One factor helping to drive commercial building starts is the aging of America. As the Baby Boomer generation pushes the age demographic ever upward, more senior housing and nursing care facilities are needed. The result is an increase in construction starts for these two areas over last year, according to the Seniors Housing Construction Trends Report 2011.

According to David Schless, president of the American Seniors Housing Association (ASHA), it is an important but modest amount of new construction. "Until the capital markets change and the economy improves, we expect to see relatively muted levels of construction of market-rate seniors housing."

Senior apartments are responsible for 49 percent of the new units currently under way, of which, only 8 percent fall under the category of market-rate properties. Another 20 percent of the new projects are independent living properties, with assisted living properties accounting for 16 percent and nursing care buildings 15 percent.

Another area of recent activity is commercial building investments in secondary markets across the country. This trend may be led by spiking valuations for office properties in a number of gateway cities.

Canadian firms recently purchased nearly a half million square feet office building space in Bethesda, Maryland and Overland Park, Kansas. In Minnesota, Hempel Properties bought a 393,902 square foot property in Minneapolis, close to their home base in Maple Grove.

In California DIRECTV Inc. recently made the largest leasing deal in years by expanding its corporate headquarters into roughly 630,000 square feet of office space at Kilroy Airport Center, in El Segundo.

Office sales transactions in Columbia, S.C., Asheville, N.C. and Detroit over the last month also added to significant commercial real estate activity in secondary city markets. In Pittsburgh, Highwoods Properties bought the 1.54 million square foot complex of office buildings known as PPG Place.

Investor desires for better returns is likely what's driving large commercial purchases in second tier cities across the country. Properties in the largest markets, such as New York, San Francisco and Washington, D.C. may be burdened with fewer risks; however cap rates in those markets are nearing pre-recession levels.

"There are cities at the top end of the market where the pricing is very robust, but the gains [in valuation] have been more limited in places like Houston," notes Sam Chandan, president and chief economist with Chandan Economics. "These are markets where individual core assets will trade at high valuation, but it's still not comparable to D.C., New York or San Francisco."

Leasing commercial real estate is quite a specialised service and should be sold and pitched for by local real estate agents on that basis.

Have all the facts at hand!

As the local agent you can lease all types of property today, although market knowledge and leasing skill always comes into play. The leasing of property can and should be a specialist service in your agency office; it can involve skilled people and marketing tools relevant to the property type.

The leasing team in a large agency can comprise of a leasing manager, tenant advocacy specialist, lease administrator, property manager, and tenant liaison person. In large retail premises to be leased you will add a marketing manager to the leasing team.

In real estate agency you can have specialist strategies developed on:

• Office property leasing
• Retail free slanders and small premises leasing
• Shopping Centre and Mall leasing
• Industrial leasing
• Warehouse leasing
• Fitout works and controls
• Tenant advocacy services
• Tenant mix strategies and planning
• Renovation and relocation plans for leasing
• Project leasing of new properties and developments

Know Your Leasing Market!

It is in fact very difficult to pitch for and list a property to lease unless you really know the market trends and solutions. That is why many agents specialise in leasing and special segments within it.

Here are some key elements of the presentation to be handled when you are pitching for the leasing listing appointment.

1. Supply and demand for leased premises in the local area will be based on tenant enquiry today. Explain what the supply and demand factors are today and how they are expected to change given the local business and population demographics.

1. The type of tenant target market that will be attracted to and served by the property should be defined (in this way you can design more relevant marketing packages)

1. The best methods of lease given the age of the property and the cash flow requirements of the landlord should be defined. Use a Gantt chart to explain the leasing stages and time line.

1. The types of rent to be used in the promotion of vacant areas will be based on the history of other rents in the local area. Explain the best types of rental (gross or net) for the situation at hand and give sound reasons for this choice.

1. Comparable properties that have an impact on your subject property. They should be located and details of the relative asking rents provided. Explain the differences between those properties and the subject property.

1. The timing of the lease promotion given the seasonal business community will have some relevance to your pitch for the appointment to lease

1. The methods of handling outgoings recovery for the landlord given the tenant enquiry out in the market today should be incorporated into the lease type selected.

1. Definition of landlords works and the timing of such should be quite clear from the outset

1. Lease documentation strategies and implementation programs should be considered (this is highly relevant when many vacancies are being leased in a new development)

1. Explain the methods of marketing the vacant property or tenancies to different targets (primary and secondary level tenants). In properties with multiple vacancies this will become a complex process taking into account the tenancy locations and priorities for specialty or anchor tenants.

1. Inspection strategies to take tenants through the property given its design and function should be explained (give due consideration to other tenants in the mix or customers to the property)

1. The size of the tenancies to be leased and their locations will create different asking rents.

1. The impact of incentives to lease in the current market should be defined and strategies struck.

To win a presentation or pitch to lease a property you need all the facts and the solutions. When you seek to specialise your leasing services this becomes much easier for the agent.

When it comes to managing and leasing commercial office property, the tenancy mix becomes the foundation of the property income and performance. On that basis the tenant retention plan for the property is both desirable and essential.

A tenant retention plan forms the central part of the business plan for the property to be reviewed each year. In a moderate and larger property, the business plan for the property should be undertaken by the property manager each year.

Single tenants vs. Multiple tenants

In a single occupancy commercial office building, the retention of the tenant is relatively straightforward. You are dealing with one tenancy and one lease; you have only one of negotiation to undertake and formalise. The matter simply comes down to the desirability of the tenant given the future of the landlord and the property.

