Smart Ways to Boost the Value of Your Commercial Property in New Jersey

To make a commercial property investment work for you, it is necessary to
take some measures that would make it a sustainable income generating
asset that is worth holding. How to do this is not beyond your reach with the
Internet flooded with the latest market trends and strategies on how to step
up the revenues you can get from commercial buildings and lands.

Below are some strategies you could employ to augment your property’s worth
before a commercial appraisal or otherwise

Make it Eco-Friendly

The buzz in property circles is all about how green is the project. The more
you do to protect the world we live in, the better is the worthiness of your
premise for a commercial property appraisal.   Harnessing commercial
technologies like solar power, energy-efficient light bulbs, low flow
water-saving plumbing appliances, increased insulation, and the use of
recycled building materials for upgrades and renovations will besides
diminishing environmental impact reduce your overall expense. You will also
gain an advantage by way of accruing tax incentives from investing in green
technologies.

Show up a blank canvas

An intelligent step would be to present the space for sale without any trace of
the pre-existing business. So wipe the slate clear of any equipment and
furniture that pertained to the former business. Give the building a thorough
cleansing including the floors, walls, carpets, and window. This makeover will
show up the premise in all its worth. The potential buyer will now be able to
see the available square footage clearly without the clutter of furniture and
machines. Depending on what the space was initially for and your prospective
buyer’s needs, you can repurpose the premise as an additional office,
conference, storage, or warehouse space

Improve the Property

Beautifying the building and the entire property can add value before a
commercial real estate valuation or while selling the property. The
property could pertain to a shopping mall, office building, residential
apartment and industrial plant. Cleaning up the grounds and building is the
simplest and cheapest way to boost the implied value of the property.
Upgraded windows and doors will slice operational costs and utilities as well
as give off an upgraded and streamlined aesthetic appeal to a purchaser or
tenant. When you give your premise the aesthetic appeal that would please,
you can increase the rent you are currently charging the tenants.

Add Amenities

Adding amenities like a fitness center, high-end conference rooms, bigger
trade halls, an automated coffee bar, and other concierge services, and
complementing these with income-producing roof space for a large gathering,
automated laundry machines, and fully-furnished convention halls is bound
to boost the value of a commercial property.

Improve Structural Integrity

Sellers aiming to do away with an entire property can improve the structure
of the building before selling by carrying out repairs related to the frame of
the building the foundation, and the waterproof membrane or roofing for
leaks. The appraiser conducting a commercial real estate evaluation for this
property will take this up positively in his assessment.

Tenants pay their own utility costs

Using sub-metering devices to determine accurately each of your tenant’s
utility for water usage, electricity, and gas usage in the building or
apartments you can avoid paying any kind of excess. So consider installing
metering devices and start revising your collection process. Add to tenant
bills the utility usage of water, electricity etc.

Revisit Lease Contracts

This is applicable to borrowing money on the property. Instead of setting up a
one-year-only lease, extend it to 5-years or 10-years to maximize your
commercial property’s value. Improve your lease contracts with your existing
tenants, if possible.

The above ways are just smart to hike commercial property value in New
Jersey. Aim to maximize your property’s worth by implementing some of the
ideas.

4 ways to Increase the Value of Your Commercial Property

The value of a commercial property is determined by two crucial factors, one,  its historical data and second, its potential value to get in more revenue for you, drop your expenses and augment your overall equity and value of the asset

The point is, it is possible to raise the value of the bought property by implementing certain changes around it.

Here are 6 ways to enhance the value of commercial property

Better the property

Improve the value of your commercial appraisal by making cosmetic changes to it or substantial rehabilitation changes, and by amenities. Cosmetic applications include painting, new decor to common elements, new flooring, can enhance your property’s value. Substantial rehabilitation changes are bigger and involve transforming the structural facade or renovations to the common lobby of a large office building etc. Amenities can be anything from parking lots to child care. For example, if you do have a parking lot, improve on it by implementing security measures like alarm systems, gates, or security guards to attract new tenants. And if one doesn’t exist add one nearby your property for your tenants. Make your property more appealing and valuable: create a playground in a multifamily property or add free wireless internet for your retail tenants. Or you can include more extravagant amenities like a daycare center in your office building or an outdoor courtyard in a hotel property. Go eco-friendly. It is a high initial investment in the beginning, it is cost-effective later on. Solar panels, tinted windows, energy efficient appliances, and other green improvements. Not only will electric and other utility costs drop, but you will receive appreciative tax breaks from the  state and federal government.  

