• 15Jan

    Property Maintenance Tips To Keep Down Costs

    Property Management Comments Off

    After years of owning rental properties there are a few things I have learned.  I would like to share a couple of them with you so hopefully you can take advantage of them now instead waiting thirty years and only learning them by making mistakes.  If you can take the knowledge that others have and apply it, then you can be way ahead in the propery management game.

    First, if you remodel don’t go overboard on making things look too nice.  Always choose a heavy vinyl for the floor in the kitchen and the bathroom.  This covering will last a long time and it is easy to seal up so no water will leak into the sub-floor.  I made the mistake a couple of times of putting tiles on the floor.  This was very costly because there was a grout failure and the water seeped under the tile for months.  When I asked the tenant about the broken gout line they said they didn’t know how it happened and they didn’t think it would me a problem.  Well, it was a several thousand dollar problem two times.  I finally learned my lesson.

    Second, if there is a garage then spend the little bit it costs to apply a garage floor sealer.  This does three things.  It protects the floor from oil stains.  I have yet to have a tenant in a duplex that did not have a car with an oil leak.  It covers up any stains which were already present.  And, it allows you to apply a non-slip additive to the floor so you don’t get sued when someone slips on a wet floor.  This can be very costly and even if you win the lawsuit it will end up being very expensive in attorney fees.

    Lastly, never let the tenant paint anything.  I have never seen a tenant with good taste and I always have to go in and repaint any rooms they paint because it turns our so gaudy.

    I hope these tips help you because I spend a lot of time and money before I realized how important they were.

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  • 28Nov

    Commercial property insurance – why you need it

    Commercial Property Insurance Comments Off

    As in any other domain, in real estate too you need coverage if you intend to make an investment. Commercial property liability insurance is your best ally if you decided to expand your business or simply to place your savings into a commercial property.

    Commercial properties are now a great deal: the prices went really down and you can buy large properties on very little money. Whether you want retail, industrial or office property, you have a lot of offers to choose from. Actually, the fact that the market it’s practically flooded with commercial properties for lease is the main reason why really need a commercial property insurance. The coverage will save you in case of tenant damage, fire, etc.

    A reliable insurance policy has a high level of coverage for your real estate in general and commercial properties in particular, which can safe you a ton of heart ache far down the road. 

    Don’t try to do this kind of transaction on your own: by the moment you’ll notice you made a big mistake, it will be too late to fix it. So, take all the necessary precautions and hire a competent commercial property insurance consultant to provide you the needed expertise on the subject.  

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  • 28Nov

    How to select the right commercial property consultant

    Commercial Property Comments Off

    Now it’s the right time to invest your money in a commercial property, rather than investing in the stock market. Prices dropped with almost 45% from 2007, but all the real estate analysts think that we reached the bottom. So, you have some cash, there are a lot of great opportunities. Buying commercial properties is a huge business decision, so you need a professional on your side. Select an established real estate company and a very good commercial property consultant.

    Whether you want a commercial property to expand your business or you want it as an investment, you can’t deal by yourself with the whole process related to a big property acquisition. For a good deal, you need a great business partner – there are some tips for you, to make sure you selected the right commercial property consultant.

    1. A professional consultant will never pressure you to buy a certain property. He will take the time to analyze your needs and he will make a personalized set of offers, just for you. A proper commercial property needs to have a lot of information about the properties on the market in your region and he has to select and to present you only those that suit your needs.
    2. Big, established real estate companies only hire very good professionals – so, if you’re working with such a company, it’s very likely you’ll get a competent commercial property consultant.
    3. Use all the resources you have to make sure the company and the commercial property consultant are indeed reliable. A good place to start is the Internet – if there is something wrong with that company or if they have a lot of complaints from the customers, you’ll surely find some references about that online.
    4. Make sure to meet your commercial property consultant at his office, at least once – that way, you’ll see for yourself if it’s a reliable, professional company.
    5. Ask the commercial property consultant how many offers he has on his database and how many sales he made in the last year – it’s very important to work with an experienced professional.
    6. If your commercial property consultant presents you a lot of properties that have nothing to do with your needs, it’s time to start looking for a better one. Either he didn’t listen to what you told him, or he’s just trying to sell some properties without considering your best interests.
    7. After you decided on one property, make an independent evaluation of the building or of the land and ask an independent lawyer to take a look to the papers – you can never be too cautious about your money.

    Commercial properties are, right now, one of the best investments you could make. The prices are very low, so low in fact that probably they have reached the bottom, so don’t waste any more time and make a profitable investment. The second best investment is liability insurance for those properties!

    All you need right now is a professional, reliable commercial property consultant – it’s very hard to find the right property on your own.

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  • 22Oct

    A Cupcake Stand for a Great Open House Display

    Blog Comments Off

    Cupcakes make every event a friendlier and more open time. Display your cupcakes on a cupcake stand for maximum effect. As realtors you know the value of branding so don’t let this opportunity go untapped. Take every cupcake and put your logo or company initials on them. If you’re real estate business name fits, put those on it. Find an aspiring pastry chef, who would like the publicity and is willing to work for less, if you don’t decorate cupcakes well.

    I love a tiered cupcake stand to make cupcakes really stand out. You might choose just a two-tiered cupcake stand if you’re anticipating just a few visitors. But if you’ve got a hot commercial property, then go for it. A five-tier cupcake tower will welcome your guests and show that you mean business. Of course a coffee urn is the way to go. Guests can quickly pour a cup, add milk and sugar if they wish and grab a cupcake or two.

    To make a statement have some cupcakes boxed up and ready for your guests to bring home to their family. Of course the cupcake boxes will have your name, business, logo and phone number on them. Foodies are everywhere and they make great customers.

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