In properties containing multiple tenants, the occupancy factors are more complex and include tenant mix considerations.

What about Anchor tenants in Office Buildings?

If the tenant is an anchor tenant or the critical part of the overall tenancy mix, then special considerations may be required in your tenant retention plan. In the case of an office building, the anchor tenant may be critical to the function of other tenancies. For example you may have a government type tenancy around which the other smaller tenants and the building capture enquiry and customers.

Role of the Property Manager?

As the property manager controlling the property for the landlord, the following ideas could be utilised as part of your tenant retention strategy and any adopted form of negotiation with your sitting tenants:

1. Provide the tenant with a longer term of occupancy in exchange for a new lease to be signed on terms required by the landlord.

1. Seek to obtain a renovation obligation from the tenant for any new or extended lease term. This is of some benefit to the landlord over the longer term.

1. Negotiate make good provisions in the new lease that favour the tenant or the landlord depending on your priorities in tenant retention.

1. Negotiate a new lease with due regard to the potential requirements of expansion or contraction for the tenancy. Any adjacent tenancy expiration could be factored into the new lease occupancy or lease renewal. First rights of refusal could be provided to the tenant for the times when the vacancy occurs adjacent to their current location.

1. Provide the tenant with a further set of lease options that may improve the longer term income ability or cash flow from the property.

1. Adjust the rent review provisions to give the tenant more stability in estimating their future occupancy rental. Some tenants prefer rent reviews that are easy to estimate. They are normally fixed percentage increases, fixed dollar amount, or consumer price index.

1. Provide the tenant with landlord funded improvements in exchange for the new lease occupancy. The cost of the landlord improvements can be amortised into the new lease cash flow.

1. You could potentially give the tenant a lower initial rental to help them enjoy lower occupancy costs currently in any new lease that you negotiate, but then improve the rental for the landlord later through fixed percentage rent review increases for the balance of the lease term.

1. If the tenant is under any rental or occupancy pressure now, the concessions provided by the landlord today should achieve some advantage offset from the tenancy over the longer term. This says that any rental reduction now should achieve some rental increase later with the appropriate levels of interest rate recovery.

Simple factors like these can be incorporated into your tenant and landlord negotiations. They help you make the new lease attractive and relevant to the tenant and the landlord.

If you are in charge of commercial or institutional facilities, you probably already know that there are federal regulations that mandate the amount of water per flush that is allowed for urinals. But what you may not know is that almost two-thirds of the urinals in use today use more water than the standards allow. That accounts for several million units in use wasting water with every flush. While you are unlikely to get a visit from the eco-police, you are wasting a tremendous amount of water and money.

The US government has established that the allowable amount of water per flush should be one gallon for commercial and institutional urinals. Unfortunately, not all operate at this level of performance. This is mainly due to the age of the urinals in operation. Businesses have chosen not to replace older, and much less efficient, models until they have no choice. But by doing so, they are leaving pre-standards urinals in production that can expend as much as 500% more water than the standards allows. This costs money and is bad for the environment.

When businesses take the initiative to replace older fixtures with newer one gallon flush models, they can save a lot of money and water and get the same operating level as before. The key to ensuring that the water savings are realized as expected is to choose a model that has the WaterSense label established by the Environmental Protection Agency. These urinals use a sparse one-half gallon of water per flush which far exceeds the federal standards.

How much can switching to these urinals actually impact water usage in commercial facilities? That depends on the traffic in the building and the actual usage, of course. However, the EPA has assigned an annual savings estimate of about 4,600 gallons per urinal. Multiply that number by the number of urinals in some larger facilities and the savings will make a significant impact on the monthly utility bill. Then if you multiply that number by the estimated number of non-compliant urinals in operation and the total water waste is staggering.

If your company wants to do the socially responsible thing and conform to federal guidelines, it is pretty easy to do. Any urinal that has received a WaterSense rating will deliver on the water savings promised and allow you to save money while having the satisfaction of knowing that your company is helping conserve our planet's most precious resource. Yes, it will cost money to purchase and install these new urinals, but they will pay for themselves over time.

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One of the biggest problems in commercial and retail property management is to find the time to do all the tasks that come at you each and every day. A typical day for a property manager will include major issues in each of these following categories:

• Lease management including rent reviews, options, vacancy management, and new lease negotiations.
• Tenant communications on current matters relating to occupancy including compliance to lease documentation, maintenance, tenancy mix, and building operational issues.
• Reporting to the landlord on up to date matters of financial performance, maintenance activity, contractor issues, vacancy management, and budget performance.
• Managing the finances of the property including the payment of invoices, remittances of income to the landlord, and the payment of statutory accounts.
• Compliance with risk management, heritage, environmental, and essential services legislation that can have an impact on the property in its daily function.
• Response to unexpected events and crisis matters
• Monitoring local issues and communications into and out of the local business community that can have an impact on the property or the landlord.

Each of these issues has the potential to derail your well planned day. That being the case you should always be flexible for the unplanned event of high priority.

Planning is the Key

Many property managers leave the industry simply because they cannot control the workload and produce the quality results required on a consistent ongoing basis. Such severe action is not necessary and simple changes to the work patterns and mindset of the property manager is all that is required to get back on track. Here are some ideas to help:

1. Every working day should be built around a simple plan that allows you to do the most important issues first thing in the morning in the office. This time should generally be between 7.00 and 10.00 AM each day. Avoiding Email and mobile telephone calls during this time will allow you to get to the big issues requiring momentum and decision. There is a discipline here to be implemented.

