THE Confederation of British Industry has this week stated that the adoption of the principles for better contracting set out in the government’s Construction Playbook is too slow. This is a view echoed by Gerard Toplass, group CEO of The 55 Group, which is the parent company for national framework
Over the past year or so, many businesses across the UK have begun to rely heavily on their e-commerce stores, more so than brick and mortar shops. As a result, the demand for increased warehouse space and improved warehouse efficiency has increased massively. From more inventory, a wider range of
Welding plays an enormous role in many industries. It’s a necessity in automaking, construction, and aviation. In most cases, welding enables frames and connections between the metal parts. Welding’s importance reaches homes as most appliances, tools, and equipment are generally welded. Yet, welding can be challenging. Workers require time, practice,
The concrete’s properties can affect the formwork and the entire project. That is why it is critical to understand the concrete’s characteristics. In Brisbane, concrete is one of the most often utilized building materials. This is because it combines strength, durability, and lifespan with affordability and flexibility, to name a
Your appliances are a significant investment that provides a lot of value to your home. As such, you’ll want to keep them running at their best for as long as possible. Although typical wear and tear are ordinary for kitchen appliances especially, you can still maintain their effectiveness and efficiency
Workers spend entire days on construction sites, so you must provide effective sanitation to fulfill their basic human needs. Having an unclean working environment can lead to infections and will result in hefty lawsuits. Now, more than ever, you need to make sanitation a priority for your project plan. Luckily,
“Do you want the glass or gloss table?” Chances are, this is a question that you have come across every time you are out furniture shopping. Well, maybe not every time but enough times to expect it when shopping. Ravaging through dining tables and chair finishes is not easy for
Research by central London estate agency, Bective, has revealed that London is currently home to the third largest available level of super-prime property market stock, with just Hong Kong and New York placing above the capital. There are an estimated 63 billionaires currently living in London accounting for 2.3% of
One great way to build wealth is to become a landlord. Many people don’t think of this as an option, but I’m here to tell you it most certainly is. However, with great power comes great responsibility, and that definitely applies to landlord-hood. Before you sign that rental lease, you
When you want to rent out your property to a new tenant, you may not be sure of what steps to take prior to searching for the right people. This can be especially difficult if you are new to renting out properties. By considering certain aspects of your house, you
THE Confederation of British Industry has this week stated that the adoption of the principles for better contracting set out in the government’s Construction Playbook is too slow. This is a view echoed by Gerard Toplass, group CEO of The 55 Group, which is the parent company for national framework provider Pagabo, leading risk, management and compliance software company Sypro, and social value specialist Loop. He said: “We absolutely agree that the principles of the Construction Playbook setting out better contracting are not being adopted at a quick enough pace. We’d also say the same of all of the principles covering the procurement and project lifecycle. The Playbook should – and quite frankly must – be at the heart of everything we do. “At The 55 Group, we embrace the Construction Playbook and everything it stands for. Whether it is at the initial procurement stage, managing contracts and project processes, managing ongoing estate risks, or examining the social value benefits of schemes or activities, our businesses are right at the forefront. This is all wrapped up in a digital-first approach, both in our own operations and in driving technology adoption across the whole industry for processes and training alike. “We’re on a mission to help the industry gain a better understanding of the Playbook’s principles and the best way to implement those into all activity. This includes work Pagabo is currently doing with the Open University to create a series of podcasts that focus on the key elements of the Playbook. “This series aims to provide the public sector and any other clients with the building blocks to implement the Playbook’s core aims and will be launched later this year. “Most importantly, as built environment specialists we must support our clients, the public sector, and each other in understanding the key policies and how to implement them. This means that we need to not just talk about them but find ways of educating and driving the all-important change needed across the sector. “We need to work towards talent density within procurement, properly set up frameworks that have good coverage of suppliers, lots and geographies, and the use of digital technology – all wrapped up in compliant practice with social value at its heart.” For more information, please visit https://www.the55group.co.uk/
