Home: Authors: Patrick Oconnor

Status: Member since January 22, 2009
Location: United States of America
Articles: 76 Active Articles, resulting in 10965 views
Feedback: 0 comments on these 76 articles

Patrick C. O'Connor has been president of O'Connor & Associates since 1983 and is a recipient of the prestigious MAI designation from the Appraisal Institute. He is also an registered senior property tax consultant in the state of Texas and has written numerous articles in state and national publications on reducing property taxes. He continues to set the standard in direction and quality of our appraisal products, adding services ranging from business valuations and business appraisals to cost segregation analysis for income tax reduction.

Renovating and upgrading an investment property acquisition is a source of both opportunity and risk. When a property has deferred maintenance, the cost of curing the deferred maintenance can be difficult to estimate without obtaining bids from contractors.
Market rent analysis evaluate the subject property, competing properties, and market conditions to document an equitable level of rent in an arm’s length transaction. Estimates of market rent are developed regularly for market studies, appraisals, lease disputes, and to provide an owner or prospective investor with objective opinions.
Tenants are generally provided time to prepare the office space for occupancy prior to the date when they must begin paying rent. However, in hot markets and for some very desirable properties or spaces, landlords will be able to require that tenants pay for office space beginning at the time the lease is executed.
Most apartment residents do not read the lease. However, they get very upset when the landlord points out details contained within the lease. The lease is a legal document. You should read it.
Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account.
The landlord is usually willing to fund tenant improvement expenditures provided he is confident the tenant has the financial capacity to pay rent for the term of the lease.
The next step is to visit the office space in buildings that appear to be a good fit. Reflect upon the criteria you initially establish and any issues that may have since surfaced. Take detailed notes while visiting each of the buildings.
Think of searching for apartment like dumping thousands of apartment complexes into a funnel to narrow the selection to just one apartment. You'll only lease one apartment.
Define the building quality, price per square foot and total monthly budget for office space. The office space broker will advise you if your expectations are on realistic.
Taxes are your enemy, but tax deductions are your friends. Taxes are the great bane of most businesses. Alas, business deductions act as a salve to cool the burning and itching of your bank account.
>