1. Between 10.00 AM and 12.00 PM is the best time to get on top of emails and incoming telephone calls. Emails and telephone calls will create problems and issues that have not been considered in your well planned day. Only the highest priority problem or issue should be handled immediately. Everything else can be prioritised for action at a later time.

1. The time between 1.00 PM and 6.00 PM should be reserved for activities away from the office and includes meetings with landlords, tenants, and contractors.

Simplicity is the key to the above process and this time management plan. Yes there will be days where this plan will not be achievable due to some unplanned event, however 70% of the time you should be able to stick to this plan.

This basic time management plan will give you a way through the great workload normally associated with commercial and retail property management activity. A controlled property manager works more efficiently and accurately for the landlords and tenants they represent.

When you work in commercial real estate sales or leasing, your listings and commissions are the keys to success as a salesperson. You need plenty of both. Your listings can be your cash cow if you set the right rules and implement them.

To make the most of your time in the real estate business you want your listings to convert to closed contracts and leases as effectively as possible. Here are some ideas to help you do that:

1. Dominate your territory on a location by location basis. For this means that street by street you should penetrate the market with your property signage and property promotions. Street by street marketing is far more effective in territory domination; over a period of time you can be seen as the property specialist over a larger area.

1. Every property enquiry that comes to you should be qualified given the property type and the attributes of the local area. One key question to add to the process in all conversations is that of the property referral, or the person's awareness of property needs with the other people that they know. The simple question will open many doors of future listing opportunity.

1. Get to know the local businesses within each area or precinct, and the proprietors of those businesses. They will have property needs from time to time and on that basis you should be well known to them. The way to achieve this is through constant ongoing contact with relevant property and territory information.

1. Every property that has been successfully sold or leased by your office should be subjected to a successful letter campaign through the adjacent and nearby businesses. This type of letter is more inclined to reach the right people and decision makers related to property locally.

1. Every property that is released for sale or lease in the local area should be directly promoted to the local businesses and property owners. The best way to do this is via direct telephone calls, property flyers, and direct letters.

1. When a particular property is put on the market and the signboard is placed on the property, take a few hours to walk around the area and meet with the property owners and business proprietors immediately surrounding the listing. This becomes a source of local property market intelligence.

1. Given the high value process in item five above, you can adopt the same strategy with the listings of other agents in your area. It is remarkable how other agents do not canvass the local area comprehensively around their own listings. You can use their signage as the opportunity to find nearby listings and compete with their activity.

1. The most successful real estate agents and salespeople develop a high profile for the office and themselves through well-structured quality marketing campaigns. Local property owners and business proprietors observe the quality of the marketing that you adopt on all your listings, and are therefore more likely to return to you when they have a property need in the future.

All of these factors are aligned to the listing opportunity in your local area. They are stages and points of focus that produce momentum and future leads; they can make your listing process a 'cash cow'.

The best way to tap into this 'cash cow' market intelligence is through the use of a comprehensive database that is exclusively yours and totally up to date.

Wondering how to get a great start in the sales of commercial real estate? There is a vast market in commercial property regardless of where you are, and if you are keen on the right strategies of the market, you could easily find a very prosperous career in the industry. Use these tips to find good advice for getting a great start in a fruitful venture.

• Do not try to bribe your real estate agent into scheduling more showings for you. Not only is this totally unethical and offensive to any reputable agent, but there is still no guarantee that your property will sell any faster even though it was shown to buyers a lot more.

• To ensure your commercial real estate property is successful, understand the market where your property is located and select tenants which suit the area's demographics. For example, a toy store or baby furniture store are better suited to a suburban neighborhood with young families.

• You need to create some kind of plan of action. You need to set parameters, which are a top priority in a commercial property deals. You need to decide how much you can pay first. You also need you know what you should expect to make on a deal. Learn the number of tenants on board and how many pay the rent. Also, be aware of how much space needs to be filled.

• Learn the new formulas that run commercial real estate. Just like how you use formulas such as the 75% rule when buying houses, commercial property will have new and different formulas to get used to, like Net Operating Income and Cap Rates. Make sure you're familiar with them in order to make a good deal.

• When looking to buy a piece of commercial property you may want to look at areas that are not local to you. There are commercial properties that are for sale everywhere. Some are more reasonably priced than others are. You could start making a profit off of a piece of commercial real estate a lot quicker if you put less of an initial investment down.

If you want to know much more than you do about selling commercial real estate so it could be a profitable career for your future, you can start with the advice in this article. Tap into a great market and learn the selling strategies that top sellers are using for success today.

If you are a commercial real estate investor, location is a major factor in identifying the correct property to purchase. A solid location attracts high volume tenants which brings the shoppers you want to your site. This increased traffic gives you the ability as the owner of the property to charge higher rents and thus create a higher value for your property. The rent a tenant can pay is a factor of the amount or volume of business that they can do at a particular location. The more volume of business they do, the more rent they can afford and pay.

The things you look for in a good location are:

Easy Ingress and Egress

It needs to be easy to get into and out of the property via several entryways and exits.

Parking

There needs to be plenty of parking spaces as well as the spaces should be convenient for the customers. A parking ratio of 4 to 5 spaces per 1,000 square feet of leasable area is a good ratio. Having spaces right at the storefronts is always a plus.

