Month: January 2019

Leasing Retail Space – Know Your Neighbors

Are Nearby Stores Complementary?
Next review whether the retail space you are considering is complementary to nearby retail establishments. For example, it would not be appropriate to put a liquor store adjacent to a school for troubled children. However, a dry cleaners, nail salon, office supply store and dollar store might all fit well in their neighborhood shopping center anchored by a major grocery chain.

Complementary Stores

Grocery stores, drugstores and gas stations tend to be complementary. In some cases, they are all provided by one retailer. For example, many of the Sam’s Club or super Wal-Mart’s have groceries, a drugstore and sell gasoline. In addition, there has been a growing trend for grocery stores to sell gasoline as a loss leader. Their objective is not to make money selling gasoline. Their objective is to increase the number of trips customers make to the store to buy groceries.
Category Killers

In some cases, “category killers” cluster in a power center. (A category killer is a retailer who stocks every conceivable item relative to a category. Office Depot is a category killer for office supplies. Petco is a category killer for pet supplies.) Having four to six category killers in one cluster is referred to as a power center.
More on Category Killers

The stores are not linked in a physical sense, other than being part of the same planned development. In other words, they were likely developed at the same time on one large tract of land, but there is no enclosed pathway between the stores. Other examples of category killers are Home Depot, Circuit City, Best Buy, Linens N Things and Bed Bath and Beyond.
Example of Complementary Uses

Another example of complementary use retail uses would be to put a beauty products store, hair salon, tanning salon, nail salon and spa contiguous with each other in the same retail center. Customers interested in one of these businesses may well be interested in at least one of the others.
Avoid a Deal Killer

Complementary uses can be a meaningful enhancement of a location. However, uses which are clearly inconsistent with your proposed location may be a deal killer.
Construction

When retail space meets the minimally acceptable standard for the previously discussed criteria, it is time to review the costs to prepare the retail space for your business. In broad terms, the costs include signage and the cost of renovating or redoing the improvements within your space.
Tenant Improvements

At this point, you need to know the landlord’s policy regarding tenant improvements. (Tenant improvements are worked performed to make space suitable for a business. It can include adding restrooms, demolishing and adding walls, floor coverings, window coverings, signage and virtually anything else related to physically preparing the retail space for your business.
Will the Landlord Pay?

The landlord is usually willing to fund tenant improvement expenditures provided he is confident the tenant has the financial capacity to pay rent for the term of the lease. If you’re representing a national retailer with a strong balance sheet, landlords will practically spend as much money as you request on tenant improvements. Of course, the cost of the tenant improvements will be built into the rental rate.
It’s Up to You

If you’re a start-up business with no track record and little capital, landlords will be cautious about expenditures for tenant improvements. They will likely want you to fund tenant improvements for your space. The benefit is your rental rate will be lower. However, you’ll have to include the cost of preparing your space for occupancy in your initial capitalization.
TI Details

Other issues related to tenant improvements include defining the work to be done, and who has financial responsibility for performing the work. If you’re a national retailer, you might provide a landlord with a detailed set of plans for your space. It is then up to him to cost effectively provide the buildout you are requiring. If you’re a smaller retailer, the landlord may provide a tenant improvement allowance, and require you to interface with contractors to have the work performed.
How Much TI?

The cost of tenant improvements occasionally exceeds $100 per square foot for second-generation retail. It is generally much lower. Even if the landlord is willing to provide substantial funds for tenant improvements, be cautious about the scope of work for tenant improvements. The landlord’s expenditure for tenant improvements is essentially a loan which will be repaid with your rent during the term of the lease.
Who pays for ADA?

If the space requires tenant improvements which require obtaining a building permit from the city, review whether you’ll have to replace the restroom because of ADA. (ADA is the Americans with Disabilities Act). In most cases, changes to provide ADA compliance are not necessary if you not require a building permit. However, a consequence of obtaining a building permit is typically that the space must be revised to completely comply with ADA. Replacing the bathroom so it is ADA compliant can be expensive.

The Market Research and Consulting division of OConnor & Associates provides information necessary to make decision to commercial real estate professionals. Occupancy and Rental Data, ownership and management information are routinely gathered for four major land uses multifamily, office, retail and industrial. This information allows investors to compare competitive properties, facilitate business decisions and track market and submarket performance. In addition the data is useful to brokers who for example continually monitor Houston retail space leasing, Houston office space leasing, Houston industrial space leasing, Houston apartments, Dallas apartments, Ft. Worth apartments, Austin apartments, and San Antonio apartments.