Over the past year or so, many businesses across the UK have begun to rely heavily on their e-commerce stores, more so than brick and mortar shops. As a result, the demand for increased warehouse space and improved warehouse efficiency has increased massively. From more inventory, a wider range of goods for sale and expanding businesses, a lot of organisations have had to adapt their way of working to accommodate the increase in demand for goods purchased online. There are lots of tips available for getting the most out of your warehouse storage. Warehouse management is a key component in running a successful retail business, no matter what kind of consumer goods you are selling. Whether it is food, clothing, household appliances, books or all of the above, setting up a great warehouse that can adapt, evolve and grow with your business is key to running a successful online store. So, if you’re running a warehouse as part of your business, keep reading this article to learn how to improve warehouse efficiency. Warehouse Equipment When setting up your warehouse, it is important to invest time in finding the layout and processes that work best for your business. Developing a logical floor plan with the most in-demand goods within easy access will ensure efficiency. Wide walkways and clear guidance around the warehouse floor also help with the movement of goods, as well as improve safety for workers. For the movement of inventory, warehouse machinery such as electric pallet trucks, hoists and conveyor belts make it safe and easy for employees to ship goods in and out of the warehouse. Other equipment that can help improve warehouse efficiency includes the following: Indeed, proper warehouse equipment can be essential in improving the efficiency of warehouse operations. But on top of this equipment, good quality racks and shelving play a crucial role in organizing a warehouse system. For example, the Stackit Industrial Shelving and other similar products can effectively increase warehouse storage capacity and provide quick access to commodities, hence improving product safety. As a result, warehouse managers and operators can improve the efficiency of their overall warehouse operations. However, boosting warehouse efficiency isn’t only about investing in the right warehouse equipment. This year, there has been a big increase in artificial intelligence used in warehouse logistics. Computers and robots are being used to improve speed and efficiency, as well as reduce error rate, across areas such as labelling and sorting. With order processing techniques such as pick to light, artificial intelligence holds a lot of potential for repetitive warehouse tasks. AI generally helps to reduce the amount of tedious, repetitive tasks which employees prefer not to do. Many are of the opinion that the future of storage is in warehouse automation. This is a worthwhile area to research for anyone looking to grow their retail business over the long term. But aside from automation and warehouse improvement, you can also improve warehouse efficiency by conducting a thorough employee training process. Remember that without well-trained employees, you may be unable to operate your warehouse operations more efficiently. Hence, invest in a good training process to ensure they know how to receive goods, maintain inventory, and quickly fulfill orders safely. Also, ensure your employees are trained in using specific warehouse technology to ensure enhanced warehouse productivity. Lastly, your employees should be familiar with the company procedures and policies and updated with the changes or new practices implemented in the warehouse industry. The Best Pallet Racks Choosing the best equipment for your particular industry is important. Businesses also evolve over time and it is worth reviewing your warehouse processes at least twice a year. The type of goods you stock may change, or your product range may expand or decline, depending on demand. At peak times such as Christmas and Easter, you may need additional inventory and your warehouse will need to be able to handle this. Warehouse pallet racks need to be adaptable. Take a look at our tips to choose the correct pallet rack for a warehouse and research the best option for your business. That way, you can have peace of mind knowing your pallet racks are adaptable and durable enough to handle additional inventory in the warehouse. That way, you can have peace of mind knowing your pallet racks are adaptable and durable enough to handle additional inventory in the warehouse. Investing in top-quality warehouse equipment and ensuring that your storage facility is set up to run smoothly will mean goods get shipped quickly and without error. This in turn will result in happy customers. Great customer service is a cornerstone of a successful business and getting orders out on time is crucial for customer retention. Find the best warehouse machinery for your business today and put smooth work processes in place – it is one of the best investments of time and money for any retail organisation. It will pay off in the long run and will help boost the growth of your business long into the future.
