From the monthly archives: August 2014

We are pleased to present below all posts archived in 'August 2014'. If you still can't find what you are looking for, try using the search box.

8/12/2014 6:00 PM

Questions You Need to Ask Before Buying Distressed Commercial Properties

The economic downturn that began in late 2007 has taken a severe toll on all sectors of the U.S. economy, but it hit the real estate sector especially hard. Real estate research company Green Street Advisors reported in March 2011 that commercial property values were 17 percent below their peak in August 2007. CoStar Group reported that the values of the highest quality office buildings, relatively new retail and industrial properties, and apartment complexes were down 33 percent since June 2007. These large price decreases may attract investors in search of good buying opportunities. However, potential buyers should look beyond the low purchase price when they evaluate these properties. The properties' physical state, legal issues, and insurance considerations also affect whether they are smart investments. Many of these properties were only partially completed when the financial crisis hit, so buyers must assess their economic viability and physical condition. They need to ask: * How much ...

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8/6/2014 4:00 AM

Don't Wait until a Fire Ignites on Your Construction Site to Start Fighting Fire

The wildfires experienced by Californians over the recent years are just one of the many examples we see when it comes to just how threatening and damaging fire can be. Since job site fires pose a constant threat to construction projects, contractors should prepare for a potential fire by periodically confirming that their risk management plans adequately address the issue. Don't wait until you actually have a fire on-site to start your fight against fire. The following tips have been recommended by the International Marine Underwriters Association to help keep construction sites free from the threat of fire: 1. No smoking - have and enforce a no smoking policy on the construction site. 2. Loss control plan - the written loss control plan should comprehensively address the risks of fire exposure and include specific objectives to be enforced by management on the job site, general safety measures, and a named person to be in charge of on-site safety coordination. 3. Inspections and lo ...

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8/5/2014 3:11 AM

The Laundromat Lease Trap

Does reading make you smarter? If you agree-as I do- that reading makes you smarter, I have a gift for you. It's not an "instant fix". Rather it's a serious look at one of the most overlooked and potentially dangerous areas that, if not addressed, could have be devastating to your Laundromat. A vast majority of the Laundromats we represent are leased spaces where there is a landlord/tenant relationship and believe it or not, your lease can have a dramatic effect on what is and what is not covered on your Laundromat Insurance policy. A poorly written lease can unintentionally put you, the Laundromat owner, on the hook for things that no insurance can cover! As I said, it's not an instant fix. The White paper is 6 pages that details the 3 Main Things to look for in your lease that will negatively impact your insurance protection. I believe it will cause you to think deeply about your lease and landlord/tenant relationship. Click below to download the report http://w ...

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