Author: Buy2Greece

Writing A Perfect Vacation Rental Agreement

The main purpose of letting out rental homes is to earn from the property and get returns out of the real estate investment. It is important to find guests who abide by your terms and conditions, and keep your rental home in good condition during their stay. rental agreement However, at times disputes tend to occur due to various reasons, and it is important for the rental owner to deal with them in the correct manner. A recommended way to streamline the rental process is to create an acceptable rental agreement between you, the owner of the rental property, and the guest who is the occupier. Rental agreements serve a dual purpose – they specify the conditions of occupying the dwellings in black and white and form a legal agreement that acts as a deterrent for the occupiers if they intentionally or otherwise choose to misuse your property, and they provide a way out for you in case of disputes. While you can certainly work out the rental agreement on your own, it is worth checking out some pointers that can help you draft an effective rental agreement and avoid probable issues later on.

Offer a definite rental finalization date
More than often rental owners miss out on lucrative guests simply because they wait too long for the formalities to get completed and receive the payments. It is imperative to fix a specific date by which the agreement should be signed by both the parties involved and obtain the rental amount. Rental occupiers generally approach many owners before they finalize upon a specific home. They prefer to wait for negotiations to occur, and subsequently try to avail a lowered rental price. Since they are not in much of a hurry to finalize the deal, it is up to the rental owner to take the initiative and hurry things along.

Securing your rental
It pays to secure your rental in some way or the other. One of the best ways of doing it is to receive a token or advance payment in the form of a retainer. The idea is to commit your guest to the rental, so a non-trivial amount should be fixed as a retainer. It is important to specify the nature of the advance option. You could accept it as a part of the actual rent payable, or as a refundable deposit which can be redeemed in case of cancellations.

Avoid future pitfalls and issues
The nitty-gritty of the rental can create issues later on at the time of occupying the home. Sometimes guests tend to complain, or appear dissatisfied with what they have rented after finalizing the offer. The issue may be related to the amenities offered by the rental, the duration of the stay, the location preference, or any other reason. It is important to specify exactly what you are offering and what your guests are renting. So don’t just rely upon verbal discussions or talks – get everything in writing. Before signing the agreement, renters are supposed to thoroughly read the contract, and this is when many aspects associated with the rental are made clear.

Getting the dates and occupiers right
One of the commonest issues faced by both the rental owners and guests is the time and duration of booking the rental, in addition to who will be occupying the home. This can generally occur due to misunderstandings or a lack of clarification, or misconception, on the part of the property owner or the guest. So it is wise to include the specific dates and times when the guests should check in, for how long they are expected to occupy the premises, and the names of individuals who will be staying, in the agreement. The payment related aspects can also be included to further consolidate the agreement.

Specifying the mode and time of payments
The mode of payment can be a cause of concern with rental property owners. While most owners are completely satisfied with bank checks and pay orders, a few rental owners prefer their payments through PayPal or credit cards. It is a question of how quickly you prefer to receive your payments. Moreover, you need to apprise your guests how much in advance they are required to pay to confirm their stay by making the retainer payment. It would help them to make arrangements for the payment.

Accident claims, insurances, and cancellation charges
In the event you guest may undergo an accident or suffer a certain financial loss due to any reason, you need to clarify that you are not to be held responsible for it, and will not be liable to pay any compensations. You should clearly specify that you do not provide any types of insurances or are liable to honor any type of claim in any way or manner for anything that happens to them during their stay. You should also specify the cancellation charges due to you in case the guest decides to postpone or cancel his or her rental.

Legal consents and signatures
It is good to follow the policy of including the guest’s consent in the form of signature on every page of the rental agreement. It is just a legal formality in case the guest decides to sue the rental owner by manipulating legal documents after he or she has signed it. If you prefer using electronic form of correspondence such as emails to work out the rental specifics with the guest, it is advised to use electronic signatures to legalize your correspondences.

From watches, cars and wine to Chinese classical art and courtyard houses, China’s ultra-rich love collecting. 60% of Chinese millionaires have a collection of some sort, and they consider it investment and hobby – all rolled into one.1

Naturally, this bodes well for the rest of the world. Many hunger for Chinese buyers, whose massive spending on luxury goods has now made them synonymous to walking fountains of wealth.

