How to Find Property on Sale?
There are various properties available on sale where some of them are on the lease or pre-rented. Before investing, you can find about such properties from various resources. Before investing, it is definite that you have a list of landlords or rental property owners which you have been compiling for over a month. Or you can find a list of all the properties on sale from an investment club. Having an annual membership in such clubs gives you access to all the rental properties available for sale. Before a real-estate investment, you can also enquire about properties from your personal acquaintances such as friends or relatives. They may have the resource which will help you strike a great deal.
You can also find about rental properties on sale online. There are several websites which can give you a list of all the potential investment properties. For example, if you are willing to buy a property in Faridabad, you can look for rental property for sale in Faridabad. You can access all the available agents in Faridabad who are willing to sell off properties. Also, you can speak to real estate offices and discuss the profit of investment or any other opportunities which you can avail. Choose the property which you think can benefit you in the long run as a real estate investment.
Pre-rented property is properties leased to a tenant first and later on sold in the market. The lease also gets transferred to the new owner with the transfer of property. Following which, the new owner enjoys the lease rent every month.
For example, Mr Varma has a property of 2000 square feet which we decided to put on sale. You can rent the property on the lease. Mr Varma has fixed your rent to Rupees 80 thousand per month. Now after a year of paying rent to Mr Varma, Mr Varma decides to sell off the property to Mr Sharma for Rupees 1 crore. In that case, you have to pay your rent of Rupees 80 thousand to Mr Sharma from here onwards.
You can also find pre-rented properties by looking for pre-rented property for sale in Faridabad.
There are few important points which you need to remember before buying rental or pre-rented properties:
- Property and location: Look for properties which are easy to re-sell in the future.
- Tenant: Associate with tenants who have a stable business and with whom you can plan for long-term investments before you take a property on the lease.
- Price: Preleased properties are usually priced over the similar properties present in the area. Therefore, if you are taking an older property on a lease you must negotiate. If it’s a new project you are buying, try to equate with the market price.
- Rent Yield: Rent yield is the amount of percentage of rent you receive over your value of an investment. This should be considered as an important factor while taking a property on the lease.
- Taxes: Taxes for your owned or on the leased property should be discussed well before buying or renting the property. If it’s pre-rented discuss well who will be paying the taxes.
Consult with an expert before investing in real estates.