Real Estate, Safety, and You

In this video, consumers learn about the potential safety protocols they may encounter when working with a REALTOR®. It’s a great resource to share with clients to educate them about the importance of REALTOR® safety.

Spotlight

Zenprop Property Holdings

Zenprop is one of the largest property investment and development companies in South Africa. Founded in 1998, it has a track record for excellence, and has earned the reputation of 'best-of-breed' developer from its industry peers. Its property portfolio comprises a formidable mix of prime core investments - retail, offices, industrial and warehousing, and hospitality.

OTHER ARTICLES
Real Estate Investment, Asset Management

COVID-19 may advance trends in commercial real estate

Article | May 5, 2023

The coronavirus outbreak has quickly put the economy into turmoil. While many businesses are struggling to keep up with the drastic changes in the market, the commercial real estate industry may have some bright spots despite obvious uncertainties. The COVID-19 outbreak in the U.S. is expected to advance trends in commercial real estate that were established in the market before the global pandemic. Of course, the industry is facing some difficulties, but these are currently projected to only be short-term. In response to the coronavirus outbreak, the NAIOP Research Foundation is suggesting an increase in demand for both industrial and office sectors.

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Real Estate Technology

5 Ways to Build Wealth through Real Estate Investing

Article | July 21, 2022

When people talk about real estate investing, they often only talk about whether the value of the home goes up or down. While that may be true if your only investment was in your primary residence, it completely misses many strategies for creating wealth through investment properties. The fact is, there are five different ways owning investment real estate can help create wealth for you.

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Real Estate Advice, Asset Management

Should Your Real Estate Client Sign An Appraisal Waiver?

Article | May 9, 2023

Real estate professionals sometimes have to answer a buyer’s questions about appraisal waivers. What are they? What do they mean? Is it a good or bad idea for the home loan applicant to sign one? If your client is applying for a home loan, signing an appraisal waiver does not mean that the home won’t be appraised. The lender will insist on an appraisal, to ensure that they’re not lending more money than they can expect to recover if they foreclose on the mortgage. An appraisal waiver is a document loan applicants sign to tell the lender that they’re waving their right to receive the appraisal report at least three days before the loan is consummated. In rare cases, a real estate professional might have to draft an appraisal waiver letter. In that case, the letter should include the name of the applicant, the address of the property, and, if applicable, the number of the loan application. It should state that the applicant knows about the right to receive the appraisal report at least three business days before the loan is consummated and that the applicant waives that right. At no time does the applicant waive the right to receive an appraisal report.

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Real Estate Investment

3 Ways to Simplify Leasing Out Your Commercial Property

Article | July 14, 2022

You have a commercial property and you need to lease it as soon as possible. In an ideal world, you would find a client as soon as your property is vacant. But we do not live in an ideal world. As a property owner or manager, you need to list your property, get the right contacts, and find a buyer who is ready to occupy immediately at a price that's efficient to you. It can be a tedious journey. That’s where a broker comes in. Filling your vacant properties is essential but navigating a labyrinth of procedures shouldn't keep you occupied, which is whyleveraging a brokernetwork is so important. Here are three ways you can connect with brokers to make the most of their services. Updating Your Inventory List If you've tried handing a PDF of your current available listings, you might want to reconsider your approach for better chances of success. Brokers must be aware of the properties you have available if you want them to consider yours. The issue with online CRE listings is that many of them are outdated. This may cause a broker to think they’ve found an ideal property for their client, only to discover it’s already leased out. This doesn’t make a good impression. In addition, static listings are not search-friendly. To cut to the chase, deploy a search-ready, updated portfolio. Simplifying things for brokers will keep them coming back and contribute towards building a positive association with them. Sharing an Inventory List Right to Their Inbox Simplifying property search isn’t all. What are you doing to make a broker’s life much easier? You don’t need to spend a ton on proptech to reach out to brokers on time. Set up a commercial real estate email list that directly emails your updated listings to the brokers, providing them with timely alerts on when a new property is on the market or reminding them that an existing listing is still available. Providing Easy Access to the Property Information Regular emails about your updated property portfolio is bound to keep brokers engaged and informed. Going a step further, you can create a mobile-friendly property information page for each of your CRE properties to ensure that brokers have all the information they need at their fingertips. This avoids any bottlenecks caused by having the wrong information or no information at all about the specifications of your properties. A Final Word of Advice One of the most effective things commercial property owners can do to guarantee their properties are continuously leased is to engage with brokers, keep them updated, and simplify ways for them to interact with your property.

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Spotlight

Zenprop Property Holdings

Zenprop is one of the largest property investment and development companies in South Africa. Founded in 1998, it has a track record for excellence, and has earned the reputation of 'best-of-breed' developer from its industry peers. Its property portfolio comprises a formidable mix of prime core investments - retail, offices, industrial and warehousing, and hospitality.

