks.com

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To understand how FROR works, let’s have a look at this example. Mr. A owns an apartment and rents it out to Mr. B. After living there for some months, Mr. B develops an interest in purchasing that apartment, for some reasons the transaction cannot take place straight away. However, Mr. B asks for an FROR agreement and Mr. A agrees. Now, once the agreement is signed by Mr. A, he is now restricted to offer this apartment to Mr. B before he finalizes the deal with any other party. For example, when he’s approached by a third party with an offer of say, $450,000 USD, and he is willing to accept, he must first contact Mr. B and make an offer for him to buy this apartment for the same amount ($450,000). It is only after Mr. B refuses to buy, when Mr. A will be free to sell the property to the third party. Remember, Mr. A can not ask for a better price, he must offer the property to Mr. B for the same price, which was being offered to him by the third party.

Question is why a seller in his /her right mindset would agree on presenting someone with an FROR contract. Answer is, because it doesn’t really hurt the seller in anyway. However, there are some minor plus and minuses attached to this contract. For example, seller can ask for a small amount as a fee for an FROR contract, also such contract may add a little value to the property. Coming to the negative side, real estate agents are reluctant to deal with such properties, in case the holder of FROR accepts the offer and make a purchase; the agent will be deprived of any commission whatsoever. However, the best thing about First right of refusal is that it doesn’t have some predefined clauses or terms, seller and buyers are free to negotiate and jot down their own specific conditions.

There are some modified versions of FROR as well, one of them is Right of First Offer, in which seller has to approach the holder before putting the property on sale.

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