Month: May 2019

Why Buy RV Rental Insurance

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Many people choose to rent recreational vehicles (RVs) to use while on vacation. Some of the time, these rental RVs can be covered through the drivers auto insurance policy. The way to do this is to first obtain an Insurance Binder/Endorsement from the auto insurance provider. Next, the RV rental agency must be added to the auto insurance policy as an additionally insured and a loss payee. There are many limits and complications to this option. Many drivers find that this coverage is not adequate and choose to purchase additional coverage through the rental agency. This is often a better option because it is less complicated and provides more comprehensive coverage. RV rental insurance is usually very reasonably priced and is most often secured through MBA Insurance.

It is a good idea for RV renters to purchase additional RV rental insurance. This covers the renter if there are damages to the RV, or if the RV damages other vehicles or property. The fact that most RV renters do not regularly drive RVs makes rental insurance a particularly good idea. RV rental insurance can usually be purchased from the RV rental agency for a reasonable daily fee. The fee varies depending on the rental agency and the particular model of RV. Insurance for smaller RVs starts around $15 per day, with medium sized RVs often costing $20 a day, and the largest models costing $25 daily. It is usually a good idea for renters to purchase Supplemental Liability Insurance. This insurance usually costs about $10 a day and provides the renter with liability protection up to one million dollars.

Most RV rental agencies provide insurance through MBA Insurance. MBA is the top name in RV rental insurance and has provided its services since 1978. MBA protects both renters and the rental agencies. Their policies save the rental agencies money by insuring the renters and keeping costs low for the rental agency. MBA Insurance provides the renter with full coverage, including liability up to a million dollars, collision, uninsured motorist, and comprehensive. Most RV renters choose to purchase this insurance through the RV rental agency, but it can also be obtained through the renters auto insurance company in many cases.

RV rental insurance covers the renter for most road-related damages and liability. Most RV rental insurance doesnt cover the interior of the recreational vehicle. Renters must be especially careful with the appliances and furniture in the RV, as those items are not usually covered by insurance.

Cool Housing, Hot Renting – Shanghai House Rental Market Keeps Increasing

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This demand for housing as an investment vehicle has been competing with housing as a human need, leading to a scarcity of affordable housing and the potential for social unrest.

To combat this, the government has recently introduced measures to cool the housing market, including curbing loans on third home purchases; raising minimum mortgage rates; restricting pre-sales by developers; tightening down-payment requirements for second-home purchases.

The new measures are obviously working – property sales fell by 70% year-on-year in Shanghai in May and developers have delayed sales of new residences because the municipal government hasn’t announced its property policy. In the high-end residential market, only 20 luxury units costing over 50,000 RMB per square meter were sold in Shanghai during the first half of June, and 36 out of 45 luxury developments available for sale saw no sales at all during the same period.

This increased difficulty in buying and selling homes has led many to look to Shanghai’s rental market instead, with the number of rental properties increasing by up to 20% and still rising. Many landlords are trying to rent out their properties, as opposed to selling them, while potential buyers are holding off on purchases until (they believe) prices will fall, and renting houses in the meantime.

Meanwhile, the ongoing Expo has been bringing many expatriates and foreign companies into the city, looking to support the event and enter the Chinese market, pushing up occupancy in popular high-end compounds and leaving few vacancies. This increased activity in the rental market pushed May’s Shanghai House Rental Index to 1221, a rise of 5 points from April.

Unlike many other large cities in China, Shanghai has yet to release detailed guidelines on implementing national policies, leaving many to take a “wait and see” attitude. For now, uncertainty means greatly reduced sales and many are waiting to see the guidelines in more detail before making any major decisions. The CBRC (China Banking Regulatory Commission) will continue to tighten lending, especially to high-risk sectors such as the property market, making it more difficult to buy properties and pushing more people to rent.

Some analysts see the “bubble” in China’s property market bursting very soon, with prices set to fall as much as 20 percent in the next 12 to 18 months. The ratio of housing prices to disposable income in Beijing and Shanghai is 13-14 times and many see this as unsustainable in the long-term, although the leasing market should continue to remain steady.

While many multinational companies reduced expat relocation to China during the financial crisis of the past two years, the twin factors of increasing expat relocation to Shanghai and the 2010 Expo mean the high-end residential leasing market will remain hot for some time to come, with high occupancy rates and fewer vacancies than ever, especially in Jinqiao, Pudong and expat-friendly compounds in Puxi, which currently have an occupancy rate of almost 95%. This increasing demand has already pushed the high-end residential leasing market into an upturn and this will continue throughout 2010 and 2011.

How to Beat Recession with Vacation Rental Plans

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Even as the economic meltdown is threatening to impair peoples lifestyles and curbing their spending powers, they are still exploring the possibilities of enjoying their annual vacation in a less expensive way. Of course, costly vacations with the family are no longer possible in today’s difficult economy. The rise of unemployment and downsized family budgets are real worries for many families contemplating availing a vacation.

One assured way to spend your vacation in these hard times without compromising on your happiness and comfort is to hire a vacation rental. A vacation rental offers almost all the luxuries and amenities available in a superior grade hotel, but at a fraction of the cost.

You can also draw consolation from the fact that vacation rentals are becoming a fiercely competitive industry and most of the property owners vie with one another in offering competitive rates and there are also special packages and attractive discounts. If you decide to go on a vacation during the off-season, you can truly make a huge savings on your vacation rental.

You can easily find the accommodation of your choice at a much lesser cost than your budget. The busiest and most expensive months of the year for vacation rentals are July and August, while December, January and February are crowded in certain select destinations.

