Archive for October, 2011
Oct
31
Benefits of Commercial Mortgage
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Whether it is about small to big projects which requires small scale finance or 100% development finance, the development finance UK can provide you funds to make your venture successful. This is true not just for the needed residential development finance but also for commercial development finance. However, not all businesses will need 100% development finance in acquiring commercial property or any funding for commercial property development. Arrangements are usually dependent on the type of industry, the purpose of funding, and the capability of the investor to support the finance.
Commercial mortgage is one tool that can be arranged from development finance UK. When it comes to keeping a business going in the right direction or establishing new business ventures, commercial mortgages are extremely useful ways of generating equity to ensure continued success in your the kind of business you’re in. There are many benefits in using commercial mortgages. One is that it can raise money for working capital or an injection of cash flow. Another is that it offers the opportunity to consolidate expensive short term finance. Commercial mortgages can also increase profitability through refurbishments, improving or expanding a business property. The repayments for commercial mortgages may be similar to rental repayments therefore it not necessary to budget additional property expenditure or any increase in rent. And lastly, but not the least, the interest on business mortgages is generally tax deductible.
Knowing these benefits, commercial mortgages may be the right option for your property acquisition especially if you are just starting out in your business venture. And instead of renting from commercial properties, dealing with brokers for development finance UK will go you options to get affordable mortgage arrangement.
Quick Property Sale
Oct
30
Commercial Lease – What happens when a named party on the lease dies?
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The lease is commercial. The name on the lease is that of a partner of the company that has died. The company name is not on the lease. Is the lease still valid/enforcable?
Any help is appreciated.
Sell and Rent Back
Oct
29
I am researching the topic for a project at school. I thought with the dawning of the computer age, repayment of the loan would be feasible via the internet. But is the process legal? And would any Japanese bank agree to it?
Quick House Sale
Oct
28
International Property Markets With Major Architectures to Invest On!
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To sum up buying international property will always be a good long-term investment property plan. For the best realestate, investment bargains and the widest choice do not restrict you to local realtors: go national with a property auction. I will suggest you to opt two property types if you’re an inexperienced property investor. International Property market in Dubai is reaching sky-high levels rapidly. The property overseas business in Dubai is surging ahead sharply.
Dubai has become an international property hub, with ultimate architectural developments and ambitious projects rising up seemingly overnight. Realestate investment and property purchase market has nowadays one of the best growth prices that are the reason it is considered to offers low risk and lofty rewards. International property agencies says that it is among one of the best investment plan for people who have retired or still earning and looking out for an option to safeguard there money. The property purchase prices are comparatively lesser and therefore such property purchase can be a good deal.
Buying a property overseas is a major step of investment plan. Buying property is a task to research all aspects of a potential property investment plan and deal only with reputable realestate investment online experts since there is no professional property purchase process in international property markets! International property investors can sell property or rent out the property if they want so. Realestate investment is high, with a great demand for short-term rentals and yields around 15%.
International Property marketplace has arrange worldwide property sales, especially from the corporate sector, has provided us with utmost confidence to continuously grow the scope and features of our events. If you didn’t want to sell realestate when you become old, you can also pass the properties on as inheritance if specific process is followed. International property owners of property overseas can also entitles the first named property builder to a 3-year renewable residence visa.
International property in developed countries doesn’t apply taxes on income, including that obtained from renting property purchased. Realestate purchase for the property sale has been a proven method to increase profits though not property investors can afford to invest large some in the ready to live houses
Quick House Sale
Oct
27
Looking to lease a small reasonably priced building in Cali. for a hair shop?
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I’m trying to start my own business. I’m in search of a small building that will not cost a fourtune to lease.
Sell and Rent Back
Oct
26
Who pays for major building improvements under commercial lease?
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We operate in NJ where we are currently leasing a space for a store. We are in need of more power at the location which requires a major investment to be made into upgrading electrical infrastructure in the building. Our lease expires in less than a year and I think it’s the landord’s responsibility to cover the cost of such improvement since it’s his property and it would be a permament improvement to his property from which next tenant would benefit if he or us don’t renew the lease. Am I right in my thinking? Is there a law which I can use to pursuade him that it is his responsibility to pay for it?
Thank you.
