Knowing your rights is one of the things which can never be too overemphasized. It not only protects you but also guides you in your conduct with people, tenants and co property owners generally. The knowledge of your rights in the real estate world saves you money, stress and even time in the long run as you are able to avoid unnecessary troubles.

Here are some tips you really need to know to protect yourself and your real estate business.

Understand the local laws

Make sure you understand the landlord laws in your area as there are going to be certain things that you must do when you become a landlord, so you aren’t breaching a tenant’s rights. Know what is expected from you and your tenant and strive to meet up with that.

Write everything down

In the beginning, it may seem like you do need all the formalities of a paper, but I can assure you that you will need it. Get as much paperwork as needed and ensure that you and your tenant sign the tenancy agreement. List out every little terms and condition you have both agreed on and go over them again. Are pets allowed? Do you take care of all damages? Can they use all facilities? These are some of the questions you should answer.

Buy a good insurance cover

When you have tenants, your building can now be regarded as a business. Treat it as such. Get good insurance that will help you cover liability when required. You can never be too sure what will come later. With good protection, you secure your business.

Do your research

As much as you can, ensure you research your tenant. Request for a reference and do a tenant reference check. Do not ignore the red flags, as you might have to deal with it later. Check for the credit ard scores, bankruptcy and other necessities.

Communicate clearly with your tenant

Do not leave anything unsaid to your tenants and treat issues immediately. To avoid future arguments and bad blood, reach out to talk things out and clear the air before it escalates. A good lawyer or a letting agent can serve as a liaison to further manage things between yourself and your tenant.

Becoming someone’s landlord for the first time might seem daunting; however, with the right research and proper practices in place, you will soon find yourself getting into the swing of things easily. Take the time to communicate with your tenants and letting agents for maximum success.

Being a great manager and leader goes hand in hand with your company making more revenue. Your employees and team members are all humans who experience emotions. So, the more they like you and enjoy working with you, the more effort they’ll put into their job. Therefore, earning your company more money.

But what does it take to be a great manager with outstanding leadership qualities?

There are plenty of books written about this subject, but this article will look at just five of the most essential qualities and skills great managers should have.

Get Personal

As we mentioned before, your employees are human. They have likes and dislikes, funny stories to share, and feel every emotion under the sun. So, treat them like people!

Make them feel special by getting to know each and every employee. Hold casual conversations about their families and what they like to do on the weekends. The number one thing you must do is to know everyone’s name.

Leverage Strengths

Not everyone is built the same way. While one person may be fantastic at creating charts and graphs from data on a spreadsheet, another may be terrible at it but can design a beautiful presentation.

Use your employees’ strengths to your advantage –– as well as theirs. When assigning tasks, consider which employee will excel. Not only will you receive great work, but your employee will appreciate the chance to play into their skills at work.

Don’t Micromanage

When you assign a task to someone, don’t hover over their shoulder watching every little thing they do. People work at different paces using different methods. As long as the end result is reached, then it doesn’t necessarily matter how they got there.

If there are essential details that must be considered, then you can inform your employee of them when you assign the task. For the most part, though, trust that your employee will get to the end result successfully.

However, always be available if they need help or redirection on the task. That’s what a good leader does!

Offer Feedback and Appreciation

People like to know where they stand, especially when it comes to their job. They want to know if their managers are happy with their work or if they can improve in some areas.

As a manager, you should offer feedback and appreciation to your employees. Feedback will help them improve their skills and make fewer mistakes. Appreciation will boost their confidence and motivation when assigned a task.

Invest in Success

Don’t pinch pennies when it comes to your employees. If they can use a tool or resource that will make their jobs easier, then you should invest in it.

For example, a customer service team could benefit from using Salesforce and VoIP to stay organized and enhance their support. While you may not feel it necessary and want to put that money elsewhere, consider your employees first.

When you provide the resources they need, you set them up for success, which also increases revenue for your company.

Have you been trying to think of a way to earn extra income during the COVID lockdown but keep coming up short in the idea department? What if there were a way to simply leverage the knowledge you already have to bring in a second paycheck even while you’re stuck at home? Perhaps you ran through some of the usual suspects like starting your own blog or opening an e-commerce store. Those are good options but can take quite a lot of time to pay off. But if you use your current knowledge base and write product or service reviews, it’s possible to earn money rather rapidly. Plus, you won’t have to learn any new skills, take special courses, or obtain a certificate of training in a particular niche. Here are some of the top categories in which you can use what you already know to generate real income by acting as an affiliate for a seller.

