Property development and management is a multifaceted business that entails the many aspects of the construction and the leasing of the properties as well as selling them in the context of making it a business of a motive to earn a profit in the long run. The context that entails the renovation and even construction of new upcoming buildings and even re-lease them to the various tenants who operate in the business. The business which is termed as real estate development have a motive of improving the excising assets to increase its value in the context that seeks to paddle the business ahead. The real estate business is different from construction in the context that it seeks to employ the various activities that seeks to finance the deal in the context that the builders do the construction under a bond of a fixed cost.
In the above context of this building Situated on Moxon Street Car park in London. Which is a 5 storey building and has the furbished ground floor and first floor: and in the context of its construction it contains a commercial retail, which encompasses thirty stores and the definite dimension of 96 square meters each in flourished and attractive shopping arcade which is in the ultimate vicinity of the city central business district. On the clear description the second floor has 16 two bedrooms apartments, each measuring the dimensions of 94 square meters and furbished. The third floor has definite 12 tree bedrooms apartments, and of which each has dimensions of 125 square meters. And lastly the last ultimate peak of the building which has the fourth floor encompasses two penthouses, each of the definite well laid dimensions of 250 square meters. The convenient present of the building in the context that it is very near to the convenient business site associated with a larger population quotas, help in a bigger deal to alleviate the business activities that are to be partaken in the building and ion the final end becomes profitable in the context that seems to employ the usage of its presence in the central business district.
Under the above context for the client who is willing to sell the above properties or on the other context granting leases in the context of the new development projects, the owner should take a key step in the formation of the tentative rational decisions in the context regarding the process. This is by conducting a research on the key partners and the stakeholders and also seek to be guided by the operators in the business and the non-profit making organizations in the industry. In addition the landowner should v read and analyze the various reports and the articles produced by such organizations in the context of employing the various resources to curb the losses that are likely to b encountered in the crucial part of the business.
In addition to the speculations and the mission of the land and property owner one should get the necessary advice from the property managers and the community-based developers to get the way ahead in the developmental phase of one project. One should also explore how to appendage and in relation become accustomed to the building block of the conformist commercial leasing in order to better in that perspective slot in their own both social and the objectivity of the goals to achieve the realism of the whole project in the sense that is profitable both to the owner and the leased or buyer of the property.
The commercial leasing process is a practice that is influenced with the variable ultimately influential capacity in the arena in a context that seems to look like and admired in the social outcomes in the context achieved. This is because the social objectives and the views of the many people in the market does have a strong influence in the context employed in the leasing and management of the property overtime. Under this context which seek to view the needs of the tenants who are to be entrusted with the duty of taking care and ultimately use the property in of the real estate to be leased. This is to ensure that it is both socially and economically compatible with their needs.
In the context of the leasing capacity of the owner or even the landowner, they have to be clear with commercial leasing practices as they a re the key in the context of leasing and serves as the strong link between the real estate development and the and the property management functions. This is because a better understanding of the commercial leasing strategies and the tenants and buyers of the property needs will help a great deal alleviate the context of the property developers and even the owners, how to effectively manage and at the same time comfortably balancing the social needs and goals as well as the financial expectations of the owners, this will ultimately help to curb the circumstances whereby the tenants are subjected to qualms and inconveniences as far as the concept of leasing and buying the specified properties is concerned.
In this context the owner of the assets and the land wherewithal that are to be furbished and sold should have a clear mission and well defined in the context that seeks to curb the inconveniences that do arise in the course of the business. This is in the relationship that one should not generalize the processes and the objectives of the social class in the arena concerned. This goes hand in hand with the context of understanding the various stipulated leasing practices that are aimed at improving the welfare of the leasing practices to avoid loses that may arise due top the above practices. The owner should also understand the critical and crucial laws and principles governing the real estate industry and well digest them in the context that will help one avoid the context of manipulating or being manipulated in the process of leasing the specified land or houses.