Proximity to Major Streets and Freeways

The site should be close to major streets and freeways to make the property easy to find for customers so that they can shop on their way home from work or outings. The property should be on or close to a busy street with a high traffic volume. High traffic volume is very important to tenants. Check the ADT (average daily traffic) or the CPD (cars per day) information.

Near Other Properties with Anchor Tenants

Tenants located near to an anchor tenant benefit from their traffic. Anchor tenants are major retailers such as Major Discount Stores, Electronic Stores, Home Improvement Stores, Grocery Stores and Drug Stores.

Signalized Intersection

Being at a signalized intersection is extremely important. When cars have to slow down or stop at a traffic light, they have the time to see the stores in the shopping center.

Area

Review the demographics of an area to make sure there is population growth and it is not in an area of declining growth. You want your property to be in the path of growth. Demographics can also tell you things such as racial makeup, number of households, household incomes and the daytime population of the area.

Appearance

Properties that are properly maintained with good landscaping, clean parking areas and storefronts, proper lighting so that the customer feels secure and buildings that are maintained in good condition always attract the most customers for your tenants.

Signage

A professional signage program that is followed always enhances a property and a large monument sign in the front of the center makes it easier for customers to know who is located in the property.

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Undertaking frequent shopping centre surveys will help you as the property manager maintain the tenant mix and strategy in the retail property. The shopping centre survey should be an annual event that is incorporated into the business plan for the retail property.

Identify Change Factors

The survey process will help you identify weaknesses in the tenancy mix whether they are missing tenant categories, underperforming tenants, lack of product offering, use of the common area within the property, and customer traffic patterns within the property layout.

Strengths of the property will also be found from the survey; you can then optimise their impact on the operations of the property.

Care should be exercised in understanding when the surveys should be undertaken. You can skew the survey results simply by not allowing for the following:

• Understand the days of the week that produce the different type of shopper to the property. That can be younger families, older pensioners, tourists, white collar and blue collar shoppers, and local workers to.

• Understand the times of day where the type of shopper will change. This can be due to the lunchtime trade, the opening of banks, the days where pensions and social security are issued, and the times where the public transport will be accessed for commuters.

• Identify where the customers enter the property and in what ratio on a door by door basis. Doorways that are adjacent to the public transport facility on your property perimeter are likely to bring a specific type of customer to the property. On that basis the survey process should occur adjacent to the different doorways at different times of day.

• The people to undertake the survey should be experienced in the process. If they cannot relate to and connect with the customer or shopper, it is likely that they will get poor survey results.

• Speak with the tenants within the property before the surveys are commenced. The tenants will know more about your customers than you do as the property manager. They can also assist you with the correct question profile for the different types of shoppers. If your shopping centre has a Tenants Marketing Committee, they should be involved in the creation of the questionnaire.

• Understand the impact and timing of the seasonal shopping process associated with Christmas, Easter, and other seasonal events. Your local community will have an annual cycle of community involvement and activity. It is wise to differentiate between these peaks in the seasonal cycle versus the other ordinary times of the year.

• The shopping centre survey should be reasonably simple so that it can be completed in a short period of time. The average shopper will not cooperate with the survey if it is too lengthy.

• The design of the shopping centre may create specific type of shopping customer patterns. Undertaking surveys in particular areas such as ladies fashion, in the food court, or on the mezzanine level where the cinemas are possibly located can very well give you different survey results.

It is possible that your survey should also incorporate further matters relating to your locality, community, and the property design. Importantly the landlord should approve the survey format and process prior to its implementation.

Frequency is the key

If the survey can be conducted more frequently through the year, it will produce further statistics and results to allow you to optimise the tenant mix and hence the potential sales for the tenants within the premises.

A successful retail property is a dynamic balance between customers, tenants, the landlord, and the property manager. All parties to this process are partners in the success of the property. Your shopping centre survey will help you achieve this balance.

In this market it commonly takes time to sell or lease a commercial property. If all the listing facts of the property are not handled well by the original agent, it is quite likely that the listing will expire and come back on the market.

Unfortunately the first time that the property was on the market may have saturated the enquiry and now the listing is stale. To refresh a listing takes time and strategy. Simply changing agent will not normally reactivate enquiry and sell the property quickly.

Listings expire for these reasons:

• The vendor had unrealistic expectations
• The listing agent overpriced the property
• The listing agency did not deliver on service, marketing, and negotiation
• The right method of sale was not chosen to market the property
• The right market feedback and comparable pricing information was not given to the client in the first place

These facts raise some key questions that the listing agent should have dealt with.

1. If the vendor had unrealistic expectations in selling their property then the agent should have provided market information of other sales, prices, and time on market, buyer expectations, and recommended methods of sale. There is no point in listing a property if the client is just too far away from the market; you will be wasting your time.

1. Some agents will incorrectly price a property. This can be due to lack of local knowledge and experience; it can also be by deliberate choice in capturing the listing. If you do not know much about the property or the area in which the listing is located, then find a colleague who can help you. It is not an option to overprice anything; you lose the trust of the client. If you deliberately list the property at the higher price that the client requires then you are gambling with their flexibility and future cooperation. If they do not adjust their price, you will be wasting your time and the market will see you as the agent that failed.