By bettering the property you increase its value for tenants and for your own portfolio. So when scouting for commercial properties, think about strategies you can employ to make the property more valuable. Know your property’s potential before you close the deal. The best deals are made when you buy a property, not when you sell it.

Raise the Rent

Another way to improve on the value of your commercial property is to increase the rent after checking on historical data of the property to find out if tenants are paying market rent or lower than the average rental rate. If lower than market rate, there is scope for increasing the rate of rent. This can be justified by the improvements made to the property.

Cut down spending

Evaluate the historical operating statements of the property to determine if there are areas where you can decrease the expenses. More energy-efficient light bulbs in the common areas will radically cut your monthly electrical bills. Where gas is concerned the gas company can individually meter the units which will enable the gas expense to be passed on to tenants, instead of you bearing this recurring expense.

Transform the value of the property by repurposing it

Sometimes if you seek a zonal variance to convert a commercial real estate for another purpose, it can drastically transform the value of the property. For instance, a run-down industrial area can be converted into a massive upmarket shopping mall - the value of the property increases with its lucrative potency.

Boosting the value of your commercial property may seem like an insurmountable task. But it can be super profitable. By increasing rent, decreasing costs, and making necessary repairs, you can easily add value to your property.

RD Clifford Associates for your commercial real estate appraisals

Since 1990, RD Clifford Associates has been a leader in commercial property valuation in New York, New Jersey, and Pennsylvania. They are experienced in valuing commercial properties of all sizes and for all purposes. You can rely upon their detailed reports to provide you with all relevant information and an accurate valuation.

Tips for Buying Your First Investment Property in New Jersey

Real estate has created a variety of investment opportunities and can be a sound option for individuals looking for dependable and reliable investment opportunities. But, like any other investment, you need to be careful about where you put your money.

Here are some handful tips before you buy your first investment property:

Hire a real estate appraiser

A real estate appraiser gives you an estimate of market value of the house, vacant land, or even a commercial property. They perform an in-depth analysis and provide detailed  inputs related to the nature, utility, and quality of real estate. They conduct thorough market research into relevant market, prepare a compilation of the necessary data, and provide their professional judgment to give an informed decision. A property appraiser helps you to mitigate your risks and provide you with relevant answers to all your questions related to real estate property.

real estate appraiser

Financing options

Among the various ways to finance your investment property the most common way is by way of bank loans and mortgages. If you have adequate cash for paying the asking price, you can go ahead and pay the lump sum amount. However, if you are thinking of taking a loan, it's best to have an in-depth understanding of the loan terms and conditions and the interest rate that they will charge.

Understand your market area

The familiar phrase 'location, location' is still relevant in this day and age when it comes to buying an investment property and real estate. Your real estate appraiser will help you to understand the importance of this, and will perform a detailed study of the feasibility of each location.

Calculate your profit margins

It is safe to assume that you can set a goal to receive a 10% return on your investment. You need to calculate costs that include maintenance costs, insurance costs, property taxes, monthly expenses such as landscaping and pest control. Once, you know all the future costs, you can be a better judge of your yearly return.

Like any other investment, it is best to keep your expectations realistic. Selecting the wrong property can be a terrible decision and put your hard-earned money at stake. Having an experienced real estate appraiser on your side will help you devise a sound plan and help you make a firm decision.

Business Reports: Know and Grow the Value of Your Business

Business reports are a vital part in evaluating and planning organization's long term goals.When used correctly, business reports are a powerful tool, a guiding torch, to steer the business in the right direction. It provides a benchmark for management and employees for all the future transactions.

