Property Management Companies Debunk 5 “Energy Saving” Myths

In this article property managers and professionals working for property management companies debunk some energy saving myths and let you know what will really save you money on your water and electricity bill.

1. Taking Showers Instead of Baths will Save Water

This is true, in most cases.

However, taking showers can only truly save water if you make use of a water-efficient shower head. If you are operating purely based on the fact that you think showers use less water you could be using up to 50 litres more than baths with a shower. Get a water-efficient shower head or you are literally throwing your money down the drain.
Short showers with a water-efficient shower head is the most money and water saving option available.

2. Making Use of Energy Saving Lightbulbs Will Save You Money

This one is true.

If you follow the instructions of the bulb this should be true of most if not all lightbulbs. Toby Walne sums this up nicely in his article Can switching your light bulbs really save you £100 a year? on the financial website of the year,
Not only will the save loads of energy but a pretty penny too.

3. Leaving Heating on a Low Temperature All Day Will Save Money

In cold countries there is a huge debate on how to save energy while using central heating. Many believe that leaving the temperature at a low heat all day saves energy.
This is dependent on the way you monitor your energy use.
This may be true in certain cases but the only way to truly know if you use a smart metre or thermostat that allows you to closely monitor and understand your energy use. You will also soon learn what a comfortable temperature is to leave the thermostat on at any given time rather than attempting to keep a lower constant as a means of energy (and money) saving. Reducing your temperature by even one degree has the ability to save you money.

The Top Commercial Real Estate Due Diligence Guidelines

Commercial real estate sellers have a duty of disclosing the known defects of the property being sold to potential buyers. The defects may include physical defects, legal defects, and financial defects. However, commercial real estate buyers should never rely solely on the word of the seller to determine whether or not to complete a transaction. It is important to do your own due diligence.

What is Due Diligence?

It refers to the process of verifying all the statements of fact as well as the potential drawbacks of the property you intend to buy. It is not a simple matter and is not cheap too. However, it is still important because failure to do in-depth due diligence on a property can easy bankrupt you. So, never skimp when it comes to this issue.

If you find something wrong with the property during the due diligence, you can either approach the seller for the purpose of renegotiating the contract or cancel the deal completely. If you discover that the seller made an intentional misstatement of the facts pertaining to the property, you can actually sue for reimbursement of the due diligence costs and probably other damages too.

Important Due Diligence Guidelines

Due diligence is extensive and requires experts to do the research for you. Here are the most important commercial real estate due diligence steps to follow:

1.Title Inspection and Survey

Due diligence usually begins with the title inspection and survey because there’s no reason to proceed with the rest of the steps if something is wrong until it is resolved. Once you sign the contract, you should use your title company to run a search on the property for encumbrances and liens and ensure that the title has a clean chain.

The title company will order an abstract report along with a survey on the property. The two documents can help you know whether the property has any liens on it, encumbrances, easements, inaccurate legal description, or whether any errors were made along the chain of transfers of the property. If the title is discovered to have a defect, the seller has to correct it before closing.

  1. Environmental Inspection

The Environmental Inspection report explores the property’s past use and the past use of the surrounding areas searching for any potential onsite or nearby liabilities and problems with the environment. The report costs several thousand dollars and a considerable amount of time to complete and should be done once the status of the title has been determined.

The inspection is done to find out whether the property either poses a threat to its surroundings in any way or contains any hazardous materials. The report might be expensive, but it can be even more expensive to clean up an environmental hazard.

  1. Inspection for Building Code Variations

The most common forms of building code variations include unauthorized construction, substandard plumbing or electrical work, or the use of improper materials during construction. If a violation is discovered, it should be presented to the seller for approval by the City Board of Directors or cured by tearing down or gutting the structure.

  1. Zoning Code Compliance

Each property has a specific use permitted by the city zoning board. The city’s zoning ordinances have to be reviewed to ensure that the use of the property is in compliance with what it is legally zoned for. This is particularly important when you are buying vacant land and have plans to conform it to your preferred use.

  1. Service and Vendor Contracts

Ensure that you review all the vendor and service contracts that may be attached to the property and ensure that you have the right to choose to discontinue the services if you please. The services may include landscaping, maintenance, food supply, and cleaning. It is also important to check whether the equipment is still under warranty and whether the warranty is transferrable.

