conveyo’s Post

#conveyancing delays Genuinely don't understand this line from an article by #property guru, Phil Spencer: '...and more parts of the process are being handled by centralised ‘call centre’ style operations which make progress-chasing far more difficult.' Most #conveyancers would agree that the interminable progress chasing is what slows them down Every minute on a call or email to a 'sales progressor' is a minute spent not doing conveyancing. That can add up to a lot of minutes in a week #estateagents #realestate #propertymarket #solicitor #licensedconveyancers https://lnkd.in/ejJJnzZR

Are you ready for the pre-approval process? Here’s what you’ll need to provide as an employee: - Copies of Pay Stubs - Credit Check (retrieved by the lender with your authorization) - Bank Statements from the past 2-3 months - Down Payment Amount and Desired Mortgage Amount - T4 Statements of Remuneration Paid and Tax Returns from the past two years - Employment Information 🏡💫 Embarking on the journey towards homeownership? Being thoroughly prepared is crucial. Collect these documents early to make the process smoother, and don’t hesitate to reach out for guidance along the way. A little preparation now can lead to a much more successful pre-approval experience! Ellysa Wladyko, CCS, REALTOR® Royal LePage Benchmark www.ellysa.royallepage.ca ellysaw@royallepage.ca (403) 760-0469 Call me! #airdriehomes4sale

Rental credit checks help landlords evaluate a potential tenant's financial reliability. By reviewing credit scores, payment history, and credit usage, landlords can get a sense of whether the tenant is likely to pay rent on time each month. Credit checks are just one part of the screening process. Even if someone has a lower credit score, it doesn’t mean they’re automatically disqualified. Many landlords also consider income stability, employment history, and references to get a fuller picture. The goal is to find dependable and financially responsible tenants, creating a positive and lasting landlord-tenant relationship. A thorough credit check can smooth the rental experience for both parties. Learn more at www.sarents.com ☎️: 210-344-3463 📧: info@sarents.com #HendricksPropertyManagement #SanAntonioRealEstate #SanAntonioLandlords #TenantScreening #PropertyManagement #CreditCheck

Today's Conveyancer covers more details on our #CommonGround campaign – which brought together experts from all corners of the property industry to discuss the challenges they face day-to-day, the importance of collective action and how everyone in the industry shares the same ultimate goal: the best interests of the client. It quotes our CEO, Simon Brown: "This conversation reveals a deep, shared commitment among property industry professionals to overcome challenges and drive positive change for the benefit of everyone. By fostering better communication, embracing technology, and working collaboratively, the industry can improve efficiency and deliver exceptional service to clients. The collective effort to modernise and streamline processes is essential for the future success of the property market." Read more here: https://lnkd.in/eYi2ECX3

Income Streams of U.S. Real Estate Professionals & Related Form 1040 Schedules: Commissions from Property Sales: Real estate agents and brokers earn commissions when they help clients buy or sell properties. Typically, this is a percentage of the sale price of a home (usually 2-3%). Agents split commissions with their brokerage. It is reported on Schedule C (Profit or Loss from Business) for self employed professionals. Rental Income: Real estate professionals who own rental properties earn income through rents collected from tenants. They may own single-family homes, multi-unit properties, or commercial spaces, with income often fluctuating based on tenant occupancy and rental agreements. If the professional is not actively involved in this activity then it is reported on Schedule E (Supplemental Income and Loss). Flipping Properties: Some real estate professionals buy properties with the intent to renovate and sell them for a profit. This business model, known as property flipping, generates income from the difference between the purchase and selling price after improvements. Profits/ losses from property sales are reported on Schedule D (Capital Gains and Losses) Property Management Fees: Real estate professionals may manage properties for other owners. They oversee tenant relations, property maintenance, rent collection, and other administrative duties in exchange for management fees, typically a percentage of the rent. It is reported on Schedule C (Profit or Loss from Business) for self employed professionals. Consulting Fees: Reported on Schedule C. Experienced real estate professionals may offer consulting services to developers, investors, or other property owners. They charge fees for providing advice on transactions, market conditions, and investment strategies. Referral Fees: Agents and brokers sometimes earn fees for referring clients to other agents or professionals (e.g., mortgage brokers or property inspectors) when they are unable to handle the transaction themselves. Such fees are also reported on Schedule C. #CPA #EFILING #IntuitProConnect #Drake #TaxSlayer #USTax #USTaxPreparer #EFIN #PTIN #TaxPreparation #RealEstateTax #RentalIncomeTax #CommissionIncomeTax #PropertyFlippingTax #PropertyManagementTax #ConsultingFeesTax #ReferralFeesTax #Form1040 #ScheduleC #ScheduleE #ScheduleD