1. Servicing a listing is an important issue. Some clients expect that all listings receive your total dedicated service; the reality is that only exclusive listings should get that focus. Open listings may be on the books in your agency but they do not get your full focus and time; they should only get random attention. If the client wants to open list their property with you, make sure they understand the difference in service that they will get. Any client that is really serious about selling should give you an exclusive agency for a period of time (90 to 120 days is standard). Add to that the normal vendor paid advertising and you have a good listing.

1. The method of sale that is selected in listing and marketing the property should be based on the trends and expectations of buyers in the area. There is no point in listing a property for auction if the market will not respond to that method of sale. You always have some alternatives such as listing at a price, sale by tender, sale by expressions of interest, or sale by negotiation. Make the right choice.

1. When listing a property for sale it is critical to know the local prices and the other properties that are nearby that compete with your listing. Completed sales will also have some benchmarks that should be considered in your listing processes.

Take care with all of these issues. A well listed and marketed property will usually sell. It's up to you as the specialist agent to make it happen.

If you pick up an expired listing from another agent, then you will find that the listing is easier to service than those that are first on the market. The sellers are motivated for a price change and are receptive to your recommendations; they simply do not want to waste any more time.

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When you are making a purchase bid for a large complex, you are often bidding against financial institutions with deep pockets. This creates two distinct disadvantages for you as a beginning investor.

First, most beginner commercial investors are forced to join a large consortium of other investors to get in on a multi-million dollar deal. This dilutes your ownership interest and the weight your opinion counts when issues arise such as when to sell.

Second, when you and your investors are bidding with the last dollars that you have to invest, the large institution can easily out bid you by several thousand more than you can raise. Going up against large institutional investors can be overwhelming.

There are many other reasons to invest in complexes with less than 125 units:

• There is less upkeep and maintenance. You may be able to avoid the added expense of an on-site manager and full-time maintenance crew.

• There are more medium-size complexes available at any given moment. That means less competition from other investors and more opportunity to find one with exceptional cash flow.

• Cash on cash returns for medium complexes are frequently better than for large complexes as you are able to offer a wide variety of amenities and services.

• You will not be dealing with a financial institution as the seller with a cumbersome sale policy. The seller will more likely be an individual or small partnership that can provide flexible sales terms if they choose.

• They typically will require less equity to acquire. This means you can control the property as an individual or with a couple of partners. You thus own a higher percentage of the property and thus a bigger amount of the profits.

• Often the less knowledgeable seller has avoided raising rents because they have become friendly with the tenants or they are afraid the vacancy rate will increase. By studying the local market rents and vacancy rates, you could find that you can immediately increase cash flow through rent increases.

There are some very good arguments to owning small apartment complexes in the 4 to 12 unit range. This can be a good start if you personally manage them and perform most of the maintenance. However, this size complex seldom generates enough income to leave a profit when a property management company is hired.

Investing in real estate for beginners can begin with small complexes and once the income is stabilized buy another. After a couple of years, they have 3 or 4 small complexes located all over the city. This becomes a problem because now they have the equivalent number of units as a medium-sized complex but are still managing them themselves. They also have the added burden of having properties at multiple locations meaning they have to drive all over town to take care of maintenance and upkeep.

Medium-sized apartment complexes have long been the favored type of and classic value for commercial investing. Now is the ideal time to make this investment move. Vacancies are down and rents are up. Income can be very predictable.

Do the math and you will see that very small apartment buildings are more risky than medium but medium size complexes have advantages over the large complexes that we've already discussed.

If you own a small eight-unit complex, each unit represents 12.5% of the income stream. If you own a 80 unit complex, each unit represents 1.25% of the income stream. Still, an 80-unit complex is much easier to manage than a 175-unit complex.

Buying or leasing commercial office space is one of the biggest decisions a business owner or professional can make. The location, ease of access and appearance of your office will have a dramatic impact on your business for years and even decades to come. Yea, we all know and love the saying the three most important things in real estate are location, location, location. But what I want to do is challenge you to think about location a little differently.

The metaphor I want you to use is hockey, not golf. Let me explain. In golf, one of the most important yet often overlooked parts of the game, especially for amateurs, is being able to find your ball. If you can't find your ball, the penalty is stroke and distance, in essence a two-stroke penalty. Ouch! You don't win many of your bets with your playing partners if you lose a lot of balls. Knowing the location of your golf ball is very important indeed.

The real estate equivalent in golf is to know what location or locations are hot today. It is great to know what location is perceived to be the most prestigious, the easiest to access, or the best know. I encourage you to take a close look at these factors when evaluating a potential location for your business. But there is another way to look at location, and for this method, hockey is the better metaphor.

In hockey, Wayne Gretzky's father Walter is credited with the immortal advice, "Skate to where the puck is going to be, not where it has been." Because if you start to skate to the puck, by the time you arrive at its original location, it we be somewhere else. Relying sole on where something is right now is a dangerous way to analyze a situation, even for very short-term decisions like where to skate in hockey. In dealing with long-term decisions, like where to buy commercial real estate, the results can be costly or worse.

What this means in real estate is that you will make much better decisions if you look ahead one, five or even ten years down the road when evaluating a location. If you pay top dollar for a location that is well situated today, but that is near the point where it will slowly become less and less attractive in the future, you will probably regret your decision. Alternatively, if you dismiss a slightly less attractive area today that is in an area that is growing and improving month by month, year by year, you may miss out on real bargains.

