Using a Camera As a Property Investment Tool

The simple camera can be a vital tool in property investment. Taking pictures wherever possible is even more feasible in the days of digital cameras and digital storage. However, even if we were still using a camera and film the strategy of using a camera can still be invaluable.

When inspecting the property take pictures of everything you can. The process may involve taking a hundred pictures over the course of one property inspection, so you may feel like a tourist on holiday but trust me, it is worth it.

These pictures are important because they represent the condition of the property, but even more so for the evidence of fixtures. They are a literal snap shot of what you agreed to buy when you entered negotiations. Once an agreement for sale is in place and it is time to settle you now have that evidence. This is important because in some cases the seller will remove property fixtures between sale and settlement, so you need to check that what you agreed upon is there. Also check the standard of the property is the same as what you agreed.

While the rule of taking pictures is largely for the property settlement process, they will also be valuable should you decide to rent out the property. Having documentation proving the quality of the premises and the fixtures is imperative when renting out property and this documentation can be even stronger if supported by photographic evidence. Some wear and tear on the rental is expected. However if you feel damage has been done beyond that, or if you think something has been stolen, then evidence is needed to prove so.