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Laws Real Estate Agents Should Be Mindful Of

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Real estate agents are responsible for high-value deals, meticulous legal documentation, and a multitude of clients, often all at the same time. They are also committed to providing the highest standards. As such, they have to adhere to a number of laws and regulations. 

Things That Get Real Estate Agents Sued

Real estate agents are particularly vulnerable to being sued. Sometimes even minor blunders have the potential to cause major legal problems. To mitigate these potential risks, real estate agents must be extremely diligent in their job and be knowledgeable in all legal aspects pertaining to their field. 

Any real estate attorney in Houston will recommends having a legal team to whom you can turn to for advice and legal assistance. This article will highlight five reasons why real estate agents are frequently sued. 

1. Breach of Contract

Real estate brokers frequently run into legal issues as a result of contracts. Clients may press charges if they suspect the real estate agent violated the contract’s provisions. To avoid this problem, get your contracts reviewed by a lawyer to ensure that they are legitimate. Additionally, you should go through them with all of your clients to ensure that everyone is on the same wavelength.

2. Breach of Duty

Breaking contractual obligations is one of the most common legal claims brought against real estate agents. This alleges that the real estate agent failed to act in the best interest of the client, as they are mandated to under law. A breach of duty can occur as a result of carelessness or intention.

Keeping meticulous records of everything you’re doing and maintaining an unwavering commitment to honesty can help you avoid being the target of a breach of duty claim.

3. Failure to Disclose Defects and Flaws

Real estate agents have a responsibility to provide their clients with factual information concerning any defects and flaws in the residences they are interested in purchasing. Defects such as poor construction, wall cracks, noise pollution, the existence of lead-based paint, the existence of mold, and a variety of other issues could be present.

Due  to these reasons, clients may file a lawsuit against a real estate agent for any defect they claim the agent was aware of but failed to mention. Always carry out a thorough inspection to uncover any potential problems, and make a note of anything you discover. After that, you can have the client fill out a form confirming that you informed them of the defects.

4. Data Protection and Security

In every industry, cybersecurity has now become an essential consideration.

Given the fact that real estate agents obtain personal data from their clientele, they can be held responsible if that information is stolen. Therefore, it is critical that real estate agents maintain a high level of data security.

Try to ensure your security protocols are updated, that your data is encrypted, that you alter your passwords on a regular basis, and that you store hardcopies of the data in a safe place.

5. Client Deception

Clients who believe their real estate agents have deceived them, be it through commercials, verbal statements, or deeds, are well within their rights to file a lawsuit against them. The law stipulates that all of the photos and videos in advertisements be accurate.

A property’s features are often overstated for the purposes of luring in potential clients. And perhaps some real estate agents do this without even realizing what they are doing. However, you should consciously avoid exaggeration, and communicate in the most concise and straightforward manner possible in order to avoid misinterpretation. Besides, your highest priority should always be acting with integrity.

Uphold Integrity

Taking precautionary measures could really prevent you from getting sued and streamline the process. To safeguard your clientele and yourself, you must adhere to the set rules and regulations. Verify all relevant laws and ethical standards to ensure you can abide by them.

Moreover, any issues or questions about the law should be handled by a legal team. 

Mahesh is leading digital marketing initiatives at RecentlyHeard, a NewsFeed platform that covers news from all sectors. He develops, manages, and executes digital strategies to increase online visibility, better reach target audiences, and create engaging experience across channels. With 7+ years of experience, He is skilled in search engine optimization, content marketing, social media marketing, and advertising, and analytics.

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The Reasons Why Redwood Avenue in Jumeirah Golf Estates Deserves your Attention

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Redwood Avenue is an elite district in Dubai. It is a breathtaking, coveted residential sub-community inside Jumeirah Golf Estates. Located in the Fire golf course, Redwood Avenue is a selection of upscale villas available for rent and sale. Aside from vast open spaces, homes in the district feature lifestyle facilities and posh interiors.

Redwood Avenue is settled next to Dubai Production City and Dubai Sports City. Jumeirah Golf Estates is bounded by Jebel Ali Al Hibab Road, Sheikh Zayed Bin Hamdan Al Nahyan Street, and Sheikh Mohammed Bin Zayed road. Therefore, residing in this luxurious district is suitable for frequent travelers, golfers, and professionals.