In the appraisal industry, many firms once used non-competes to force team members into a "long-suffering" relationship to maximize profits. When the FTC ruled to ban non-competes, our appraisal firm immediately began the dissolution of this practice within our Employee Agreements. Previously, the goal of the non-compete was to protect the firm from predatory client acquisition strategies. Unlike a blanket across the industry, our non-compete only applied to areas where we provided service. This means a team member could leave the firm and start their own in an area where we were not. However, we changed all of that. Our goal is to provide a role so incredible, that every team member wants to stay. We do not want team members who only stay because they are handcuffed to their roles. When we started WP Appraisers, we were not on a winning streak. We met each other in recovery. We were tired of working 60hr+ work weeks, busy work travel schedules, and the isolating nature of the appraisal industry. It was hard to be connected to our family, friends, and community. We desired to create an awesome opportunity for men and women to have a lucrative career while having a healthy work-life balance. Chris Green often says he most desires our people to work well and rest well.  I really admire him for that. Our website says our mission, “We exist to make appraisals the easiest part of the loan process.” We believe in fostering personal growth, professional development, and work-life balance. We are committed to creating a supportive environment where individuals can thrive personally and excel in their careers. Our internal mission is to empower individuals to reach their fullest potential and lead fulfilling lives. We desire to serve each other and our clients with a high level of service. You can check out our Professional Virtues on our website. For appraisers, we created a career trajectory. Not only can you use your technical experience, but we will also develop you into leaders of teams, departments, business units, projects, etc.. Your career doesn't have to stop at becoming Certified. If your interest is peaked, shoot me a message. Together, we can accomplish much! #mortgage #appraiser #appraisal #mortgagelending https://lnkd.in/gJtDf8Wj

Have you wondered what goes on behind the scenes to facilitate a successful home closing transaction? Premier RE Consultants explains. #titleinsurance #titlecompany #deeds #publicrecords #recordsmanagement https://lnkd.in/eVhmrDs4

#Apartments Could Be the Next #RealEstate Business to Struggle. Contact #EurekaWealthSolutions with all your #ThematicInvesting and #FinancialPlanning questions

📉 Landlords: Frequent Lease Terminations Hurting Your Finances? 🏚️💸   For landlords, frequent lease terminations can be a major financial setback.   However, a few strategies exist to mitigate these risks and protect your investments. Some more, some less known. Here they are: 💪🏠   🔐 > Require Security Deposits The true baseline is to collect a security deposit (1-2 months' rent) to cover unpaid rent or property damage if a tenant breaks the lease early. 💰 > Include Lease Break Fees Specify a fee in the lease contract that tenants must pay if they terminate early. This compensates for lost rent and the cost of finding a new tenant. 🔎 > Conduct Thorough Tenant Screening Carefully screen tenants' credit history, income, and references to identify those most likely to stay long-term and reduce turnover risk. At LordLand.AI we are testing specific however quick time to value behavioral questionnaires to potential tenants, that will assess potential risks quickly. 🤝 > Maintain Positive Tenant Relations Provide good service and respond promptly to tenant needs. Ask for tenant satisfaction feedback at least once per year. This fosters longer tenancies and reduces the likelihood of early terminations. At LordLand.AI we are again testing easy-to-use automated relationship automation, that will focus on both excellent new tenant onboarding but also regular satisfaction checks to learn about potential unwanted lease ends ahead. ⚖️ > Pursue Legal Action When Needed If a tenant breaks the lease outside of agreed causes or prematurely, consider legal action for breach of contract to recover damages. This acts as a deterrent. 📅 > Require Proper Notice Specify how much advance notice (30-60 days) tenants must provide to terminate early. A good tenant relationship will help here to get a heads-up early. This gives you more time to prepare for vacancies. 🚫 > Avoid Frequent Rent Increases Moderate rent increases help retain tenants long-term, while excessive hikes may prompt more tenants to leave. Check also our other post about the rent setting strategy.   While you can't eliminate the risk of early terminations, these strategies can help mitigate the financial impact and encourage more stable tenancies.   Careful screening, clear lease terms, and good tenant relations are key! 🔑✨ We at LordLand.AI are working to deliver features through our AI assistant ADA to help you with all this. Try it today. It is free.   Marek Lani Vitaly Berezka, MEng, MBA   #LandlordTips #PropertyManagement #RealEstate #TenantRelations #FinancialProtection #LeaseManagement photo credit: ranchomesarentals

I have to admit I also faced this problem in the past. Take a look at a few tips from LordLand.AI