PROPERTY RENTAL
PROPERTY RENTAL: TIPS SO THAT YOU ARE NOT FOOLED

Property rental: tips so that you are not fooled

One of the most anticipated seasons by families is that of vacations in the middle and at the end of the year, in which many plans to rent a country estate or an apartment and, thus, rest and change the routine.

Internet is the obligatory option to look for a rest property. However, not all that glitters is gold. There are some basic precautions to be taken to prevent unscrupulous people from ripping you off, taking your money, and ruining these holidays.

Metrocuadrado.com consulted the IT security expert Heidy Balata, manager of the Secular de Seguridad firm, who gave a series of recommendations when looking for and renting a farm or apartment for vacation:

Cautions when doing an Internet business

These are some computer security tips that the Ministry of Information and Communications gives us and that you should take into account if you are going to make an online transaction.

1. Keep your equipment protected: remember that making a purchase online is one of the processes in which we have to give more personal information: identification cards, addresses, and telephone numbers, among others. Therefore, it is necessary that your computer is protected and updated, for this you must have an antivirus.

2. Use your personal computer: if possible, as a security measure, you should avoid the use of other people’s computers or make transactions in public places such as internet cafes.

3. Recognized and reputable websites: sometimes to search for a good offer we enter unknown web pages, check that the URL of the browser matches the website where you are buying and verify that the address begins with https (the browser also shows a padlock, which indicates that the portal has a security certificate).

Do not enter links that take you from their email to sites of a financial institution, it is one of the most common methods that criminals use to obtain your personal data and then impersonate your identity.

4. Request purchase notifications from your bank: today financial institutions offer a free notification service when a card purchase is made. If you don’t have this service, request it. This way you will receive notifications after making purchases or bank transactions, making it easier for you to verify operations and, if necessary, react immediately.

PROPERTY INVENTORY
PROPERTY INVENTORY: HOW TO DO IT?

Property inventory: how to do it?

It is important to record the status in which you deliver each and every item of the property to the tenant.

For this, it is best to carry out an inventory of a property, of which both parties must keep a copy, with which at the end of the contract they can verify that everything is in order. We at taj  residencia islamabad housing society are here to help!

It may interest you: how to terminate a lease?

The easiest way to inventory property is by using a format in which the following data, among others, are listed:

• Address of the property, telephone number, identification and location data of the owner and landlord, the date on which the review and delivery is made.

• Similarly, description, number and condition of objects and services such as locks, closets, rug, switches, electrical outlets, curtains, towel racks, telephone sets, sinks, showers and lamps.

•  Curtains (in each space), telephone sockets, extractor hood, clothes hanger, drain grates, door stops and holders for toilet paper, among others.

• According to the type of property and city, these elements may vary, so it is best to make the list while in the space to be rented.

SELL OR LEASE SAFELY
PRECAUTIONS TO SELL OR LEASE SAFELY

Precautions to Sell or Lease Safely

Investing in real estate is a very profitable business, however, to avoid inconveniences in the future in terms of material damage, overdue debts, taxes and legal issues, keep these recommendations in mind:

– The seller must deliver all tax payments (property and valuation) to the buyer. In addition, public services must work perfectly.

– Likewise, the boundaries, nomenclature and characteristics of the property must be very well specified in the deed.

– Leasing, selling or buying has less risk when it is done through a real estate agency.

– At the time of delivery, the property must be free of any type of mortgage, succession process, desenglobe, liens, pending lawsuits, civil lawsuits, liens, censuses, antichresis, lease contracts by public deed, dismemberment, resolution conditions and patrimony of family. For such checks, real estate services are the best.

– All the information provided by the seller about the property and its characteristics must be reliable.

– Always remember to pass utility bills in your name.

– Once the respective procedures have been completed, the seller loses authority over the property, so the buyer has full autonomy over it, except for the urban planning regulations, coexistence rules and/or corresponding horizontal property regulations, among others.

– Always ask that you explicitly indicate the use of the land or destination that can be given to the property.

– The seller must give you all the copies of the keys to access the property and the doors of rooms and/or closets.

Also if you buy a new home…

– Observe, first of all, that the work in progress has an informative billboard in which the names of the construction company and the project, the urban curator that issues the license and the area, among other information of interest, are identified.
– In the case of acquiring new housing in a building or complex, the Law obliges real estate developers and builders to submit the properties to the horizontal property regime.

– The builder is the initial owner of the property. When investing in new housing take this detail into account. Even remember that the builder is in charge of drafting the horizontal property regulations.

– Additionally, it is his responsibility to hand over the common and private areas and to assume the function of administrator ‘for a time, although, according to the law, he can hire a third party to represent him.

