Common Area Maintenance (CAM Expenses) – Operating Expenses Common Area Maintenance (CAM) expenses refer to the costs associated with the operation, maintenance, and repair of
Yardi and RealPage, companies that provide rental company software solutions, have been sued by the Department of Justice for facilitating escalating rents using Big Data.
Through the strategic deployment of AI, commercial real estate professionals are poised to embrace a paradigm where operational excellence, data-driven insights, and strategic agility converge, underscoring a trajectory of sustainable growth and enduring success within the dynamic tapestry of commercial real estate. In the end AI will help us be more efficient and make more money for our clients – and we may look smarter in the process.
Today, the news we all hear for commercial real estate and commercial property management is not great. The amount of commercial asset debt that is
When evaluating a commercial property to understand its value, the desirability, the real numbers, one has to research the property and perform some level of
Collectively we need to prepare to live much longer than our parent’s generation as the average life expectancy in the United States keeps growing. This means the amount of money we need for retirement keeps getting greater. Additionally, healthcare costs also continue to rise the older you get especially once you get into your sixties and beyond.
These above facts are not presently being announced proudly by any government agency, nor are any private institutions warning the public. Unfortunately, most Americans are either not aware or purposefully not preparing properly for their retirement years because they can’t afford it. The situation appears to be getting worse each passing year as we have an aging population and will soon be facing a major problem country wide when the peak of baby boomers is done working.
On June 16, 2015, a fifth-story exterior balcony collapsed at a popular apartment building named Library Gardens near the University of California, Berkeley. At the time of the incident, a group of Irish exchange students were gathering on the balcony celebrating a 21st birthday party. Unfortunately, six students perished as a direct result of the collapsed balcony and seven others were severely injured (many of these people were cousins from one family). After an extensive investigation it was determined that the cause of the collapse was defective construction, and defective building materials. The construction method allowed moisture to enter the balcony joists inside the building cavity, causing dry rot and eventually failed structural members.
There is an old saying in the trades that goes something like this, “there is a high price to the low bid.” Unsuspecting homeowners and property managers who hire independent contractors who subsequently get injured on the property could potentially be liable for the injured person. California Labor Code Section 2750.5. Several factors determine the ultimate liability, but I imagine this fact situation will make several of you reading this think twice before you hire your next tree trimmer.
Many of our clients desire tenants that don’t have pets for the obvious perception that pets cause more wear and tear on rental properties, however this is certainly not always the case. Several times every year we encounter prospective tenants with emotional support animals, or people who claim they have emotional support animals. It is both a sensitive and important topic which requires some cursory analysis and something that we cover with our clients during our initial meetings. Believe it or not an emotional support animal is NOT a pet according to the U.S. Department of Housing and Urban Development (HUD) guidelines and the Fair Housing Act (42 U.S.C.A. 3601 et. seq.).
Esquire Property Management Group (ESQPMG) offers Performance Guarantees for our clients and owners. We are unaware of any other Northern California property management firm that offers similar guarantees. The five (5) performance guarantees that ESQPMG offers are; 1) Payment Guarantee, 2) Response Guarantee, 3) Fee Guarantee, 4) Transparency Guarantee, 5) Service Guarantee, 6) Satisfaction Guarantee – for a detailed breakdown of these guarantees go to https://esquirepropertymanagementgroup.com and check them out.
Partnering with Esquire Property Management Group allows owners to have peace of mind knowing their assets and properties are being evaluated on a daily basis for efficiency, appearance, and productivity.
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