Welding plays an enormous role in many industries. It’s a necessity in automaking, construction, and aviation. In most cases, welding enables frames and connections between the metal parts. Welding’s importance reaches homes as most appliances, tools, and equipment are generally welded. Yet, welding can be challenging. Workers require time, practice, and discipline to master this craft. However, there are tips and tricks that seasoned workers apply to have excellent welds. If you’re still learning the basics of welding, take note of these secrets to have a successful welding project. 1. Incorporate Aluminum In Construction Projects One way to have a durable and outstanding welding project is by using aluminum. Although this metal is generally more expensive compared to steel, aluminum offers more benefits. It’s resistant to corrosion and easier to cut because it’s typically soft. Despite its softness, it’s very durable and lighter compared to other welding base materials. Because of it, an aluminum-based welding project requires limited energy during production and use. Hence, it’s believed to be a sustainable way to reduce emissions. If you’d use aluminum, you may use it alone or combine it with other steel materials. Either way, its strength depends on the overall quality of the project. In other words, the better the materials and welding process are, the more durable the results will be. 2. Ensure That Your Electrode Has The Precise Length You may need to select your electrode or stick’s appropriate length. In doing so, choose the type which is appropriate to your arm’s length when you weld. Or you could adjust your distance to have your desired angle. If the electrode is too long, you might melt the rod. If it’s too short, you might not weld properly, and the joined part might detach anytime soon. 3. Start And Finish Everything Cleanly Use a wire brush to remove grease, rust, and dust in the parts you’ll weld. Ensure that there’s no residue left in the metals before you try to attach them. When the dirt is infused with impurities, the welds are likely to have dust and rust, weakening the spots. If you want dirt-free welds, slow down the process to guarantee proper melting and joining. Lastly, it would be best to clean your workplace by removing burn marks and other impurities that result from your work. 4. Take A Practice Run Before The Actual Weld If you want to find your most comfortable position in welding, take a practice run. It’ll help you in determining your best angle as well as the distance to your work. Professional welders do this to start the momentum in their work. Usually, they do this by welding two pieces of metal. 5. Follow The Basics Of Welding In welding, you’d need to stick with the fundamentals to have clean and good outputs. For that purpose, here are some points that you may consider: Wrapping Up A successful welding project needs more than fundamental skills. Apart from the skills, welders need reliable tools and equipment. Yet, mastering the skills might make welding a lot easier. In addition, they shorten the time of labor and make the workpiece more efficient. Suppose you’re planning to weld your first ever workpiece. In that case, you may get back to the secrets and insights mentioned above. They may provide necessary insights for your craft and develop your welding skills. With the right skills, you’ve completed half of the requirements for a clean and successful welding project.
The concrete’s properties can affect the formwork and the entire project. That is why it is critical to understand the concrete’s characteristics. In Brisbane, concrete is one of the most often utilized building materials. This is because it combines strength, durability, and lifespan with affordability and flexibility, to name a few advantages. However, while concrete has seen many improvements and new variants throughout the years, it is far from a novel material. According to many historical sources, it has been in use for about 2,500 years. Nowadays, it is utilized in many ways, from laying strong foundations to constructing pools and hardscapes and adding beautiful finishing touches. Basics of Concrete Forming Concrete forming is the act of securing liquid concrete in place as it chemically cures into a solid material utilizing prefabricated structures, ranging from plants to polymers. To achieve this, the forms must be robust, flush with the floor to prevent spillage, and, in most instances, detachable and reusable. Concrete must be poured into an enclosed area and allowed to solidify enough to retain its form. Newly poured concrete can be kept in form by existing features such as walls and edgings. Alternatively, temporary shuttering, commonly known as formwork, may be required. Formwork construction on vertical buildings can be challenging and is thus often performed by experienced formwork erectors. On the other hand, ground-level slab work is often less complex and requires just basic formwork. In all instances, whether vertical constructions or ground-level work, the formwork must be robust. It must be strong enough to withstand the forces generated by the wet concrete, as well as the weight of the vibration-generating equipment. In addition, the formwork joints must be securely secured to prevent the wet concrete from leaking during vibration and curing. Any expert formwork contractor from Brisbane will follow all the safety regulations and provide expert services. You can visit sites like www.formworkcontractorsbrisbane.com to get a better understanding of how such companies work. But a thing to remember is that if you are from Brisbane or any other part of Australia, you need to comply with the Australian concrete formwork standard. Standards