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Feb 25, 2010
Leasing & Selling in Today's Market
By: Deb Averett
Century Sales & Management, LLC hasn't felt the least bit slow since Alan Dawson walked in the doors last summer. Alan has had 14 transactions since September 2009-which in this market is absolutely incredible.
One of the transactions Alan was involved in was leasing a space for Jim Wickless and his partners located at 6701 L Street. When we asked Wickless what it was like working with Alan, he said, "Alan did an amazing job with a really slow market. He counseled us as to what different alternatives we might offer to make the lease more attractive. During the listing and leasing of our space, he handled everything from soup to nuts."
Soup to Nuts
When Alan lists a property, he not only gives you advice on what the market value of your property is, but he also is heavily involved in the marketing process. He makes sure that the ...
Filed in:
Commercial Sales
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Sep 21, 2009
Calculating ROI on Tenant Improvements (TI's)
By: Alan Dawson
Highlights Include:
When performing tenant improvements, ensure you fully understand and analyze your return on investment by amortizing costs over the length of the lease.
When doing tenant improvements, it is important to analyze which improvements are good for future tenants and which items will need to be replaced when the existing tenant moves out.
Expensive tenant improvements usually call for a longer lease or an option to buy for the tenant.
Century is currently negotiating many leases in space around Lincoln. Call Alan at 437-8303 to get your space sold or leased.
Tenant Improvements (TI’s) all come down to cost, length of the lease, flexible floor plans, and tenants that are credit worthy and can comply with the terms of the lease. Century Sales and Management can help you in considering all these variables to ensure you get a return on your investment. Below is a brief overview ...
Filed in:
Commercial Management,
Commercial Sales
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Aug 31, 2009
Lincoln Vacancy Update
By: David Watson
Highlights Include:
Vacancy results are mixed depending upon location and unit type
Century has specific vacancy data by area of town, unit type, etc.
Century is working with active buyers of large apartment complexes anywhere and small or large multifamily properties in south Lincoln.
Lincoln Vacancy Update
There seems to be conflicting reports about the rental vacancy rates depending upon who you talk with. I talked with one landlord with a few hundred units in Lincoln who says July was the worst month in his history of owning apartments while I saw another individual on the news who owns about 200 units say his vacancy is the best it has been in 10 years. Who is right? Both individuals. Century has recently segmented all of our vacancy by area of town, unit type, etc. Our data suggests that certain types of units and certain areas of town are very strong ...
Filed in:
Apartment Management,
Apartment Sales
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Jul 1, 2009
Lincoln Market Update
By: David Watson
Lincoln Market Update
Apartment Sales Activity has been strong in the last couple months while commercial sales and leasing has remained very slow. Apartment sales activity may be strong right now because interest rates are low and we believe apartments are poised for significant rent increases during 2011-2013. Here is our reasoning for this projected rent increase:
Significant government spending will most likely result in higher interest rates making it more difficult to purchase a home.
Tightened credit also makes it more difficult to buy a home.
Government spending will most likely cause inflation raising the price of most goods and services.
Slower construction rates in the city in recent years has not kept pace with normal absorption of rental units.
At Century, we began raising rents in 2008 and continue to find success in doing so during 2009. Additionally, one of the leading eviction attorneys in town claims evictions ...
Filed in:
Apartment Management,
Apartment Sales,
Commercial Sales
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Jun 7, 2009
GoCentury.com - A Better Way of Finding a Rental
By: David Watson
Century now offers the most premiere rental website in the city of Lincoln for renters to find an apartment. GoCentury.com launched May 1st and had an overwhelming response from prospective renters. What makes our site so effective?
Video Tours – No other website does true video walkthroughs. We do.
Social Networking – We utilize the power of websites such as Facebook and Youtube to drive referral tenants to you.
Mapping - We employ a Google map so prospective tenants know precisely where rental property is located.
Comparison List - Tenants can save property they like to their own customized comparison list while they continue browsing other rentals.
Full service Internet Marketing – Century will professionally market your property on other websites such as Craigslist, Googlebase, Oodle, and more.
Measurement - We measure traffic numbers (visitors, time on site, bounce %, etc.) to every page of our website. We also measure video views.
The whole process of ...
Filed in:
Apartment Management
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May 29, 2009
Qualifying Commercial Tenants for a Lease
By: Alan Dawson
Highlights Include:
What paperwork and background checks are necessary to qualify a comnmercial tenant?
What credit information is the most significant?
What qualifications do you look for in a tenant?
What are other components of a lease that determine if a tenant is desirable?
Who makes the final decision on accepting a commercial tenant?
Full Article:
The most important decision a commercial property owner will make, second only to what property to purchase, is who to rent to. In this difficult economic time it is tempting to lower your standards as to whom you are willing to accept as a commercial tenant. This can be a HUGE MISTAKE! It is critical now to qualify potential clients using the strictest of standards. The risk of a tenant defaulting is greater during time of economic stress. The components of qualifying a client are fairly simple but it is important not to disregard ...
Filed in:
Commercial Management,
Commercial Sales
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Apr 1, 2009
Q & A on CAM Charges
By: David Watson
Highlights Include:
Each lease will vary on what CAM charges are passed through to a tenant
Depreciated items are typically not included in CAM charges
We recommend CAM charges to be paid by tenants monthly and reconciled by the landlord/management company annually
Q & A on CAM Charges
Real estate agents and landlords often refer to the term “CAM charges.” What does this term mean and how does it affect landlords and tenants? “CAM” charges refer to “Common Area Maintenance” charges. These charges are building operational charges that are usually shared by the various building tenants based on the amount of leased space that each tenant occupies.
What items are included in CAM charges?
CAM charges do not always cover the same things in every building. In a multi-tenant office building, CAM charges may include lawn care, snow removal, cleaning and maintenance of common hallways, lobby area, and common restrooms ...
Filed in:
Commercial Management,
Commercial Sales
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Mar 21, 2009
Managing Apartments in a Bad Economy
By: David Watson
Highlights Include:
Four tips to managing apartments during a recessionary economy:
1. Keep your tenant approval standards high.
2. Keep receivables low.
3. Focus on resident retention.
4. Avoid deferring maintenance.
Below are a few tips apartment owners should keep in mind while managing apartments during a struggling economy.
Keep your tenant approval standards high. It can be easy to relax tenant approval standards in difficult times and allow just anybody to move into your apartments. At Century we check credit, employment, rental and criminal history on all prospective residents. We have continued to hold high approval standards for new residents helping to minimize eviction and uncollected rent.
Keep receivables low. It is important to ensure residents continue paying their rent during difficult times. You do the resident and yourself a favor by keeping uncollected rent to a minimum. Without prompt collections, you can find yourself ending up with a ...
Filed in:
Apartment Management
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