Quick Property Sale
Oct
25
UK Hotel Commercial Property Market Experiences Further Decline
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Falling hotel occupancy levels and room rates mean that there is less income for hotel investors, many of which have financed these commercial properties through high levels of borrowed debt. As a reaction to the adverse market conditions many hotels are now offering rooms at highly discounted rates. The three and four star hotel market has been hit especially hard and they have had to heavily discount their room rates in order to remain competitive. Holiday Inn / Holiday Express have implemented a credit crunch action plan which includes lowering their rates to around £21 pp in the UK, increased promotions and marketing to their customers and target audience, and asking suppliers for either better terms or lower costs so that they can continue to remain competitive within the hotel commercial property industry.
Budget hotels are not completely recession proof either and companies such as Travelodge have experienced a fall in business stays and leisure at the weekends. However, despite these slight declines they are taking full advantage of the credit crunch’s effects on the commercial property market and have purchased several great value real estate deals that before the recession would have been unavailable to them.
Budget hotel chain Jury’s Inn are also taking full advantage of the increasing demand for budget hotel accommodation that has been created by the recession and are spending £90 million on opening four new hotels across England and Scotland. They are developing hotels in Portsmouth, Bradford, Newcastle and Glasgow as part of their plan for accelerated growth. They are hoping to take full advantage of the trend for business users and British tourists to stay in cheaper hotels and have also secured several lucrative commercial property deals that before the credit crunch simply were not feasible or available to them.
Despite the overall economic downward trend in the UK there have been nationwide sales increases for budget and cut cost retailers and service providers, whether they provide food, clothing or leisure breaks. The UK consumer products and commercial market is becoming increasingly buyer led. Consumers are finding that there are great offers available to them either through heavy discounting of high end brands or through taking full advantage of budget products and services that are also offering promotional pricing and offer based marketing to their customers. Travelodge and Jury’s Inn are taking full advantage of this trend and are setting themselves up for long-term growth with new commercial properties and increased customers.
Despite the overall decline in the UK hotel market cash rich buyers will find that over the next couple of years there will be some great hotel commercial property investment opportunities available to them.
Repossession
Oct
24
Erin Booher Named Sales Associate at Mirabella
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ORLANDO, Fla. (June 6, 2007) – MCZ/Centrum Development announced Erin Booher as sales associate for Mirabella Condos, a 304-unit gated community converted into luxury condominiums at 19927 Villa Square Dr. in Orlando.
Prior to joining Mirabella, Booher served as sales manager for Oxford Square Condominiums and was a sales agent at Audobon Villas at Hunter’s Creek in Orlando. Additionally, she was a real estate sales associate in Nashville, TN and sales manager for Hilton Hotels Corporation in Chicago, IL. A graduate of Michigan State University, Booher is currently studying Spanish at an Orlando language school.
The 18-acre, Tuscan-inspired Mirabella is comprised of elegant three-story buildings set against a backdrop of lush greenery. The community was built in 2002 and the developers recently completed a $1.2 million renovation that includes a remodeled clubhouse and upgrades to residential buildings, individual units and landscaping.
Well-appointed units range in size from 745 to 1,469 square feet. One, two and three-bedroom layouts offer attached and detached garages. Prices range from the $180s to the low $300s. Closings have begun and residents have been moving into their new homes since January.
Private villa entrances, gourmet kitchens, Roman style tubs, ceiling fans and nine-foot ceilings with crown molding are among the features. Each unit also comes with an intrusion alarm, washer/dryer connections and cable/Internet wiring.
Amenities include a resort-style swimming pool and sundeck, state-of-the-art fitness center, clubhouse, business center with high-speed Internet access, sand volleyball court, picnic areas, car wash area and indoor and outdoor playgrounds.
The convenient location puts residents catty-cornered to Gaylord Palms Convention Center and on the edge of a Disney property. For Disney employees, it offers an easy, traffic-free, tourist-free commute to work. Mirabella is less than five minutes from the convention center and theme parks, and offers easy access to I-4, 417 and Osceola Parkway.
Repossession
Oct
23
North Cyprus Property and Real Estate Guide to Taxes
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There are four main taxes involved in any property sale and purchase transaction These taxes are:
* The transfer fee which is payable to Land Registry Office
* The capital gains tax which is payable to the Tax Office
* The VAT (KDV) which is payable to the Tax Office or to the vendor
* The Stamp Duty which is payable to the Tax Office
Different taxes apply to gifts of property for no consideration and transfers of property between family members.
