Author Archives: Property

About Property

Born and bred in Johannesburg, and of Asian descent, I've been in the real estate game for the past 10 years. From private residential property to big commercial properties, I've dealt with all types. Property development, property sales and property purchases are what my work is about, and I've always enjoyed being in the business. I decided to start blogging about property when I realised that there were a lot of questions that people had, and they were often struggling to find information, on anything from building on their property, to selling one quickly. So on this blog, you'll find articles by me, and by some people I know in the industry, with a variety of different topics on all things property related.

GREEN UP WITH BUILDING CONSTRUCTION

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Because of increasing environmental awareness in South Africa, major building construction companies prove that they are beginning to focus on pursuing green practices and projects.  Particularly in renewable energy projects where opportunities were emerging.

Increasing environmental awareness

A view has developed that climate change opportunities exceed risk. Thus the companies have sought to develop capabilities around greener practices and technologies on a wide scale. Majority of building construction groups, see it as critical to have the ability to offer low carbon solutions as required by clients,

The South Africa’s construction sector has a key role to play directly and indirectly in moving the process of greenhouse gas emissions reduction forward.  It suggested that a regional climate change development plan could assist the construction industry in taking its green practices forward.  This would require interactive discussions between government and construction industry individuals

Trend changes in building construction sector

A number of trends are evident in the construction sectors, which signal changes in construction practices.  For example, increased focus on the environment and the introduction of greener practices and technologies. Another trend in the building construction sector is that firms are engaging with products or strategies focusing on reducing energy consumption.

In terms of progress, large firms are influencing the practices of suppliers. There is the opportunity for a more extensive process of energy efficient and environmentally-friendly products emerging within South Africa.  These practices go beyond construction firms, to manufacturing and through to service providers.

Green building technologies and practices

New technologies are constantly being developed to complement current practices in creating greener structures.  Green buildings are designed to reduce the overall impact on human health and the natural environment.  Efficiently using energy, water, and other resources and reducing waste, pollution and environmental degradation, are part of the process.

Green building brings together a vast array of practices and techniques to reduce and ultimately eliminate the impacts of buildings on the environment and human health. It often emphasizes taking advantage of renewable resources, e.g., using sunlight through passive solar, active solar, and photovoltaic techniques and for reduction of rainwater run-off.

Many other techniques, such as using packed gravel or permeable concrete instead of conventional concrete or asphalt to enhance replenishment of ground water, are used as well.

Sustainable design and natural building

A similar concept is natural building, which is usually on a smaller scale and tends to focus on the use of natural materials that are available locally. Other important subjects include sustainable design and green architecture. Sustainability may be defined as meeting the needs of present generations without compromising the ability of future generations, to meet their needs.

Incorporate sustainability into all company operations, both in the field and in the office. Encourage all clients and building construction companies to consider green building construction, regardless of project goals. Bring green solutions to the table, solutions that are in the best interest of clients and associates. Methods which can drastically improve the situation are energy efficiency, conserving natural resources, and preserving the environment.

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Tips to Successfully Rent a Commercial Property

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You may have started a new businesses or looking to rent out new premises – whatever your reason for wanting to rent out a commercial property it is a venture that requires due consideration. Renting a commercial property needs to enhance your standing as a business rather than become a liability where the payments cannot be met. If you are looking to rent a business space and are unsure what to look out for, consider these tips below.

There are naturally many different angles that need to be thought over carefully when determining what kind of commercial property will suit your business needs the best. Location is one of the most critical aspects to think over in-depth. Where would you like to be ideally situated? Who is your target market? If your business is in retail you need to consider the amount of traffic you require on a daily basis. It is easily accessible? Is it in a part of town that encourages the kind of shoppers you require? If it’s a restaurant you should be easily visible from the road with ample parking facilities. If you are in a new business venture and have not set up shop before make sure you carry out sufficient research in order to determine what your optimal location would entail.

Once this has been established you need to consider the financial requirements when renting out a commercial property. Before you go property shopping, calculate accurately how much you can afford on a monthly basis. This combined with the ideal location of a property will help to give you a starting point from which to search.

You may find that your budget does not reach the necessary financial requirements for the ideal property. This can especially by pertinent if you would ideally like to be in the centre of town or rent a bigger space. When it comes to compromising be sure to consider carefully aspects about a rental property that are not as crucial to your business dealings compared to others. Location is still a key element though but perhaps there are other up and coming areas that a proving to be lucrative as well. Search around and give yourself time to figure out what options are available to you.