The newest toy China’s super-rich have their eyes on are superyachts, which used to be a niche pastime for Chinese.2

However, before yacht companies begin counting their chickens before they hatch, they better understand some of Chinese buyers’ unique preferences and taste.

Chinese buyers can have varied requirements for their yacht. They tend to go on day cruises, but they prefer more shade and less cabins. Entertainment is vital, so they want karaoke machines and space for mahjong tables.2 Catch our drift here?

The same applies to selling luxury homes to Chinese buyers. The first thing you need to ask is: what do Chinese overseas property buyers want?

Here are some quick pointers:
Wok kitchens: Chinese cooking requires a separate space with strong ventilation, so incorporating a wok kitchen is a huge plus point.3
Location and position: Chinese buyers may prefer not to buy properties facing a T-junction, blocked by a railway or in a cul-de-sac. In feng shui beliefs, these locations either generate negative energy or create an energy blockage.4, 5
Lucky numbers: Chinese buyers may be turned off by properties with the unlucky number “4”, which sounds similar to “death” in Chinese. Instead, promote those with the lucky number “8”, or consider changing the numbers to avoid having the number “4”.3
Low-maintenance properties: Generally, properties with a sprawling garden may spell “hassle” to Chinese buyers, many who may prefer paved backyards that require no maintenance.4
If you have properties that match the above, then you’re on the right track. Your next step is to make sure those features are properly extolled to prospective Chinese buyers.

Sources: 1. Hurun Report “The Chinese Millionaire Wealth Report 2013” ; 2. SCMP; 3. WSJ; 4. Property Observer; 5. The Telegraph

Google makes it easier for travel agents with its latest innovative search engine techniques. Google is rolling out a couple of new advertising products for hotels and wholesalers. The latest report by Evercore highlights this idea. Entitled as ‘Google’s Travel Plans in a Post-Atomic Era’ this report serves as follow-up to Google’s Summer Online Travel Plans, which was published in June, and Travel Industry’s Trip in the Cloud (March, 2013).

Through this new travel initiative, Google would afford suppliers and brands a method in which to make “Limited Offers” (via Suppliers / Wholesalers) and, more importantly, expects to roll out a new “captive demand” platform in partnership with the major brands which stands to integrate loyalty / reward information into a logged-in Hotel Finder travel search experience, likely leveling the Search playing field in travel like we have never seen before.

A Google Travel study shared with its Hotel Finder partners seemed to point to Google getting much more involved in travel bookings, and the need to make the booking path more efficient, Evercore states.

The next big fight around airline fees isn’t about how much a window seat costs—it’s about where you’ll see its price and how you purchase it.

In the six years that U.S. carriers have been feverishly unbundling various elements of air travel into separate products and services, passengers have been paying for all of these—bag fees, assigned seats, priority boarding, Wi-Fi access—directly to airlines. Now travel agencies want a piece of that action, too. They’re pressing federal regulators to require airlines to make their ancillary products available for sale through third-party vendors alongside air tickets.

“Consumers have that fundamental right to know the upfront cost of their entire trip and not be surprised at the airport by extra fees charged by the airlines,” says Philip Minardi, a spokesman for the Travel Technology Association, which represents online travel agencies such as Expedia (EXPE) and the Priceline (PCLN), and the three major global distribution systems (GDS), which publish fares to travel agents.

The U.S. Department of Transportation is already considering a rule that would make airlines disclose baggage fees and seat assignments through travel agents and websites that sell airline tickets. But travel agents says that’s not enough.

“If consumers can see a fee but not purchase it, they really haven’t solved a problem,” says Andrew Weinstein, executive director of Open Allies for Airfare Transparency, which represents about 400 corporate travel managers and travel agencies. And, he adds, it doesn’t make sense for airlines not to let others process bag fees and other optional charges. “We think airlines are actually leaving cash on the table by not pursuing all these distribution channels.”

Some carriers have made tentative forays into expanding the sales channels for their extra products, with United Airlines (UAL) selling its extra-legroom seats and Air New Zealand (AIR:NZ) its three-seat Economy Skycouch through travel agents.

