Sunday
Use Directories
Look, and I mean this, directories are important. I know they are annoying and frustrating when you are trying to find something of substance andyou keep getting these dadblasted lists, but they work. Take for instance rental properties. www.rentalhouses.com is one of the best local rental home resources I have found. They have consistent information and well organized photos/slideshows. Happy New Year. I look forward to bringing you more tips in 2008.
Hotels, Inns, and Restaurants OH MY, Glad we Gave Bright Leaf Junction Inn a try!
Property in Hot Springs, NC is hot. At least that is what Richard Bale and Mary Seaman decided when they embarked upon the Bright Leaf Junction project a few years ago. The area where the hotel and restaurant is located is comprised of two adjoining downtown historic buildings in the heart of Hot Springs, North Carolina. The original hotel was built in 1929 while the building that houses the restaurant is reported ot have been built prior to 1890 and is said to be one of the oldest commercial buildings in the county. The painstaking year-long restoration successfully preserved the unique character of the buildings as well as the original architectural details which include stamp0ed tin ceilings, elaborate cornice work, original skylights, plaster and lathe walls, transoms and heart of pine floors. For close to a century this downtown proeprty has served the citizens of Hot Springs and those traveling through the region as a hotel, boarding house, haberdashery and hardware store.
While the hotel is a destination unto itself, the town of Hot Springs has long been attracting visitors due to its ideal location set deep in the Blue Ridge mountains.
The major attraction in Hot Springs is the area's seemingly infinite and varied romantic settings and is why Hot Springs has become the number one choice in the tri-state area for destination weddings. Just a short scenic drive through the mountains will bring you from Asheville, Knoxville, Charlotte or Atlanta to the town and the possibilities that await.
I've never thought that property investment in little resort towns was fiscally responsible. But Mary Seaman and Richard Bale have made it work. Mary has a talent for decorating, relating to people, and she and Richard have enormous talent in hospitality. Enormous. That is why I say hats off to the owners of Bright Leaf Junction and wish them well on their relaunching. We know this project has enormous cash flow potential and hope that the drive toward "local" tourism fills them with all kinds of success.
- submitted by al fesperman
While the hotel is a destination unto itself, the town of Hot Springs has long been attracting visitors due to its ideal location set deep in the Blue Ridge mountains.
The major attraction in Hot Springs is the area's seemingly infinite and varied romantic settings and is why Hot Springs has become the number one choice in the tri-state area for destination weddings. Just a short scenic drive through the mountains will bring you from Asheville, Knoxville, Charlotte or Atlanta to the town and the possibilities that await.
I've never thought that property investment in little resort towns was fiscally responsible. But Mary Seaman and Richard Bale have made it work. Mary has a talent for decorating, relating to people, and she and Richard have enormous talent in hospitality. Enormous. That is why I say hats off to the owners of Bright Leaf Junction and wish them well on their relaunching. We know this project has enormous cash flow potential and hope that the drive toward "local" tourism fills them with all kinds of success.
- submitted by al fesperman
Monday
Rates for Web Ads in JPM
Unique Marketing Opportunities
IREM Interactive
Direct Marketing: List Rental
JPM Custom Reprints
IREM Interactive
Web site ads
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Horizontal Banner on the Web site link:
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supplementing your media plan with electronic advertising.
*Source: WebTrends, July 2004
Direct Marketing: List Rental
Order the names and mailing addresses of real estate management professionals and JPM subscribers for your next mailing. Individual listings are available and can be sorted by city/state/zip to target your customized audience.
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JPM Custom Reprints
The Journal of Property Management can help you stimulate sales and improve your bottom line. Capitalize on the editorial coverage you received in this prestigious industry publication with custom reprints and e-prints. Custom-designed reprints and e-prints provide valuable recognition and increased exposure by giving you a unique marketing and sales tool. JPM custom reprints and e-prints add value to:
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Sharing the Knowledge of Good Property Managers
To assist you in finding North Carolina property managers or a property management company to help you with property management for your houses and homes for rent in NC, the following is a list of property management companies and NC property managers who can help you manage your homes for rent including townhouses and townhomes, condos, duplexes, apartments, or houses for rent. To find out more information about rental property managers, residential property management, certified property managers, professional property management, and rental property management in general, the National Association of Residential Property Managers, NARPM, is a good source. Renters can also utilize the links below to view all of the home rentals available by these North Carolina property management companies or NC property managers and visit their property management websites for additional information.
Offering a full slate of water utility management needs.