Obtain a list of all the personal property items including computers, tools, equipment, supplies, furniture, and appliances that will be remaining with the property once the transfer is complete. The items should be itemized and then included in the contract to avoid confusion after closing.

  1. Physical Due Diligence

Physical due diligence is more than a simple walk through of the property with a building inspector. The walk through is just one part of the physical due diligence that should be competed. Here are the rest of the physical due diligence essentials: photos of the property, site plans and specifications, structural inspection, pest inspection, capital improvements, mechanical & electrical inspection, and interior systems inspection.

The physical due diligence inspections are used to determine the future upgrade and maintenance costs of the building. It is important to make a list of any short-term and long-term projects the building will require and factor these into your costs when determining how much to pay for it. If you find something that impacts the building’s value significantly you can either try to approach the seller with the information and try renegotiating or you could simply back out of the deal.

  1. Financial Due Diligence

The financial aspect of due diligence focuses on the property’s financial condition. It is useful for determining whether or not the property is showing a profit and the actions you can take to ensure that it is profitable. It involves scrutinizing tax returns, rent rolls, income and expense statements, lease agreements, utility bills, omitted expenses, and property tax bills.

The financial due diligence is very important when it comes to determining whether the property you intend to buy has a positive cash flow or whether owning it is costing you money each month.

The Bottom Line

The real estate market is rising in many U.S. cities and this is creating a surge in the commercial real estate transactions. The current state of the real estate market makes this the perfect time for investors to explore the financial risks and value of investing in commercial buildings for sale in Cincinnati. However, it is important to avoid rushing headlong into commercial real estate transactions without comprehensive due diligence to avoid being frustrated and losing a lot of your hard-earned money.

Getting Organized

Handy is a company that helps people get their home in order. No matter what you need to get done, Handy will have a professional available to get it off your to-do list. If you are planning a party and need extra help to set everything up or you might have just had a party and need someone to get your home cleaned up afterwards, Handy will always have someone to contact to make sure you are right on track. Although the services are available in bigger cities across North America, Handy provides solutions for everyone on their social media profiles.

Since we have different sections of our house, a good place to start is focusing on the one you feel should be cleaned first. Perhaps the section of the house that is the messiest is the best place to start, the place that is driving you the craziest. Look at the space in your house that is causing the most stress. Just be sure to clean up the room that will help you lead to do more productive things on the long run.

When someone says they are disorganized, it is more of an umbrella term that can mean different things. Is it because you are not very good with time management or it is the problem stemming from having too much clutter?

The ideal first step is to make a list that is measurable and realistic to get done in a certain time span. Since it is the New Year, most people want to take on things they have been putting off in their lives but are ready to take it on in January. We are more successful in our goals when we break it down instead of having a broad and general aim.

A few examples of the way you can get an objective or a chore done in the house is if you would like to focus on cleaning your bedroom since there are too many clothes around. Think about ways you can get rid of the bulk lying around. A few solutions can be to donate some clothes, buy hangers for the ones you want to keep and also get a over-the-door hook to manage the rest that are too small or bulky to hang.

If you notice you are always running late and missing appointments, it is clear your problem is time management. Some things to do to work on this is to plan out your day the night before and have a digital or a physical planner.

Looking for a Place in Oceanside

It was not really as hard as I expect it would be, aside from the move itself which turned out to be pretty bad because of the weather and the whininess of the guy that I talked into helping me. Of course the real trick was that I managed to find an apartment which had three bedrooms and two roommates. I was looking for a place in a very specific area an Oceanside CA apartments, because I wanted to be close to both my new office and my Mom’s townhouse. (more…)

New Plans Netted Me a Great Apartment

I had to find a two bedroom apartment in Decatur GA pretty fast. I had arranged for housing already, but then the landlord backed out of our agreement. I know that I could have fought it, but I just wanted to find a new place to live in the short time that I had. I almost started looking at rental houses again, figuring that the odds of it happening to me again were too astronomical. However, I would have figured that for the first one too. So, I just played it safe and started looking at apartments.

This is something that actually worked out in my favor. (more…)