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
- Developing A Preventative Maintenance Program
- An Emergency Plan In Your Building
- Possibilities For Increasing Income
- Benefits Of Commercial Condos
- Help With Investment Real Estate
Preventative maintenance is one of the most important components of successful property management. An aggressive 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. Aggressive maintenance means trying to foresee any problem. Maintenance of any commercial or apartment building should be handled as much as possible on a routine basis rather than on an emergency one. 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……(more)
Building owners and managers are becoming aware of their obligations to prepare for emergencies that can happen in buildings. The examples of the terrorism emergencies or fires throughout the country and the world are reminders of what can happen. Emergencies happen when least expected, so office building and apartment managers must be ready in advance and have a plan prepared. Things that can happen are fire, power failure, bomb threat, crimes and civil disorders. Here are some components of a plan of preparation for emergencies in buildings.
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We are certainly all looking for ways to increase income. Sometimes the possibilities for changes are right before us. If you now own a commercial property or an apartment complex, you might try looking at the property with “new eyes” to see if you can spot any changes that could make you some extra rental income. Of course, if any structural changes need to be made, or changes that would be affected by zoning regulations, etc., proper permits need to be secured, and contacts with the government agencies that would be involved should be made in advance…….(more)
When the word condominium is mentioned, do you always think of residential properties? Of course, most condominiums are ones that people live in. But, let’s consider the other condominiums. There are all kinds. Any type of rental real estate can be converted to a condo. There are a growing number of commercial condos, many of them professional offices. The benefits are the same as owning a free standing building used as an office. A leading benefit is the security of having an owned unit free from any problem of having to move at the end of a lease period. Like owning any commercial property, interest on loans, taxes and expenses can be deductible…….(more)
When you have searched for new real estate investment opportunities, with values that have been changing, you know that finding and evaluating them is becoming more sophisticated and complex. More investors are turning to real estate consultants as a means of providing a sounding board for their ideas as well as expertise in the planning and construction stages for their projects.
Today’s investor in real estate must have a grasp of market conditions and potential that is usually beyond their own available time to attain. Investors need assurance about the true condition of the market. With increased competition, the market place is becoming more complicated…..(more)
