This month's newsletter has just been released! Check out the latest tips for tenants and users of commercial real estate space. In this issue
- How Professional Management Enhances Value
All owners want their properties to have increased income and so increase in value during their period of ownership. The first-rate property will command the highest price when it is sold. To achieve these goals, income property must be properly managed. The major error that can be made by an income property owner is saving money by self-management. The professional investors know that enhanced value usually comes from professional management. Since professional management teams have experience and training in the field, they will usually increase revenues and cut costs. Since the value of a building is based on the condition of the property and the cash flow, this management should increase the value and keep it at its highest potential. The difference is the professional’s ability to define and execute management duties.....
(more)- Pre Leasing to Secure Construction Financing
Banks will be making some loans on real estate during this year. The borrower will have to have documentation on everything. The loan application must be perfect.....
(more)- Dealing With Delinquent Rents
A critical indicator of a management company’s success is their effectiveness in controlling overdue rents. A well-run property should not have chronically delinquent tenants. However, when delinquency does occur, immediate action must be taken. A list of all delinquent rents must be prepared showing all tenants who have not paid or for those who have partially paid rents and other monies due. In addition, a delinquency report recording the manner and date of all collection attempts should be prepared. When initial notification of the delinquency does not help, the property manager should review the lease’s termination rights and consider possible legal action against the tenant. Should a delinquent tenant suddenly vacate the premises, late charges and legal fees should be deducted from the security deposit.....
(more)- Profits Found In Conserving Energy
Any savings in expenses that have already been budgeted can be turned into spendable income. One expense that can be controlled to some degree is the energy used for lighting and for air conditioning....
(more)- Investing In Industrial Properties
If you haven’t considered industrial properties as an investment vehicle, it may be time to take a look. Warehouse and distribution (W&D) properties are of interest because their standard layout suits a wide range of users, in contrast to specialized manufacturing facilities. Industrial properties look good for the following reasons: The market for industrial property is doing well with vacancy rates nationwide below those of other commercial buildings....
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