Can work independently, with owner, or on-site manager for most effective fiscal control of your investment properties.
| Atlantic Realty Group - Cassandra Phipps |
| 8301 University Exec. Dr # 140 Charlotte, NC 28262 Tel: 704-510-0440 Fax: 704-510-0438 Company Keyword: Atlantic Realty Group View our listings View our website |
| Barker Realty Inc. - Jennifer Lawrence |
| 1401 Sunday Drive, Suite 116 Raleigh, NC 27607 Tel: 919-859-0044 Company Keyword: Barker Realty View our listings View our website |
| Cameron Property Management - Jim Cameron |
| 1220 SE Maynard Road, Ste 201 Cary, NC 27511 Tel: 919-481-0123 Company Keyword: Cameron View our listings View our website |
| Carod Properties, LLC - Sherkica Miller-McIntyre |
| 4801 E. Independence Blvd., Suite 1000 Charlotte, NC 28212 Tel: 704-927-4074 Fax: 704-927-4078 Company Keyword: Carod Properties View our listings View our website |
| Dream Realty - Kathryn Marshall |
| 6135 Park South Drive, Suite 510 Charlotte, NC 28210 Tel: 704-945-7143 Fax: 704-554-6144 Company Keyword: Dream Realty View our listings View our website |
| Elite Properties & Services - Catherine Norman |
| 300 Hwy # 5 Suite 1, Pinehurst Executive Pinehurst, NC 28374 Tel: 910-295-2442 Fax: 910-295-2990 Company Keyword: Elite View our listings View our website |
| Elite Team Property Management - Brian Augustine |
| 756 Tyvola Road Charlotte, NC 28217 Tel: 704-521-2735 Fax: 704-525-8455 Company Keyword: ELITE TEAM PROPERTY MANAGEMENT View our listings View our website |
| First Properties of the Carolinas - Kent Van Slambrook |
| 1104 South Tryon, Suite 202 Charlotte, NC 28273 Tel: 704-248-3514 Company Keyword: First Properties View our listings View our website |
| Four Seasons Property Management, Inc - Susan Amick Plonski |
| 2334 The Plaza Charlotte, NC 28205 Tel: 704-335-1431 Fax: 704-335-0714 Company Keyword: Four Seasons View our listings |
| Henderson Properties - Cindy Loveless |
| 919 Norland Road Charlotte, NC 28205 Tel: 704-535-1122 Fax: 704-569-9669 Company Keyword: Henderson Properties View our listings View our website |
| H & L Property Management, LLC - Clarence Haines |
| P.O. Box 562912 Charlotte, NC 28256 Tel: 704-531-5740 Company Keyword: Haines View our listings View our website |
| HomeVantage - Jason Hilliard |
| 7804 Fairview Road #167 Charlotte, NC 28226 Tel: 704-367-2404 Company Keyword: Homevantage View our listings View our website |
| If It's Water and More, LLC |
| P.O. Box 2022 Weaverville, NC 28787 Tel: 828-658-1000 Company Keyword: IIW View our website |
Can work independently, with owner, or on-site manager for most effective fiscal control of your investment properties.
| Klutts Property Management - Klutts Property Management |
| 1433 Emerywood Dr. Charlotte, NC 28210 Tel: 704-554-8861 Company Keyword: klutts View our listings View our website |
| Lease Evaluations, Inc. - Richard Roskind, REALTOR |
| 3420 Torrington Way, Suite 200 Charlotte, NC 28277 Tel: 704-905-6175 Fax: 704-936-2339 Company Keyword: goldroskindhomes View our listings View our website |
| McKinney Management - David McKinney |
| 304 West Fisher Avenue Greensboro, NC 27401 Tel: 336-370-9958 View our listings View our website |
| Park Avenue Properties - John Bradford |
| 21121 Catawba Ave. Cornelius, NC 28031 Tel: 704-334-2626 Fax: 704-334-2627 Company Keyword: Park Avenue View our listings View our website |
| Pennink & Strother Property Management - Chet Oehme |
| 5302 Yadkin Road Fayetteville, NC 28303 Tel: 910-864-3955 Company Keyword: pennink View our listings View our website |
| P-I Properties - Phil Price |
| 104 Paisley Street Greensboro, NC 27401 Tel: 336-273-4774 Company Keyword: PI View our listings View our website |
| Shearer Realty - Dave Shearer |
| P.O. Box 43079 Charlotte, NC 28215 Tel: 704-567-8200 Company Keyword: Shearer View our listings View our website |
| Showhomes - Thom Scott |
| 2002 Richard Jones Road, Suite C203 Nashville, TN 37215 Tel: 251-690-9090 Fax: 251-690-9100 Company Keyword: showhomes View our listings View our website |
| Stellar Property Management - Shawn Dumas |
| 1805 Sardis Rd N Suite 130 Charlotte, NC 28270 Tel: 704-321-0253 Company Keyword: Stellar View our listings View our website |
| Stevens Realty & Relocation - Franchelle Stevens |
| 1320 SE Maynard Rd. Ste. 104 Cary, NC 27511 Tel: 919-786-3366 Fax: 919-469-8627 Company Keyword: Stevens View our listings View our website |
| ValuePlus Properties, LLC - Team Palmer |
| 1775 W Williams St #127 Apex, NC 27523 Tel: 919-362-0037 Fax: 919-367-9409 Company Keyword: ValuPlus Properties View our listings View our website |
Thursday
Ruberize Your Ruler?