When you find a property that fits with your needs there are several details that you need to go over before making any decisive steps. Find out exactly what services are offered with your lease agreement. Are there ay security measures in place? Is there any parking bays allocated to that property? What about visitors parking? Are electricity and water expenses included or excluded from the rent? Does the workspace come with escalators or lifts? Are these in good working order? When renting out areas in buildings and complexes, common areas come into play.
Enquire what portion of the rent is made up of these common areas, i.e. toilets, kitchen area etc. You want to make sure that this portion of the rent is as low as possible so that you can maximize on the rentable usable space to help optimize your business operations.

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How to Successfully Sell Your Commercial Property

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There is a lot of work that goes into successfully selling a property, whether it is commercial or private. It is essential to involve the right people and take the right steps towards advertising and preparing the property for show. Selling a commercial property is not an easy venture to follow, especially in our economic times but there are many things you can implement that will get you closer to achieving the results you are aiming for.

Whatever your reasons are for selling a commercial property, you will want to get as much out of it as possible. In order to achieve this there is a lot of preparation to do beforehand. Firstly you need to look at the condition that your property is currently in. To get an accurate idea of its current worth it is best to get a valuation through a real estate agent. Don’t just approach one either but get figures from more than one so that you have a few to compare against in order to come up with a realistic figure. You may find that by fixing a few aspects or updating the property in terms of its fixtures etc can boost your profitability margin.
Selling a commercial property can be anything from a home, an office space, rental space, industrial space or restaurant space to name but a few. The process involved when selling such a property is not that different to selling a privately owned one. You need to make your property be as appealing as possible to potential buyers. This means sprucing up the place as much as possible while not spending too much money either. What is the condition of the interior space? Are the walls, floor and ceiling in good condition? Are all the fixtures in place and working, such as lights, built in heaters and/or air conditioners? How do the bathrooms look if any? Is the outside space in good condition as well? Consider theses questions carefully and be further advised by any real estate agents you approach for valuation purposes.

When it comes to advertising your commercial property, you need to expose it to as many different marketing channels as possible. Naturally, going through a real estate agent is important and can help ensure you have all the paperwork in place. Real estate agents will also have contacts within the industry and know where and how to best market your property. Be sure to be critical about which agent you choose to use as you want the most reputable and skilled agent on your side. Advertise your property online as well as in print. There are numerous commercial property websites that list any currently on the market. Place it in the classified in your local paper. There are also publications that focus specifically on real estate that would be worthwhile advertising in.

Selling your commercial property means convincing potential buyers what a good deal they are getting. Fix up your property as much as you can and highlight the strengths it has to offer. Involve the services of competent real estate agents to help you through the selling process and advertise your property via as many different marketing channels as possible. Follow these tips and you should find yourself achieving the outcome you are aiming for.

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How to Choose between Renting and Buying a Commercial Property

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A time comes when a business is growing successfully enough that expansion is needed in terms of workspace. A classic example in our modern era is evidence of the entrepreneurial spirit that has encouraged many individuals to start up their own businesses from home. The rise of technology and the Internet has enabled people with small ideas to grow them through understanding the web and being able to do so with minimal start-up costs. Each entrepreneur will be striving to get to a point where a more substantial commercial property is required to meet the demands of the growing business. So if your business is at a level where you need to find bigger premises but you are unsure whether buying or renting is the best option, an exploration of both is outlined below.

Before being able to make a decisive decision it is important to look at the needs of your business and what type of commercial property would suit it best. The most important consideration is the location, size and access for customers. Do you require a restaurant space, an office space or retail store. Do you need people to be walking by your business to help attract customers? Or is your business suitable to being out of the way so that customers have to be looking for you directly? How much space will you require? Do you need to buy a full set of office equipment? By finding answers to these questions you will begin to establish what the best type of commercial property is most suitable and which location you would prefer.

Choosing between renting and buying a commercial property does boil down to which is the better investment. If you have the capital, owning a property outright is always the preferred option, but only after due consideration. Do you have enough capital to meet the monthly repayments of the building that you would prefer? How will this impact on the cash flow needed for your business? Investing in any property is a big step and with the real estate market going up and down, an investment can turn either way. If you are in doubt about the affordability of buying a commercial property, especially down the line then renting can be the safer option.

