Category Archives: Property Management

Luxury Condo In Singapore

The mortgage for Luxury Condo in Singapore is generated by deed in the countries of civil law. The Anglo-American law does not require legal intervention, but the mortgage must be registered in the land registry or to be enforceable against third parties.

The basis of the mortgage is usually a building or more accurately the ownership of a building. There may be different mortgaged property rights available such as ownership, usufruct or bare ownership.

Mortgage Brokers

The mortgage is the subject of a land registration tax ( 0.615 % of the loan amount 0.715 % from 1 January 2006). Mortgage costs represent about 2% of the loan amount. The mortgage must be a deed and the registration is done in an area where the property is located. The rank of the mortgage, which determines its priority over any other security, takes effect on the date of registration.

In case of default of the secured debt, the mortgage is made: the property is subject to foreclosure resulting in an auction by a competent court. Generally, if you sell the property before the expiration of the effective date of the mortgage, the creditor accepts radiation (called release) the registration of a mortgage in exchange for the repayment of the debt by deducting the selling price.

This radiation is with the registrar of mortgages by the same authorized intermediaries for registration. Costs and fees of this deed of release shall be borne by the borrower or seller of the property. It is better to negotiate beforehand with the creditor if it is not restricted by a Luxury Condo in Singapore tariff.

Reloading is for the borrower to re-mortgage on the support of a first loan, usually real estate, to secure new debt. The amount already paid can generate a new security, and facilitates new debt. This is a practice used in the real estate investment.

The reverse mortgage

The reverse mortgage taken out with a bank may be paid as a lump sum or annuity, secured by a mortgage on a property for residential use (primary, secondary or rental). The borrower is required to make any repayment of the principal and interest.

Speaking almost exclusively to the elderly, this type of loan provides liquidity of its assets without being separated. This loan can be useful to supplement retirement income and / or when you face unexpected expenses (dependency, housing repair, etc).

Upon death, the heirs may choose to redeem the loan if they want to keep the property, but whatever happens, the debt claimed by the bank may not exceed the resale value of the property as estimated at the date of death ( debt ceiling ), which protects the heirs.

How You Can Manage Your Commercial Property Like A Pro

Considering how the commercial property market in Sydney has grown vastly in recent years, it’s advisable to hire a manager to take care of your establishment. But this does not mean that you can’t manage the property on your own like a pro. You just need to know what it takes. For one, it’s about minimizing the maintenance costs. It’s also about making it easier for investors to evaluate the value of your property. More importantly, it’s about giving your property market stability. The three objectives are what property management services in Sydney promise. You can also achieve them if you observe these ideas:

1. Obtain a BEEC

In Sydney and other cities in Australia, a Business Energy Efficiency Certificate (or BEEC) is used to show the Nabers rating of a commercial property. The rating shows how energy efficient your property is. You should target a higher rating since it will add value to your assets and improve the rent collection.

2. Invest in the Property

You have to go the extra mile financially to ensure that your property maintains its value and standards. You’ll need to invest in the finest HVAC systems, smart security features, and latest fixtures. You also need to upgrade your landscape so that you can attract investors.

3. Protect the Investment

It’s important to safeguard your commercial investment even when it’s tempting to take shortcuts. You should try to be professional by observing these practices:

• Set up fire safety measures

• Apply for the necessary certifications and licenses

4. Make the Tenants Happy

Even though it’s important to protect your investment, it’s equally important to house tenants who are happy with the management. When tenants are happy, they’ll pay without default. You need to take time to listen to them and make the improvements that they recommend whenever necessary.

5. Address Late Payments

Late payments are an issue that most property management services in Sydney have to deal with often. You need to have a system in place that notifies you when a tenant’s rent is overdue so that you can follow up.

6. Create a better working environment

Water features, office gardens, indoor plants, and pendant lightings are no longer considered to be office trends in Sydney. They are critical elements of any quality office environment with signs of good workplace health and productivity. You cannot afford to miss them in your property management services office.

It’s clearly not hard to manage your commercial property if you understand the basics. The above ideas will definitely help you manage it like a pro. You’ll be able to save money and run the property as you like.