In this issue
- How To Prepare A Commercial Loan Request Package
When preparing a loan request package for presentation to the lender, the real estate borrower must be as complete as possible the first time. Insufficient, imprecise, or incorrect data in a loan request package can mean a rejection for an otherwise attractive real estate loan. Following are suggestions on things to include with the loan request package....
(more)- The Future Buyer For A Commercial Property
If you are new to investing in income property, you may have made a choice in advance of the type of investment property that you wish to own. There are many good types of investment properties: apartments, office buildings, shopping centers, high rise parking garages in downtown areas, warehouses, resort rentals and many others. Each of these takes a different type of management. Any and all should be under professional management during your ownership. Good management will ensure a profit for you when the investment is sold........
(more)- How Preventative Maintenance Saves BIG Money
Maintenance of any rental building, either residential or commercial, should be handled as much as possible as a routine rather than an emergency. Preventative maintenance must be performed on a regular basis to keep the level of service at the property high and to reduce equipment breakdowns and service interruptions. Toward this end, the maintenance staff and on-site manager should make regular inspections for the repair and replacement of items before problems occur. Preventative maintenance reduces the number of emergencies by anticipating wear and tear that the property, buildings and equipment will undergo. Preventative maintenance is one of the most important components of successful property management. An appropriate preventative maintenance program should be developed for both large and small properties, regardless of whether building staff consists of only a part-time maintenance worker or a larger number of employees supported by a computerized maintenance program.....
(more)- Protect Your Building’s Occupancy
Owners, managers, and brokers of new office buildings are usually anxious to fill their space, and to do so, they may not be above trying to charm your tenants away, even if your leases still have some time to run. Some new-building owners may offer to find sub lessees to sublet their prospects’ space in old buildings, and others may even go so far as to offer to help tenants pay their rents for the duration of their leases. Even if the demand for competing space in your area is high and you don’t have trouble filling your building, tenants who don’t renew their leases and tenants who leave the building before the expiration of their leases can cause serious problems. This article discusses an important provision that you should include in your lease to ensure that your occupancy level remains high.....
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