Benefits of business reports

Perhaps the most crucial advantage of business reports is that they provide vital information to investors and management. It helps to identify key strengths and weakness in management, and helps employees and management to draw the strategy for future planning. They provide essential information to compare their perforation with previous time periods or with  competitors -both of which are important to secure ongoing growth.

For  regulatory compliance

For public companies, it is compulsory to disclose their financial statements to public and other reports that can be used by investors to evaluate the company's risk. Also, many other circumstances make it compulsory for companies to frame proper financial reports. For example, when buying or selling a business property, a property appraiser might ask for business reports to make a sound decision. A real estate appraisal will ask for proper documents to accurately value the business property. When they are drawn correctly, it gives all the external agencies correct information to come to the right decision.

real estate appraisal

Expansion plans

Businesses looking for expansion or on a lookout to buy new properties can gain from business reports. Often, when purchasing a new business property, property appraiser might ask for legal business reports to obtain necessary funds and strike a right deal. Also, receiving funds becomes quite easy from lenders and financial organisations.  With regular and updated evaluation, it becomes fairly simple to strategist business plans and goals at the right time. They also help to highlight any problems or glaring mistakes in the organisation if found any.

Future planning

Legal disputes, divorce, or personal loss can sometimes give rise to difficult times if all the information is not laid down in black and white. If you want to sell your business assets, a property appraiser will demand correct documents to help you fetch the right prize for your assets. By implementing regular inspections and keeping all the records up to date will help to beneficial in a legal proceeding such as audit investigation with a government agency.

Business reports can contribute to know the real value of your business and have a better understanding of your strengths and weaknesses. By identifying the key growth factors, business owners can implement effective strategies that focus on increasing market value.

Meta Title: Business Reports: Know and Grow the Value of Your Business

Meta Description: When buying or selling a business property, a property appraiser might ask for business reports to make a sound decision.

5 Reasons Why You Need a Personal Property Appraiser

Engaging the services of a New Jersey property appraiser cam help you protect your investments and ultimately, your financial wellbeing. Valuation professionals can provide you with an independent, impartial analysis of your personal property, business, or real estate. Appraisals can be informal as performed by a qualified real estate agent; however, mortgage guarantors and lenders usually require a formal appraiser by a professional New York property appraiser when financing a purchase.

A property appraisal is different from a mere home inspection. While a home inspection only outlines the condition of different aspects of the property—ranging from its structures to its grounds, utilities, and its sidewalks—a property appraisal provides a more in-depth investigation along with an estimate of the property’s monetary value compared with similar properties in the market. Below are major reasons why you should consider a professional appraisal for your property:

• Buying/selling a home – Whether you are selling or buying a home, a professional appraisal is a valuable tool in determining the real value of the property in question. When selling a property, hiring a New York property appraiser will help you secure its value, which is an important step in figuring out a listing price. This is especially true for properties with unique attributes. Property valuation is also an important step when trying to purchase property. Lenders will want to make sure that the home you are buying is worth the amount of money they are lending. Hiring a personal property appraiser will help you verify the listed price of the property.

New Jersey property appraiser

• Refinancing – Property refinancing also calls for the services of a New Jersey property appraiser. Lending institutions require formal appraisal so as to ensure that the refinanced loan amount is justified by the property’s collateral value.
• Home Equity/Renovation Loans – Property values increase/depreciate overtime, which is why it is important to keep track of your own property’s value, especially when borrowing money for renovations or home equity.
• Estate/Legal Purposes – Property appraisals are also critical when transferring wealth and estate from one family member or one generation to another. The current market value of the property eases division of assets as of the date of transfer.
• Tax Assessment – Finally, you may want to hire a professional New York property appraiser to help determine property tax levy when evaluating your property assessment notice. Discrepancies between your assessment notice and personal valuation may entitle you to a tax appeal.

Getting a Real Estate Appraisal During a Divorce

A divorce—whether friendly or hostile—can mean a lot of work in terms of dividing assets between parties, especially when a prenuptial agreement is off the table. A real estate appraisal is the best way to find out exactly what your share of your family residence and other properties will amount to. Professional real estate appraisers can determine the market value of your property, whether it be a residential estate or any other type of real property you wish to divide with your ex-spouse.