– When negotiating units subject to the horizontal property regime, private goods (houses or apartments) and common goods (green areas, corridors, etc.) are also acquired. Hence the importance of asking when they are going to be built, since sometimes they are not delivered at the same time with the house, but are projected for a different date.

– Remember that in the Metrocuadrado Magazine, which circulates monthly, you will find various and very good options for new housing.

– Before doing the business, find out if the common goods have areas and accessories for the disabled if the architecture takes into account children with spaces for play if there are no dangerous areas if you can have pets.

– What does the builder deliver? As a minimum, the horizontal property regulation is duly protocol zed by public deed and registered with the local Public Instruments Registry office. In addition, the buyer must demand the plans and the table of areas that allow verifying that the construction license granted and the construction coincide.

PETS: HOW TO MAKE THEM PART OF LIVING TOGETHER
PETS: HOW TO MAKE THEM PART OF LIVING TOGETHER

Pets: how to make them part of living together

Their possession in closed sets is legal and their mistreatment is penalized.

What the law says

Law 84 of 1989 establishes in Article One that: Animals will have special protection throughout the national territory against suffering and pain, caused directly or indirectly by man. However, Article Three contemplates the violation of this statute as –contractions- What does it mean? That the greatest penalties imply arrest of a maximum of 12 months, that is, they are releasable. Hence, any act that threatens animal life and well-being, be it wild or domestic, is a criminal offence.

In less tragic cases, such as the objections for the simple possession of a dog or a cat in a closed complex, Marcela Ramirez, director of Repay, explains: “The possession of domestic animals supposes the exercise of fundamental rights such as the free development of the personality (Political Constitution, art.16) and personal and family privacy “.

In addition, it refers, for example, to the ruling of the Constitutional Court in guardianship T-035/97, where it declares the importance of pets for the family: “The animal becomes an object of affection and companionship to an equal degree perhaps or superior to a person who is a member of the family or of its social nucleus, to whom special attention, care and love are given “.

The defender also adds that: “Law 675 of 2001 (on the horizontal property) in its article 74, paragraph, states that matters relating to the keeping of animals in joint properties will be determined in the condominium regulations, which cannot be arbitrary, rather, they must comply with the Political Charter and the law. That is, they cannot restrict the rights of the owners. ”

Homeowners must also attend to their duties

As it is about tolerance, it is true that owners must respect the rights of their neighbors and strive for a healthy coexistence. Nora Paton, a lawyer specializing in horizontal property and columnist for El Tempos, explains: “In addition to respecting horizontal and internal property regulations, owners of pets must keep them vaccinated, take them out on a leash and when they are potentially dangerous, also with a muzzle, and they must pick up the droppings left by their pets.”

It also points out that “the owners will be liable for any damage or injury caused by the pet and will take the necessary measures to guarantee the safety and respect of the other residents.”

To facilitate coexistence, the expert recommends that pets be registered in each residential unit by means of a census, with the data of breed, owner, private unit, vaccine and photo registered in a book.

The noise of pets

Sometimes some residents of closed complexes have asked the administrations that their neighbors, owners of animals, get rid of them, alluding to the restlessness generated by their barking. In this regard, the Constitutional Court ruled in the ruling of Tutelage T-119/98 that this argument “lacks support” and that it is “inherent in the nature of dogs to bark and it is not reasonable to require their owners to prevent it”. However, if any of your neighbors consider your pet’s barking excessive, you can request a measurement from the authorities based on the parameters established by the DAMA in Resolution # 8321/83. } Counseling: Nora Paton, lawyer specialized in the horizontal property.

structure a meeting,
MANY ASSEMBLIES WERE NOT CONVENED ON TIME

Many Assemblies were not convened on time

Several concerns related to the organization of the co-owners assemblies came to the writing of EL TIEMPO, among them, a recurrent one about the inconveniences for not making the call to this ordinary meeting in the time stipulated by the current regulations.

To begin, it is worth remembering that it must be done within the first three months following the expiration of each budget year.

In this regard, some readers agreed on the following question: “Would the decisions adopted at the meeting held outside of that term be flawed?”

According to the expert lawyer in joint ownership, Nora Paton Gómez, Law 675 of 2001 establishes that the assembly must ordinarily meet at least once a year, on the date indicated in the horizontal property regulations.

It is important to reiterate that “in the silence of this, you must do so within the period described at the beginning (three months after the expiration of each budget period).”

However, as has been stated on other occasions, when it is not convened for this period, “the assembly must meet in its own right.”

The lawyer reminds that the administrator has the duty to make the call in the indicated period. This, without prejudice to the responsibility that this representative of the buildings and complexes must assume when, with its omission, it harms the owners, the legal person or third parties.