for Concrete Formwork There is a general guideline called the Australian standard AS 3610-1995 formwork for concrete. You must comply with this standard if you plan to engage in any of the following activities, regardless of whether you live in Sydney, Brisbane, Melbourne, or any other city in Australia. They are: Importance of Formwork Things to Consider for Concrete Framework Materials Concrete formwork can be constructed using a variety of materials. Steel and aluminum are two of the most prevalent. Steel is usually less expensive and offers the strength necessary for some building projects, but it is also heavier and bulkier. On the other hand, aluminum is lighter and more adaptable than steel, but it is usually costlier. Scale The scale should also be taken into account in the calculation. Numerous factors, such as the kind of formwork that will work best, are determined by the size and complexity of the building project. It will also affect the total cost of developing the formwork and other variables. Strength Additionally, strength is critical. The Formwork and Falsework must be robust enough to support both the weight of wet concrete and dried concrete. It should also be capable of withstanding any extra structural components that can be needed, as well as the pressure placed on it by your employees, equipment, and other factors. But it is advised to avoid too much pressure when placing concretes. Cost Cost is a significant consideration for all projects as well as each component. Formwork is no exception. It will affect the project’s cost regarding the materials and labor required to construct the formwork. Additionally, it can result in additional costs if it is not appropriately constructed and planned according to your particular requirements. Finally, if the formwork is heavy and difficult to handle, you can incur extra costs by renting the necessary equipment. Texture and Appearance Different materials used in formwork have different textures. As such, they can affect the final concrete’s surface. If you need a smooth surface, make sure to choose the appropriate formwork materials. When different materials are used to cover the surface, the textures and effects of the formwork may not be an issue. Usability Whatever project you are working on, it is critical to have simple formwork to handle, install, and remove. This will assist you in staying on schedule and within budget for your project. On the other hand, difficult-to-manage formwork can result in expensive delays, unanticipated costs, and other complications. Joints Joint strength is essential in formwork from various perspectives. For one thing, the strength of the joints affects the formwork’s total strength. Second, suppose the joints are not strong and secure. In that case, you risk wasting a lot of material and producing a subpar final product. Safety Formwork should add to, not detract from, the safety of your building site. This feature is influenced by the materials used to construct the formwork, its strength, the strength of its joints, and its simplicity of usage. Strong materials that are well-assembled, suitable for the task at hand, and easy to deal with will contribute significantly to job site safety. Types of Concrete Forms A square foot of ordinary concrete weighs about 150 pounds, and a typical concrete project may need the placement of hundreds to thousands of square feet of concrete at once. Concrete forms must support all weight, so most forms are constructed of sturdy wood or metal. Although advances in concrete forms made of plastic, fiberglass, and resins have occurred in recent years, the cost and strength of these materials have not yet surpassed the established performance of metal and wood. Concrete Wall Pre-manufactured forming systems are often utilized for pouring walls or bigger structures such as piers or foundations. These wall systems, usually constructed of engineered wood with a metal frame or entirely metal, connect through a pin or latch mechanism. Additionally, these kinds of
Your appliances are a significant investment that provides a lot of value to your home. As such, you’ll want to keep them running at their best for as long as possible. Although typical wear and tear are ordinary for kitchen appliances especially, you can still maintain their effectiveness and efficiency for multiple years. Here are some things you can do to prolong the usefulness of your appliances. Apply for Home & Contents Insurance While most insurers will offer contents insurance by themselves, only the best home insurance companies in Australia cover your home and both the outside and inside. To cover your appliances, you’ll need contents insurance that protects your household items if they were damaged, stolen, or lost. Contents insurance also includes other electronics, furniture, jewelry, and tools. Thoroughly Read the Manufacturer’s Instructions Although detailed instruction booklets can be difficult to read through, it’s vital that you take the time to do so. The company that manufactures your appliances is knowledgeable on how to take care of their products. After reading the instructions, you’ll have a better idea of how to clean and preserve your appliances by using the products the manufacturer recommends. Get the Best Type of Appliance for Your Usage When it comes to prolonging the life of your appliances, understanding the differences between the different types of an appliance is crucial in your maintenance routine. One example is knowing the difference between a heat pump dryer vs condenser dryer. Heat pump dryers are more energy-efficient as they recycle warm air, reducing wear and tear on your clothes and the appliance itself. On the other hand, condenser