Online Brokers

Trading securities from home is a part-time and full-time job that is finally coming into its own, with a lot of help from the lockdown. Many are currently searching for reputable, reliable online brokers where they can open accounts and begin making a profit in the stock market. If you have skills or just an interest in this segment, it’s possible to earn a solid income by writing trading platforms reviews. What is the least you need to know to be successful? It helps immensely if you are familiar with the securities markets, have traded online before, and understand the basics about how the big platforms operate. You need not be a top trader or highly educated market analyst. All it takes is a good eye for what to look for in a web-based brokerage site. For platforms you aren’t familiar with, consider doing a free trial week (which many offer) in order to get a feel for how good the service is. After a few weeks, you’ll be a veritable expert when it comes to trading platforms.

Audio Equipment

Audiophiles spend plenty of money online, and retailers work hard to earn customer loyalty via high-satisfaction first purchases. Seasonal discounts and special offers only bring in so much business, so sellers rely on third-party freelancers to create high-traffic review sites. How can you earn income from this retail sub-category?

It’s not enough to simply post reviews on other people’s websites. But you can have the greatest impact on sales, and your share of the deal, when you build your own site that does nothing but review products as they arrive on the market. That means if you have an interest or even a bit of expertise in things like headphones, sound bars, or other audio products, you can score large commissions. Some of the categories, like amplifiers, typically sell for several hundred dollars apiece. With sellers offering cuts of up to 50 percent on each paying customer you deliver to them, you stand to do well if you can write coherent, detailed reviews that include photos, pros-and-cons lists, and 200-300-word item evaluations.

Exercise Equipment

Buying home exercise equipment was the first thing many people did when they realized that the viral pandemic would be around a while. When health clubs and public gyms are shuttered, it’s nice to head up to the spare bedroom or basement and get in a high-octane workout on your own equipment. The market is still surging as people are getting used to the idea of exercising at home, and retailers are in need of help. Now is the time to draw on your inner gym rat and review equipment that you’ve used in the past. Reviewers who set up sites that focus on rating and evaluating high-end items like weight machines, treadmills, and stair-climbers can make a killing in commissions.

Cyber Security Software

It’s hard to make an accurate estimate, but there has certainly been a huge increase in the number of hours that people are using their computers. Being sequestered indoors for long stretches means having a need for a seamless, safe connection. Anti-virus and similar types of software have always been big sellers, but in the past few months the segment has been enjoying a real golden age. Many of the e-commerce sellers and resellers don’t have huge advertising and marketing budgets. The solution, from their point of view, is to offer commission cuts to people like you who bring in fresh clients via review sites. If you have tried several of the main products in this field, put your knowledge to work by constructing detailed evaluations, complete with pros and cons.

You’ve been looking at the windows lately, and what you see isn’t encouraging. They really need to be replaced by new ones. As you ponder the idea of how to find someone who can replace those aging windows with brand new proudly Canadian windows, don’t forget how the replacement will make things a lot better. Here are some examples to keep in mind.

No More Unwanted Drafts

You know that some of the sashes are loose or the frames are not in the best condition. That’s allowing more air to seep in from outside. While you have no aversion to air, there’s nothing gained by having hot air making it’s way into the home during the summer or frigid air coming in during the winter months. New windows will stop all this unwanted air flow.

Once the new windows are in place, you can stand or sit closer to the windows and feel comfortable. You’ll also notice that it’s easier to keep the house at whatever temperature you prefer. The comfort value that those new windows bring is reason enough to start looking around for the right replacements.

Lower Utility Costs

Along with preventing drafts and making it easier to control the indoor temperature, those windows bring another important benefit. Since it takes less energy to heat and cool the home, your utility bills decrease a bit. How much depends on the condition of the old windows and the insulation you have in the house, but it’s not out of the question for you to enjoy as much as a 25% annual decrease in heating and cooling costs.

What could you do with the savings? Buy something for the home that you’ve wanted for awhile. Put the money in an interest bearing account and let it start working for you. Pay off a debt and free up more money each month. It’s all up to you.

Preventing Damage to the Home

Have you considered the idea that those aging windows are causing other types of damage to the home? If they’re really bad, they may be allowing moisture to seep into the walls and lead to damaging wall studs. If that happens, you’ll end up spending a tidy sum to undo the damage.

Once you have the experts from the Newmarket Canadian Choice window company replace those aging windows, you don’t have to worry about additional damage. The new windows and the frames are tightly sealed so nothing can seep into the walls. That translates into not shelling out the big bucks for more construction work down the road.

Protecting the Home’s Market Value

You don’t plan on selling the house today, but you may decide to do so in a few years. Which house do you think buyers will want to see? The one with new windows that obviously will look great for decades, or the place with worn out windows that will need to be replaced soon? Along with enjoying the benefits of new windows now, they will also help protect the market value of the property. If you do decide to sell, windows that are in great shape will be a selling point.

Could your home use new windows? Have a contractor or two come out and discuss pricing and other particulars. With the right choice, those new windows will provide benefits for a long time to come.