Rainy season naturally attracts mixed feelings. You are glad the days of excessively hot weather are finally over and happily welcome nights of sound sleep, but then you dread heavy rainfall, high winds, thunderstorm, flood and other destructive consequences.
You can never be too prepared for rainy season, especially due to climate change and a rise in global sea level in recent times.
A rainy season dos and don’ts would come in handy but before then, see below some tips on how to protect your home in rainy season:
Maintain your roof
Strong and sustained winds are common during heavy rainfall and this can damage or remove your roof totally. Therefore, you need to invest in the maintenance of your roof.
During this process, you’d have the opportunity to identify minor damages and repair them before they become major problems and cost you more eventually.
Maintain a healthy drainage system
Inefficient drainage system is one of the major causes of flood and building collapse during this season. You should keep your drainage system functional and clean in order to intercept, collect, transport and dispose of water and keep away from your home as much as possible.
One of the best ways to maintain a healthy drainage system is to be mindful of what goes in there. The second is to clean you drainage system regularly.
Inspection after rainfall
After every heavy rainfall, you just can’t be sure of what you will discover. It is important to carry out a post-rain inspection to spot and clean up water or identify any damage that might have been done. Carry out both internal and external inspection: Check the basement, rugs, gutters, roof, windows, wall etc.
Whatever you discover, try not to procrastinate before repair. The next rainfall might just do the final damage to what you discovered.
Examine windows and doors
Even when you think you are fully prepared for rainy season, water can still seep through windows and doors because they are the most vulnerable to leakage. Carry out monthly inspection to be sure they are in good condition.
Painting wooden doors or windows can protect them from absorbing moisture or rain water during rainy season.
- Keep up with weather forecasts
- Trim trees and bushes next to the house
- Eliminate branches
- Look for erosion
Improving the aesthetic appeal of the place where you spend most of your time is a big deal. It doesn’t really matter if you’re doing this because you want to sell or you just got tired of the present state, a lot of benefits come with home renovation.
Home renovation can greatly improve your quality of life. It also has an array of short-term and long- term benefits. Though this entire process can totally disrupt your daily routine, here are 5 reasons to renovate your home:
Increase property value
Just a fresh coat of paint on the exterior of your home can instantly increase quality and value. This is because it’s the first thing buyers or visitors notice most of the time. Apart from highlighting architectural details, it also serves as protection against elements such as rain, storm and sun.
Painting is one of the cheapest forms of renovation. Emulsion paint could range between N800 to N1, 200 and gloss paint from N1, 200 to N1, 500 per square meter, depending on the brand.
One of the benefits of home renovation is increased functionality. For example, if you notice there’s unutilized space, you may convert this into extra bathroom, kitchen or bedroom and instantly increase the value of your property.
You can also upgrade facilities during this process.
Reduce maintenance cost
Home maintenance cost increases when minor repairs are ignored over a long period of time. One of the benefits of home renovation is that it will take into cognizance all the repairs and replacements to be made, thereby reducing future maintenance cost.
Another benefit of home remodeling is that you have the chance to upgrade existing security features, replace windows, doors, siding etc.
You can also consider installing proper locks, alarm systems, home automation technology and maybe cameras to protect your home and loved ones.
Enhance energy efficiency
One of the ways to save money during home renovation is to make moves to save energy. Simply upgrading plumbing and fixtures alone can make a lot of difference.
Changing the light bulbs, upgrading your bathroom/kitchen appliances and insulating walls are some of the ways to enhance energy efficiency during home renovation.
Real estate, like every industry, has changed over the years. Certain rules, though still relevant, should be taken with a pinch of salt. Especially if you seek high return on investment in the very dynamic business environment.
See below 5 tips on how to succeed as a real estate investor:
You may be in an environment where opportunities exist and still not know it. Networking allows you build relationships in order to recognize these opportunities and also seize them.
The more you network, more likely you are to succeed as a real estate investor.
Always study the market
No matter how good your properties are, market trends and events can really slow down your business. From a shift in global economy to government policies and regulations, understanding these factors can help reduce your risk.
Do a lot of marketing
Marketing is powerful and it delivers value. Don’t only market when it’s convenient for you. These days you can choose to advertise anywhere: Your social media pages, blogs,
Do your research before investing in any property and work with experts at every point of the purchase. Don’t do by yourself what you know should be done by a professional.
For instance, before buying a home, at the very least, you must work with a home inspector and a lawyer.