In a Nutshell:

  1. A sub-community within Jumeirah Golf Estates.
  2. Views of the Fire golf course.
  3. A residential venture offering only villas.
  4. In the vicinity of Jumeirah Golf Estates Clubhouse.
  5. Proximity to main roads.

Commute Times

  • Situated 22 km South-West of the mainland.
  • Half an hour away from Dubai International Airport.
  • Sheikh Zayed Bin Hamdan Al Nahyan Street is 18 minutes away.

An Overview Of Redwood Avenue

Nestled in a very sustainable development in Dubai, Redwood Avenue reinforces an active lifestyle with plenty of amenities on fingertips. 

First of all, it is a walking distance from the Golf Club. Secondly, it is positioned in a majestic green golf course. After shifting to this district, you can expect the following:

  1. A direct access to clubhouse facilities.
  2. Recreation areas, like laid-back cafes and BBQ areas. 
  3. Views of man-made lakes and Fire Championship Golf Course.

Aside from attractive outdoor landscapes, the district is inspired by the casual Mediterranean concept visible in serene lakes, rock gardens, and mosaic work.

Properties in Redwood Avenue

This sub-community is a combination of 47 individually designed luxurious villas. The properties include 5 to 6 bedroom Redwood Avenue Villas. Buyers can choose between 11 architectural styles and 4 interior design schemes laid down by B&B Italia. 

Those homeowners planning to shift to a place that best fulfills their preferences can also choose customized designs.

Speaking of designer interiors, the units display Poggenpohl kitchens furnished with Miele appliances. 

Plus, with smart home technology, you can monitor your home when you’re outside or control simple functions, such as turning on the AC. 

Touch control, intelligent switches, and PDAs are also installed. When it comes to living spaces, the usage of huge windows enables ample air and sunlight to enter the bedrooms and living area. 

There is a dedicated parking space, a laundry room, a maid’s room with a private external access, and a guest bathroom with each villa. 

Another highlight of these units is an additional space in the basement that can be employed for recreational activities. It can be converted to a home office or a home theater as well.

Parking Space and Public Transportation

The villas feature a dedicated parking space in the basement. As the district is gated, guests are only allowed after verification. Plus, visitors might not find public parking here. But the properties have enough room to park more than one vehicle.

As Redwood Avenue is a systematic development, there is no need to worry about essential facilities, like public transportation. Furthermore, with the expansion of the Dubai Metro for Route 2020, there is an underground metro station in Jumeirah Golf Estates.

The Fun Lifestyle of Redwood Avenue Residents

  • Shopping Destinations

If you love shopping sprees, you can head over to the following malls:

  1. Ibn Battuta Mall
  2. The Market
  3. City Centre Me’aisem (7 minutes away)

The City Centre Me’aisem is a go-to stop for all shopping. If you love shopping and dining, The Market is best. It is located in Green Community, with a courtyard, 110 retail stores, and a kid’s zone.

Ibn Battuta Mall is a more famous option, but the ride is a bit far. However, there are countless dining and entertainment options available here. It’s a themed mall that hosts events and indoor activities.

  • Restaurants

Sports Bar and Fresca Delicatessen & Cafe are the two most praiseworthy options inside Jumeirah Golf Estates. Other choices are:

  1. Tomato and Basilico
  2. The Big Wok
  3. The Kebab Shop
  4. Pulcinella Restaurant
  5. Tasty World Restaurant IMPZ

These are family-oriented restaurants situated in the vicinity. If you want a relaxing meetup in a superior environment, you can visit Filli Cafe or Flame Tree Ridge.

  • Beaches

Those who love spending their weekends at the beach, enjoying water sports, and having fun at beach parties can visit JBR beach. It’s 20 minutes away, but the trip is worth it. Other happening beaches near Redwood Avenue are Marina Beach and Jumeirah Public Beach.

  • Leisure Activities

Significant attractions near the district are:

  1. Dubai Miracle Garden
  2. Dubai Autodrome
  3. Dubai International Stadium

If you’re a sports lover, living here will be a dream for you. Golfers can enjoy unlimited freedom to practice their favorite sport, and cricket enthusiasts can view live international tournaments in the stadium. Beginners can practice many sports in academies.

