Showing posts with label Business and Economy. Show all posts
Showing posts with label Business and Economy. Show all posts

Sunday, August 15, 2010

Is Anyone Following Rent Laws In Pakistan?

Concluding a rental agreement is part of the routine for a real estate agent. Unfortunately, there are many agents who despite having several years of experience conduct these deals in a manner that not only leaves both landlords and tenants dissatisfied, but also violates local rental laws.
Most tenants would like rental agreement s to be made for at least 12 months although there is no law limiting the maximum number of years of an agreement. However, the law requires all rental agreements of 12 or more months to be registered with the Area Registrar and the fixation of revenue stamps on the rental agreement. These fees are paid by the tenant.
In order to save on stamp duty and registration fee, both the landlord and the tenant sign an agreement for 11 months. The reality is that most tenants do not move from the premises in such a short periods it involves expenses and payment such as brokerage/service charges to an estate agent, as well as the cost of packing and moving.
This means that the landlord, tenants and estate agents who brokers the deal, all are equally responsible for evading government taxes which is a criminal offense.
The estate agent should ideally inform both the landlord and the tenant that the rental agreement should be signed for the actual term of tenancy; this will save both parties from incurring unnecessary expenses after 11 months. More importantly, this will prevent both parties, from breaking the law, which, at the end of the day, results in financial losers for the provincial government.
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Saturday, July 17, 2010

How To sell Your Property Online: E-Marketing Property: E-Marketing Of Real Estate And Product Property

Changing life cycle trends and access to the internet have changed the waves properties are marketed.  Today prospective buyers and tenants need no longer visit countless properties in order to draw up a short list and make an offer. Instead the property owner, can e-mail the digital photographs and dimensions of a particular property to the state agent. For newer properties computer-Aided Design (CAD) drawings can also be sent.
Here are tips on the kind of information that should be e-mailed to real estates agents:

Residential:

1) Scan of the floor plan and the frontage and depth of the house.
2) Expose the front elevation, the lawn,the car porch and servant quarters.
3) Include dimensions of all bedrooms, attached bathrooms and TV lounge(s).
4) Photos of the neighborhood.

Commercial:

1) The facade of the building.
2) Photographs of the showroom, shop or the complete office space.
3) If a furniture premise, photographs the fixtures, fittings and furniture.
4) Include the floor plan which should mention the gross and net covered areas.

Industrial:

1) The floor plan and technical drawings of the industry, highlighting information such as distance between pillars, height of roof, details of concealed writing, etc.
2) Photographs of the front, back and side road of the property.
3) Photographs of the office blocks, sheds and machinery.

After receiving the information, the estate agent will store the specification of the property on his/her computer will show the details to the prospective buyer.tenant on the monitor.
The seller will only be contacted if the property has been short listed, saving all concerned precious time.
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