Related News

7 Things You Should Know About Finishing Your Basement DIY Project

US News | October 26, 2016

Devon Thorsby https://twitter.com/devonthorsby Oct. 26, 2016, 12:31 PM Finishing a basement is a great way to add to your home's livable square footage, and it can serve as a major selling point when you put your house on the market. But basements can be tricky. Many homes have moisture and flooding issues in the basement because the space is below grade, making it prone to take on water from the ground outside. That’s not to mention the heating, plumbing and electrical systems that are all commanded from the basement. So how do you make a finished basement attractive yet accessible for the necessary systems in your home? Before you start covering your foundation with drywall, examine your basement and address any concerns you may have – whether it’s flooding on rainy days, humidity levels or worries about the state of your foundation. Once you’ve covered the bare bones of your basement with drywall, problems may not be obvious until the fix – and the price for that fix – has gotten significantly bigger. Hold off until you’ve addressed moisture issues. Waterproofing is imperative before finishing your basement, otherwise you’ll have to redo it once water damage or extreme moisture ruins drywall, carpeting and other items. A backup sump pump and concrete sealer can reduce the chances of moisture sitting in your basement, but because basements can take on moisture differently depending on their construction and location, you should consult a waterproofing specialist. David Schrock, owner and founder of Basement Spaces Inc. in Aurora, Illinois, will not work on a basement until moisture or water issues have been addressed. “I would make sure they contact a water-proofer prior to any kind of water issues, and make sure those are resolved before putting walls and things in,” Schrock says. Get permits and an inspection. It may seem like a no-brainer, but many home improvement DIY-ers skip this part of the process – and it often ends badly. A permit ensures you know what local ordinances require so any space you build is safe, and a follow-up inspection verifies it’s been done correctly. “That’ll at least make sure that things are done the way they’re supposed to be,” Schrock says. Plus, an unpermitted space can prove expensive when selling your home. Buyers may reduce their offer when they discover the space isn’t legal, demand it be inspected and permitted or drop their offer altogether. Test for radon. An elevated level of radon gas is the second-leading cause of lung cancer among Americans after smoking, according to the Environmental Protection Agency. If you haven’t tested for radon in two years, it’s time to do it again. And if you’re looking to finish your basement, focus the test down there, as radon gas enters the home through the foundation, and you’ll be spending more time below ground if you’re planning a game room or movie theater. “Even if the radon level doesn’t go up in the time they finish the basement, the amount of time they spend in the basement goes up. So they’ve essentially increased their chance of contracting lung cancer because it changes their habits,” says Nick Gromicko, founder of the International Association of Certified Home Inspectors. Create a second exit. If you’re planning to create a bedroom in your basement, most local codes will require an alternative way for people to get out, aside from stairs to the main floor, in an emergency. “Most basements aren’t built to be exited easily during a fire,” Gromicko says. There are two primary options for creating a second exit point: an enlarged window or a door. The first requires digging a window well, with a window large enough for a person to fit through and easily get outside. Otherwise you could add a full-size door with stairs on the outside or the classic cellar-style doors with stairs inside the basement. Both require some digging and will likely come with a hefty price, but it’s necessary to avoid anyone being trapped in the basement if a fire starts in the home. A Bilco brand cellar door and installation will cost between $3,500 and $6,000, says Jack H. Milne Jr., president of Tri-County Inspection Company, based in southern Pennsylvania and central and southern New Jersey. Install fire-stopping in the walls. Many local permits will also require preventive measures to keep a fire from spreading throughout your home. Fire-stopping a wall keeps a fire contained. It's typically done with horizontal blocks of wood and fire-resistant sealant between the wall and ceiling, and floor and ceiling to create a barrier between stories. “Say a fire breaks out in an outlet, it would go up the wall. And if you didn’t have the fire-stopping there, it would travel up the joist space and go elsewhere,” Schrock says. Proper fire-stopping helps prevent a fire from immediately spreading through the home from inside the walls and is instrumental in reducing the damage a house fire can inflict. Even if your local government doesn’t include fire-stopping in permit requirements, it’s a measure you should take when doing construction on any room – not just the basement – to better protect your entire home. Don’t box in your furnace. As you start putting up walls, your instinct may be to cover up the furnace and other unsightly appliances. But be aware of what you’re boxing in so you don't create a serious danger to everyone in the home. A furnace that’s trapped in a tight space doesn’t have enough fresh air for combustion. “It causes the furnace to backdraft and often create a carbon monoxide poisoning issue,” Gromicko says. An easy way to hide your furnace is to put a door with a vent on the furnace room, ensuring air can always flow in and out. Keep everything accessible. But the furnace isn’t the only thing in your basement you want easily accessible. A basement is the home to most systems – from water shutoff valves to your heat, electric panels and other wires – that keep your home running properly. The last thing you want to do is wall everything up, only to have to cut holes every time you need to do maintenance. Whether you opt for access panels at strategic spots or a drop ceiling with removable panels, the goal is easy entry to systems lining your basement. “You never want to lose the convenience that a basement can offer. And that may be for pipes, wires, speaker wire [or] hose bibs that you have to shut off for the winter,” Milne says. “You always want to have access.”

