How Can We Improve Real Property Management Services?

There are three startling points that the Government is facing about the real estate inventory which include:
     

• The combined area of the real estate property is 3 billion square feet.
• Approximately 80,000 of federal properties are either unused or unutilized
• 1.7 billion is paid by taxpayers for the maintenance of real estate property.

 

At NASA, a general assessment discovered that the real estate property consists of around 100,000 acres of land and 44 million square feet within the boundary of 5,000 buildings and other infrastructure. More than 80% of the above lying infrastructure are decades old and NASA is facing its deferred maintenance with a total amounting to $2.5 billion. This statistic shows the amount of responsibility the Government is facing in handling the real estate property. 

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6 Required Attributes for Good Property Manager

The property manager is an interesting job if one takes this profession seriously and honestly. He/she can work either for an owner of real estate property; join a property management company orwork as a contract basis with the property owner.

The property manager has to build a fiduciary relation between the management company and the property owner. It is his/her responsibility to manage the property at the best use.The assignments which can be allotted are apartment buildings, condominium, hotels, shopping complexes, office buildings, Government properties, to name a few.

Well, for being a successful property manager, one has to learn certain things such as:

 

Blog Source: http://leoprimeproperties.wordpress.com/2014/09/24/6-required-attributes-for-good-property-manager/

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Developers Struggling To Get Middle Income Earners

Many of the apartments in New York are struggling to look for the middle income tenants. The reason for such situation is the developers who are not able to find those people who come into the slab of defined income structure. Here, the apartment vacancy rate is less than 2 % and a one bedroom set costs nearly $4000 a month and the Gotham West complex costs for one bedroom is $2509.

For being able to get a room on rent, one would have the earnings in between $88,102 and $95,865 a year. Also, there are vacancies for studio and two or three bedroom sets especially for the middle income renters in complex on West 45th and West 44th streets. Gotham West is opened in the year 2013, which was constructed with the support of tax-exempt bonds from the state Housing Finance Agency.

In return, the developers have to offer cheap housing. Among the units, 250 are allotted for low income families who are earning less than $48,150 a year and the rest for middle income people who are earning $158,895 a year. Around 30,000 people applied for the apartments, but thousands have not got the luck and several units are lying empty.

To spread a word about languishing affordable unit vacancies, the developers started distributing fliers under the people houses. It is being said that middle income people don’t think that they are capable enough to buy such cheap apartments. Indeed, the posh areas are in maximum need of middle income housing. Technically, the middle income class is becoming rich.

At Gotham West, the rent rate for two bedroom apartments are going for $6,000 a month and consistently going up. The transparency line is fading away. The sponsor of the project, Housing Preservation and Development, said that the city’s developers have the responsibility to rent the apartments under the set guidelines. 

This post shared by Leo Prime Properties, who is one of the best Property Management Company Atlanta provides Atlanta Houses for Rent and Property Maintenance Atlanta services.

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