Investment Property – Profitable Investment Alternatives

Archive for December, 2010

Oftentimes I am asked where I would recommend home buyers (or those wanting to purchase vacation investment property) look when they come to the Pyrenees Orientales area of France. This question is certainly not easy to answer because there are too many variables; it will entirely depend on the lifestyle of each individual buyer. If they prefer a small tranquil home to use as a holiday getaway, then I will often point them towards one of the many beautiful villages in this area. However, if a buyer plans on making it a permanent move either immediately or down the road a few years, I like to find out a little more about their lifestyle before I make a suggestion on where to look.

I often recommend the lovely city of Perpignan which can also be quite lively. Property in Perpignan has many unique features. To start with, Perpignan is one of the French Catalan cities so many of the people there speak Catalan and most of the signs will be in both Catalan and French. The city has a delightful Mediterranean fell because of the mixture of these two cultures; furthermore Perpignan had been a quiet, sleepy city until very recently. It is now pleasantly enjoying a bit of Renaissance thanks partly to the increase in air traffic to its own little airport. You can refer to it as a Ryanair effect of sorts. Either way, purchasing property in this up and coming locale could end up paying high dividends.

Many buyers never consider putting investment potential on their list of property criteria, but it might be a wise decision. Purchasing gites for sale in the Pyrenees Orientales, or a second home in France generally, is something that needs to be taken as seriously as purchasing a home in your own country; especially when it concerns the potential for a home’s price to increase or decrease over time. This is another one of the great reasons that property offered for sale in this area provides an interesting option. So, come and explore and see the many beautiful towns the Pyrenees Orientales has to offer, but do not ignore the possibilities of Perpignan itself.

One of the many ways to take advantage of the internet’s versatility and flexibility (besides online listings of investment property) is with Online pc banking. A number of banks have made this as an option for their customer’s convenience. They can do their bank transactions anywhere as long as they have a pc and a good internet connection. While this is an advantage for customers, it is also beneficial for the banks. It makes things a lot easier, faster, cheaper and more transparent. Fortis is one of the banks that uses this method and they also provide an interface for their customer’s banking needs.  Fortis pc banking is preferred by many because it allows its customers to make use of their computers to access all their banking products from the comforts of their own home.

Fortis offers a discount to their account holders that make use of the online options. This is because it helps them save money on customer care, front office, printing and sending of monthly statements and individual transfer of requests. This bank even provides their customer with free transfers. Moreover, account holders of their Easy Pack, Service Pack or Mine Pack are granted free Fortis internet banking. The only thing that their online customers have to pay monthly is a minimum amount of 1 euro.

This type of banking makes things faster for both ends because the customers no longer need to go to their local bank office just to make transactions. Fortis bank also gives their beloved customers the option to acquire important information and reports just by doing a few clicks. Online pc banking is also transparent. It makes it easy for the account holders to keep track of their banking details. Fortis customers have access to the most updated information on their savings, credit card transactions and transfers. They can also access to their investment portfolio, loans and insurance. Everybody loves internet banking – it’s easy, cheap and accessible.

Most landlords would probably agree that the most difficult part of owning rental properties is not the investment property, but the tenant management.  When you have great tenants, it seems easy.  When you have bad ones, you job of managing them can be miserable.  Unfortunately, bad tenants are difficult, but not impossible to avoid.  Show what can you do to avoid them?

• The number one prevention method is to screen your tenants thoroughly.  So often I see landlords that meet a tenant for 15 minutes to show them the apartment and then hand them the keys.  You have no idea who this person is or what they will be like.  You should use a tenant screening service to give you information on criminal, credit and rental history.  Examine this information closely.  Notice if they have anything in collection or how often they have late payments.  These can be clear signs they will be problems in the future.
• Call the previous two landlords that this tenant has had.  Ask them many questions and see if they would rent to this person again.  If you can’t get in touch with the landlords, don’t rent to the tenant.  They may be purposefully giving your bad phone numbers so you can’t reach the landlord.  Did their previous landlord file an eviction to get them out?
• Meet the tenant a couple times.  In fact, if you can, go to their existing home and see what that looks like.  Are there extra people hanging around there that will probably be moving into your property, but not on the lease?  Bad tenants seem to attract problem friends.
• When you do have a bad tenant, do a postmortem.  Go back to their application and think about how they acted and what they said when you first met them.  What could you have done differently?  Looking back, were their any signs of the problems?

Avoiding bad tenants is a key piece of having an enjoyable rental property business.