In most cases, divorce attorneys can refer you to reputable real estate appraisal firms that offer expert property valuation services. These are firms that offer unbiased and well-studied appraisal of your property and will report on your behalf. It is often a wiser choice to get appraiser recommendations from your divorce lawyer (or lawyers, if both parties retain separate attorneys) to avoid problems and conflicts down the line.

Unless each divorcing party requests a separate appraisal for the property in question, the real estate appraisers fee is usually paid for by both. This amount is typically split down the middle and shared by the opposing parties. This said, appraisers may collect fees in varying ways. In some cases, they bill the lawyer that retains them on the divorcing parties’ behalf, and in some cases, they collect directly from the spouse staying in the home as they do the appraisal. Making prior arrangements and knowing your payment options is advised so you know what to expect.

Like any other real estate appraisal, a divorce-triggered property valuation begins with a property visit, during which the appraiser will ask questions about the house, ranging from the history of the property to some structural problems or concerns. Real estate appraisers also typically take measurements and do thorough inspections of every nook and cranny to check for features and conditions that may raise or decrease the value of the property in question.

Following the physical visit of the property, appraisers do a market research of similar properties, usually within the surrounding vicinity. Sale prices of similar homes sold within the last few months usually affect the market value of an appraised home. Appraisers also use standardized templates that detail itemized comparisons between your home and other houses that are of similar or close enough value. Only after a definitive analysis of comparable homes can professional real estate appraisers make a justified valuation of the property in question.   

5 Top Appraisal Tips For Agents In The New Year

New Year is the time when resolutions are made. As an agent, you are apparently looking at improving the efficiency of the work that you do. Why not focus this year on communicating well with your Appraiser because it will bring you immense value. Often Agents approach Appraisers only when there’s a fire threating to get out of control. Rather than waiting for critical times, a proactive approach with Appraisers is needed. It will help you deliver excellent service to your clients. There are other things you can also do to smoothen out the appraisal process on all the properties you sell.

5 Top Appraisal Tips for Agents

Is your square footage on the dot?

When an MLS listing does not show actual square footage, it can snowball into an issue. Your client is purchasing his new home on your estimation of the size of the house. An inaccurate square footing would lead him to buy a home smaller than he had imagined, so he would end up paying more for less! Besides where would all his belongings go, now that he has a smaller home, than you had promised? Apart from this, a sales statistic is the yardstick other agents use to advise sellers on how they should price their property in tune with the homes in the neighborhood.

Does the market support your list price?

Agents must follow the same method as appraisers to price property. Real Estate Appraisers determine the market value of a property from what others have sold their property for and the current listing. This will prevent deals from failing to take off. Also, comparison should be made with properties having similar physical attributes of age and condition to estimate accurate value

Interact with the Appraiser

It is important to provide the Appraiser with any additional information you may have which could affect the pricing of a commercial property appraisal or a home property valuation positively. For example, let him know if you factored in the recent renovation in your pricing or any other feature which may not be visible upfront. A professional appraiser would be more than willing to hear you out.

Be particular when ordering an appraisal

Do not try to be cheap and sing a pretentious knowledge of the property’s market value when you do not know it. There are situations where ordering a pre-listing appraisal will cut on time and money. You can list the property and sell it off quickly which is turn will down marketing time and costs and the seller’s mortgage payment.

Tie-up with an experienced Appraisal provider

If you have clients in Pennsylvania, New York, and New Jersey you should tie up with an experienced Appraisal provider like RD Clifford Associates, Inc. The company is a full-service provider of Appraisals, Valuations, Consulting and Expert Testimonies for the real estate, mortgage lending, machinery and equipment, capital asset, divorce and estate settlement markets. It is an established leader in the appraisal and valuation industry and has been faithfully meeting customers’ needs with the highest integrity since 1990.

Clifford Associates breaks apart from the rest with:

• Accurate, quality research
• Timely, error free appraisals
• Market competitive rates
• Exceed industry standards
• Innovative in use of appropriate technology

Happy property selling in the New Year!