Read More

7 Things You Should Know About Finishing Your Basement DIY Project

US News | October 26, 2016

Devon Thorsby https://twitter.com/devonthorsby Oct. 26, 2016, 12:31 PM Finishing a basement is a great way to add to your home's livable square footage, and it can serve as a major selling point when you put your house on the market. But basements can be tricky. Many homes have moisture and flooding issues in the basement because the space is below grade, making it prone to take on water from the ground outside. That’s not to mention the heating, plumbing and electrical systems that are all commanded from the basement. So how do you make a finished basement attractive yet accessible for the necessary systems in your home? Before you start covering your foundation with drywall, examine your basement and address any concerns you may have – whether it’s flooding on rainy days, humidity levels or worries about the state of your foundation. Once you’ve covered the bare bones of your basement with drywall, problems may not be obvious until the fix – and the price for that fix – has gotten significantly bigger. Hold off until you’ve addressed moisture issues. Waterproofing is imperative before finishing your basement, otherwise you’ll have to redo it once water damage or extreme moisture ruins drywall, carpeting and other items. A backup sump pump and concrete sealer can reduce the chances of moisture sitting in your basement, but because basements can take on moisture differently depending on their construction and location, you should consult a waterproofing specialist. David Schrock, owner and founder of Basement Spaces Inc. in Aurora, Illinois, will not work on a basement until moisture or water issues have been addressed. “I would make sure they contact a water-proofer prior to any kind of water issues, and make sure those are resolved before putting walls and things in,” Schrock says. Get permits and an inspection. It may seem like a no-brainer, but many home improvement DIY-ers skip this part of the process – and it often ends badly. A permit ensures you know what local ordinances require so any space you build is safe, and a follow-up inspection verifies it’s been done correctly. “That’ll at least make sure that things are done the way they’re supposed to be,” Schrock says. Plus, an unpermitted space can prove expensive when selling your home. Buyers may reduce their offer when they discover the space isn’t legal, demand it be inspected and permitted or drop their offer altogether. Test for radon. An elevated level of radon gas is the second-leading cause of lung cancer among Americans after smoking, according to the Environmental Protection Agency. If you haven’t tested for radon in two years, it’s time to do it again. And if you’re looking to finish your basement, focus the test down there, as radon gas enters the home through the foundation, and you’ll be spending more time below ground if you’re planning a game room or movie theater. “Even if the radon level doesn’t go up in the time they finish the basement, the amount of time they spend in the basement goes up. So they’ve essentially increased their chance of contracting lung cancer because it changes their habits,” says Nick Gromicko, founder of the International Association of Certified Home Inspectors. Create a second exit. If you’re planning to create a bedroom in your basement, most local codes will require an alternative way for people to get out, aside from stairs to the main floor, in an emergency. “Most basements aren’t built to be exited easily during a fire,” Gromicko says. There are two primary options for creating a second exit point: an enlarged window or a door. The first requires digging a window well, with a window large enough for a person to fit through and easily get outside. Otherwise you could add a full-size door with stairs on the outside or the classic cellar-style doors with stairs inside the basement. Both require some digging and will likely come with a hefty price, but it’s necessary to avoid anyone being trapped in the basement if a fire starts in the home. A Bilco brand cellar door and installation will cost between $3,500 and $6,000, says Jack H. Milne Jr., president of Tri-County Inspection Company, based in southern Pennsylvania and central and southern New Jersey. Install fire-stopping in the walls. Many local permits will also require preventive measures to keep a fire from spreading throughout your home. Fire-stopping a wall keeps a fire contained. It's typically done with horizontal blocks of wood and fire-resistant sealant between the wall and ceiling, and floor and ceiling to create a barrier between stories. “Say a fire breaks out in an outlet, it would go up the wall. And if you didn’t have the fire-stopping there, it would travel up the joist space and go elsewhere,” Schrock says. Proper fire-stopping helps prevent a fire from immediately spreading through the home from inside the walls and is instrumental in reducing the damage a house fire can inflict. Even if your local government doesn’t include fire-stopping in permit requirements, it’s a measure you should take when doing construction on any room – not just the basement – to better protect your entire home. Don’t box in your furnace. As you start putting up walls, your instinct may be to cover up the furnace and other unsightly appliances. But be aware of what you’re boxing in so you don't create a serious danger to everyone in the home. A furnace that’s trapped in a tight space doesn’t have enough fresh air for combustion. “It causes the furnace to backdraft and often create a carbon monoxide poisoning issue,” Gromicko says. An easy way to hide your furnace is to put a door with a vent on the furnace room, ensuring air can always flow in and out. Keep everything accessible. But the furnace isn’t the only thing in your basement you want easily accessible. A basement is the home to most systems – from water shutoff valves to your heat, electric panels and other wires – that keep your home running properly. The last thing you want to do is wall everything up, only to have to cut holes every time you need to do maintenance. Whether you opt for access panels at strategic spots or a drop ceiling with removable panels, the goal is easy entry to systems lining your basement. “You never want to lose the convenience that a basement can offer. And that may be for pipes, wires, speaker wire [or] hose bibs that you have to shut off for the winter,” Milne says. “You always want to have access.”

Read More

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