Whetu Haanraads. apartments. March 29th , 2017.
Supertech Group was founded in 1988. We developed some of the modern and finest residential and commercial complexes in Delhi, NCR and new urban settlement like Meerut, Moradabad, Haridwar and Rudrapur. Since their inception they have been responsible for the development of many of Delhis other well known urban housing colonies. Their foray into real estate and construction industry led to the creation of various landmark real estate projects. Crossings Republik, Emerald Court, Avant-Garde, Shopprix Mall are few examples. Our residential townships have all the modern and essential facilities, which includes commercial and retail properties in a modern city infrastructure with schools, hospitals, hotels and shopping malls. The Supertech Group has created architectural masterpieces like Emerald Court at Sector 93, Noida and High End Residential Project with 7 star living facilities at Sector-34 Noida and a 7, 00000 square feet commercial hub, The Pentagon Mall in Haridwar. Supertech Group had tied up with an MNC Group to set up a 5 star Hotel at Rudrapur, Uttarakhand and a major health care company to open medical facility outlets in different format at all the projects developed by the Group.People looking to rent an apartment these days will find it is a more involved process than it had been in the past. Many rental companies perform background checks on prospective tenants to make sure they not only will be able to pay their rent, but that they have not been in trouble with the law. One way to make the process of locating an apartment easier is by using a professional locating service. In large cities such as Houston, there are a number of qualified people ready to assist you in getting the type of rental you want. The Houston apartment locators will work with you to find the right unit and location for you to live in.
All apartment complexes have a set of rules about life in the complex. This can cover such things as maintaining a common garden area, painting the outside of the building and repairs to the roof and external features like guttering and down pipes. Before you purchase your apartment find out what fees apply for the body corporate and what are the dos and donts they rule on. As an owner you have a voice on decisions made which affect the complex.
This will typically be 80% loan to value (purchase or refinance) - assuming borrower(s) have good credit (usually a minimum of 660 credit mid-scores for 80%) and the property has a debt service coverage ratio no lower than 1.15 (including any possible seller held 2nd). Regardless of income, most lenders won't approve more than 90% CLTV (combined loan to value including new 1st mortgage and a possible seller held 2nd). So even under the best of circumstances, without the absolute best of credit and HUGE cash reserves and extremely creative financing - you'll need 10% CASH down to purchase most apartment buildings + closing costs + generally at least 6 months of reserves to cover PITI payments. And this is assuming you have a property with 93% + occupancy and verifiable cash flow for the past 2-3 years. Vacant properties (or properties with high vacancy rates or below market rents), hotel/motel conversions and new construction will typically require more cash up front and larger reserves since these types of situations are considered HIGHER RISK to a lender.
Since recently there have been a lot of debate on what is better. With people having different reasons for choosing hotels over furnished apartments like Crescat Residencies and vice versa. Whether on a business stay or a family getaway they both offer amazing service that will keep you satisfied no matter what. They both have their similarities and there differences so below is a comparison between hotels and serviced or furnished apartments:
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