As George Orwell might have put it, "All square feet are equal, but some are more equal than others." The "rentable area" of virtually every office unit includes a large block of square feet that cannot be used, or even found, but for which the tenant is nevertheless charged rent. The percentage difference between rentable and usable area is known as the Loss Factor.
To make life even more interesting, loss factors vary from building to building, and sometimes from floor to floor. It might be 15% in a small prewar property, and 40% in a contemporary tower. The loss factor is never disclosed publicly, and can only be determined by measuring the space and comparing the usable and rentable square footages.
There are no universally accepted standards for establishing loss factors in office buildings. In 1969, the Real Estate Board of NY created guidelines, but they were ignored and eventually rescinded. A national organization, the Building Owners & Managers
As a result, rentable areas bear little relation to usable areas. Floors routinely "grow" overnight following the purchase of a property, a change in the landlord's agent, or the relocation of a major tenant. In researching space for a client recently, we found that a floor listed as 8,000 square feet had been listed as 6,400 square feet only five years ago. It had miraculously grown by 25%! In Manhattan, such discoveries are almost routine.
Rent is quoted in terms of rentable, not usable, area. So, if any two buildings offer space at the same $30 per rentable square foot, the rent per usable square foot will probably be different. If Building A's loss factor is 20%, for example, the rent is $37.50 per USF. If Building B's loss factor is 30%, the rent is $42.86 per USF. A building with a higher quoted rent, but a lower loss factor, can actually be less expensive than one with a lower quoted rent, but a higher loss factor.
What's a tenant to do?
Don't be put in the position of comparing apples to oranges. Before deciding among competing transactions, you must know the Cost per Usable Square Foot of each one. These calculations should be reflected in the financial analyses prepared by your broker.
In the early stages of the space search, the broker should be able to approximate the usable area of each unit, based on floor plans and on industry and landlord practices. As the search narrows, the calculation of loss factor will change, as your architect applies his or her own definition of usable area, and re-measures the units accordingly. (Sorry, there's no standard definition of "usable area" either.) The financial analyses will then be revised. You will then know precisely what the cost is for both the visible and the invisible square feet of each unit under consideration.
If you can't get what you pay for, at least know what you're paying for what you do get.
To make life even more interesting, loss factors vary from building to building, and sometimes from floor to floor. It might be 15% in a small prewar property, and 40% in a contemporary tower. The loss factor is never disclosed publicly, and can only be determined by measuring the space and comparing the usable and rentable square footages.
There are no universally accepted standards for establishing loss factors in office buildings. In 1969, the Real Estate Board of NY created guidelines, but they were ignored and eventually rescinded. A national organization, the Building Owners & Managers
As a result, rentable areas bear little relation to usable areas. Floors routinely "grow" overnight following the purchase of a property, a change in the landlord's agent, or the relocation of a major tenant. In researching space for a client recently, we found that a floor listed as 8,000 square feet had been listed as 6,400 square feet only five years ago. It had miraculously grown by 25%! In Manhattan, such discoveries are almost routine.
Rent is quoted in terms of rentable, not usable, area. So, if any two buildings offer space at the same $30 per rentable square foot, the rent per usable square foot will probably be different. If Building A's loss factor is 20%, for example, the rent is $37.50 per USF. If Building B's loss factor is 30%, the rent is $42.86 per USF. A building with a higher quoted rent, but a lower loss factor, can actually be less expensive than one with a lower quoted rent, but a higher loss factor.