One reason airlines have resisted wider distribution of these extra products and services is because of their painful experience with the Internet. Airfares took a steep hit when comparison shopping online became quick and easy, forcing carriers to match fares on most competitive routes, down to the penny. To battle that type of commodification, airlines now seek to differentiate their products and services, such as early boarding and seats with extra legroom, in the hope that travelers won’t always shop strictly on price.

“We believe this proposal overreaches and limits how free markets work and will needlessly inhibit market innovations that are developing to meet customer demand for customized information,” Victoria Day, a spokeswoman for Airlines for America, the U.S. carriers’ trade group, wrote in an e-mail.

Source:-Travel Tech

Fairfax Financial Holdings Limited is a financial services holding company whose corporate objective is to achieve a high rate of return on invested capital and build long term shareholder value. The company has been under present management since September 1985.

Colony Capital, LLC is a privately-held independent global real estate investment firm founded in 1991 by Thomas J. Barrack, Jr. Colony Capital has an extensive global footprint and corresponding infrastructure, with over 400 employees operating in a total of 12 offices in the following 9 countries: China, England, France, Italy, Lebanon, Luxembourg, South Korea, Spain and the United States. This global infrastructure provides Colony Capital’s acquisition team with proprietary market knowledge, sourcing capabilities and the local presence required to identify and execute complex transactions.

In the twenty-three years since its inception, from a single Los Angeles-based office, Colony has invested in diverse and complex property, corporate, and portfolio transactions across five continents through varied economic cycles. Since inception Colony has invested $56 billion of investments in over 34,000 assets/loans and has ~$20 billion of assets under management (gross) with more than 300 investor relationships.

Colony has applied its investment strategy throughout a variety of market conditions. Through the identification of supply-demand source imbalances in capital, product types and information availability, Colony achieves attractive risk-adjusted returns by investing in real estate and real estate-related debt investments, non-performing loans, distressed assets, real estate-dependent operating companies, and select commercial and residential development opportunities throughout the world.

Strategy

Colony Capital’s strategy is guided by an investment philosophy based on three key principles:

• Cautious Contrarianism: during downturns or secular changes, investing in out-of-favor sectors or markets to exploit misalignments

• Exploitation of Inefficiencies: capitalizing on information advantages to identify micro-market imbalances and secure investments on favorable terms

• Value-added Management to Optimal Exits: creating capital appreciation opportunities through repositioning, restructuring, development, and intensive management

Invel Real Estate Partners was established in March 2013 to take advantage of opportunities in the European real estate market by offering investors the ability to co-invest on a transaction-by-transaction basis. Our target investments involve corporate and government restructuring, complex capital structures, and/or asset redevelopment and repositioning

Eleftheriios Vernizelos is at Spata, 33 kilometres (20 miles) southeast of Athens. A taxi ride to the centre will cost a flat rate between 5 am and midnight. The fixed fares include the basic fare, VAT, extra luggage charges and road tolls. The Metro goes to the centre. The journey to Syntagma takes 27 minutes. There are airport buses to Syntagma (X95) and Pireaus port (X96). Travel time to Syntagma takes around 1 hour, to Pireaus port around 1,5 hours. There is no direct metro connection to Piraeus from the airport.

http://www.ryanair.com/en/flights-to-athens/

Athens is the land of gods and goddesses, the birthplace of philosophy and the city that literally invented hedonism – what’s not to love?! Book flights to Athens and feel the ancient atmosphere for yourself. Stroll down the city’s lovely promenade in the morning and explore Athens’ beautiful ancient ruins during the day. Wait to see the acropolis at sunset, and during the balmy evenings, head out to the bars for a little taste of that famous Greek hedonism! If you want to really experience the history and majesty of Greece, book flights to Athens with Ryanair.

4 September 2014

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AUD:USD Australian Dollar – US Dollar 0.9332
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EUR:GBP Euro – Sterling Pound 0.7987
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EUR:SEK Euro – Swedish Krona 9.2128
EUR:USD Euro – US Dollar 1.3140
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