Archive for November, 2010
Common Mistakes By Tenant When Renting An Office
If you are planning to take an office on rent then you owe it to yourself to ensure that the entire renting process flows smoothly. Many tenants discover after renting an office that they have got into a bad deal: not only have they compromised on quality they are also paying a higher than the normal market rent. Not being happy and satisfied with the new office premises can affect the business activities adversely. Here then is an overview of common mistakes that tenants must not commit while taking an office on rent:
1. Lack of planning: Most businessmen do not plan their office they just go ahead and choose a location and rent a space that catches their fancy. Nothing can be more disastrous. Before renting an office you must be clear about the preferred location office space area and the number of rooms required for your business activities. When you are inspecting an office for rent don’t forget to check things like access to ample parking space and the existing security measures in the building.
2. Appointing a broker: Many a people want to save on brokerage and prefer to work on their own or through friends rather than hiring the services of a professional real estate broker just because they want to save a few bucks. Now brokers being experts in the real estate field can in no time figure out the positives and the negatives of a property. So it is better to spend a few bucks extra on hiring the services of a professional broker rather than waste your own time and end up renting an office that you would want to change after a few months.
3. Inspection of office and its documents: Before taking an office on rent a tenant must inspect the office thoroughly for any wear and tear problems. The ownership documents need to be vetted too. It must also be ensured that the place is allowed to be used for commercial purposes and that it conforms to various safety codes and is built in accordance with the prevailing rules and regulations. You have to build in a clause in the lease agreement making your office’s landlord guarantee you on the aforesaid conditions.
4. Rent and security deposit: Before agreeing to the monthly rental many people do not benchmark similar properties and end up paying rent through their nose. It is important to compare similar office properties and find out the going market rent in that area before entering into negotiations with the owner. The security deposit must also be based on demand supply and the regular market norms. However if the owner of the office space seems to be in a tearing hurry to rent out his place you can always negotiate with him and save yourself some money.
5. The lease terms: A tenant must read the lease terms carefully. See if you are comfortable with the notice period. The owner has to give a guarantee that you will enjoy peaceful possession of the property and that you will be able to carry on with your business smoothly. Any disturbance/damages arising because of the office premises will have to be compensated by the owner. If you feel your business will outgrow your current operations then you have to insert a sublet clause just in case you have to move into a bigger office.
These are some common mistakes that many tenants make while taking an office on rent. You don’t be one of them just be cautious use our article as a guide and go about taking your preferred office on rent. Good luck.
About the writer: Nicholas Adams Judge is a freelance writer specializing in business politics and economics. He holds a B.A. in political science and will begin his PhD studies in political economy and public opinion next fall. He has studied economics and political science at a number of different institutions both here and in the U.K. including Amherst College Warwick University Oxford University and the University of MassachusettsAmherst.
Closely Guarded Secrets Of A Foreclosure Shark Revealed
I UNDERSTAND THAT EVERYONE HAS THE RIGHT TO MAKE A BUCK especially in this economy. But some of you out there and you know who you are need to be exposed for the greedy way in which you handle your business. I’m referring to a few companies that cater to homeowners by “helping” them get out of foreclosure. The correct name for this business is Loss Mitigation and this business model has been sprouting up all over the US following and feeding off of the housing crisis. Most of the Loss Mit companies out there are have been started by ex mortgage or ex collection people who have a very good grip on the concept of extracting money out of homeowners. The standard fee for a Loss Mit company to take your case can range from 1500 up to 3500.
HERE’S HOW THE BUSINESS MODEL WORKS; The Loss Mit company will advertise to homeowners who are in an active foreclosure or anyone who is at least 90 days late on their mortgage. The methods of advertising are usually online or by direct mail. The homeowner responds to the ad by calling the company and immediately speaks to a salesperson. Notice how I did not use the word counselor or specialist I said salesman because almost everyone in the Loss Mit field works on a commission basis. As much as would like to report differently there are very few bleeding hearts out there who will man the phones and help homeowners get out of foreclosure for free.
THE SALESPERSON TAKES SOME VITAL STATISTICS OF THE HOMEOWNER and then pitches the product; For 2000 we will fill out the correct forms gather all of the important paperwork and contact your bank to negotiate a Loan Modification for you. I have seen fees based on size of the mortgage payment size of the unpaid balance or just a flat fee for all who apply. Some cases are tougher than others but the time a Loss Mit company puts into each file ranges from 4 hrs and 10 hours of actual working time. Not bad work if you can get it huh?
IN FACT I JUST HAD AN OWNER OF A LOSS MIT company here in Maryland call me to see if I wanted to come work for him. I asked him what his pay plan was and this is what he told me: I would be on 100 commission I would need to charge at least 1500 and anything I charge above that I can keep. He said that most of his salespeople charge 2200 earning them 700 per closed file. He went on to say that I could make at least 300k in my sleep working for him. If that doesn’t give you the willies nothing will.
SO HOW DO I KNOW ALL OF THIS JUICY INFORMATION? I know this because I have a few years in the foreclosure rescue business myself but I’m a bit different than my colleagues. I’m frowned upon because I am viewed as the idiot who is giving away the store when he could be making a killing in this horrible market. I just don’t believe in charging people thousands of dollars in UP FRONT fees with NO guarantees for a service they desperately need. The homeowner is in a horrible spot and highway robbery is not the answer. They need that money to get back on their feet and some much needed necessities. I also feel that the average homeowner is smart enough to handle the job of dismissing their foreclosure by themselves but only if they are armed with the proper information.
THE BOTTOM LINE IS: no one is going to care as much about your foreclosure as you do NO ONE will work on your behalf for free and you don’t have the time to wait for the government to step in and save you. So you need to handle this yourself.
You’ve probably started to notice that traditional rules and etiquette have been replaced with greed and ruthlessness in the banking industry… but sometimes desperate situations call for desperate measures.
If you’re ALWAYS following conventional rules amp; you’re uncomfortable thinking outside of the box then you need to get over that frame of mind right now.
About the writer:nbsp;nbsp;Find solutions for your commercial mortgage needs at CommercialLoanWeb when refinancing or buying a
Multifamily Bank Owned Property or Commercial Real Estate.
Cheap Flat Fee MLS Solutions Provide More For The Money
Are you looking for a way to advertise your home for cheap FSBO and don’t know what to do? If you’re wanting to DIY and simultaneously save time and money then using a Cheap Flat Fee Realty is the best option. With today’s economic market issues Real Estate Agencies are a lot tougher to deal with. Discount Realtors simplify the process and hold a real estate license. They are just as effective as any real estate agent plus their services are provided at a discounted rate.
Cheap Flat Fee Realty ensures that your home is listed on the same local Realtor’s MLS without the expensive commission compensation you would otherwise be required to pay out because you pick the commission personally. You’re guaranteed increased exposure on hundreds of real estate websites utilizing a Discount Realty program and you’re in control of everything.
With Discount Brokers you take advantage of the opportunity to get the most for your money whereas with typical real estate agents you must go by their rules and regulations and it can take them a very long time to cooperate with you.
It can also be expensive not to mention they have difficulties overcoming the housing bubble in this economy when dealing with banks and lenders. They can’t guarantee they can help you out. People with zero equity or foreclosed homes are especially at risk for further loss if they go with the original methods.
MLS Brokers don’t use those ways and don’t have those issues because they have the freedom to work around the red tape that the others run into. Why keep getting trapped going nowhere fast? I’ve found a great company on a website that is capable of assisting specifically as well as dealing with FSBO property. There are five simple steps to list your property with an MLS Brokerage.
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About the writer: This Author is a huge fan of Cheap MLS Listing
