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Use of residential property for business purposes

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Residential property for business purposes

Are you tired of the commute and expenses going to and from your place of work? Maybe you want to control your schedule and prefer conducting business in pajamas because you do your best work at night? Have you been neglecting your spouse and kids working for a boss who is constantly looking over your shoulder? Perhaps you just feel stuck in your job doing the same things over and over again? Whatever your case may be, running a business from home is not that uncommon anymore as people start choosing to do what they love, and turn their passion into income.

Of course, just because you want to start saving on the cost of renting or purchasing a commercial space does not mean you should start refurbishing your house into a shop or a factory. Business relationships in real estate are so important to grow your business.  Not every residence can be incubators for homegrown enterprises. You may have to check first if there is nothing registered on the title of the property that prohibits or restricts business use. If you are living in a mortgaged property, chances are the mortgage agreement will not allow you to conduct business at home. You also need to know the zoning laws to be certain if your home-based business complies with residential zoning restrictions.

You probably won’t be allowed to use chemicals to dye and treat hair as a home-based hairdresser, or to work with animals in a pet sitting business. It is obvious that you cannot create a racket that will annoy your neighbor like operating a commercial-size equipment or coaching a band. In all likelihood, you will also be restricted on the number and size of business signages you can install and the amount of parking space you will use. If you are causing wear and tear in the neighborhood with the volume of traffic your business attracts or the delivery of huge shipping crates, you may have to relocate your business somewhere else.

The suitable homegrown business undertakings are those that still make your house a home and not business premises. With a good Internet connection, you can do graphic designing or bookkeeping at home. At-home tax preparation is an acceptable business if you have a tax background, and also massage therapy if you are willing to take training courses. Copywriters and virtual assistants are also work-at-home staples, and so are translation and medical transcription. Then there is blogging, video production and web design for homes with speedy Internet. Academic jobs like tutoring and physical gigs like yoga can also be reasonably done at home.  Also you can decorate your home for sale with plants, also called home staging.

But the best use of a residential property for a business purpose is through rental. A real estate agency can help you narrow down and complete the purchase of a rental property, but you can also help yourself by looking at a couple of things. You need to check the quality of the neighborhood to know your potential tenants like college students if it is near a university. You also want a place free of criminal activities or near a decent school if you are targeting families. Check for nearby or projected parks, malls, and public transport hubs that can attract renters.

The best investment property for residential rental is a single-family dwelling or a condominium. The former tends to draw families and couples who rent long term while the latter has low maintenance costs as the condo association takes care of external repairs. Look for a realty firm like Karkanja Malta that can meet your real estate investment needs, and start earning money from your property in no time without practically doing that much.

Now you have a great give for commercial real estate. If you would like more information about the topic, contact us.

 

Real estate management software

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Key Biscayne, City of Miami, Miami-Dade County, Florida, USA

The real estate industry, like many sectors, has been affected by the advancement in technology. The creation of various software has led to a boom in the industry. Such software makes the management of property by the owners and facilitators easy no matter the type of buildings one has.

The applications are straightforward to use. In addition, they are efficient and have a quick response time as compared to doing some of the work manually. Some of the duties that the software facilitate include; study of payments either full or partial and the reporting and documentation of relevant documents. These documents include receipts, invoices, and agreements. Some of the best real estate management software available for users such as https://www.karkanja.com/ in the industry include;

 

AppFolio Property Manager

The product runs on different platforms such as apple and windows. It is beneficial to managers in charge of the residential property. The size of the business does not matter since the software may be utilized by small, medium and large real estate enterprises. Some of the key functionalities are marketing, accounting, leasing and management.

Rentec Direct

The management software is suitable for managers who are responsible for units between 25 and 5,000 units. It is a web-based software appropriate for all business sizes. The software comes highly recommended by many users since it has many functionalities. Also, there are no start-up fees, the interface is friendly and training together with customer service is unlimited.

The key features include financial reporting, accounting, a portal that is online for owners and tenants. It also allows credit card processing, tracking of residents and electronic filing. In addition, the company is provided with a website and hosting for promotion.

Buildium

The software is popular with real estate managers that have a large number of units. It is especially beneficial for managers that need to monitor the properties on a daily basis. The functions of Buildium are streamlining of daily tasks, monitoring of vacancies and maintenance procedures. It is suitable for all the business sizes and platforms.

Maintenance Connection

The web-based software allows the tracking and management of costs, equipment failures and maintenance. It also allows resource allocation in the various properties. The product is suitable for medium and large companies since the configuration required makes it complicated. However, it is detailed to suit the users and customizable depending on the needs.

SiteLink

The type of real estate managers that mostly benefit from using the SiteLink software are those in investment trusts, self-storage and manufactured housing. The business size may be small, large or medium. It is compatible with most of the platforms. Furthermore, the deployment of the software is possible in on premises or in cloud systems.

The utilization of the software includes accounting of property. The accounting functionalities range from the general ledger, loss or gain analysis, receivable, reporting and transactional history. Also, it aids the manager in budgeting, forecasting, building maintenance, tenant and lease tracking.

Total Management

Total management is a software ideal for small and medium real estate businesses. It is a web based management software suitable for accounting and tracking. It allows the management of commercial, residential and student housing properties. The best feature of this software is the ability to navigate many screens at once without the need of having many tabs. This is ideal for business property management and rental.

The six mentioned software are just some of the real estate management software available. The number of products available to choose from may be overwhelming. Before choosing the right software, there are several issues to consider to ensure the product will work efficiently for managing the properties. These factors include the number of the units, type of system running the software, cost, suitability and the usability.

Real Estate Planning for Oil Fields

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When a new oil field approval takes place, there should be a master plan of the whole area, including the use of land, any possible environmental impact, lifestyle disruptions, and traffic impact should be considered.

Also, pollution changes and possible impact on natural habitat should be studied in collaboration with all parties involved. This will ensure that minimum impact is being created on the environment and the community in general. The oil business can be very profitable but is also expensive to maintain. Higher labor costs and cheaper oil prices.

With the new tech on the market, energy and oil companies are saving millions of dollars each year.  In a way, that great because the end consumer will benefit from cheaper prices.  You can check out more stories on http://www.maltaprime.com/

With all the prosperity that is going on right now in the world, investing in property and buy to let is the best investment you can ever do.