What's a tenant to do?
Don't be put in the position of comparing apples to oranges. Before deciding among competing transactions, you must know the Cost per Usable Square Foot of each one. These calculations should be reflected in the financial analyses prepared by your broker.
In the early stages of the space search, the broker should be able to approximate the usable area of each unit, based on floor plans and on industry and landlord practices. As the search narrows, the calculation of loss factor will change, as your architect applies his or her own definition of usable area, and re-measures the units accordingly. (Sorry, there's no standard definition of "usable area" either.) The financial analyses will then be revised. You will then know precisely what the cost is for both the visible and the invisible square feet of each unit under consideration.
If you can't get what you pay for, at least know what you're paying for what you do get.
Tuesday
UNC Chapel Hill Launches Property Management to Protect Greenways
CHAPEL HILL -- The University of North Carolina at Chapel Hill will launch a new property management program for Carolina North next year to protect natural woods, improve trails and encourage recreational use.
"We intend to be excellent stewards of a piece of property with open spaces and natural areas that are important to the future of the university and the community," said Chancellor James Moeser. "The management plan is a proactive move to maintain and enhance areas of the tract that will not be used during the initial 50-year time horizon we envision for development at Carolina North."
Moeser said the management program would benefit local residents and further demonstrate the university's commitment to sustainability at Carolina North.
"We are proud of the strong record of responsible development and innovative environmentally friendly practices on the main campus," he said. "Our expectations for Carolina North are very high - it should be a model for environmental stewardship."
The university will commit an initial $427,000 - including more than $100,000 on an annual basis - to jump-start and sustain the program over the next two fiscal years. The university will hire two permanent and two temporary employees to manage the property daily. The team will help identify and post property lines, map hiking and biking trails, and install signs for trails, maps and information about how the public can use the property. The review of existing trails is expected to lead to decisions about which ones would need to be realigned, abandoned and then maintained in the resulting network.
Other plans include preserving an old mill area and adding picnic facilities, installing appropriate parking along roadsides and purchasing vehicles and equipment for the new staff.
The changes will help address some concerns that have surfaced in recent years because the property has not been actively managed, officials said. The university wants to continue encouraging use of the land by hikers, bikers and others, but in a way that will not harm the property or environment. For example, destructive practices that have occurred in the recent past include the use of motorized vehicles, unauthorized construction of new trails and creation of mountain bike jumps.
Other activities expected to be implemented as part of the new management efforts include insect and tree disease detection, selective tree replanting and cutting, fire control, and not allowing non-native invasive plants such as wisteria and privet to flourish.
Other possibilities under consideration include creating a related Web site, developing educational programs for interested groups or residents, including public school and university students, community members and visitors. In addition, the university plans to establish an advisory committee as a source of community-based information on various aspects of the management program.
University officials expect to hire the new employees to manage the Carolina North tract in 2007, enabling work on site to begin. No specific date has been set yet. They will report to the university's grounds services, which maintains beloved trees, flowers, shrubbery and green spaces on the main campus. They use best environmental practices endorsed in the campus master plan. Their work resulted in the university's selection for a 2005 Grand Award from the Professional Grounds Management Society's Green Star Awards competition, co-sponsored by Landscape Management magazine.
The grounds services staff also has been instrumental in helping develop and carry out recommendations from a task force Moeser created in 2003 to study the landscape heritage and plant diversity on the main campus in connection with construction and renovation projects included in the campus master plan.
The newly planned activity at Carolina North will also complement the university's successful efforts to improve community access to Battle Park, officials said. In 2004, at Moeser's request, the North Carolina Botanical Garden, which is part of the university, assumed responsibility for managing the wooded tract on the east side of campus and downhill from the Coker Arboretum. The park includes trails connecting with key resources such as the Chapel Hill Community Center and the stone amphitheater known as Forest Theatre at the edge of main campus. The changes, which have elicited positive community response, included major improvements to the trails, seating areas at key sites, as well as signage and maps.
The new property management program for Carolina North comes as one of the university's consultants, Biohabitats Inc., held two community meetings this week as part of the process of producing an ecological assessment to inform future planning on the university-owned property. The meetings were part of a series of workshops on technical topics that began earlier this fall to help guide the university's next steps in the planning at Carolina North.
At the same time, the Leadership Advisory Committee for Carolina North is providing community input to the formulation of planning principles that the university will use in the development of plans for submission to local governing bodies as part of the regulatory process. The report is due by March, and the committee is working to complete it sooner.
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