London Is The Prime Investment Location Amid the Slowdown By Jack Son Greenwood

Find out what's actually happening in the property market with our detailed but concise and easy to understand overview:

When trying to get a handle of what's happening in the London property market, the facts and figures in the press can be misleading, as they take an average of what's been happening in the markets throughout the UK. London however, still sets the pace and prime central London areas are actually doing exceptionally well.

• "Central London prices have risen 34% since their recent post-credit crunch low in March 2009" (Knight Frank).
• London is also the only part of the UK where house prices are now higher year on year. House prices have risen by 3.5% over the year to June (Chesterton Humberts Poll of Polls).
• Prime central London according to Savills indices has increased by 6.5% over the same period
• This compares to a fall of -1.5% for the UK overall over the same period.

Why is the London Property Market Booming?
• Stock is low. Owners are holding onto their properties for longer, allowing properties coming onto the market to ask for higher prices. Indeed, demand outstrips supply so much that even a significant increase in sellers coming to the market is unlikely to reduce prices.

"Demand is holding steady as new supply looks set to surge - prices will continue to grow, albeit at a slower pace in the second half of 2011" (Knight Frank)

• When the financial markets came crashing down in 2008, there was a domino effect on markets globally, including the property market. However, the London property market was noticed to make an early and robust recovery, reinforcing the resilience of London property investments and thus appealing more as a secure investment.

• With the economic markets being as volatile as they are, London property is increasingly being seen as a safe investment and asset class, often to hold in a portfolio and pass down through the family. As such, the normal process of outgrowing and downsizing properties by individuals, which creates supply, is no longer as prevalent.

The five most expensive areas in London saw an average rise in price to June 2011 of 8.5%, and in general prices have risen 34% since their recent low in March 2009. In fact, as another report indicated "Prices are now at their record high, 2% higher than their previous peak in March 2008"

• Owing to political unrest in many countries, international wealth is being removed and invested in prime London areas. London has become the safe bet for those investors seeking both financial security and political safety. The big buyers are the Asians, Europeans, and Middle Easterners, but as reported recently "61 nationalities bought residential property in central London in the twelve months to the end of February 2011."

Also owing to the current exchange rates, now is a good time to be buying in dollars and Euros.

HOMES-ONE PROPERTY PULSE...

In the opinion of London Property agent Homes-One, prices are now considerably higher than the peak, far more than 2%. For good stock in the right areas we would be estimating that the market is now well over 10% above the earlier peak.

Quarterly Inspections Can Save a Landlord Thousands of Dollars By Chad Pierce

Your investment property is yours, no the tenants. To keep your tenants in line and show them that you are a diligent owner, you must make quarterly inspections.

You might say that you do not have time to run every 3 months and do it. If so, then that means you must have tons of time and money to spend on all the problems that your tenants neglected to tell you about.

These inspections will not take you hours to perform. I make my property appointments last about 15-20 minutes per house on a Saturday. I always start at 9:00 and I can be home by 3:00. For me, this is one of the best things an owner can do to protect his / her property and show the tenant that you are serious about being a landlord.

I set all my tenants expectations level about maintenance and the importance of quarterly inspections at the time of signing the original lease documents. I also explain our policy to keep the property clean and informing us of potential problems with the property. I let them know that excessive damage may be grounds for eviction and that we do not take these things lightly.

If for some reason they feel that they can not comply or agree with me doing the quarterly inspection, I tell them it would be better for them to find another place to live. I have a very firm but fair relationship with my tenants. I leave nothing to their interpretation.

About a week before the inspection, we call the tenant and arrange a time to inspect. I do it on Saturday. Do not let them control the time and day options.

When it is time to do your quarterly inspections, these are your must have items:

*Small notepad and pen

*Camera (most cell phone cameras take good pictures)

*Inspection Sheet - A copy is sent to the tenant after the inspection.

*Screwdriver - I use one that has multiple attachments.

*Crescent Wrench

*Teflon tape - If you find a leaky pipe that needs re-threaded.

*Flashlight

*Air filters - I keep a list of all sizes to buy 3 packs of cheapo ones at Lowes. Tenants rarely change them. To save you money on repairs to your HVAC, it is better to change them yourself.

As the owner, you need to be somewhat competent in basic house maintenance and know what to look for as you make your inspection. If you are a beginner and don't have much experience, you can save you thousands in repairs and learn a lot by paying a property inspector or contractor to go with you. Ask around, and I'm sure you can find a friend who knows a property inspector or contractor who will help you for a small fee. If they are a good business person, they will know that you are eventually going to need their service, and it could be a way to start this relationship. You will be able to get important information from these people and this will also make you a more informed owner.