Aside from a range of sport activities, like The Els Club in Sports City, residents can enroll in Golf Academy, which is home to the European Tour Performance Institute.

If you are adventurous, head to the Global Village, which is 20 minutes away. This place is a wholesome entertainment center, particularly in the holiday season.

  • Medical Facilities

Below are some general and specialized hospitals surrounding Redwood Avenue:

  1. Mediclinic Me’aisem
  2. NMC Royal Hospital in Dubai Investments Park
  3. Apex Medical and Dental Clinic 

A few pharmacies are also nearby, like Prime Care Pharmacy, Yassat Life Pharmacy, Health First Pharmacy, and Bu Sina Pharmacy.

  • Educational Institutions

Daycare centers, playgroups, and nurseries include:

  1. Building Blocks Nursery and Child Enrichment Center in Motorcity
  2. The Wonder Years Nursery in Sports City
  3. Kids Kingdom IMPZ in Production City
  4. The Children’s Place in Jumeirah Park

As for primary and secondary schools, following are some nearby options:

  1. Nibras International School in Green Community Village.
  2. GEMS United School in Sports City.
  3. Victory Heights Primary School in Sports City.
  • Outdoor Activities and Fitness

Jumeirah Golf Estates is a premium golf course in the city. Plus, residents can visit parks, sit on lakeside benches, or spend time at walking tracks. If one wants to relax and enjoy grooming procedures, the following salons and spas are near:

  1. Tips and Toes in City Centre Me’aisem
  2. Caractere by Dani in Production City
  3. NBar Nail Spa in Green Community

Fitness lovers can find plenty of options to follow their routine. Some praiseworthy choices are:

  1. Fit Republik in Sports City.
  2. The House of Hurricane in Jumeirah Golf Estates.

It is clear that Redwood Avenue is a paradise for golfers. Considering the proximity to prominent entertainment and commercial hubs and amenities, investing in villas here is worth it. 

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Effective Ways to Maximize the ROI on Your First Rental Property

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Effective Ways to Maximize the ROI on Your First Rental Property

Although investing in a good rental property can prove highly profitable, success in such ventures is by no means guaranteed. In fact, depending on how much effort and research you put into your first rental property investment, you may find yourself stricken with buyer’s remorse. Conversely, if you take the time to do your homework and educate yourself on the intricacies of the rental property market, you’re likely to be very satisfied with your investment. So, in the interest of maximizing the ROI on your first rental property, put the following tips to practical use.

Carefully Consider the Cost of Repairs and Renovations

Many of the rental properties you come across are going to require repairs and/or renovations. In some cases, these will be fairly minor and won’t place much of a strain on your financial resources. However, if a property needs significant repairs/renovations in order to be habitable, there are a number of factors you’ll need to take into account.

For starters, you’ll need to consider how much income you stand to generate from this property versus how much money you stand to lose from renovating it. Needless to say, if repair/renovation costs are considerably higher than your projected long-term profit, it may be a good idea to walk away and seek out other single-family renovation investment opportunities

Do Some Research into the Location

You’d be hard-pressed to find a real estate professional who isn’t intimately familiar with the mantra, “Location, location, location!” When searching for potential investment opportunities, many seasoned property owners are more concerned with the area in which a property is based than the general condition of the property itself. After all, even a property that’s lacking in space and/or amenities is liable to generate a healthy profit if it’s located in a highly desirable, in-demand locale.

So, before purchasing your first rental property, take care to research rental rates in the area. Should you discover that the rates you wish to charge are uncommon – if not outright unheard of – in a specific area, you’d do well to look for other properties. Additionally, throughout the course of your research, make sure to look at an area’s crime rates, rate of growth, job market and population. 

Properly Vet Rental Applications

Even if you’re able to get your hands on a great property in a desirable area, this investment will essentially be worthless in the absence of good tenants. Tenants who are unable or unwilling to keep up with rent stand to make your job a lot harder and cost you a significant sum of money. Furthermore, depending on where you’re based, evicting tenants for nonpayment of rent can be a long, arduous and costly undertaking.

To minimize your chances of ending up in such an undesirable situation, you’ll need to thoroughly vey every rental application that comes your way. You can start by running a credit check on every prospective tenant. While virtually every American is carrying some level of debt, it’s reasonable to assume that an applicant who’s absolutely awash with debt may have trouble staying current with rent.