Paton also points out that “once the assembly is approved and each of the items on the agenda is resolved, its decisions will be binding and valid as long as a judge of the Republic does not determine otherwise.”

Precisely, among the decisions that are made during the most important meeting for the joint properties is the election of the administrator, who is responsible for part of the proper functioning of the legal entity?

Choose administrator

In this regard, several consultants also asked: “What requirements or qualities must a person have to aspire to that position? Does he have to certify any specific profession?”

Regarding this, Law 675 of 2001 does not contemplate any provision.

According to Paton, this is limited to indicating that he must prove that he is suitable for the position.

For this reason, “in the absence of a regulation in this regard, it is up to the members of the council or the assembly to establish this condition, although – I insist – the Law does not warn that they must have any specific profession.”

Other recurring questions, regarding the administrator’s decisions, are related to the power of the council to endorse them: “Can it do it? Does it have the autonomy to do so?”

The lawyer explains that each horizontal property regulation must determine the scope, limit and amount, in terms of the direct exercise of the administrator’s functions.

In addition, it must foresee in which events it requires the authorization of the board of directors or the assembly.

“The horizontal and internal property regulations may foresee the requirements to exercise this position,” he concludes

The meeting in its own right

When the assembly is not convened within the period established by the regulations, it is usual, as the lawyer Nora Paton said, for it to meet in its own right.

In this regard, the president of the College of Horizontal Property Administrators of Bogotá, German Molino, explains that “generally, when this happens it is the product of the enthusiasm and initiative of some residents and is assimilated to a second call.”

According to the manager, if it is successful and there is a quorum, “decisions must be followed, since it is still ordinary, only untimely.”

Molino clarifies that this is different from the extraordinary assembly, which can be held at any time, without a call time, although some regulations allow two or three days for the co-owners to be informed.

“This meeting should be done for unforeseen and real needs. In fact, it is worth making a call for attention, because in many complexes and buildings they take it as a game, for situations that do not deserve it “, he concludes.

Put aside indifference

Many people who live in complexes and buildings subject to the horizontal property regime, still prefer to give power and, in the worst case, not attend the meeting where, among others, the general situation and the economic and financial aspects of co-ownership.

That is why we must insist on the importance of going since, in addition, the accounts and balances of the last budget period, and the reports of the administrator and the fiscal auditor, are approved or not there. Likewise, the budget for income, expenses and investments is adopted for the respective validity and, in general, measures are taken in order to guarantee compliance with the rules and regulations. Hence, the insistence on letting go of indifference.

MAINTENANCE OF LEASED PROPERTIES
MAINTENANCE OF LEASED PROPERTIES

Maintenance of leased properties

Case

The owner does not want to paint the walls and neither does he authorize it to do so despite the fact that more than a year has passed since the rental property was taken over. Since the rent is paid on time, there is some way to force it. What does the law say? What is the procedure?

Answer

The lease contract, as bilateral and reciprocal that it is, generates for the lessor some obligations towards the lessee and in turn other obligations of the lessee towards the lessor.

In effect, the Civil Code and Law 820 of 2003 provide that the landlord must maintain the property in normal conditions so that the tenant can enjoy it for the purpose agreed in the contract. Consequently, if the paint on the walls has deteriorated as a result of failures from the property itself, such as deficiency in water collection channels, deficient drainage, humidity, expansion, cracks, differential settlements, and even normal deterioration of three years of use, I think that it is the responsibility of the landlord to carry out the maintenance.

But if the causes of deterioration of the painting and the property, in general, come from abnormal use of the property or because of the tenant’s fault, it is in charge of the tenant to make the necessary repairs to keep it in the same conditions that it was offered and delivered by the landlord. .

On the other hand, Article 1993 of the Civil Code in harmony with the current leasing law, empowers the landlord to make discounts for indispensable non-rental repairs, taking into account that in no case may they exceed 30 per cent of the value of the monthly rent.

If the cost of repairs is higher, the landlord may make periodic discounts of up to 30 percent of the rent until the total cost is completed. Likewise, the repair and maintenance can be agreed upon with the landlord against the value of the rent.

We suggest calling the landlord before an authorized conciliation centre to try to reach an agreement on the completion of the painting work, there are even known agreements that the tenant places the labour and the landlord the materials, for example.

If the landlord’s intransigence persists, the lease contract may be terminated unilaterally, invoking the cause of ignorance by the landlord of the tenant’s rights enshrined in the law and/or contractually. For further guidance, it is essential to know documents and more details.

LEASE STUDY
LEASE STUDY, WHAT DOES IT CONSIST OF?

Lease study, what does it consist of?

Before taking a rental property, it is common for the realtor or the insurer to do a lease study for future tenants.

In this study, the economic capacity of those interested in renting the property is analyzed and it is determined if they can comply with the rental fee.