Buying A Property In Ghaziabad Why And Why Not

Aptly called ‘Gateway of Uttar Pradesh’, Ghaziabad is one of the well-planned cities of Delhi NCR. Rapid pace development has awarded it with the distinction of world’s second fastest growing city in the world. Situated strategically over National Highway-24, the the city has clearly got the location avenged. At present, a large number of realty projects are under-construction in the stretch connecting Delhi border and Dasna; it has kept Ghaziabad in radar of real estate buyers and sellers. With the proposed widening of NH-24 from 6 to 8 lanes, the traffic-flow would become smoother and hassle-free in the time to come.

Seekers of property in Ghaziabad are gong to get benefited by expansion of Delhi Metro. Currently, it is served by Vaishali and Kaushabi metro stains. With the expansion, the commutation time to and from Delhi will be further reduced. By 2017, the rail line is expected to reach up to one of its prime colonies, Indirapuram.

The 21-km Noida Ghaziabad link road is under-construction. Developed as part of Noida Master Plan 2021, this stretch shall reduce the commutation time from Delhi to just half an hour. This 75-m wide link road has garnered the interest of prospective buyers of Ghaziabad property. A series of constructions are on their way, and it is expected to become one of the high-growth areas of the city. With big metros of Delhi NCR fastly reaching their saturation level, in terms of future constructions, Ghaziabad comes as a fine alternative options. The rates are still reasonable if compared to Delhi and Gurgaon.

But on the downside, there are a number of factors that have balked its full-fledged growth. Poor infrastructure, high rate of lawlessness, and poor amenities are some of the adversaries that need immediate attention. There have been reposts of framers’ agitations against authorities: they are up in arms against the private planned townships that are to built over the land owned by them.

The current residents of Ghaziabad are facing a number of civic amenities problems. Some of the residents living in high-rise buildings have been slapped with abnormally high water bills. In spite of the fact that theses colonies have no supply of Ganga Water, they have been issued lofty bills. Then, there are other problems like sewage blockage and overflow.

A lot needs to be done on pay of government authorities. Till then, the prospective buyers will have to harp only on improving connectivity and afford ability factors.

Pg Real Estate Extended Its Functionality With 2 New Modules

Script for creating a Real Estate Website PG Real Estate was enriched with 2 new modules:

* Newsletter Module is a powerful marketing tool that will allow you to easily design HTML or text based newsletters and send them out to your site members. Site members are segmented into different mailing lists automatically according to their type (Private Person, Real Estate Agency or Agent of Real Estate Company) so that you could make effective targeted mailing informing your site members of promotions, site news and more.
* Mortgage Module will add a new section to your Real Estate Site – Mortgage Section. You will be able to provide your site visitors with current mortgage rates, built-in interactive calculators, mortgage tools and information. Your site visitors will be able to apply online, filling in application forms. Applications forms are compatible with Calyx Point and Fannie Mae LOS.

Now beside basic functionality PG Real Estate has 3 add-ons: new Newsletter Module and Mortgage Module and a module that was released earlier – Advertising Campaigns module.

For those who purchase PG Real Estate with All Modules, there is Special discount provided.

What Is A Reverse Mortgage Proceed

What is a reverse mortgage and what benefits it can give to the typical American senior, who fights with his or her small monthly incomes and with the increasing medical bills?
How does a reverse mortgage work and what are the qualifications?

1. The Taxes And Medicare.

The money received from the reverse loan is not taxable and does not generally influence on the Medicare or other social security benefits. However, if a senior receives payments from the reverse program and does not use the whole sum during the same month, the amount of the liquid assets may raise too high and there is a danger, that she or he will lose the eligibility to the public benefits.

2. What Is A Reverse Mortgage Proceed?

The guarantee for the reverse loan is the equity of the home, where the lender or lenders live permanently. The loan sum is calculated using 3 factors, which are the appraised value of the home, the age of the youngest borrower and the interest rate level. The older the youngest borrower is, the higher the appraised value of the home and the lower the interest rates, the more he, she or they can get. The legal maximum is $ 625.000.

3. How The Payments Come?

In this loan type the borrower will decide, how the lender will pay to him. The need of the money will usually dictate the schedule. The alternatives are the monthly payments, the lump sum, the credit line or the combination of all or some of these.

4. The Duties Of The Owners.

The borrower, or borrowers, will remain the owners with all the duties. The owner has to pay the property taxes, the insurances and to keep the property in a good shape. If either taxes or insurances elapse, this can lead to a default on the reverse mortgage.

5. What Happens At Closing?

The loan will be closed, when the last borrower will move away, sell the home or die. This is the time, when the home will be sold and a part of the selling price will be used to pay back the loan capital, the interests and all the costs. The rest goes to the owner or to the heirs.

