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02
Feb

Commercial real estate portfolios are sources of passive income, but these properties require active administration by professionals, which would include those with expertise in Chattanooga property management. Financially, well-managed properties perform better. Logistically, these commercial properties maintain, if not enhance, their value through the years, ensuring better yield as income-generating assets while growing equity at the same time.

Commercial Property Management and Asset Management

Real estate and investment strategies are evolving. I am not surprised to see that the lines between property management and asset management have blurred perceptibly. The reality is effective commercial property management is an asset management strategy with a significant impact on the bottom line.

Role of Commercial Property Management Services

The core responsibility of commercial property managers revolves around day-to-day operations of one property or a portfolio of properties in a market or an entire region. Chattanooga Tennessee property management tasks include:

Leasing: Property managers meet with prospective tenants to present the site while evaluating the suitability of their business and their credit grade. In smaller markets such as Chattanooga, leasing tasks may include marketing, negotiating and evaluating current leases.

Tenant Relations: Property managers provide front-line services, including addressing maintenance problems and ensuring compliance with lease agreements.

Maintenance: Deferred maintenance costs more money when the problem becomes difficult to manage, so a proactive approach to Chattanooga Tennessee property management can save you real dollars.

Compliance: Inadvertent or not, code violations can lead to hefty fines and loss of prestige for property owners. These problems are preventable with the right Chattanooga property management company looking after your investment.

Records Maintenance: Accurate, accessible and timely records are necessary to assess the state of your investment property and the growth of your real estate portfolio.

Benefits of Using Professional Chattanooga TN Property Management Services

One of the more common questions I am asked has to do with the do-it-yourself approach to property management. This is a fair question considering that Chattanooga property management by professionals is a cost center. However, it is difficult to foresee the commitment required and the time-intensive nature of property management without being immersed in the process.

Savings through Economies of Scale: Property management service companies can leverage their size and business connections to negotiate better prices for subcontracted services such as lawn and building maintenance. Reputable property managers can demand higher standards and quicker response from vendors, which could reduce expenses.

Improving Yield through Strategic Planning: Chattanooga property management professionals will work with principals to ensure that the commercial complex is appropriately positioned given current market trends. As the Chattanooga market changes, the property manager must help to ensure that your assets can be repositioned to remain competitive and productive.

Deploying Professional Expertise: Chattanooga property management companies must have field expertise and in-depth knowledge of the local and regional markets, and be able to deploy these competencies to provide growth and maintenance solutions to ensure profitability of your commercial real estate assets.

Managing Vendor Relations: Ensuring that a commercial property remains at optimum conditions requires concerted effort by vendors and property management services. Your Chattanooga property management firm should become the single point of contact for these service providers, managing schedules, goals and expenses. This means that principals are insulated from these basic headaches and free to focus on other business.

How to Find the Right Property Management Firm

Effective property management of commercial real estate is a collaboration between principals and property management professionals. It is important to find a suitable fit for your commercial asset as well as your business goals.

One approach is to start by looking at well-managed Chattanooga properties. More than likely, there will be a professional firm directing property management for this site.

An alternate approach is to ask for referrals from trusted colleagues, professional associations and even tenants.

Whatever you decide to do, please remember that effective Chattanooga property management could mean the difference between breaking even on your real estate investments or breaking out of the humdrum returns that your commercial properties may have yielded in the past.

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951

22
Jan

This is an excellent article written by Mike Pare at the Chattanooga Times Free Press. I feel that it is very significant article and worthy of passing along to you because it paints a very clear picture of the growth in Chattanooga air travel. And, this growth in air travel is a solid indicator of the vibrancy of the overall Chattanooga market.
— Joe

[Chattanooga Times Free Press, Chattanooga, TN, January 21, 2015] A large ballooned arch in the Chattanooga Airport lobby topped with a number — 352,459 — greeted Lovell Field travelers on Tuesday.

That’s the new annual passenger boarding record at the airport set in 2014, shattering the old high mark of 21 years ago of 311,204. Chattanooga Airport boardings climbed 14 percent last year over 2013, figures show.