Renting a commercial property can be a more flexible option enabling you to get the property you want and by shopping around at a more affordable rate. Depending on your requirements this can enable you to be more picky in terms of location and size, which when buying might be more restrictive depending on your budget is and what is available on the market. If you require office furniture as well you can also choose to rent a space that has all this included to save you having to acquire all of it yourself.

When it comes to choosing between renting and buying a commercial property, you need to consider your financial situation carefully. You need to keep in mind that buying a property is a long-term investment and requires the need for continual repayments. If you are able to meet this and not have it impact on the cash flow of your business then it is most certainly the preferred option. If you find yourself more restricted financially then renting is the most viable option.

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Guidelines when Buying Commercial Property

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In the real estate business, owning a property out right is the most ideal situation. When there is enough capital for such a venture the risks are substantially minimized although caution should always be taken to ensure the investment is sound. On average, buying real estate, whether commercial property or private is a big step to take for most people. If you are interested in buying commercial property it is important to cover all necessary angles so that it becomes an asset rather than a liability.

When considering buying commercial property, you need to keep in mind the reasons you have for pursuing this venture. Do you plan to lease it out to generate a continual cash flow or do you want to use it for your own business purposes? Whatever your reason might be, it has to be a sound investment. To do that you need to break down your thought processes. In this light, consider the property you are aiming for. If you are planning to lease it, what kind of businesses will you be aiming it at? If it is for your own business, how much space do you require? Once you have an idea of what you want and why, you need to work out your available capital.

How do you plan to finance the purchasing of commercial property? Before approaching any potential real estate, have your finances in place first. Speak with your bank and other financial institutions to determine how much capital you can loan and whether the repayments and interest rates are within your budget. This will normally mean acquiring a commercial bond, which will be dependent on how much in down payment you can afford. By getting an idea of how much a bank is willing to lend you, you can gauge which properties fall within your price range. Once you have your capital in place and you know what you are looking for you will have refined your search quite considerably.

When it comes to finding a potential candidate, there are various avenues to follow. Look online as well as in the newspaper classifieds. Online will give you a good overview of what is available within the area you are looking at. You can also approach real estate agents to place additional feelers within the commercial property market and refine your search even further.

The most important question that needs considerable attention is determining the true value of any commercial property you are considering to buy. Have the property valuated by more than one real estate agent to help give you an indication of its worth. Remember too that location is very important, especially if you plan to use the property for your own business needs. If you are planning to lease the property calculate how much you expect to get in return on a monthly basis. Have the property evaluated by an architect if it is an older structure. Ensure too that all the right papers are in place and no payments are outstanding.

When buying commercial property it is essential to take your time, do your research and cover all aspects – do not leave a stone unturned! Have your finances in place and know exactly what you are looking for and why. Enlist the help of professional when you are in doubt about the value of a property you are considering. By taking the right precautions you can find yourself with an asset based on all the right decisions.

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What to Consider when Leasing Commercial Property

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Businesses might acquire commercial property for a number of reasons. Firstly, the more obvious choice, to set up one’s own business practices and secondly to rent out the space and create a continual flow of cash. This second option is becoming a more popular way for businesses to generate an additional income. If you find yourself in a position to do just this, there are some considerations to bear in mind to help ensure you optimize on your income potential.

There are a few aspects about the commercial property you want to rent out that you need to outline before any action should be taken. What kind of business is your commercial property suited for? Is your property a retail space, an office space or for more industrial purposes? You need to know exactly the business you want to attract in order to carry out a successful leasing agreement.

Not only is it important to consider the type of business from a practical point of view but also to ensure that whatever business fills your space, it will also be more likely to do well. It is helpful to consider businesses that have already established themselves within the market place and have been operating successfully for some time. New businesses come with a significant amount of uncertainty and the risks are therefore substantially lowered when leasing out to businesses that already have an established customer base. Leasing out a commercial property means finding the most suitable business to ensure as few hassles as possible and a long-term agreement that is beneficial for both sides.

Make your property as attractive to potential tenants as possible. If it is an office space, consider offering it with office furniture intact for a higher monthly rental. If it is a retail store highlight the good aspects of the property such as the lighting and layout potential. There is much you can do in terms of aesthetics to emphasize the attributes your commercial property has to offer.