The result of this study is a guarantee for when the contract is signed since if approved, the risks of non-compliance in payments are minimized.

What is analyzed in the lease study?

To carry out the study, it is necessary that both the future tenants and their co-debtors demonstrate an income greater than twice the value of the monthly fee and the cost of administration.

The number of co-debtors with or without real estate that must be presented will depend on the value of the rental fee.

Documents required for the study

In addition to filling out a form and paying the cost of the study, in general, both the tenant and the co-debtors must present the following documents:

• Photocopy of the identity card.

• Bank statements for the last three months.

However, depending on whether the tenant or co-debtors are independent, employees, pensioners or legal entities, the requirements vary and some of these documents may be requested:

• Labor certificate that includes salary, position, time in the company and the latest pay stubs.

• Photocopy of the last income statement.

• Chamber and commerce certificate if your activity requires it.

• Photocopy of the RUT.

• Proof of income other than work and/or pension.

• Financial statements certified by a public accountant and of the last accounting period with their respective annexes.

LEASE AGREEMENT
LEASE AGREEMENT: EVERYTHING YOU NEED TO KNOW

Concerns about the lease are constantly being raised. To resolve them, we consulted the lawyer Fabián Zabala, legal advisor for Central de Arrendamientos. In the video, you will find the answers.

These are some of the frequently asked questions:

1. Are there different kinds of leases?

Yes. The type of contract varies according to the location (if it is in an urban perimeter or if it is rural) and the destination of the property (commercial, residential, offices, warehouses or clinics). Depending on this, the regulations are different.

2. Does the lease need to be authenticated?

Although it is not mandatory, the parties involved in signing the contract do so to avoid identity theft.

3. What is the difference between extension and renewal?

Although they are constantly used as a synonym, the difference is that the extension is done automatically, keeping the same terms of the contract, while in the renewal terms such as the term and economic conditions can be changed.

In addition, renovation is used more in commercial properties.

4. If the lease is long-term, can the tenants take possession of the property?

This is more a myth, the tenants will not be able to become owners of the property, since the contract stipulates that the use is granted temporarily.

DISPLAY A PROPERTY EFFECTIVELY
LEARN HOW TO DISPLAY A PROPERTY EFFECTIVELY

If you are renting or selling a property, you should know that the way you show it is key. Paola Barrera, partner manager of Impulse SAS, tells us the five steps you must follow to make this process successful.

1. Know the property

“There is nothing worse than arriving at the property and not knowing what we are going to find in there,” says Barrera. That is, you must visit the property before taking a client, this will also allow you to know the status of the property and know the benefits of the property.

2. Details special features

Find five aspects of the property that you can highlight and check what benefit it represents for your client.

3. The first impact is the most important

From the greeting, you can impact. Also, take a complete tour of the property and the social areas that the complex offers.

4. Inquire about needs

It is important to ask the client how they liked the property and what they would improve on it.

5. Subsequent commitments

Follow up with the client, it can be an email, a call, scheduling, and another appointment, among others.

property
KNOW HOW MUCH YOU CAN SELL OR RENT YOUR PROPERTY

Know how much you can sell or rent your property

By publishing a property on metrocuadrado.com you will now have the opportunity to add a pre-appraisal to your service.

What does this mean? “At last, there is a digital and fast way to obtain a very good estimate of the sale or rental value of your property, in a matter of minutes. This is a tool that calculates the value of your property based on advanced data from the market, your city, area and different variables of your property. The sale and rental value of the property is estimated from econometric models with a 95% confidence level, using artificial intelligence techniques. We are the first classified portal and real estate digital showcase in Colombia with this service”, explains Jacob Sandberg, general manager of metrocuadrado.com.

How to do the pre-appraisal?

– Log in to metrocuadrado.com

– Post a notice (Premium, Plus or Basic)

– Add the pre-appraisal to your shopping cart ($ 29,000)

After filling in the basic data of your property and publishing it, the system will automatically generate a PDF with your pre-appraisal.

In addition, you will receive in the document the estimated expenses of the property tax and the approximate notarial expenses for a potential seller and buyer.

More benefits

With this service, which does not correspond to a certified appraisal, you will also obtain data such as:

– Number of real estate offers in your neighbourhood

– Prices per m2 of the other properties with their main characteristics (rooms, bathrooms, garages, etc.)

– Average mt2 price in your neighbourhood

– Geographical location of your property

To consider

– If you are not satisfied with the estimated value given by the pre-appraisal, you can solve any concern with our Customer Service. 

– The sale and rental value of the property is estimated from econometric models with a 95% confidence level, using artificial intelligence techniques.

– Comparisons with similar properties are made from the offers that are available in the market in a period of no more than 30 days.