Secondly, confirm that every applicant has consistent income and is able to comfortably afford rent. As a general rule, applicants should make at least three times the cost of rent each month. However, if an applicant’s income comes from disability payments, Social Security or well-to-do cosigners, exceptions to the rule can be made.

Depending on the locale, you may also be able to run a criminal background check – with the applicant’s permission, of course. Although a criminal history needn’t necessarily preclude an applicant from being approved, it’s best to approach such matters on a case-by-case basis. For example, if an applicant was charged with crimes that could pose a risk to your personal safety, the safety of other tenants or the safety of the property, they may not be a good fit. As an added precaution, make sure to advise all successful applicants to invest in renters insurance, since homeowners insurance cannot be applied to rental properties.

Effective Ways to Maximize the ROI on Your First Rental Property
Effective Ways to Maximize the ROI on Your First Rental Property

There’s little wonder as to why so many passive income seekers invest in rental properties. After all, a single property in a highly desirable area stands to net you a small fortune on a monthly basis. However, becoming a property owner without understanding the finer points of such a venture is unlikely to work out well for you. As such, fledgling property owners looking to see a healthy return on their investment would do well to consider the measures discussed above.

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What The Highest Inflation In Decades Means For Low-Income Renters

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One of the big stories of 2022 has been inflation. Towards the end of 2021, inflation was going up. Thanksgiving famously had families shelling out huge sums of money for turkeys. In 2022, the Federal Reserve had plans to stem the tide of inflation by raising interest rates. However, Russia’s invasion of Ukraine took inflation out of anyone’s control, and now we are seeing the highest rate of inflation in decades.

Of course, economic movement hits those earning low incomes the hardest. The rising cost of gas, food, and just about all other consumer goods has made it difficult for many people to make ends meet. The good news is that while inflation has impacted consumables, it hasn’t yet had an impact on the costs most renters are paying for housing.

But this is bound to change over time. The cost of rent, as well as related expenses like renters insurance, have stayed stable so far in 2022. Is there any chance that this will last? If not, how will high inflation impact renting for people earning low incomes?

Why has rent stayed stable?

Inflation has an impact on the cost of everything over time. However, that impact is far more immediate on some things than others. Let’s look at the most recent contributor to high inflation. The US ban on Russian energy has made gas prices shoot up. When the price of gas increases, the price of all other consumer goods – which need to be transported and stored – goes up.

This is fairly immediate, with shoppers seeing changes over the course of days rather than weeks. The goods themselves cost more to get onto the shelves, and are therefore priced accordingly.

Rent is different. The price of rent is far less based in material reality. Rather, it has to do with a combination of the expenses of the landlord, their expected income, and what they think renters will pay. The cost of providing the rental space does not go up due to rising gas prices.

However, this is unfortunately a temporary reality. Here’s why.

Landlords’ expenses rise

Your landlord’s expenses rising does not have to impact you, in theory. It doesn’t necessarily mean that they are spending more money ensuring you are taken care of. But it does mean that the income they earn, both from you and other sources, no longer goes as far. They may struggle to make ends meet on the same income they earned before.

This gives them incentive to raise the price of rent. They need extra money in order to keep themselves above water. However, they cannot immediately increase your rent if you have a lease of a year or more. When they do raise your rent, they have to abide by any prior agreements with you as well as government regulations.

This means that people renewing their leases now might face big increases, as will people trying to rent for the first time. People who still have months or years left on their leases will avoid increases for now. If inflation goes down by the time the lease comes up for renewal, the landlord may no longer need or want to increase the cost of rent.

What can you do?

Unfortunately, there is little that we can do as individuals to control the actions of landlords. You can speak to your landlord about affordability if they try to raise the rent. The simple reality is that if you can’t afford to pay what they ask, they may have no choice but to accept that. Finding another tenant and losing a few months’ worth of the current rent will do them much more harm than good.

Rent control regulations differ according to state, and you can and should look up your state’s specific laws. Knowledge is power in any negotiations you have with your landlord. Some landlords do not have your best interests at heart and will try to take advantage of people who are not familiar with the regulations.

Hopefully, inflation normalizes within the next few weeks. For now, we will have to deal with rising prices and do our best to keep landlords honest.

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