If you are the owner of a commercial properties, hold on for a rough year. 2010 will likely be the rock-bottom for the commercial real-estate market.
The silver-lining is that new investors will benefit if they are able to step in and buy up the properties. Sellers of these commercial properties have been hesitant to lower prices, however they will need to to get the property sold and avoid foreclosure. Both scenarios work in favor of the buyer, who, if they are able to secure a bank loan, or have the cash on-hand will find remarkable deals towards the year's end and into 2011.
Thursday, March 25, 2010
Saturday, March 20, 2010
HOA Rules and Regulations
Rules are meant to protect people and property, and HOA rules are the same way. While some people may be offended by the notion that they have to request permission to build a swing set, or put up a fence in their own back yard, there is always a good reason--or at least a good intention when an HOA set the rule.
If you do not want to live in a community that has restrictions on the size of shed you can put up, or how long your grass can get in between mowings, than perhaps living in an HOA community is not for you. But if you see the value in a neighborhood which abides by the same guidelines in order to protect the property values and the residents, then an HOA-neighborhood may be a great fit
If you are new to living in a homeowner's association regulated area and do not read the CCRs, it may be a bit of a shock to you the first time you are given a warning letter about a minor violation such as leaving your garbage can outside for several days after garbage day. But rest assured the committee member who noted the violation and the property management company that sent the letter to you are not "out to get you." No one likes to be the bearer of bad news--and if the issue is minor and a first-time problem, they will likely wave any fee if you take care of the issue quickly.
It is an adjustment if you have never had to follow the policies of an HOA, but in the end they rules are meant for you. After all, if there weren't a rule about keeping a rusted-out car in one's front yard, there would be little recourse for you if your next-door neighbor were to choose a '79 Buick as a lawn decoration!
Also, you should remember, if you feel that a policy of the HOA, or neighborhood covenant is unfair or ill conceived, you have the ability to have it put up for a vote if you are an active committee member. The HOA is there for you -- so participate and enjoy the benefits of having a community interested in protecting you, your family, and your home.
If you do not want to live in a community that has restrictions on the size of shed you can put up, or how long your grass can get in between mowings, than perhaps living in an HOA community is not for you. But if you see the value in a neighborhood which abides by the same guidelines in order to protect the property values and the residents, then an HOA-neighborhood may be a great fit
If you are new to living in a homeowner's association regulated area and do not read the CCRs, it may be a bit of a shock to you the first time you are given a warning letter about a minor violation such as leaving your garbage can outside for several days after garbage day. But rest assured the committee member who noted the violation and the property management company that sent the letter to you are not "out to get you." No one likes to be the bearer of bad news--and if the issue is minor and a first-time problem, they will likely wave any fee if you take care of the issue quickly.
It is an adjustment if you have never had to follow the policies of an HOA, but in the end they rules are meant for you. After all, if there weren't a rule about keeping a rusted-out car in one's front yard, there would be little recourse for you if your next-door neighbor were to choose a '79 Buick as a lawn decoration!
Also, you should remember, if you feel that a policy of the HOA, or neighborhood covenant is unfair or ill conceived, you have the ability to have it put up for a vote if you are an active committee member. The HOA is there for you -- so participate and enjoy the benefits of having a community interested in protecting you, your family, and your home.
Monday, March 15, 2010
Effective HOA Property Management
Finding a HOA Property Manager in the Carolinas isn't a difficult. Finding a good one can be!
Your Property Manager is a critical member of your association's operating team. You need to be able to rely on the Property Manager, or Property Management firm to oversee the landscape and facilities maintenance programs, submit bids for contract work, oversee billing and accounts payable and act as a liaison between residents and board members.
Choosing the right company to serve as your community's managing agent can be overwhelming—so we've put together a few tips.
The HOA Property Manager should be able to:
• Provide you with accurate, up-to-date financial reports on a regular basis.
• Provide overviews of your common areas and buildings' structural and mechanical elements
• Understand changing federal, state and local laws to avoid violations
• Maintain accurate, accessible files and records for your neighborhood, and make that information readily available to the HOA board and residents
• Attend any special meetings of the HOA board or residents
• Interact knowledgeably with other professionals like attorneys, accountants, engineers, etc.
• Respond promptly to inquiries from residents
• Maintain working relationships with reputable local contractors and service providers
If you are interested in learning what Kuester can do for your Homeowners Association, please check out our Property Management website.
