Commercial Estates

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Should I increase my rent? How much is justified ?

Assuming your rental property is in the best condition inside and out, a reasonable increase starts at $200-$300 above market rates. If there are no takers for at the first week to half a month, then try lowering it to $150-$250 dollars above market rates depending on the unit size. You don’t have to go penny pinching when it comes to your rental property improvements because done wisely, they guarantee a return on your investment. You don’t need to have a mediocre rental property to pay for itself and provide you with a sizeable income. Contented and well pleased renters stay with you on a long term basis and on top of that, they are willing to part with a good chunk of their money just to stay in a great living space.

Like all the other sectors in the properties market, the commercial real estate market is feeling the effects of the housing lending disaster. Vacancy rates for retail, office and industrial properties are rising. With the decrease in rental income, building owners are finding it hard to generate enough income to pay off mortgage loans. Some lenders are beginning to put foreclosed properties on the market. Tighter credit has slowed the sales in the urban property market. Reis Inc., a New York-based real estate research firm, recently estimated that nationwide prices for office deals were down 11 percent from last year, while retail property prices were off 4 percent and warehouse property prices were down 7 percent. Foreclosed property is now being offered at substantial discounts, way below the lots’ original prices. There’s no indication that the market will be improving soon, so debt restructuring might be a better solution to the real estate problem.

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Lease Vs Buy
Many businesses reach a point in which they are curious as to whether it would be beneficial for them to purchase a building rather than continue to lease space. While every business is different there are a few common factors that should be taken into consideration when evaluating whether buying a building space would be better than continuing to lease space. We will take a look at some of the pros and cons to purchasing compared to continuing to lease space.

The Next Step While the evaluation of the leasing vs. buying space decision seems somewhat overwhelming, there is help.  Getting advice and assistance from a commercial real estate professional who is involved in the business day in and day out can significantly improve not only the accuracy of any analysis, but in general simplify the process.  Many of the lease vs. buy factors can only be decided by you, but having a helping hand in the areas where space expertise is important will assure you of making the best possible decision.

San Francisco will be seeing an additional 3 million square feet of new office space in the years 2008 to 2011. This is forecasted as the biggest increase in new office space since 1985 and with the approval of residential units in the permit stage; an additional 45,000 new condominium units will be available for occupancy in the same period.

The Real Estate Investment Trusts believes that San Francisco can sustain rents as high as $100 per square foot by the year 2009. This may seem high but it actually represents only half of the projected rental rate in New York during the same period.

Commercial property in the strictest sense is real estate that is acquired with the intention to use as a profit generating business like a shopping mall, office complex, restaurants, service stations and the likes. The property may be purchased by the developer outright or leased from a bank or an individual property owner. Commercial is in some aspects distinct from industrial and residential properties.

A commercial property falls under the regulation of the zoning system of the city or town which has jurisdiction over it. When a commercial property extends to a different zone, it has to secure special permits from the appropriate agency to allow its operation in the different zone.

In efforts to recover from the devastation that resulted from the 9-11 attacks on the US mainly in Manhattan where the World Trade Center Buildings stood, the New Yorn and New Jersey Port Authority (which owns the land on which the new Freedom Towers are being built on) have released a statement that Beijing Vantone Real Estates has expressed a nonbinding agreement to lease property on the Freedom Tower which is steadily rising from the ruins of the former WTC.

Port Authority chairman Anthony Coscia said, “China Center’s expression of interest in the Freedom Tower, even before we begin our formal leasing program, strengthens our conviction that the World Trade Center site is a world-class business location. Serious interest from the China Center is a major milestone in our efforts to secure Freedom Tower tenants from around the world.”

This boosts the confidence of developers that the Freedom Towers is to become a viable commercial space for many global businesses that they are seeking tenants for.

A nationally acclaimed real estate developer in all areas such as , residential homes, offices, hotels and retail properties they are respected by the world’s lading architects. With projects such as the renovation of New York’s Upper East Side Classic, 995 Fifth Avenue and the Orion in the theater district along with one of the tallest residential developments in the NY area; the Ariel East and West, they lead the pack in some of the most innovative developers the world over. They have also developed some of the most prestigious and luxurious hotels around such as the W Hotel in Times Square and the acclaimed Inter Continental Hotel that overlooks Boston Harbor. Their work is a reflection of the combination of functionality, perfection and sophistication that makes for nice commercial spaces anywhere on the planet.

The move to reuse commercial properties has brought about the introduction of the Modern Loft houses that now dot previously industrial areas. The designs have become so outrageous that new buildings are being built to get the same feel as reused indutrial buildings that have been turned in to some of the most modern living quarters in the world. Previously preferred only by artists due to the amount of unrestricted space that allows the artistic mind to flow and come up with art that is sought the world over. Modern city dwellers are in fact lured to some of the hottest loft properties that the competition is quite heavy. Some of the most modern homes are owned by celebrities, artists and mostly everybody who loves unrestricted space and modern living.

The Peill and Co Commercial Estate Agents have been in the real estate industry for 25 years dealing with different aspects of commercial property. Peill and Co are highly skilled in different sectors of the market such as retail, office, industrial and development. Peill and Co was also known for its expert services in valuation, rent reviews and agency acquisition and disposal. The massive experience of Peill and Co has garnered a positive responses from almost every sectors and it aided the company in establishing a large and loyal group of clients varying from local investors to national developers and retailers. Peill and Co will aim to continuously provide top notch services to its clients.

Covering the London areas of Willesden Green, Queen’s Park, St. John’s Wood, Brondesbury Maida Vale, Kilburn, Paddington and Queensway, Allan Parker Estates has been in the real estate industry for almost 15 years and counting. This group of independent estate agents specialize in lettings, residential sales and property management. Every week, hundreds of people visit the AP Estates in search for a potential home or property. AP Estates is also consulted by large number of property developers who aim to seek properties that need to be renovated or repaired. AP Estates is located near Kilburn, London and its office hours are between 10 in the morning and 6 in the afternoon from Monday to Friday. During Saturdays, they are open between 10 in the morning and 2 in the afternoon.