So what should you do? I recommend that you evaluate the trends of a location just as much as you evaluate the existing conditions. A location that is on the edge of town today, but right in the middle of the development and growth path may be a much better choice that a location that is just now starting to lose some of its former glory.

Overview

If you are searching for a well-to-do suburb of Chicago which has friendly residents and plenty of commercial business opportunities then look no further than Hinsdale. This attractive village is located 21 miles west of Chicago and offers residents and employees working in the area the best of everything. Aesthetic beauty of the neighborhoods mix with modern conveniences which are features that are sure to please all.

About the Residents

The residents of this village live a good life for the most part. This town has been ranked in the top 1% as the most affluent area in Illinois and the median income and housing costs attest to this fact. During the 2000 census, the population was at 17,349 and the median income was $104,551. The median home value was $520,100.

Things to Do

This village is a cultural center as well as a locale known for its outdoor activities. Those who love the arts will find plenty to do at the Hinsdale Center for the Arts. Residents and employees can also enjoy the ballet and the symphony in town. For those who like to spend time outside, this town has an extensive parks and recreation department where individuals can get outside to bike, hike and walk around the village.

Business Atmosphere

This town is perfect for business entities as it can easily be reached via I-294 and I-55. Public transportation is also available, especially if you travel the Metra this village has three stations including Hinsdale, West Hinsdale and Highlands. The Pace bus lines 663 and 668 also serve individuals going to and from the village. There are office buildings, corporate centers and other commercial properties throughout the town which gives business owners plentiful options when looking for an office to lease there.

Other Businesses

The town offers residents and workers many options due to the vast array of businesses throughout town. You will find cleaning businesses, attorneys, doctors, architects, financial institutions, restaurants, retail shops and so much more throughout the village. No matter where you open up shop here you are bound to have a wide array of business neighbors to fit in well with. Stores such as the UPS Store, Air Fitness, The French Seam, The Gap and more offer goods and services of all kinds to the residents of the village. Small businesses and large corporations alike lease and purchase commercial offices in the village.

Dining and Shopping Options

The mix of upscale boutiques and well-known retail conglomerates complement each other well here. Tigers & Tulips, Alixandra Collections and The Green Goddess Boutique are some popular village retail shops. As for dining options, you can never go wrong with Giuliano's, Egg Harbor Café or Cosi. Whether you need a quick breakfast or lunch or perhaps a fine dining experience for dinner, this vilalge is the place for delicious cuisine.

While you might only have to purchase one or two, the door knobs you place on your business entrances can be the most important ones you choose. Look carefully at all the styles of knob that are available and ask yourself which is the one most correct and appropriate for the message you want your business' entrance to convey. What style is your door in and what is it made of? Would a traditional style of round door knob be better or would a handle fit the feel of your door better? Do you need the door to lock or will you need a locking mechanism on another part of your door? It might seem like a simple no-brainer choice to just pick a knob and go, but if you ask yourself questions like this when choosing a design, then the entrance itself will have a greater impact on anyone coming to your business.

After choosing your entrance knob, the next obvious step is to decide on an indoor knob. Door knobs for indoors are often easier to decide on once you've picked out an entrance knob. All you have to do is look at the style you've chosen and pick one that follows suit with it. Whether you use an industrial style metal handle for office doors, or elegant crystal door knobs for a home or rural business, there are a multitude of choices for you to pick from to complete your set of door knobs. Regardless of the type of knob you decide to use, putting careful thought into which one you choose can leave customers or clients with a memorable impression of your place of business.

When searching for the right office space for your business, you may be deciding whether it is best to lease or sublease your commercial space. While there are pros and cons to both, the right choice ultimately depends on your unique business needs. There are many variables that should be factored into this decision, and having all of the facts at your disposal will help you to make an informed choice.

Consider the Long Term Viability of Your Business

The amount of time you expect to stay in your current location has a bearing on whether you should take on a commercial lease or sublease your space. For a commercial business such as a retail store, salon, fitness center or bakery, it may be advantageous to secure your space with long-term commercial lease as the primary lessor. This will allow you to lock in your rate over a longer period of time and enjoy greater profits when your sales increase.

If, however, you are likely to move within five to ten years, are a seasonal business or anticipate needing a larger space in the future, subleasing may be right for your business. In addition, if you are opening a new company, you may consider subleasing to test the market for your product or service without locking yourself into long term contracts. Seasonal businesses may find that subleasing space from a larger, more established business is more cost effective.

Subleasing Office Space vs. Leasing

Some of the main businesses that take advantage of subleased space are businesses that need office space. These businesses often sublease a portion of a larger office, taking advantage of reduced rent and utilities, shared facilities and access to technology. Subleasing office space also means that you will have the flexibility to move without penalty if your current space is not working for your business. With subleased office space, there are no long-term contracts, lower commercial rent rates and increased flexibility.

Older more established businesses may find leasing office space more suitable than subleasing for a number of reasons. If your company has been in business for years, you may want the stability of being recognized at a certain location over time, which adds to your credibility. You may want to appear stable, consistent and stronger than your more temporary counterparts. In addition, you may be able to take advantage of better deals on longer leases and lock in low rates, even if the value of your leased property rises.

Like any other business deal, the decision to lease or sublease must be made with careful consideration. Factor in the pros and cons of either leasing or subleasing and consider your company's long-term needs when choosing what option is best for your business.

When it comes to your career in commercial and retail real estate you will have to cold call prospect if you want reasonable levels of success in sales and leasing. The telephone is (or should be) your friend when it comes to business generation. It will help you with prospects and listings.