As a general rule, capital gains tax is payable by the vendor and the transfer fee and Stamp Duty is payable by the purchaser, although this can always be varied by the parties by an express clause in the Contract of Sale.
The payment of VAT depends on two factors:
* Whether or not the transaction is subject to VAT. This depends on whether the vendor is deemed by the Tax Office to be a “professional vendor” (i.e. whether the transaction is of a commercial nature or for profit). If the vendor is deemed to be a professional vendor, the transaction will be subject to VAT. If the vendor is a private individual, the transaction will not be subject to VAT.
* Terms of the Contract of Sale. If the transaction is subject to VAT, who will actually pay the VAT depends on the terms of the Contract of Sale i.e. whether or not the sale price is stated to be inclusive or exclusive of VAT.
Taxes are generally paid on transfer of title. The percentages listed below are calculated as follows: the Transfer Fee is generally paid as a percentage of the assessed value of the property which is carried out just before transfer of title takes place. The Land Registry assesses the property in the state it is in at the date of the assessment i.e. if there is a new construction on the property, this will be included in the assessment of the value of the property. The VAT, Capital Gains and the Stamp Duty are based on either the assessed value or the contract value, whichever is the highest. Under new regulations, the Tax Office now requires a copy of the contract of sale to be presented to it prior to transfer of title.
The percentages levied for each of the three types of tax are shown below:
* TRANSFER FEE – The transfer fee is 6%. However, every person has a once in a lifetime option to reduce this to 3%. If a purchaser elects to use this option on the purchase, he or she will only pay 3%. Once this option right has been used, the transfer fee payable on all future purchases by that person will be 6%.
* VAT FOR PROPERTY TRANSACTIONS – 5% of either the assessed value or the sale price. Please note that some vendors require the VAT to be paid on the actual sale value of the property as stated in the Contract of Sale on the date that possession of the property is delivered to the purchaser. You should check the terms of your contract of sale on this point.
* CAPITAL GAINS TAX – As stated above, this is usally paid by the Vendor. The amount payable depends on whether the vendor is a professional vendor a private individual as defined under VAT above. If the vendor is a professional vendor, the rate will be 6.25%. Otherwise, the rate will be 3.5%
* STAMP DUTY – This is 0.5% of the contract price provided this is paid within 1 month of the date of the contract. If it is not paid within this time, the rate increases in stages until after 6 months it becomes 1.5%.
FREQUENTLY ASKED QUESTIONS
Vat For Property Transactions
Will I have to pay VAT on my property purchase?
In determining whether you will be liable to pay VAT on your property purchase, you need to establish the following:
* Whether the vendor is a professional vendor as defined above.
* Whether your contract requires you to pay the VAT.
Where the contract does not expressly mention VAT, it is our opinion that the purchase price shall be deemed to be inclusive of VAT.
CAPITAL GAINS TAX
Will I have to pay Capital Gains Tax on my purchase?
Generally, no. Capital Gains Tax is usually paid by the Vendor, unless otherwise stipulated in your contract.
Will I have to pay Capital Gains Tax on the sale of my property? If so, how much will this be?
This depends on whether you are a private individual or a professional vendor (as defined above):
Every private individual has a once in a lifetime tax free sale option (for a house and land not exceeding approximately 1 donum). If you use this use this option, you will not be liable to Capital Gains Tax on that sale. On all subsequent sales, Capital Gains Tax will be payable at 3.5%, provided you do not sell more than 3 properties in one year, making you a professional vendor.
For professional vendors, there are no tax exemption rights. Capital Gains Tax is payable on every sale at a rate of 6.25%.
What if I sell my property before taking title? Will I still have to pay Capital Gains Tax?
Capital Gains Tax is not payable if you sell the property before taking title by doing an assignment of contract.
Quick Property Sale
Oct
22
Six months ago a lease I had with a tenant expired. It was for a commercial piece of property. I have only recently had the time to go through the property, and I found some pieces of equipment that would be fairly valuable. I believe they were left on the property intentionally. Can I keep them? Or do I still – after at least 6 months – have to see if the tenant wants them back?
Quick House Sale