A vacation rental not only offers significant savings to beat the recession, but also greater freedom and increased privacy so essential for some memorable holidays. Most vacation rentals come with multiple bedrooms, ample floor space, jumbo television, refrigerator, music systems, internet access, air conditioner etc.

One of the best advantages of vacation rentals is you will be provided with a full-fledged kitchen where you can cook your own food. There cannot be two opinions that eating out regularly during a vacation can be prohibitively costly. The two major expenses when going on a vacation are accommodation and dining in restaurants. When you opt for a vacation rental, you save enormously on both these counts.

You can also select a vacation rental in peripheral areas, away from the din and bustle of city, to spend quality time and better bond with your loved ones.

Many families that have availed vacation rentals earlier appreciate the benefits of vacation rentals and return year after year to enjoy a first class holiday experience in a vacation home avoiding the congested hotel rooms as also saving money.
For holidaymakers who want variety, it would be possible to spend a vacation in different types of vacation rentals in different kinds of locations – each offering its own distinct holiday experiences. Vacation rentals are available in different sizes and varying features. Vacation rentals are available on beach fronts, mountain sides, near lakes and parks, river’s edge and amidst other salubrious environs.

To choose your cheap vacation rental you can go through the local area newspapers and search the internet, or visit one of the vacation planning Web sites. Most vacation rentals seen online will come with descriptions, pictures, and prices for you to arrive at an informed decision.

Inexpensive communication tools and the Internet have made it possible for people to identify their own cheap vacation rentals without the aid of agents and thereby saving on commission payment.

Tricks For Making Your Tenant Avoid Late Rental Payment.

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A tenant background check will help you choose tenants who have no criminal records or who have a stable job. However, this resident screening is not a guarantee that the tenant will pay rent on time. For this reason, you have to have a plan of action in case you are lucky enough to welcome a tenant who always fall behind on payments.

Start on the Right Footing
Needless to say, no landlord would want to welcome a tenant who does not pay rent on time. So early on, during the signing of the lease agreement, make sure to clarify the due date to your tenant. Spell out the mode of payment you prefer, the specific date (and time, if need be), and the late fees you charge for payments not made on time. You may also want to require them to call you when they cannot pay on time for you to decide whether or not you will waive late fees. If it is their first time, or is not a habit already, then there is nothing wrong with being considerate. However, make sure to firmly stress to them that this is the only time you will consider, otherwise this may become a precedent and would make them think that it is okay to be late in paying the rent.

Make Him Pay the Price for Being Late
If the late payments and alibis keep recurring month after month, it is time for you to remind them whos boss. Since you own the property, you call the shots and that you can enforce the late penalty on each day that the payment has not been made. No tenant would like the idea of paying extra so this will be a deterrent for them to fall behind on rental. Since you are making extra money, this extra charge will also assuage you of the stress of not getting the rent on time.

Make Him Pay or Shoo Him Away
If despite the late penalty your tenant continues to fall behind in payment for 2 to 3 days, then you have the right to send out a 10-day notice to pay rent within 10 working days or else they have to vacate the property. Make sure to keep a copy for yourself and consider service times for delivery of the notice. This notice will usually prompt tenants to pay up, but if they dont, you can file for repossession after 10 days.

Turn to The Powers That Be
If after implementing the first three steps rent is still late, inform your tenant that you will report this delinquency to any or all of the various credit bureaus and tenant databases. This will hopefully spur them to cough up. If they still dont, then act on your threat. Take note that to do this you have to pay to sign up for this service. You may also opt to use websites that offer free landlord software where you can post and skim through tenant records using landlord database.

New Zealand’s Current House Rental Market

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In the current economic climate it has never been harder for young families to purchase their first home. Soaring house prices in big cities like Auckland are making home ownership all but impossible. A direct result of this is a booming rental market. A recent article featured in the New Zealand Herald on New Zealand house rentals states that as many as 200 people are applying to be tenants at a single property in the city and on the city fringes. Property viewings have become auditions, students and families alike are finding it extremely difficult to get into a rental property of their choice. Rent prices are now a starting price in what sometimes becomes a bidding war for who is willing to pay the highest amount.

Massey Universitys real estate analysis unit shows a quarterly increase across New Zealand in rent prices of 3.3% ending February 2011. The most notable annual increases are in the main centres with Auckland areas leading the way. Waitakere prices increased 8.8%, while North Shore rose 6.3% and Auckland City rose 2.7%. Other areas with rising rent prices are Rotorua increasing 7.3% and Christchurch 6.9%. These increases are alarming especially in a struggling economy where people are finding it harder to find work. Although there is an increase in rent prices there is also a decrease in rental listings on websites such as TradeMe. Supply simply cannot meet demand and rising prices are not slowing this demand down.

Christchurch is an interesting market at the moment with a lot of rental homes damaged by the recent earthquake. Undamaged properties have become hard to come by and the prices have increased accordingly. This has led to some Christchurch residents moving out of the area and heading to other main centres such as Auckland and Wellington putting more strain on these markets. Some people are calling for rent control in the Christchurch area due to the increase in prices. However there is little evidence to support these claims of rent spikes with some experts stating the rent increases are simply the norm in the current rental market across the country.

With high unemployment and middle class families unable to make home deposits or mortgage repayments, a whole new demographic has entered the rental market. Some people have to sell their homes and move into rentals, again highlighting the fact that the New Zealand housing rental market is growing. With the demand far out weighing the supply in main cities such as Auckland, landlords are able to let sub-standard properties at exorbitant prices. Looking at the current figures people can only expect prices to continue increasing while New Zealand house rental listings will continue to decrease. Be careful when choosing a rental property, and make sure you seek expert advice in these interesting times.