Archive → July, 2010
July 3rd, 2010
Miami Rental Property Landlords – New Woes, Newer Solutions
While properties in the real estate market are certainly becoming affordable, buying investments nowadays carries plenty of new troubles. Before you decide to become a landlord of a Miami rental property, you should first realize that this serious undertaking can be risky. Yet with all the new problems associated with renting and leasing, there are several newer solutions to patch them up.
Increased vacancy
One of the reasons why many are investing in Miami rental property is the increased numbers of people losing their home to foreclosure. It’s only natural to assume that these people, after being turned out of their houses due to default payments, will be aiming for leasing as the next best thing. Unfortunately, the increasing number of potential renters is comparable to the soaring vacancy rates.
Landlords, nowadays, are having a hard time filling up their Miami rental properties. This may sound like a bad joke, but this paradoxical real estate situation is plaguing the country. Instead of renting, these people bunk with relatives or parents and only a few are looking for rentals. Savvy landlords, however, choose to offer incentives to prospects instead of losing more with the maintenance of an empty building.
Longer evictions
The prevalence of rental foreclosures and decrease in employment rate greatly contribute to growing evictions. And because evictions are becoming more and more rampant, Miami’s courts, or anywhere in the country for that matter, find it difficult to complete the process. The amount of time to finish the legal paperwork significantly stretches to maddening length for landlords who are left with tenants they cannot evict yet.
This prompts landlords to work and help tenants in dire straits. It’s become typical for landlords to aid tenants move out of the building by offering payments. This is a small amount to pay for the cost of letting them stay longer without paying.
Pet-friendly buildings
Many tenants are increasingly turning into pet-owners. In the past, any landlord can easily turn away a pet-owner with good rental history and good credit and overall financial health. Nowadays, however, it’s not practical to shun these types of renter. Again, the situation is caused by the rising vacancy rate.
Turning your Miami rental property into a pet-friendly environment can help it survive. Even those with stringent rules for pets are highly sought by several renters. The cost of damage, noise and flea infestations is a small price to pay compared, yet again, to the cost of maintaining several empty units.
Mark Michael Ferrer
Miami Rental Property
By admin • Posted in Leasing Renting • No Comment
July 2nd, 2010
Gurgaon Property Market
Gurgaon, a bubbling city of Haryana, has undergone significant developments in the past couple of years and is sprawling as a mega city. The city boasts of not only good quality infrastructure but also splendid real estate. Gurgaon property market has allured many big real estate players and many people have happily invested in the city. The city has a very vibrant lifestyle and high standard of living and because of its prime location and good connectivity to Delhi-NCR region, it has attracted people from all over the India. Another factor that has augmented the growth of real estate in Gurgaon is that it has housed many MNCs because of which many people are busy looking for an accommodation here.
Both residential and commercial property in Gurgaon is booming. The city has come up with many new shopping malls and retail showrooms. According to a realty report, the price per square feet for a commercial property was Rs.4400 but if we look at the current market scenario the prices have soared and the commercial space at a prime location would now cost around Rs.10, 500 per square feet. There are many commercial centers in Gurgaon like Udyog Vihar, IMT Manesar, InfoCity, Pace City etc, which have made it a significant commercial hub. Many people from all over India are coming to Gurgaon in search of livelihood and better education.
Apart from that, many commercial projects are still in pipeline like iValley at Manesar, Cyber Park at Sector 67, Element 9 at Manesar, which will further contribute to development of the city and its suburbs. The credit for making retail market hotcake in Gurgaon goes to malls like Metropolitan Mall, Mega Mall, DLF City Centre, Ambi Mall, Omaxe wedding Mall etc.
Both the demand and supply of commercial as well as residential properties is in abundance in Gurgaon. Many big realty players have come up with new projects and some builders are planning to launch new projects soon. DLF is planning to come up with mid segment premium new projects like Express Green and Express Towers out of which express towers is supposed to have 2BHK and 3BHK apartments where as Express Green has apartments as well as independent houses. These projects are targeted for middle income group people and have quiet affordable prices.
Other projects by DLF are Park Place and The Belaire, which are luxurious apartments targeted for higher income group people. Other than that, Vatika Group has launched affordable housing project namely ‘Vatika Lifestyle Homes’ located in sector-84. Emaar MGF has come up with Emerald Estates located at sec-65 Gurgaon. It has 2BHK and 3BHK apartments with 2 BHK costing around Rs. 38 lakhs and 3 BHK costing around Rs 48 to Rs.51 lakhs. Woodstock floors in Nirvana country by Unitech has come located at Sector 50, Edge towers by Ramprastha builders and many projects by India Bulls, BPTP, EMAAR group are in pipeline.
By admin • Posted in Real Estate Market • No Comment
July 2nd, 2010
The Opportunities in Construction Jobs Abroad
The Construction Industry operates on a global scale with many opportunities to work abroad. The developed world maintains many types of project, including continuation, decommissioning and environmental work, much of which is implemented by some of the industry’s leading companies, who are diversifying into new markets. Factors such as tourism and the continuing rise in the global population have increased the demand for housing, commercial buildings, high-rise constructions, industrial processing plants and new and improved transport infrastructures.
New markets are arising in countries with unused natural resources. Countries such as South Africa, South America and Russia are providing budding opportunities in this area, whilst countries in the Middle East, such as Saudi Arabia and Dubai are plowing billions of pounds worth of investment into housing, hospitals as well as residential and tourist developments. Other industries are having a positive effect on the construction industry; India has achieved an almost overnight success within its IT sector. As outsourcing and the off-shoring of international business have grown in conjunction with the development of this IT industry so, too, has the demand for commercial, residential and retail constructions. China is also offering substantial opportunities for jobs in construction as its changing infrastructure demands new housing and power developments.
UK qualifications are well-respected worldwide by construction recruitment organizations, offering British workers considerable opportunities to work overseas. Whilst overseas project tend to favour more experienced graduates, many multinational companies will readily take on more-recently qualified graduates into their ranks. Contracts overseas can mean long periods of time away from the UK and, in some cases, working longer hours than UK contracts stipulate. However, in these circumstances, many companies offer employees additional pay allowances and extra money to assist the costs of intermittent flights back to Britain. Many consider this to be a career for single people, as the long periods away from home and the frequent lack of facilities to cope with dependants often take a toll on married couples or those in relationships.
Construction jobs overseas require a variety of employees with a variety of skills, such as site managers, site engineers, plant engineers, electricians, quantity surveyors, structural engineers, store managers, finance personnel, personnel managers, catering staff and procurement managers. Working abroad can also present language and cultural challenges, whilst trying to oversee a large build, but this leaves extra room for graduates to use their qualifications to their best advantage.
Of course, British engineers and specialists are not confined to finding construction jobs overseas; with the advent of the 2012 Olympics in the UK. Since 2006, the Olympic Committee has been sourcing the best candidates for the required builds and competition between companies is fierce for the relevant contracts. As the Games approach, there will be more and more opportunities for qualified candidates to consider making their mark on British soil, as well as taking into account the benefits offered by working overseas. The Olympics are being heralded as a showcase for the talents of UK construction companies, which is hoped to generate further work abroad.
By admin • Posted in Commercial Construction • No Comment