If it happens, that the selling price does not cover the whole debt, then the obligatory mortgage insurance is used. It is important to notice, that the borrower will never use his other assets to pay the reverse loan, nor can he owe more than the value of the home.

The costs of this loan type are higher than those of the usual mortgage. However, this is a special senior loan and offers in some cases the only opportunity for a senior to get some extra incomes. Compared to the benefits it is not costly, but everybody have to judge this by himself.

The Advantage And Disadvantage Of Other Types Of Housing

Houses are one of the most popular types of residential Philippines properties today. However, there have been many other popular types of housing other than the typical house. These are condominiums, apartments, and townhouses. Each of these types have their own advantages and disadvantages for its residents or tenants. So what are the advantages and disadvantages of these other types of housing?

Condominium: Advantages
Condominiums have become very popular in the market even though it was only recently introduced in the market compared to townhouses and apartments. Here are some of the known advantages of owning a condo unit.

Compared in the past, condominiums have become more affordable, allowing the middle class of society to easily afford to buy one.
Location is also an advantage. Most condominiums today are found near or within major business districts which allows its residents to be within close proximity to their workplace, giving them the advantage to avoid rush hour.
Condominium complexes are also known for its amenities such as swimming pools, gyms, and recreational areas which adds to its luxury.

Condominium: Disadvantages
Although condominiums are one of the most popular types of residential Philippines properties today, there have also been several disadvantages to owning a condominium. These are:

Its monthly fee is one of the known disadvantage of owning a condo unit. Condominium owners are obligated to pay these monthly fee, other than their monthly electric and water bills, which are usually used to maintain the whole compound or building. It is also used as wages for maintenance personnel as well as its security.
Condominiums are also known for its restrictions from simple restrictions such as no pets allowed in the condo to extreme restrictions such as the number of residents per unit as well as restriction in children.

Townhouse: Advantages
One of the oldest types of residential Philippines properties, townhouses are still known for their advantages. These include:

Luxurious living experience, particularly because of its exterior designs that signifies wealth.
Some townhouses are also known to offer the same amenities that condominium complexes have.

Townhouse: Disadvantages
Townhouses are still known for its disadvantages such as:

Too expensive. Townhouses, particularly those from complexes, are known to be more expensive than the typical house.

Apartment: Advantages
For years, apartments have been known for its advantages for many Filipinos. These include:

Little capital needed. Unlike buying a house or a condominium, apartments are usually rented or leased which is much cheaper than these types of housing.
Apartments could also serve advantageous for many people looking for temporary residence such as students.

Apartment: Disadvantages
Like many other, apartments are also known for its disadvantages. Such disadvantage include:

Cannot provide the sense of permanence that other types can provide.
Tenants are prone to eviction.
The landlord is still the owner of the apartment, which gives him/her every right to modify their apartments as they please.
For more information visit to our site at http://www.atayala.com

Different and Similar Advantages of Condominiums and Condominium Complexes

There are two popular types of condominiums in the Philippines today, these are the condominiums found in business and commercial districts, and the kinds of condominiums found around the outskirts and provinces of Metro Manila. So what kinds of benefits can these both types of modern Philippines properties for sale can offer to their residents?

The Luxury of Accessibility In terms of accessibility, condominiums mostly found in business and commercial districts are known to provide such benefits. According to real estate experts, condominiums were first introduced in the country as a type of housing which caters to the needs of Filipinos who seek to live in a home near enough to access their workplaces easily and conveniently. And because of the location of these condominiums, many Filipinos were given the chance to live within walking distance from their workplaces as well as other popular entertainment places.

The Luxury of its Environment Other than condominiums found in business and commercial districts, there are also condominiums found around the outskirts of Metro Manila as well as in provinces. These types of condominiums are known as condominium complexes.

Unlike condominiums in the city, condominium complexes cater to the needs of a growing Filipino family by providing them with an environment suitable for a growing Filipino family, particularly for their children by providing them with a secure wide-open space for children to run and play safely.

However, what made condominiums even more popular in the Philippines compared to other popular modern types of housings is because of its maintainability and security as well as its collection of luxurious amenities.

Maintainability and Security Although other types of housings are also known to offer their own maintenance and security personnel, condominiums were said to be the first types of housings in business and commercial districts that offers their own maintenance and security personnel (although a number of apartments are also known to offer such benefits in the market.

Amenities Condominiums found in the city are considered as the only types of modern housings known to provide amenities such as indoor swimming pools, gyms, and recreational parks. However, other than these types of condo Philippines, condominium complexes are also known to provide their residents with popular amenities.

Other than the amenities that condominiums in the city are known to offer, condominium complexes can also offer a recreational park and a playground which are types of facilities needed by growing children.