Once I am ready to start the inspection, I'll start with the outer areas of the property and look from top to bottom. I start with the roof and gutters, and move down to the foundation. I take notes and take pictures of everything that can be considered damaged or may be an issue.

I then go inside the house and go from room to room. I always check smoke alarms by pushing the test button. You will be surprised how many tenants remove the batteries from smoke detectors. I check in all the cabinets to ensure that we do not have any leaking pipes. I end up in the basement, if any, and check the furnace filters, HVAC and hot water systems.

All this can be done quickly and allows you to see if your tenant is taking care of the property. It also shows the tenant that you are a landlord that cares about your property.

Efficiently Troubleshoot A Malfunctioning Wire Path for Maxicom Central Control Irrigation By David Layden

A common means by which the Cluster Control Unit (CCU) of a Maxicom Central Control Irrigation System communicates with irrigation controllers and sensors on-site is through a 2-wire path. This path goes to and from the CCU to all of the other Maxicom devices, underground. The total length of the wire run could be a few hundred feet in length to over a mile depending of how expansive the irrigation system is. The 2-wire path will likely have at least one, if not several, splices where two ends of the wire run are connected together since the wire itself is usually not long enough to cover the entire distance needed in one, unbroken run of wire. It is likely that over the lifetime of a Maxicom system, which should be well over a decade, that some part of the 2-wire path is compromised and the communication path is partially lost. In fact it is even possible that all of the communication to/from the CCU to the rest of the Maxicom devices is lost completely. Now a compromised communication path does not mean that the entire wire path is bad. Instead it is likely a single point on the 2-wire path is causing the problem.

One such point could be one of the splices. These wire splices are sealed in water proof gel since they will get wet from irrigation water and/or rainfall. If this water proof connection is somehow breached, then the 2-wire run may stop carrying the Maxicom signal. It is an all too common occurrence that such splices are done poorly and not to manufacturer's specification. Another possibility is the 2-wire path has been physically damaged. One way this could happen is if a new street sign is installed or if some kind of digging (for utilities or landscaping) takes place along the wire run. This kind of issue can ofter be found by a visual inspection on the site. If a visual inspection does not reveal the problem spot along the wire path, then it is possible to use a wire finder. This tool is made to track the path of a wire located underground using sound signals and consists of a base unit and a tracking unit. The base unit is attached to one end of the wire and sends an electronic signal along the wire run. Then the person tracking the wire run places a set of headphones on their ears and holds a wand-like device that is attached to the headphones. These parts constitute the tracking unit.

The user then points the wand along the suspected wire path and follows the actual path based on particular sounds in the headphones. These sounds could be beeps, buzzes or tones depending on the particular model. Eventually, the user follows the wire run until the sound received signals that the wire path loses its continuity altogether. Where this happens is where the likely break is located.

One other way the Maxicom 2-wire path can be compromised is from a piece of equipment in the Maxicom network. This commonly occurs in a Maxicom irrigation controller. Here there is a computer board into which the 2-wire path plugs into. Amazingly is not uncommon for slugs (yes, slugs) or other critters to be attracted to these boards and ZAP! - the board's electronics are shorted. This short will affect communication just with that irrigation controller. However, it may also impact the entire Maxicom 2-wire path.

Another place where the 2-wire path may be compromised in a Maxicom system is the CCU itself. The CCU is the heart and brains of a Maxicom system and the 2-wire path is the means by which the CCU controls the irrigation controllers on site and receives data about run times and flow readings. It is possible that a CCU malfunctions in such a manner that it no longer sends or receives commands and data, which affects the entire Maxicom system.

No matter the particular location or cause of a compromised 2-wire path in a Maxicom system, a savvy, knowledgable water manager is indispensible in troubleshooting these kinds of issues quickly and correctly.

Irrigation Management Systems (IMS) has saved water and money for its clients since the late 1980s, long before green was fashionable. Using the right combination of technology and management practices, IMS has long worked on keeping that delicate balance of saving water while keeping shrubs, turf and flowers sufficiently watered. Get to know us a little better at http://www.irrigationmanagementsystems.com/ and you can also get some free tips to saving water.

How to Find a Good Rental Property Management Company By Darin Garman

If you are looking for a good rental property management company, there are several things to consider to help make your search easier. Many apartment and commercial real estate investors realize that finding a good property manager can truly make the difference between a good investment and one that could be marginal, and even lose money.