Your Property Manager is a critical member of your association's operating team. You need to be able to rely on the Property Manager, or Property Management firm to oversee the landscape and facilities maintenance programs, submit bids for contract work, oversee billing and accounts payable and act as a liaison between residents and board members.
Choosing the right company to serve as your community's managing agent can be overwhelming—so we've put together a few tips.
The HOA Property Manager should be able to:
• Provide you with accurate, up-to-date financial reports on a regular basis.
• Provide overviews of your common areas and buildings' structural and mechanical elements
• Understand changing federal, state and local laws to avoid violations
• Maintain accurate, accessible files and records for your neighborhood, and make that information readily available to the HOA board and residents
• Attend any special meetings of the HOA board or residents
• Interact knowledgeably with other professionals like attorneys, accountants, engineers, etc.
• Respond promptly to inquiries from residents
• Maintain working relationships with reputable local contractors and service providers
If you are interested in learning what Kuester can do for your Homeowners Association, please check out our Property Management website.
Wednesday, March 10, 2010
Investing in Commercial Property
For serious investors, commercial property can be a lucrative purchase. Commercial property is a valuable resource that can be costly-but has a high ROI if managed properly.
A commercial property investment has a primary goal of generating income. You want your investment to work for you. Based on current market trends and future projections, you need to be sure that the value of the property will appreciate so that should you you need to, you can sell the property at a profit.
It is rare that you will have all the necessary capital necessary to invest in a new commercial property. Financing may be a crucial part of your investment. You will likely require a commercial property loan. To prepare for this loan, you you will need documentation on your business operations, your financial status and earning potential and the property title deed. While it is a buyer's market, lenders are none-to-eager to make loans unless they have assurances that their investments are protected.
You have your pick of plenty of great commercial properties, so shop around before choosing a piece of property. Your commercial real estate agent will be able to assist you in finding the best property for your needs and budget.
Investing in commercial property can be a smart way to grow your money, but not everyone can be successful--there are many factors that come into play, so take all the necessary precautions by choosing a good agent, using caution when choosing a property and hiring a reliable property management company.
For information on commercial property investing in the Carolinas, please check out our website: www.kuester.com
A commercial property investment has a primary goal of generating income. You want your investment to work for you. Based on current market trends and future projections, you need to be sure that the value of the property will appreciate so that should you you need to, you can sell the property at a profit.
It is rare that you will have all the necessary capital necessary to invest in a new commercial property. Financing may be a crucial part of your investment. You will likely require a commercial property loan. To prepare for this loan, you you will need documentation on your business operations, your financial status and earning potential and the property title deed. While it is a buyer's market, lenders are none-to-eager to make loans unless they have assurances that their investments are protected.
You have your pick of plenty of great commercial properties, so shop around before choosing a piece of property. Your commercial real estate agent will be able to assist you in finding the best property for your needs and budget.
Investing in commercial property can be a smart way to grow your money, but not everyone can be successful--there are many factors that come into play, so take all the necessary precautions by choosing a good agent, using caution when choosing a property and hiring a reliable property management company.
For information on commercial property investing in the Carolinas, please check out our website: www.kuester.com
Tuesday, March 2, 2010
The Importance of Landscaping in Commercial Property Management
Your commercial property is a major investment for your company. Enhancing and maintaining the look of the property can be a very cost-effective way to preserve and enhance that investment, and ensure your future income.Property management companies do a many things for the commercial property owner, but one of the most obvious from the outside is how the lawn, landscape and property are maintained. Landscape design and maintenance can help achieve a premium appearance for your property. Your visitors and prospective tenants will have a more professional image of your company, that of your tenant and the people who work in your buildings will enjoy coming to work in a more pleasant and attractive environment.
Additionally, well-maintained landscape will discourage vandalism, and create a safer environment for those who work, live, shop or play on your property.
Whether you own an existing facility, or are constructing new buildings, working with a property manager who sees the value in focusing on the outdoors as well as the inside structure of your building is critical.
Whether you own an existing facility, or are constructing new buildings, working with a property manager who sees the value in focusing on the outdoors as well as the inside structure of your building is critical.
If you would like to know how Kuester can assist you in the property management of your commercial building, please contact us at: 704.973.9019.
Subscribe to:
Posts (Atom)
