Real Estate
Leasing Basics: Tips to Help Landlords Maximize Lease Revenue
With the COVID-19 pandemic throwing a wrench into both the commercial and residential real estate markets, controlling what you can is important. Many states and municipalities have enacted lease-eviction moratoriums, some lasting through the summer. This restricts lessors from filing eviction actions for nonpayment of rent as well as assessing related fees and penalties. As…
Read MoreProperty Valuations in Uncertain Times
Valuation plays a critical role in real estate, from appraisals for residential mortgages to the sales of commercial real estate. But the COVID-19 crisis and resulting economic uncertainty pose some challenges for valuation experts across the country. Limited physical access Site visits have long been an integral part of the valuation process, but stay-at-home orders…
Read MoreIs Your Pandemic or Civil Unrest Business Interruption Covered by Insurance?
Like almost every other industry, real estate has suffered some losses due to COVID-19 and social-unrest-related closures. The good news is that your business may have coverage under the business interruption (BI) provision in your property insurance policy. The bad news is that insurers are likely to put up a fight. Coverage basics BI coverage…
Read More4 Ways the Coronavirus is Changing Commercial Real Estate
COVID-19 has upended the world, and commercial real estate hasn’t been immune from the effects. As offices, hotels, restaurants and many retail stores and malls sat empty — and activity in warehouses escalated in response to the surge in e-commerce — COVID-19 has radically altered the industry’s long-term expectations. Here are some significant effects that…
Read MoreIf You’re Selling Your Home, Don’t Forget about Taxes
Traditionally, spring and summer are popular times for selling a home. Unfortunately, the COVID-19 crisis has resulted in a slowdown in sales. The National Association of Realtors (NAR) reports that existing home sales in April decreased year-over-year, 17.2% from a year ago. One bit of good news is that home prices are up. The median…
Read MoreBusinesses Can Now Enjoy Faster Depreciation of Real Estate Qualified Improvement Property
A technical correction in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, signed into law in late March, retroactively allows real property owners to depreciate qualified improvement property (QIP) faster than before. The change could lower your tax bill for 2018 and beyond. Drafting error Under 2017’s Tax Cuts and Jobs Act (TCJA), QIP…
Read MoreCongress Resurrects Energy-Efficient Tax Breaks
The massive federal spending bill enacted in late 2019 renews a potentially valuable energy-efficiency tax credit and a deduction that had expired at the end of 2017. The renewal is retroactive to 2018, so, if you qualified for the credit or deduction for that year, consider whether it’s worthwhile to file an amended tax return.…
Read MoreIs Adaptive Reuse Right for You?
Mark Twain once advised, “Buy land — they’re not making it anymore.” That’s not true about buildings, but owners, developers and investors nonetheless can see impressive profits by buying existing buildings for repurposing instead of starting from scratch. Such “adaptive reuse” is rapidly gaining ground, but you need to weigh some factors before taking the…
Read MoreStaying on Top of Preventive Maintenance
Performing routine building inspections and maintenance on a regular basis can help you avoid unnecessary headaches. Setting a consistent, ongoing schedule is the first step. Track “inventory” Create and maintain an “inventory” that describes each building component fully. This should include the manufacturer, location within the property, details about purchase and existing warranties, and, if…
Read MoreCost Segregation Studies Post-TCJA
Make the most of bonus depreciation For years, larger businesses have relied on cost segregation studies to accelerate their depreciation deductions and, as a result, reduce taxes and boost cash flows. Others may have thought the studies not worth the expense, especially for properties with a smaller tax basis. The Tax Cuts and Jobs Act…
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