Focusing on a particular market would make your business grow faster than you know. This is integral to your long-term success as a real estate investor. You can move on to other markets once you have gained enough experience and stabilized.
Confidence is simply the faith you have in yourself and your abilities. Interestingly, there is a correlation between self-esteem, self-worth and confidence. According to Maslow’s hierarchy of needs, self-esteem proceeds self-actualization, the peak of the ‘Maslow Hierarchy of needs’ pyramid.
Positive self-esteem has been linked to psychological and physical health, career success and general fulfillment in life. Low self-esteem has also been shown to be an important predictor of unhealthy behaviors and psychological problems such as feeling of incompetence and suicidal ideation.
There are times when your belief in yourselves is shaken, questioned or threatened.
Can self-esteem be boosted? Yes it can.
One of the ways to boost self-esteem is to build self-confidence.
Here are 9 ways to build Self-Confidence:
- Keep a positive crowd: Stay away from/manage people who belittle you and your ideas and make you feel like you worth nothing.
- Do something you love: By doing something you’re good at or love, you’ll feel more competent, accomplished and capable of handling any task that comes your way.
- Challenge yourself: Never rest on your oars, always set new records.
- Relax: Anxiety and stress are not only toxic for your physical health, they can damage your self-confidence.
- Be Optimistic: Speak to yourself more than you listen to yourself. Confess positively
- Celebrate your achievements: No matter how bad, there must be one or two. Reminisce and celebrate them.
- Face a fear: Things are not as difficult as they look from afar. Face the fear.
- Use guided meditation: There is power in meditation and it boosts self-confidence.
- Don’t leave things undone: Always fulfill tasks that are expected of you.
Solar power is one of the most dependable sources of power and is pure energy derived from the sun. It is the conversion of energy from sunlight into electricity, either directly using Photovoltaics (PV), indirectly using concentrated solar power, or a combination.
Energy is the spine of any economy and this justifies the world’s dependence on it. China is leading the world in solar PV generation, with the total installed capacity exceeding 100 GW.
According to the “World Sunshine Map”, Africa receives many more hours of bright sunshine during the course of the year than any other continent in the world. Despite the large solar potential, penetration of solar power in Africa’s energy sector is still very low.
With less than 20 percent of the African population with access to electricity, there is a need to invest more in solar energy.
See below solar power and it’s many benefits:
Solution to global warming.
Global temperature rise, warming oceans, shrinking ice sheets, sea level rise and other extreme events are signs of an imminent global crisis.
However, the more we are able to reduce our dependency on fossil fuels, the easier it is to mitigate global warming. For this reason, solar power is one of the most effective solutions to the global warming crisis.
Renewable energy source
Solar energy is sustainable as it is obtained from an inexhaustible source. The sun will always shine and this makes solar energy a renewable source of energy. It provides enough energy in one minute to supply the world’s energy needs for one year.
Solar power is an extremely reliable source of energy because the rising and setting of the sun is consistent. Although clouds are not that predictable, short and medium-range forecasts are accurate.
Consequently, projections for the amount of sunlight that will be received in different locations are accurate depending on time.
Though the initial cost of purchasing a solar system is fairly high, your energy bills will reduce drastically over time and you would be saving a lot of money.
Low maintenance cost
Solar panels are made of tempered glass, so they’re built to withstand hail and other rough weather. The panels also have no moving parts which makes them incredibly durable and require little to no maintenance over their productive lifetime, which can span 25 years or more.
You could use automated cleaners that work similar to sprinklers, which can be programmed to clean your panels as needed. This is very effective in dusty areas.
The 5th edition of the Economic and Real Estate Outlook series organized by Fine & Country in collaboration with Business Day and Lagos Business School, recently took place at the Lagos Business School. The programme themed Navigating Change, served as a platform to set the tone for the year in the real estate Industry, while deliberating on the impact of the current economic and political climate on the Industry.
During one of the panels, MD/CEO, Afriland properties plc, Uzo Oshogwe, harped on the need for an urgent collaboration and intervention of real estate professionals to examine and propose a review of some government policies in order to create a conducive environment for the industry to thrive. ‘Government policies impact businesses directly or indirectly and the more unfavorable they are, the more businesses struggle to survive. We as professionals must make a conscious effort to take the lead in the appeal for a business-friendly environment’.
She also referred to the newly passed bill on land Use Charge by the Lagos State House of Assembly, awaiting the governor’s assent, as a development that could further deepen the challenges that exist in the sector.
