Archive for March, 2015

6 Things Every Landlord Should Have

What does it take to be a good landlord? A lot of you might think it’s easy. There’s a stereotype attached to the landlord; a lot of people see them as making easy money and doing not a lot for it. But the reality couldn’t be more different. Here are 6 things every landlord should have.

1. The Ability to Multitask

As a landlord, you’re going to have a lot on your plate. You’ll be dealing with problems that your tenants have, trying to get that pesky handle fixed and sorting out your tax payments. There is rarely a quiet moment for landlords.

It’s not the job for you if you struggle to keep lots of plates spinning at the same time. It can be fun too though! The quiet, boring life isn’t for everyone.

2. A Good Lawyer

There are all kinds of problems that can arise from being a landlord. And, unfortunately, some them will require the help of a lawyer. If you’re thinking about becoming a landlord, find yourself an honest, reliable lawyer straight away.

Many landlords face disagreements with tenants, so you need a lawyer in your corner to fight any legal battles that arise.

3. A Nose for a Potential Bargain

The first thing a potential landlord needs to do is find the right property. The best place to start the search is at property auctions; you’ll find a lot of great bargains this way.

Make sure you do a lot of research beforehand if you are going to buy at auction though. Most auction properties have problems and faults, that’s why they’re on the market at low prices. So prepare yourself for a renovation job.

4. A Trusted Builder

You can undertake all that building work by yourself if you like, but it’ll be a lot quicker (and probably a lot better) if you use a professional builder. If you have a friend who is a builder, or you have a trusted builder you regularly use, get in contact with them.

You’ll need to use builders regularly and have them make checks to the house. Therefore, it’s best to build a long-term relationship with your builder, rather than use a different one each time.

5. The Right Insurance Policy

Fire damage, flood damage and malicious damage are just some of the ways in which catastrophe could hit your property. Think about it, you don’t know your tenants well. You hope that they’re responsible, but you can’t always be sure.

That’s why it’s so vital to have the right landlord insurance in place. There are websites that offer you the chance to compare landlord insurance, so take full advantage.

6. Patience

You can face so many problems as a landlord and losing your temper won’t make those situations any better. In fact, that’ll make a bad situation a lot worse. Patience is the key to keeping everyone happy and resolving conflicts.

So, if you’re no good at diplomacy, you might want to look elsewhere for a new career path. But if you know how to stay cool under pressure, why not take the plunge and go for it?

2

Image Source

Resources: Property Solutions Hua Hin

5 Tips for Getting the Best Insurance Policy for You

1

Image Source

A lot of people can take up a car insurance possible and just keep renewing it without thinking about the alternatives. Yes, this might be the easiest thing to do, but it certainly isn’t the cheapest. Don’t fall into a comfy habit, look for what you need from an insurance policy.

There’s no sense in throwing money down the drain. This is something not many of us can afford to do, and we don’t need to either! Here are 5 tips to get you thinking about if your policy is the right one for you.

1. Think About Your Cover

Most people get comprehensive cover on their insurance policy. This is just sensible, isn’t it? Well, not necessarily. Comprehensive might sound great, but I don’t think most people need it. For example, do you really need a free courtesy car when you breakdown? Check all the small print and make sure you want everything that you’re paying for.

And remember, you can adjust your excess level. The higher you raise it, the better deal you’ll get. You can pay for those small problems with your car without the need to make a claim on your insurance.

2. Compare

We’re all told this all the time, but it needs repeating. Compare all the available offers out there before you make your decision. That feeling you get when you find out you could have found a cheaper offer is terrible. Make sure you don’t get that feeling!

There are plenty of websites out there that allow you to compare policies, so take advantage of them. If you run a business, there are also websites that let you compare Motor Trade Insurance. Remember that some companies aren’t available on comparison sites though.

3. How Much Do You Drive?

If you use your car less, you’ll be less likely to make a claim. This is just common sense. Therefore, if you drive your car less, you should also pay less on your insurance premiums.

You should submit your yearly or monthly mileage to your insurance provider. You’ll find that you could save a great deal of money if you don’t drive very much. Don’t be tempted to lie about your mileage though.

4. Do You Really Need a Second Driver?

If you have lots of people on your insurance policy, the premium will rise. Only add drivers who use the car regularly.You can add people who only drive it occasionally for short periods of time but don’t add them permanently. Also, think twice about adding young drivers.

5. Don’t Throw Away Your No Claims Bonus

The first way to avoid throwing away your no claims bonus is to drive safely and carefully. This might sound simplistic, but there is no better way to keep hold of your bonus than being a good driver.

The other way is to avoid making unnecessary claims. Some people feel like they are just getting their money’s worth by making a claim. But you need to weigh up the benefits and drawbacks of making a claim. Sometimes your bonus is worth more than the money you’d save by making a claim.