In the context employed where the property owner is willing to sell the property one has to understand the principles encompassing the sell of the land or houses resources in the context that both parties will benefit and earn the most convenient profit from the specified transaction partaken in that order. One also has to understand the correct and credible credit owners who give the funds in the most convenient time and without delay. One should also become clear with the law jurisdictions that govern the real estate business. This is to avoid hitches in the legal arena and one being involved in the illegal transactions that can lead to be termed, as an offence answerable in within in the legal framework in the court of law.
Concerning the concept of the head of terms in the context of the commercial operational leases, the freeholder of the project should be in a better position to understand the context and the terms employed in the allocation of the leasing capacity as well as the commercial and the residential tenants are concerned. In concepts regarding this the commercial agents in the terms of renting the various facilities including houses , they are not only successful but also should be financially stable. The financial sustainability and the accrued additional social wellbeing and good humble terms with the local neighborhood also serves a great deal in ensuring that the mission of renting and also leasing away of the property is successful.
The freeholder should corporate with the manager to ensure that the social objectives and the commercial leasing practices are achieved in the long run. To achieve this co-existing cooperation should aim at maintaining the good welfare of the communality stakeholders and the developmental corporations. When the commercial leasing strategies are implemented they will aim at supporting the larger goals of the neighborhood. This will aim at improving the economic and the general development and the wellbeing of the people in the surrounding neighborhood. They should also view the viable bottom line in the context that balances the equitability of the allocation of the resources for lease to avoid a scenario that leads to the exploitation of one of the parties.
The “statute of frauds” in most of the countries clearly stipulates the concern that any leases within more than one year of the lessor and the lessee should engage in writing and this will help in the protecting each of the party’s terms and conditions that are applicable in the agreement. This will also help a great deal in the maintenance of the connection that the contract really exists.
The code of practice called “Uniform Residential Landlord and Tenant Act” is the act employed to protect tenants to a larger extent in the context that helps in the compensation of for the various activities that seems not friendly to the tenant. This will help the landowner or the tenant to proportionately know the part and size of the residential area to sell and lease or retain the other part for renting. For the case of this building Situated on Moxon Street Car park in London the owner should look and keenly evaluate the viability and the asset then keenly observe what to do. The part that seems not to be viable to the owner should be sold off to back up the part of the apartment that is economically stable and profitable in the running of the business entity.
The code of practice which was the second edition of the commercial leases in the England and the Wales was launched in the April 2002. The code of practice was employed at recommending the negations of new business leases and the parties for the duration of the life span of such leases. The code does set the ten recommendations in the context of perception in different business entities. Of them all the first three focus on the context that the parties should negotiate openly and in a constructively professional manner in the context, that focus on the context leads to their financial costs and occupation and the respective financial standing concerning the business focused.
The market trends in the leasing industry focus on the various available factors that provide the accommodation on terms that do not restraint the occupier’s aptitude to act in response to the altering commerce state of affairs. The lease involves two aspects that is the general trend in the changing market of the different forms lease and secondly it views to the individual’s tenant to actually obtain the lease that actually does meet ones particular requirements.
The services that the scheme needs are the maintenance of the car parking and expansion of the same to accommodate the number of vehicles that have to visit the business arcade. Landscaping and window cleaning should also be done in the business complex and the landlord should cater for the same with the value of the fair view of the affairs in the context that the place is always maintained.
References
Sandi Murdoch, Crosby, Cathy Hughes (2005) Monitoring the 2002 Code of Practice for Commercial leases, London
Frej, Anne B & Peiser, Richard B. (2003) Professional Real Estate Development, Second Edition: The ULI Guide to the Business.
Rachelle Garbarine (March 3, 2000). "Residential Real Estate; A Luxury Condo Project on Fifth Avenue Is Attracting Buyers
Karen Chapple, Michael Smith-Heimer and Joshua Simon (2003) a report on community development corporations: commercial leasing strategies and social objectives.
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