So why is it that so many salespeople do not make the calls on a daily basis? These are the ten most common reasons:

1. Lack of planning the call times into their diary
2. Not knowing who to call each day
3. Not creating a database to support the call process.
4. Not knowing why they are calling
5. Not knowing what to say when they make the call
6. A poor call follow-up system
7. Call reluctance and avoidance
8. Not enough time
9. Not enough practice in the process
10. Want to do something else

It is a fact that the best people in the industry have two distinct skills or advantages over everyone else. They make the prospecting calls every day, and they have a database that they personally maintain with records of calls and contacts.

If you want to really create opportunity in your career in the property industry, then a call prospecting program is the only way to go. Nothing can replace it as a high level business generation tool.

Here are some tips to take charge of your real estate prospecting processes using the telephone.

• Determine the exact territory you want business from
• Understand the ideal property type that you should be listing
• Get details of all properties in your area and the sales results over the last 2 years
• Drive around your territory each day on a street by street basis so you can see the local issues and changes that may impact on your prospecting
• Make a list of all businesses locally that occupy premises either as a tenant or as an owner occupier
• Set aside 2 or 3 hours a day to make the calls
• Set some targets for the calls that you make. They should be:
  • Number of calls out - 50 is a good number
  • Number of connections to prospects each day - 20 is achievable
  • Number of appointments made - 2 or 3 per day should be your target
  • Number of listings achieved each week.

Prospecting and cold calling gets easier when you start the process and commit to the calls. Every 100 calls should produce some reasonable opportunity now or in the future. This is a personal discipline that you cannot delegate. Success awaits those that take up and beat the challenge.

Of course, a great deal of caution has to be built into this kind of forecast, which may be based on emotions as much as hard facts about the bottom line, vacancy rates, and other factors. Southern California was hit particularly hard by the 2008 collapse of the United States housing market. Despite recent good economic news, both nationally and in the state, unemployment still hovers at around 11 percent and many of the area's exurban regions, especially Riverside county, are pockmarked with neighborhoods that still bear no small resemblance to ghost towns. Locals may be only to quick grasp on to any shred of good news for dear life.

That being said, Southern California benefits from having a number of prominent local industries that have help up in reasonable fashion since the upheavals of 2008. Entertainment and media have, to be sure, taken a few hits in the Internet age, with music being particularly hard hit. At the same time, movies, television, gaming, and an assortment of ancillary fields continue to move forward despite no small amount of stress as digitalization and the rise of home entertainment continues apace.

There's also no small amount of spill over from Northern California's Silicon Valley, as tech remains powerful in So Cal. Also, more traditional industries -- the kind that require those hard hats and welding helmets we mentioned  -- continue to thrive in places like the enormous and bustling port of Los Angeles/Long Beach.

All of that really does seem to translate into fewer vacancies in California's commercial real estate market. That's likely good news for the entire nation.

Window flower box contain living flower inside it. You need to make sure that the plants grow well inside the box. You need to make sure it has enough water and enough soil. You must water the plant every day and if you want to save time and energy, you had better choose pvc window boxes with self-watering system. Then you must check soil level regularly every one or two week. You need to add more soil if you found it lack of soil. The plant needs nutrition so you need fertilizer to make it grow healthy. Each plant need different fertilizer so you had better ask the right fertilizer for the plant when you buy it. Follow the instruction in the fertilizer package. The plant may grow higher than your window and block the view. It may also grow to the side and look mess up. Cutting and trimming is needed to make sure the plant look in good shape to fit the box as well as the window. Don’t forget the possibility of plant disease. You need to check the plant condition carefully. If you found caterpillar or bugs, you had better get rid them out from the plant. If you found black or white spot, it may be plant disease. You can browse in the internet to found what it is and find the cure or immediately call expert help.

For the window boxes installed on the wall, you need to make sure that it is securely bolted. Check it condition and if you find it loose, you need to call the expert to fix the problem before it fall. If the color faded, you need repainting. You may also need repainting for the flower box if you change your wall or window color. If you use bracket to the window box, you also need to make sure it is securely installed on the wall and the box. Although bracket is purely aesthetic, but if it loose it will easily fall and look bad.

Window box maintenance must be performed regularly to keep the flower box look good. You need to spare your time or ask expert to help you.

Overview

As a suburb of Chicago, it is no wonder that living and working in Crystal Lake is ideal. Those who do so find that the convenience of the area and the suburban feel present a multitude of opportunities for them. Commercial office space leases are readily available to business owners, whether they own small companies or large corporations. This village is located halfway between Chicago and Rockford which allows residents and business employees easy access to both cities. The village has a small town feel but all the modern conveniences one could hope for in a suburb.

About the Residents

The current population here is hovering around 41,000 individuals. Almost 50% of the households within the city had children living within them. 64% of the households contained married couples living there. The median family income was $84,935 according to an estimate taken in 2007. Many residents work in the area while others choose to make the short commute to Rockford or Chicago for work.

Things to Do

With a name like Crystal Lake one can imagine that there are plenty of water activities to keep one busy in the city. Those who live in the village can take advantage of boating, fishing, swimming and more on the water body which shares the same name as the locale. Those who enjoy the arts will love the Raue Center for the Arts, which has just undergone grand renovations. If historical spots are more to your liking, the Dole Mansion and Colonel Palmer House are worth the visit. In addition, there are plenty of festivals held in here throughout the year for the whole family to enjoy.