Also present at the event were Mr Hakeem Ogunniran, MD/CEO, UACN Property Development Company, Mr. Ben Akaneme, MD, Imperial Homes, Mr. Adeleye Adeniyi, Head, Real Estate Finance (West Africa), Standard Bank Group, Dr. Henrietta Onwuegbuzie, Senior Lecturer, Lagos Business School, Mr. Andrea Geday, MD, Elelan Construction and other leading experts in the real estate industry.
Making high returns on your investments is not just a function of the size of your portfolio but also its efficiency and effective management. If your real estate investments don’t generate enough profit as expected, you need to restrategize. Rental property can be a great source of income but it can also be a huge headache if not properly managed.
The biggest areas for improvement that will positively impact your profits are occupancy, on time payments and maintenance.
See below 3 ways to maximize profit on your rental properties.
The quality of tenants that occupy your property is like the foundation for everything and a key determinant of how your investment will perform.
As a rental property owner, it’s absolutely vital for the collection of your rental payments to be timely. Payment delays are not good for your business. Bad tenants may also damage your property and leave a whole lot to be repaired. To avoid this, you need to do a thorough background check to ensure you won’t lease to tenants who would give you problems. You need to follow the basic tenant screening practices to identify the loop holes and act accordingly.
The goal is to find quality tenants that take care of your property and also pay consistently while you increase the cash flow from your rental properties. Late payments, stubborn tenants and property mismanagement is not only a nightmare but also ensures you don’t get the best out of your investments.
Tenant vacancy is always a huge issue for property owners. The longer the downtime, the more money you lose. One of the ways to manage this risk is to consider long lease.
You could reduce rental rates by giving discounts, depending on the number of years. This may lead to higher revenue especially if you give discounts and do a 3 to 5 year lease or more.
Some of the advantages of long lease also include the following:
- It attracts serious renters who are willing to commit to your property.
- Peace of mind knowing that there will be no vacancy for that period.
- Not doing repairs yearly will increase your savings.
Choose a good location!
This is still as relevant now as it was in the past, if not more. Oh yes, we know you’ve heard it time and time again, but we’d say it again; location matters and it still tops the list of factors that determine profitability in real estate investments. Before you invest in a property, do your research to determine and have an idea of the value potential tenants are willing to place on the property.
Some of the factors to look out for are proximity to amenities, neighborhood status, scenic views, etc.
Contact us for unparalleled Property Management services and property investment solutions that will improve your ROI.
The brain is always seeking out what’s new and what’s next, but we get better results when we focus. Focus improves efficiency and growth. Identifying what’s important and what’s not will also help determine what to focus on. Focus gives you the clear and sharply defined condition of an image, situation, task etc.
In the 16th century, there was a legal Chinese punishment called ‘The Chinese Water Torture’, where a continuous stream of dripping water strikes the same spot on the offender’s forehead for a prolonged period of time, cracking them up emotionally and leading to death in some cases. An investigation on the effectiveness of this torture found that it was effective, capable of causing so much damage even in a controlled environment.
That is what focus does. A drop of water would not have made an impact, but the consistency ensures each drop leaves the spot worse than it was.
As at the time of writing this article, 420 hours have passed from a total of 8760 hours of the New Year. If Les Brown’s quote expressed thus ‘What you focus on the longest becomes the strongest’ is anything to go by, then what you have focused on the most in the first 420 hours might turn out to be where you get the best results so far.
Staying focused can be tough sometimes due to several distractions and dwindling attention span. When you need to focus without distractions, here’s what to do:
Focus on what really matters
Identify what is worthy of your energy and what is not. Ask yourself, for optimum results, what really requires your focus today, tomorrow, this week, this month, this year? Make a plan and prioritize. Identify when you function better and take advantage.
Don’t let the tough tasks build up
Typically, we tend to take care of the less tedious tasks before we move on to the tough ones. As you continue your tasks, your energy level drops, and sometimes, so does your productivity.
If the task requires creativity and more concentration, carry it out before you move to the less difficult ones.
The same way you ask what needs your attention, you need to ask and understand what is worthy of your distraction. While at work, you can schedule a time to attend to some of these necessary distractions. Eg. Checking your phone etc.
Pause to replay
Sometimes you need to take a few minutes break from everything to re-energize your brain. Brief mental breaks will actually help you stay focused on your task.