Thursday April 26, 2018
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What To Look for When you Purchase a Rental House

The first key to any area is that people need to have a reason to want to live there

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If you find yourself looking to capitalise on the housing market, then this could be one of the best times to get into the real estate game. However, instead of trying to flip a home like many other people, why not lock in your cash flows for a long period of time and still guarantee that your asset will appreciate over many years? If you are thinking about purchasing a rental house, then consider the following items as the top characteristics for a rental property, according to Investopedia.

Amenities

The first key to any area is that people need to have a reason to want to live there. Some people will always be able to find a reason, and certain quirks in buyers will make even the worst characteristics of a home seem appealing. That being said, if you want to cast the widest net when it comes to finding qualified renters, then you need to think about who will be in the area and who will want to be in the area as well.

Amenities can be anything under the sun, but there needs to be a reason to attract buyers in the first place. This could be wildlife, parks, malls, colleges, entertainment, and other such things because the list just keeps on going. It is important to simply remember that when there are things to do and enjoy, that is when you have found an area that others will want to be a part of as well. If you can find investment, then people will come and will want to live in that place.

For rent. Image source: indianpropertylawyers.com
For rent. Image source: indianpropertylawyers.com

Job Market

The general job market is going to be important because you will want to have qualified renters to rent from you. However, you also don’t want to have a flat-lining pool of possible tenants. Instead, you want it to be growing. You also want to have your potential candidates continue to increase their wages so that they can continue to afford to rent from you (and possibly even affording an increase in other dues as well). The key is that you cannot neglect the other side of the equation, which is thinking about where you will be for the long term.

Assuming that you have a twenty or thirty-year mortgage (if not one that is even longer), then you could be locked into that property for a long time. So, instead of going to an area that is volatile with respect to jobs and the future economy, you want to find something that will keep growing and will continue to attract people in the long haul as well. Knowing the job market means you will know if your product will have enough demand to even succeed as a viable business plan in the long run.

Rents

Paying attention to the rents themselves is one key that you cannot forget, according to an article by Business Insider. It isn’t all about making immediate money as you will be able to make it in the long run if you have a solid property. That being said, you also want to be able to know you are not only clearing your mortgage payments and other obligations but that you are also able to afford anything else that comes up.

When you are pricing an area in general then you will also be able to tell a lot more about the area with respect to the class of people and the types of tenants you will be dealing with. That is just one of the reasons that it is so important to consider searching for properties with top tools such as DDProperty when it comes to actually seeking out the best properties.

Schools

While most people think that a school district is nice just for small families, the reality is a strong school district leads to a lot more. Having a strong school district in a general area means that people who live there are able to afford the taxes, the local government runs the area efficiently, and in general there isn’t a lot of volatility or crime. When you think about an area that you want to open a leasing property operation in, that is pretty much the exact summary of where you want to go.

Furthermore, even if the area suffers some lows for a certain period of time, the areas that get hit the hardest are typically the worse off neighbourhoods, which only means that the areas with nicer schools and a more solid economic base will continue to be sought after.

When it is all said and done there are always opportunities out there to open properties and find good investments in the real estate game. What you want to do is to find the places that give you the best chance at being successful and yielding the best profit for the least hassle and stress.

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  • Vrushali Mahajan

    yes, definitely. These are the essentials for people who are deciding to move in the near future.

Next Story

Does Suspending Students From The Class Work?

The college and faculty should devise a program that lets students freely interact with the teaching staff about their concerns as SUSPENSION of students is not at all a solution

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Representational image for Suspension.
Suspension of students may lead to behavioural issues. Pixabay

Some BBA colleges believe that suspending students from class instils discipline
and in return changes their behaviour. However, this approach is not the right way to
fix problems. Especially, when they have just entered adulthood and are on the
verge of either making or breaking their life. Faculty members should try and dig out
the reason that’s triggering inappropriate behaviour in students. The questions they
need to ask themselves is why they are not learning and why they are showcasing a
weird behaviour. Faculty members must understand that suspension does not fix
behavioural issues, it often makes it worse. For example, MBA, B. Tech and BBA subjects are comprehensive and suspending a student from any of the classes will
make them lose interest in the particular subject. This loss of interest will hamper
grades as the student will not be able to cover the losses due to suspension.

How To Understand the causes of inappropriate behaviour

Faculty members must understand the cause behind inappropriate behaviour with an
aim to guide the students. Behavioural issues can be because of multiple reasons,
some of them include:
 Frustration due to inability to understand the subject
 They are made to feel inadequate
 Unintentionally or intentionally students/teachers are picking on them
 Their efforts are not appreciated
 Biased behaviour of faculty (favouritism)

Suspension may lead to depression.
Suspension may lead to depression. Pixabay

Let’s look why suspension does not work if the student is under any of the above-
mentioned mental state.

Decreased Confidence

With every suspension, students start losing confidence and start believing they are
good for nothing. Even if they wish to give a genuine try, the thought of another
suspension keeps them away from attending classes. Furthermore, they also start
feeling humiliated in front of those who never get suspended and score well. Instead
of suspension, the faculty should sit and have a weekly session with rule-abiding
students to understand what leads to such behavioural issues.

Increased Rebellious Attitude

Faculty members must understand that repeat suspensions instil a rebellious attitude
in students and they might skip the classes for the entire semester. The approach
will not only affect their attendance but their grades as well. The higher the number
of suspensions the lower the scores. Thus, the faculty should maintain a low rate of
suspensions to have no impact on the scores and performance of the suspended
students.

They Become Habitual

The faculty members think that suspension is one of the best ways to handle
disciplinary actions. It might be true in some cases, but one of the most significant
disadvantages it carries with itself is that students become habitual of the suspension. Instead of taking it as a punishment for their betterment, they start
looking forward to suspension so that they can have a great time loitering around the
campus or chilling with friends in the canteen. Here again comes the importance of
maintaining a low rate of suspensions for effective results.

Also Read: 4 Health Tips To Help Students Perform Well In Exam Season

A Close Look at Suspensions

Though suspension seems to be the right choice to change a student’s behaviour, is
the result even effective? Do students fear the suspension? Do they feel sorry about
being regularly suspended? Well, these are the questions faculty members should
keep in mind before they go ahead and suspend any student. As a solution, they
should make the students understand that all this is being done with an aim to help
them. The college and faculty should devise a program that lets students freely
interact with the teaching staff about their concerns. That is the key. Students should
feel that they are an essential part of the education system – they should feel
wanted.