Business Atmosphere

This town offers many wonderful business opportunities due to its suburban location between two large cities. Business owners and consumers enjoy doing business in the village as it has many goods and services providers as well as easy access in which to get around town. Situated not too far from I-90, it is easy to reach the town via the interstate and other local roads as well. Public transportation is readily available in the town including taxi service, Metra service and the Pace bus line. Many businesses operate within the village however some of the main ones include retail, dining establishments and light industry. Business owners not only lease office space in the downtown area but also on the outskirts of downtown as well. Strip malls provide options for retail and dining establishments while office buildings and corporate centers offer plentiful office space leasing options.

Other Businesses

One will find both large corporations and small, individually owned companies within the village. Some of the businesses you will come across in Crystal Lake include accountants, automotive shops, florists, attorneys, medical offices, financial services, insurance agencies, photographers and so much more. This is in addition to the vast array of retail stores and restaurants placed perfectly throughout town.

Dining and Shopping Options

Whether you live or work here, mealtime will always be something spectacular. If you are in the mood for a quick bit to eat, then a trip to Jimmy John's or Portillo's Hot Dogs will be sure to please. If a more luxurious dining experience is what you crave, then why not try the 1776 Restaurant with their wide and varied menu. Those who are eager to go shopping will have their choice of small boutiques or large retail chains in this village.

Many borrowers are surprised to learn that life companies are one of the most traditional sources of commercial mortgage financing in the business and have been for decades. Historically they focused on trophy type project ie with minimum loan amounts above $10,000,000 up to a billion or more. Due to the credit crisis many life insurance lenders have lowered their minimum loan amounts to a $1,000,000 and a few to as low as $500,000.

But what are the positives and negative of this type of financing? That's what this article is about.
One of the best features of this type of financing is long term fixed rates. 5, 10, and 15 year fixed rates are available. As of this writing rates are competitive compared to conventional bank loans, ranging from 5% - to 6% (The longer the fixed period the higher the rate) often only 30 basis points higher than bank financing.

Also, because life companies are not banks they do not they do not have the same underwriting standards and typical limitations that banks do. This is not to suggest that they are not conservative, which they are. For example most of them are capped at 65% loan to value and 1.3 to 1.35 debt coverage ratios and only like general use properties such as retail, office or industrial. But still they can and will do things that banks cannot. Such as "cash out refinances", which is currently nonexistent with banks in this market.

Another benefit includes that they do mostly investment properties loans which is still difficult to get done with most banks. The underwriting process is also simplified as life companies normally lend their own money and hold onto and service loans over their life, rather than pooling them and selling them on Wall Street. So for the borrower this means that they don't have to perfectly fit into a restrictive "Box".

There are negatives though with working with Life Companies. And they are considerable. Expensive pre payment penalties, higher loan fees and large upfront deposits top the list.

As far as pre payments penalties are concerned the longer the fixed period the higher the pre pay. And they are structured as a yield maintenance type pre pays. Which can be exceedingly expensive.

The loan fees with life companies are normally 2 or 3 time higher than with banks. Expect a minimum of 2% and most likely 3%. Part of the reason here is that borrowers are not allowed to work directly with the lenders but have to go through a correspondent and both parties normally charge at least 1%.

As far as up front deposits, unlike banks that normally require just 3rd party fees, such as appraisal, to be covered at the execution of a term sheet, life companies require borrowers to pay 1% at execution of the term sheet, plus third party fees and one more 1% after the lender issues a commitment letter. So on a $2,000,000 loan amount the borrower will likely have paid out $55,000 out of pocket to secure the loan.

This is before funding occurs. Life companies often put in writing the deposits are refundable if the loan is declined but many borrowers find it very difficult to write these checks.

Bank financing for investment properties less than $4,000,000 remains the better alternative - lower fees, less money at risk, lower pre pays, and lower rates are the reasons. We continue to close investment property loans as well as owner occupied and invite you to contact us for your purchase or refinance transaction.

You should feel fear with fire. Because, when there is fire in your home and you cannot control it, the fire can burn anything in your house and you will lose all things in your home. If the fire is huge and uncontrollable, you cannot do anything. Based on the fact, you must protect your home before bad things happen in your home. What you can do then? Well, you can protect your home with two ways. First you can protect your home with home insurance. There will be lots of insurance companies that offer you home insurance services. By protecting the house with the insurance, at least you can get some compensation when the unwanted things occur. They give you money when your home is in bad condition because of fire, disaster and other things. You can apply via online for your home insurance. Second, you must have fire protection in your home. You can buy fire alarm systems Toronto. The fire alarm system is a useful device that can detect the fire. The alarm will sound when the thermal sensor detect the heat from your house. The sound of the alarm can be the initial warning so that you can do the action to fight the fire before it is too late.

Where you can buy this alarm? Nowadays it becomes easier to buy the fire alarm because you can buy it via online besides buy it at the land based shops that offer the device. You can buy via online at Tophamfire.com. It is a reliable place where you can get the Fire Extinguishers Toronto. The place is reputable so that they only provide the high quality items.  The fire alarm can reduce you bad risk when your home is in big fire. You can use it fast. You can buy more than one and install in your home. The last one is Fire sprinkler systems Toronto. You can find all things in one place only. They guarantee you to get best fire protection. Check the site for more detailed information about the products.