When it comes to advertising your commercial property to potential tenants there are a few avenues to follow. Make use of the various online portals available for advertising purposes. There are a variety of real estate directories and websites that specialize in the renting and leasing of commercial property. Consider placing an ad in the classifieds as well through various newspaper and publications that focus on listing business properties on the market. Enlisting the services of a real estate agent that specialized in renting out commercial property is a good way forward. They will be able to assess the market and advertise in the right areas. By involving a real estate agent, you will also ensure that all the necessary steps and legal aspects have been covered.

Leasing out a commercial property can be a wise and lucrative business decision when implemented in the right way. Determine accurately the kind of business you want to attract and make your property as desirable as possible. Cover as many advertising avenues as possible and be critical when it comes to choosing the right tenants. Keep these considerations in mind and you should find leasing your commercial property to be a worthwhile business venture.

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Tips to consider when buying a property

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Buying property is a huge step as it is most likely one of the most significant investments you will make in your life. An investment, that you will want to be able to make the most out of down the line should you want to sell. Therefore, you want to make sure that you not only stay within your budget, but that you also buy a property that has potential. There are many legality and financial aspects that come with buying a property. It is always important to seek the advice of a professional when considering a property to ensure you are getting a good deal. However, there are also some other aspects to keep in mind as well so we have listed some tips to consider below that will hopefully help you towards buying the property right for you.

Buying Property Tip #1 – Do your homework

Knowing the property market, what is available and what that particular area is like are just some of the areas where you need to do your research.. Depending on whether you are searching for a long-term home or an investment you may want to sell down the line, it is important to consider the potential of the property, the area and what will it be like years down the line? Consider the safety, i.e. crime rate in the area, do you want to grow kids up in the area, what are the people like, what surrounds the area etc. There are many considerations that need to be thought of to make sure that not only the house itself, but its location and positioning ticks the right boxes as well. Make sure you know how much you can afford before agreeing to any asking price. Consult with your bank and only after you have received approval for a mortgage should you take any steps towards making an agreement with another property owner.

Buying Property Tip #2 – Carry out a structural survey

While with new and mid-aged homes this may not always be as necessary, but it is important to consider carry out a structural survey on any home you are considering buying. Although this may eat into your budget, it can potentially save you considerable money and time. If you are looking at older property, then carrying out a structural survey is essential.

Buying Property Tip #3 – Ask questions and be firm

Always ask as many questions about the property as possible. Find out why the property is on sale in the first place. Make sure you understand what comes with the property, many homes on show are presented in such an attractive, beautiful way; but should that all the gone it might be a completely different picture. Never agree or offer the asking price. Remember that estate agents and/or owners will always add a bit more onto their asking price because they know that buyers will always offer less. So don’t be afraid to take a risk and offer a cheeky price. You never know, you might be pleasantly surprised. Remember to never let your emotions get in the way of your judgments. Estate agents and sellers are going to be as savvy as they can when it comes to selling their property so you need to have your wits about you and always have your eyes open so that you are fully aware of all aspects of the property before making an offer.

These are some tips to keep in mind when considering buying a property. Buying a property can be the best decision you ever made or the worst. It is a huge investment so you need to be certain you have covered all the bases before signing any contract. We wish you the best of luck and hope you find the property you are looking for!

Choose PMM Properties for all your commercial property needs.

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Selling Commercial Property

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More people are investing in real estate property than ever before. It is very important that you think critically when selling your commercial property because if you go about things the wrong way it can cause you to lose money.  Selling your commercial property can cost a fortune and be quite a daunting task, especially for the first-time seller. However, there are a few tips you could use to keep expenses to a minimum and have a successful sale.

Advertising Without Spending A Fortune

Listing your property online is a free way of getting your advertisement out to people. There are many online classifieds that allow free ad posting and often will let you list your properties in bulk without restrictions. There are sites which do charge a small fee for advertising with them but this can often work out in your favour as they generally would generate more successful sales. Also, this small fee is nothing compared to the amount of money you would pay in commission when selling your commercial property through an estate agency.

Most areas have a free local newspaper or publication. These usually have a section in which properties for sale are advertised. You could contact the publication and find out if they would publish your advertisement free of charge. If they do charge a fee, then it would usually be quite small.

Another great idea would be to invest in a quality “commercial property for sale” sign. This is a great way to create interest in and excitement around the property. It would be especially effective if you are situated on a major road that experiences a lot of traffic. The sign would then inform people who have not gone through online sites or the local newspaper for commercial properties for sale. If you wish to successfully sell your property, then you should explore all available advertising options both online and offline.