Airport officials are hopeful of an even bigger number in 2015 with scheduled airline departures out of Chattanooga slated to rise 13 percent over 2014. The number of available airline seats is to climb 14.5 percent this year, they said.

“The airlines are noticing our growth,” said Terry Hart, the airport’s president.

Lovell Field officials credit the rise in customers to convenience, more competitive fares, larger aircraft in the market, and stronger economic development in the region.

“These are phenomenal numbers,” Dan Jacobson, the Airport Authority’s chairman, said during a board meeting Tuesday. “Let’s do this again this year.”

Hart said fliers are seeing Chattanooga Airport as an option to other bigger airports such as in Atlanta, Nashville and Birmingham.

Airport officials cite the $7.2 million passenger terminal renovation completed last year, which included upgraded concessions and WiFi service. More mainline jets from Delta Air Lines, the busiest carrier at Lovell Field, also helped attract more commuters to fly from Chattanooga rather than drive to other airports.

For many years, Lovell Field officials have seen other airports lure local travelers with better service and lower fares.

“People are recognizing Chattanooga Airport as an alternative and choosing to get on board,” Hart said. “This is a huge milestone.”

Jacobson said the improving economy and appeal of the Scenic City also is increasing air traffic.

“Our city’s focus on technology, the Volkswagen expansion and the annual Ironman triathlon are just a few of the developments drawing new people to Chattanooga regularly and many of those people are using the Chattanooga Airport,” he said.

Looking to 2015, Hart said the airport’s parking lot Tuesday was close to full, which is extraordinary for a January.

In addition to Delta’s larger jets, airport officials expect American Eagle to begin flying bigger aircraft into the city.

Hart said he continues to talk with airlines about bringing other new service to Chattanooga. Already, officials have identified the New York City area and Houston as targets for potential new nonstop flights.

Hart said the 14 percent gain in 2014 passenger boardings will turn out much stronger than at other airports.

For example, Nashville International Airport’s traffic rose 6.6 percent in 2014, though it set a new record.

Hartsfield Jackson Atlanta International Airport’s boardings through November, the most recent month available, was up 4.2 percent for domestic traffic.

Orlando International Airport’s gain in boardings was 7.5 percent in domestic passengers through most of November 2013 compared to the same period in 2013.

Contact Mike Pare at mpare@timesfreepress.com or 423-757-6318.

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

15
Jan

At the present time relatively few U.S real estate markets are hotter than the Chattanooga real estate market.

Over the course of the past few years the numbers of building permits, real estate closings, and new listings throughout this city have all increased from year to year.

Why is Chattanooga Real Estate So Desirable?

Improved economic conditions, in particular, the falling unemployment number, are partly responsible for the recent boom in Chattanooga real estate. Of course, these sales are also being driven by the many benefits that the Chattanooga lifestyle offers.

Indeed, Chattanooga is a lovely place in which to live and work. Home to more than 528,000 people, this city in southeastern Tennessee features fine restaurants, upscale shops, museums, and first-class performing arts venues. Many of its public and private schools are renowned for their excellence as well.

Natural Beauty and Ease of Living

People who live in Chattanooga can delight in nature’s wonders at any time; the city’s official nickname isn’t “Scenic City” for nothing. It’s nestled amid the Appalachian Mountains, the Tennessee River, and two stunning lakes: Chickamauga and Nickajack.

Positioned in and around Chattanooga are spectacular caves, hiking trails, parks, arboretums, waterfalls, and ideal spots for canoeing and kayaking. It’s a terrific city for couples as well, a place where you and your significant other could regularly enjoy romantic river cruises and strolls by the lake.

Chattanooga real estate is especially sought-after due to the quality of life that the city provides. For instance, getting around this metropolis is surprisingly convenient. Parking spaces tend to be plentiful, and the public transportation options ― including an innovative electric shuttle service ― are reliable.

You can also take advantage of an extensive bicycle-sharing program, one that incorporates about 300 bikes. In addition, it’s a great city for walking. Many of its wide, attractive streets appear to have been tailor-made for pedestrians, and the city’s extensive River Walk is popular with people of all ages.