OK, so "How do I find a good property management company?"

1. Research

Begin your search by doing a little bit of research on some potential property managers. Depending on the size of your market, you may have only a couple of companies to several to choose from.

You can do some research online - searching for comments on different companies and reviews from both tenants and owners. Keep in mind that most of the time you are going to find negative reviews when you search online. I know... shocking, right? Well of course the thing is that people that are happy with their service or happy with their apartments do not take the time to post positive comments. It's pretty much common knowledge, but just thought it was worth mentioning here -

Where is the best place to do your research?

#1. Commercial Real Estate Brokers
#2. Other Owners
#3. Your Local REIA or Landlord Association

Talking to these folks for just a few minutes is worth days searching online. You are going to get the "real world" answers and will likely narrow down your choices to just a few.

2. The Interview

From your "short list" that you've accumulated during your research, you will want to arrange an office visit. This is basically an interview of your prospective property manager. You can honestly do this either at their office, or even at your property that you would like them to tour. You will want to ask them for a list of properties that they manage and any references of owners they are managing for.

What are their management practices? Do they have written procedures for both employees and residents? How often will you receive reports and in what format? The list goes on, but you will want to get a good idea of their "best practices" that they are using to manage their properties.

3. Property Visits

Next, take this list of properties and drive them. Call them. Whatever it takes, and whatever you have time for. The main thing is to get a pulse on how their other properties are being managed and how they are running. Are they being maintained properly? Do the employees seem friendly and helpful? If you secret shop them, do they answer your questions and "sell" you on the benefits of the property.

4. Contracts

OK, next is decision time. Based on your research, office visit, property visits, and referrals, which one is best? What are their contract terms? What does their property management fee include? For example, does it include all accounting, rental turnovers, etc.?

5. Review and Regular Inspections

Once you have chosen a property management company, you will want to conduce regular inspections of your units. I recommend twice a year, if possible, but at a minimum, do a walk-through of your units *personally* every year. During this inspection, you will be able to monitor for any resident or property issues that need to be addressed. Do not just leave things up to your manager - you must stay involved as the asset manager.

By the way, if you liked this article, you will probably like my new report and video series, "The 7 Biggest Mistakes Investors Make When Buying Income Property."

What Should I Expect From a Good Property Management Company? By Darin Garman

What is the most important thing after you buy an apartment building? Property management.

Finding a good property manager can make the difference between 'make or break' in your investment, so it is not a decision to take lightly. In this article I would like to discuss what you should expect when looking for a good property management company.

Before we begin, remember this:

You are the owner. You are the "Asset Manager" and not the "Property Manager." If there is one sentence of advice I can give investors, it is this:

"Think like the CEO of your company."

Leave the day-to-day operations up to a good management company. Focus your efforts on increasing returns and improving property value. Focus on the big picture.

OK, let's move on. What should you expect from your property manager? What are they responsible for?

1. Marketing and Rental of Units

Of course our number one goal for your property manager is to rent units, and turn them as quickly as possible. You want to look for a company that does a good job keeping units full, and maintaining as close as possible to 100% occupancy. Be sure that they are using their advertising dollars wisely and monitoring market rents, so your rents will climb over time with the market.

2. Collecting Rents and Paying Bills

OK, once it's rented, someone has to collect the rents. A good property management company will be diligent here, enforcing late fees, and not letting residents get behind. Once a resident is behind, it becomes very difficult... then impossible to catch up.

Along with paying bills, I would look for a company with good reporting. Take a look at their reporting periods and how often they will be sending you a check. After all, that's the name of the game.

3. Property Maintenance

Next, you want to find a company that does a good job on maintenance. You will want to work with a company that does not sacrifice maintenance for profits. Keeping a property well-maintained while minimizing costs can be a challenge, but is not impossible. Again, the difference between a good and bad manager will show through - especially in this area. Attention to detail is an absolute requirement to be successful.

4. Enforcing Property and Resident Rules

Twp of the biggest mistakes I see are:

#1. Not having written resident and property rules.
#2. Not enforcing the rules that are provided.

A good property manager will not only have written procedural manuals, but also have written rules for residents to follow. Enforcement of these rules will make your investment run smoother, and keep your good (paying) residents happy.

By the way, if you liked this article, you will probably like my new report and video series, "The 7 Biggest Mistakes Investors Make When Buying Income Property."