Hiring A Broker

If you feel you’re not experienced enough or don’t have the time to put into trying to sell the property, then you can hire a broker or commercial real estate agent to do it for you. This is of course not the best case but losing some of the profits to a broker is much better that not being able to sell the property, not getting a good price or losing money to taxes.

There are many sites which list and provide information about different property brokers in different areas. By doing a simple search online you can find a professional who will be able to assist you with the sale of your commercial property. You should never be too proud to ask for advice or hire a broker, especially if it your first sale. You will eventually learn how to go about it and all the legalities involved and then you would be able to handle sales without the involvement of a property broker.

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Renting Commercial Property

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While working from home is a great idea if you only need a small amount of space, it is not an option if your business requires a big work space. You would then have to consider renting or leasing a commercial property. You should bear in mind that a lease is a legal document and you should be very sure you understand everything in the document and you are happy with everything before signing anything.

There are many pitfalls to be wary of, but by following some simple guideline you should be well on your way to successfully renting the right space for your business. The most important thing you should do is to make sure the person you’ll be renting from is in fact the legal owner of the commercial property.

Tips And Advice For renting Commercial Property

When considering a certain property you should investigate the property’s suitability and fitness for the purpose you intend to use it for. You need to find out who is insuring the building and what is covered. You have to check whether the building meets fire, health and safety regulations as well as whether the building meets the access requirements of the Disability Discrimination Act.

Always make sure the property has the correct classification of use for your business before signing any lease documents. It is extremely important that you find out who is responsible for internal and external repair and maintenance. Also, make sure you are only responsible for maintaining the property in its current condition. If you don’t, you may be liable for damages that occurred before you occupied it.

You should always be clear on exactly what the costs and charges are and why you are paying them. Find out how much the rent is, when and how it needs to be paid. Also, ask if it includes rates and if it does not, then you need to ask how much the rates would then be. You should also inquire whether or not the rent includes any building insurance, utilities, service and maintenance charges and how often will the rent be reviewed.

It is very important that you consider the practicalities of working on the property every day. Find out if you can access the property whenever you like or if there are restrictions. Make sure the premises provides a suitable and comfortable working environment for you and your employees. It should also be safe. It would also be a good idea to find out whether or not you can sublet any space you are not using.

The next thing you should look at is how the lease renewal process would work. If it is a long- term agreement, then you should find out if there are any break clauses where both parties can consider whether they would like to continue with the arrangement. If it is a fixed term lease you will have to pay all the costs up until the agreed end date of the lease, even if you are no longer trading.

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Commercial Property Development

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If you are considering making commercial property development your new career, you should take a few things into consideration. Research is extremely important if you ensure the commercial property development project you decide to take on is a profitable one. While this career path can be stressful, if done correctly, it can be an extremely lucrative one.

Good organization and analytical skills will truly benefit you as a property developer. You should also be able to cope well under pressure as there can be a lot of stress involved. This articles discusses a few things you should take into account as you start your career as a commercial property developer.

Before Visiting Potential Properties

The first thing you should do is consider what type of commercial property interests you the most. At any given time there is a wide range of properties available in a certain area. It can be overwhelming when you look at all the investment and development opportunities in an area, but if you narrow down the field it could be much better for you. Think about whether you are more interested in retail spaces, office spaces or apartment complexes. Research what are the different challenges associated with each one. Once you have made your decision, your search will be a lot more specific and a lot less overwhelming.

Always look for and work with professionals who have relevant experience handling the kinds of properties you would like to buy. By contacting a real estate professional with relevant experience, they would be able to advise you regarding the which areas are best to invest in, which are suffering and which are most likely to increase or decrease in value.

Visiting Potential Properties

When you go and have a look at a potential property it is very important you have a look at the area the property is in as well. Try not to buy in an area if you see many run-down buildings or a large number of empty residential or commercial units. If an area is facing economic strain it may be hard to locate or keep tenants and reselling the property at a later date may also be difficult.

If you are happy with the area, you should thoroughly inspect the building. It would be a good idea to take an experienced professional builder with you who knows what to look for. If you plan on keep the existing building and just making minor changes to it, you should be completely sure that the structure is in a sound condition. Make sure you check for faults in the electrical system, plumbing system as well as in the structure itself. If you plan on making major changes to the property, then make sure there are no building restrictions in the area. For example, some areas have a height restriction that could be a major problem for you if were planning to build a five- storey apartment block.

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