dryers are simpler but may require more regular maintenance due to their higher energy usage. Choosing the right dryer for your needs can help ensure longevity and efficiency. Always Use Appliances as They Were Intended Children love to climb inside dryers or stand on top of counter space near your dishwasher or stove. Make these areas off-limits to your children. At the same time, you need to lead by example by using a stool to reach higher shelving areas. You also have to stop leaving wet dishes in the dishwasher and clean towels in the dryer after a cycle to avoid further wear. Keep Appliances Clean at All Times Most appliances that use water are typically cleaner than ones that don’t but don’t skip over your washing machine or dishwasher on cleaning day. Since they also use soap, scum can start to develop inside and disrupt their cleaning cycle. Other appliances, like refrigerators, need to be cleaned regularly, inside and out, to remove dust and food particles to prevent mold growth. Minimize Using Your Appliances When Possible The more you use your appliances, the more wear they start to incur. To keep your stove, fridge, and microwave in tip-top shape, try to minimize the amount of time you use them. Even small changes to the appliances can help. For example, you can preheat the oven when you need to use it and turn it off after removing your food. Limit the number of times you open the fridge. Clean Filters and Lint Traps as Directed Appliances that use water or dry clothing will come with lint traps and/or filters. Lint traps are commonly used on dryers to capture loose lint that falls off your clothes. Remove lint every time you use your dryer to avoid a fire or clogs. Change filters on appliances like dishwashers and ice machines regularly to maintain high-quality drinking and cleaning water. Don’t Slam Your Appliance Doors Get out of the bad habit of slamming the doors on your appliances, especially on fridges, washers, and dryers. Not only will slamming your appliances potentially void its warranty, but you will also make your appliances wear out faster. Through constant slamming, you could eventually break the door switch or lid, which is a costly repair of $100-$300. Ensure Your Appliances Are Correctly Installed If you have an electric stove that connects with burner prongs, you need to wiggle it around until the prong stays in the socket. Other appliances may also come loose, either through slamming or movement. Every few months, move your appliances until you can see the back panel and check for loose wires, faulty connections, or chewed-through cables. Promptly fix these issues.
Workers spend entire days on construction sites, so you must provide effective sanitation to fulfill their basic human needs. Having an unclean working environment can lead to infections and will result in hefty lawsuits. Now, more than ever, you need to make sanitation a priority for your project plan. Luckily, all it takes is some simple planning and common sense to make your site compliant. Below, we tell you the key aspects of setting up construction site sanitation. Portable Toilets Portable toilets and urinals are the answer to affordable construction site restroom requirements. They need to be placed correctly and kept clean at all times, so make sure you know how to manage your construction site sanitation equipment. You should put considerable thought into the model of portable toilet you use. For example, some of them supply hot and cold water as well as heating capabilities. When you plan how many you need, you should follow the recommendations laid out by The Occupational Safety and Health Administration (OSHA). They state that you should have at least one toilet for a site of 20 people. For sites with 50+ workers, you need to supply at least one toilet and urinal per 50 people. Suitable Water Your site needs to have sufficient water to keep away the dehydration. You should ensure that drinking water is labeled clearly and contained in barrels with a dispensing tap. Once you’ve positioned airtight drinking solutions, you should consider providing disposable cups and attempting to be as environmentally friendly as possible. Maintaining a green construction site will help to win over the affection of anyone opposing your project. Hand Washing Facilities Hygiene should be at the forefront of your mind when planning your project, especially after the global pandemic. Therefore, alongside sufficient toilets, you need to provide clean handwashing facilities. As well as having washbasins, you need to provide quality soap to eradicate harmful substances that workers may have come into contact with. Efficient Shower After a long day of hard graft and coming into contact with potentially dangerous materials, your employees will want to wash before they leave. Therefore, you should supply the demand by renting a shower trailer. These trailers come with a supply of water, which means you don’t have to worry about running water on your site. Changing Rooms For projects that call for specialized gear, you need to supply a changing room. If you’re having a shower trailer onsite, you should customize your selection to include a changing room. However, if you need to rent a separate facility, ensure it has ample storage space for employee belongings. Constructions sites are busy places with plenty of contaminates about the place. Workers will spend long hours on-site, and therefore need to be looked after. Supplying clean and accessible portable toilets, showers, hand washing facilities, and changing rooms will guarantee you tick all the boxes. When you are choosing equipment, you need to think about their placement to allow maintenance trucks access at all times.