Statistics Tell the Story

Given all of the benefits described above, it is understandable that the current Chattanooga real estate statistics are so impressive. For example, as of December 2014, the average listing price for a home was slightly more than $226,000, and the median home price stands at a healthy $143,000.

And, to put those figures into perspective, the median sales price for a Chattanooga home was 6.9 percent higher in December 2014 than it was in December 2013. What’s more, the average price of a Chattanooga residence in December 2014 amounted to $114 for every square foot, a number that was 7.5 percent higher than it had been 12 months earlier.

Commercial Property in the Scenic City

If launching a small business or finding a new job is of primary concern to you, know that Chattanooga is home to a wide variety of industries and commercial establishments, including three major hospital systems, numerous manufacturers, and several energy companies.

Furthermore, tourism is hugely important to the city’s economy. Chattanooga is among the most popular places for vacationers in the Southeastern United States, and it offers its visitors many exciting attractions and beautiful hotels.

Commercial real estate throughout this city is therefore thriving. In fact, starting in 2012, the commercial real estate sector has been experiencing record growth in various parts of Tennessee, and Chattanooga is one of them. Today, offices, industrial parks, retail spaces, warehouses, and other buildings for doing business and making products are in demand.

Why Not Give Chattanooga a Look?

In short, considering the high demand and the range of options that are obtainable, Chattanooga real estate represents a uniquely robust investment opportunity, one that could ultimately lead to prosperity and happiness!

Follow this link for more information about the Chattanooga real estate market at Wikipedia.com.

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

03
Nov

Hi, this is Joe Pleva with a message for those people who are considering selling their home at some point in the not-too-distant future.

The title of the video is , “Things to Consider When Selling Your Home,” and it offers some useful information regarding things that you consider about the pros and cons of making improvements to your home. This video was produced by an Arizona realtor. However, the concepts she discusses are valid virtually anywhere in the country.

Here’s a more detailed description of the video’s content:

Putting your home on the market is just like meeting someone for the first time. You want to make a great impression and that starts with the curb appeal of your home –especially the front door and entrance. This is the first thing a potential home buyer really sets his eyes on when approaching your home. Its appearance will set the tone and expectations of the buyer. The best thing to do when planning to sell your home is to look at it with a buyer’s eyes. Walk around and make a complete list of the little things that need repairing, painting or replacing as well as those items that might need updating. Don’t forget to go outside too. A good idea would be to have an experienced REALTOR walk through the house with you. They will be able to make recommendations that will help you get the best price for your house.

 

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

03
Nov

Hi. This is Joe Pleva once again and if you haven’t watched it yet, I recently posted a terrific video titled, I highly recommend you watch it if you are a commercial real estate investor.

However, after I posted the Warren Buffett video I realized that many people may want a little different commercial real estate insight — perhaps from someone other than one of the world’s richest men.

Therefore, I’ve posted another video that you might find useful.

The title of the video is, “Commercial Real Estate Investing for Dummies,” and it is slightly more than 10-minutes in length and features Peter Harris of CommercialPropertyAdvisors.com.

Peter is the co-author of Commercial Real Estate Investing for Dummies and he is a sought after speaker on this subject.

I think you’ll find this video very informative:

 

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

13
Aug

Industrial Building, Workman Rd, Chattanooga TNCurrent B&F Auto facility. The building is 2-story with over 40,000SF. Building has 5 drive-in doors, several offices, kitchen, freight elevator. Site is located adjacent to the railroad that provides service through south Chattanooga for various industrial sites. There is a new LKQ facility that will be in operation in late 2014 that is directly across the street from this site. It will provide new and after market auto parts to the entire greater Chattanooga area. There is all the former Bunge site that is being reused to produce various products. The city is reclaiming nearby property for a new city park. This site could accommodate a variety of industrial or warehousing businesses.

 

Contact Information

Joe Pleva, Director
Keller Williams®
202 Manufacturers Road
Chattanooga, TN 37405

Mobile: 423-667-6204
Office: 423-664-1550
Fax: 423-826-4951
Email: Joe@yourrealtysolutionsteam.com

Learn why Joe Pleva is a top-performing realtor. Click here to watch a short video.

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