“Do you want the glass or gloss table?” Chances are, this is a question that you have come across every time you are out furniture shopping. Well, maybe not every time but enough times to expect it when shopping. Ravaging through dining tables and chair finishes is not easy for anyone, especially an ordinary buyer who is only looking forward to acquiring chairs that will complement their curtain set. Although both glass and gloss finishes share some common characteristics, investing in gloss dining tables and chairs sets can dramatically change the look of your dining area. Here are the benefits that you will enjoy with this type of finish: Easy to incorporate with lighter colors If you wish for darker dining tables and chair sets and want to match them with your light-colored room, then the glossy finish will complement the entire dining or living room. As such, you can ‘play’ with your decor every now and again, and make your dining room look lively. Easy to clean One thing is for sure, there is nothing more painstaking than cleaning a glass table. Without proper cleaning and the use of the right detergents, your glass tables and chairs will look dirty. Also, when children are around the house, they may end up touching the glass table and chair sets, making everything dirty. However, with a gloss finish, you can forget all about this. Your cleaning experience will be quite easy and you will not have to worry about fingerprints all over the tables and chairs. The finish provides a super clean look. In fact, simple cleaning with a damp cloth is all that’s needed. Easy to style Regardless of your home style, a gloss dining table or chair is an incredible choice for you. Regardless of the type of gloss finish, you can use it as a “blank canvas” so as to come up with the end design that you desire. You can create the look that you want without making your home feel dark and moody. Instead, everything can be light and refreshing. Strong and durable Need we say more? If you are looking for a dining table and chair sets that will last for years and years, then those with a gloss finish are your best bet. Needless to say, wood can last as long as you want it to. Other than this, glass is fragile and tables and chairs with this finish need to be handled with utmost care because they are very delicate. Summary Shopping for a new piece of furniture is very exciting. While narrowing down your taste and preferences, it is also wise to narrow down on the finishing that you desire. Judging from all the aforementioned benefits of gloss dining tables and chair sets, it is a perfect choice. The finishing is easy to keep clean, it is long-lasting and affordable in comparison to its glass counterpart. Most importantly, tables and chairs with a gloss finish will fit in and complement any room. it goes without saying that this should be the ultimate finishing to your furniture- hands down!
Research by central London estate agency, Bective, has revealed that London is currently home to the third largest available level of super-prime property market stock, with just Hong Kong and New York placing above the capital. There are an estimated 63 billionaires currently living in London accounting for 2.3% of the world’s total. When analysing this number in relation to the city’s total population, Bective’s research shows that London ranks third for the highest number of billionaires per 100,000 of the local population (0.70). Just San Francisco (1.45) and Hong Kong (1.07) currently boast more billionaires per 100,000 of the local population. A clear sign that London remains one of the locations of choice for the world’s wealthiest. Bective’s research also found that London sits within the top three in terms of the availability of super-prime property stock for existing, or future, billionaire homebuyers. Bective analysed 10 global cities based on the level of homes currently for sale at the £10m mark or above. The research shows that globally, there are 1,890 homes listed for sale at the very top end of the market across these 10 global destinations. 317 of these are located in London, meaning the city currently accounts for 16.8% of this global, super-prime property stock. Just Hong Kong (904) and New York (537) are home to more £10m+ properties listed for sale, accounting for 47.8% and 28.4% of the global market respectively. In contrast, super-prime homebuyers face the toughest task in Moscow and Mumbai, with each nation accounting for just 0.1% of all super-prime properties on the market. Bective Sales Director, Craig Tonkin, commented: “It’s fair to say that the pandemic has proved more problematic for London’s super-prime market than it has for the rest of the UK market and ongoing travel restrictions have stifled demand at this very top tier since the start of last year. However, we’re now seeing signs that this is on the turn and the prime London market, as a whole, is well poised to make a swift recovery. Not only does it boast the quality of properties that appeal to the super-wealthy homebuyer, but it also has the available stock to sustain this appetite for high-end homeownership. As a result, London continues to rank as one of the dominant forces within the global, super-prime property market and the city remains an area of high interest for the world’s wealthiest homebuyers.” City Est number of billionaires 2021 Est population (metro areas and city areas) Billionaire rate – number of billionaires per 100,000 population San Francisco 48 3,313,000 1.45 Hong Kong 80 7,481,800 1.07 London 63 9,002,488 0.70 Moscow 79 12,655,000 0.62 Hangzhou 47 7,845,501 0.60 Shenzhen 68 12,592,000 0.54 New York City 99 18,823,000 0.53 Beijing 100 21,450,000 0.47 Mumbai 48 20,668,000 0.23 Shanghai 64 27,796,000 0.23 Sources Visual Capitalist MacroTrends City Property Stock Listed at £10m plus % of All Super-Prime Properties Sources Hong Kong 904 47.8% link New York City 537 28.4% link London 317 16.8% link Shanghai 59 3.1% link San Francisco 32 1.7% link Shenzhen 19 1.0% link Beijing 11 0.6% link Hangzhou 8 0.4% link Mumbai 2 0.1% link Moscow 1 0.1% link All Cities 1890 N/A
One great way to build wealth is to become a landlord. Many people don’t think of this as an option, but I’m here to tell you it most certainly is. However, with great power comes great responsibility, and that definitely applies to landlord-hood. Before you sign that rental lease, you need to understand the incredible responsibility that comes with managing other people’s property. If you’re interested in becoming a landlord, read on for 7 things to help guide your decision. 1. Get legal right from the start If you’re thinking of renting your property, it’s a good idea to get legal help. Landlords and tenants should know the basics of their rights and responsibilities under the law. This will help you avoid significant problems. It could also help your case in the event of a dispute over the rental property and make your relationship with your tenants happier, which is good for everyone involved. 2. Obtain landlord insurance Landlord insurance is an essential piece of property protection. One of the first things you should do is obtain landlord insurance. This will help ensure that if anything does go wrong with your property, such as flooding, it can be replaced without breaking the bank. 3. Choose Your Tenants Carefully Selecting the right tenants for your property is crucial to both the success and overall return on investment of your property. The wrong tenant may cause irreparable damage to your property, While the right tenant will help you maximise the return on investment of your property. 4. Be ready for maintenance issues Landlords are responsible for the upkeep of their properties and owe it to themselves to make their properties secure and fit for habitation. This means there is a responsibility of dealing with routine maintenance and fixing problems. 5. Consider tax laws Landlords have a responsibility when it comes to paying their fair share of taxes. It’s your duty to understand these laws and fill out the necessary paperwork. 6. Make Sure You Hire the Right Property Manager Property management is a lot more than a job. The manager is the face of the property to both the tenants. Hiring the right property manager can really help your business run better. Your property manager will interact with each of them for every aspect of the property. 7. Learn about rental agreements A tenancy agreement is a legal document that conveys all rights and obligations between the landlord and a tenant. A typical rental agreement contains the rights and responsibilities of the tenants, as well as what the landlord experts, policies and situations, such as if a tenant can keep a pet, and so on. Final Thoughts Being a successful landlord takes more than just understanding the industry and its practices. You also need to have a unique skill set that sets you apart from other potential landlords. Hopefully, the content of this article is able to provide some of the help you need to get started.
When you want to rent out your property to a new tenant, you may not be sure of what steps to take prior to searching for the right people. This can be especially difficult if you are new to renting out properties. By considering certain aspects of your house, you may be able to find ways to limit the number of repairs needed throughout the course of the tenancy, and even make your property more desirable than other, similar homes on the market. Service the Boiler The property you rent will require a working boiler to supply heating and hot water to your tenants. While you may have it serviced annually, it can be a good idea to have an interim service prior to selecting new tenants. This way, if there is a problem, it can be rectified prior to the move-in date. A new boiler cost can vary depending on the type you choose, and the urgency within which you need it fitted. Therefore, the earlier you check your current boiler is up to par, or opt for a replacement, the easier it may be upon your bank balance. From here, you may also want to make it clear to the tenant that boiler servicing is non-negotiable, and that they should allow access to technicians as and when required. Furnishings You may want to decide whether or not you furnish the bedrooms and living spaces within your property. This may potentially enable you to charge a higher base rent than if the space was barren, and be an option for tenants who do not have many belongings. Alternatively, you might opt to leave the space unfurnished. This can be a good strategy when finding tenants, as they might already have belongings of their own that they wish to use. Considering the size of your property could be a good idea here. A larger property may benefit from being unfurnished, especially if your tenants are families with young children, as they may be more likely to already own goods. Smaller studio or single-bedroom properties could be furnished, especially if you plan on letting to students. Decoration It could also be a good idea to freshly decorate the property prior to commencing the lease. This will make the home feel new. The choice will be yours regarding whether tenants are allowed to undertake their own decoration, as well as if pictures or other items may be hung on the walls. You may want to be clear about this within the tenancy agreement. Opting for a light colour can help to make rooms appear larger. It could also be beneficial to choose a wipe-clean paint, in case of any smudges or spills. Renting out a property can be a great way to make a second income. By planning prior to accepting a new tenant, your property could become a wonderful home for someone, either long- or short-term.