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Tips to get your home ready for a showing

by Kijner & Sons International Realty

Making some small improvements to your home prior to showing it to potential buyers can give a great first impression and could make a difference on how quickly you get an offer and how much you may obtain from the sale of your property. Here are 4 tips to get your home ready for your next showing:

Curb appeal

Does the outside of the home makes the prospective buyer want to see the inside? Make your home more inviting with:
- a well-kept lawn
- an inviting porch
- a clean driveway
- flower pots on the backyard
- touch-up on the exterior paints
- a clean roof
- clean trash bins
- a fresh coat of paint for the front door
- clean windows

Simplify

What about a deep cleaning of the interior by hiring a cleaning crew if necessary?
- Beds should be made
- Remove extra furniture and nick-knacks
- Get rid of clutter, old magazines, toys, etc.
- Add new side-cushions to the sofa
- Make room in closets to give the appearance of a more spacious storage area
- Make sure all light bulbs work
- Display new towels, shower curtains and soap in bathroom and kitchen
- Remove excessive personal photos
- Remove small appliances from kitchen counters
- Declutter and clear the garage

Update

New coat of paint inside may increase the value. You may consider replacing non- working items.
- Replace non-working appliances
- Get new hardware on the kitchen cabinets
- Get new kitchen sink faucet
- Have a professional cleaning of carpets or tiled floors

Foresee

It is likely the buyer will have inspections done. Avoid surprises and complications. Know the condition and the repairs that would be essential to the home and use them on the negotiations. Be honest and upfront.

Looking to buy a new home or investment property in Miami, Florida, contact us today at info@kijner.com or visit www.miamihouseforsale.net

--

* Tips courtesy of Mrs. Terry Alvarez, Broker at Fortune International Realty in Miami Florida
** KSI Realty's team members (Daniel, Laura and Marc Kijner) are all licensed 
Realtors® in Florida and real estate agents with Fortune International Realty in Miami, Florida

5 pros to buying pre-construction

by Kijner & Sons International Realty

If you have ever wondered between buying a resell property versus a brand new pre-construction unit, here are 5 pros to the latter:

1. Buyers will have ample time to come up with the purchase price. Instead of having to pay all of the required purchase price at once to close, buyers can spread out the deposits, and save for the balance to close usually for the term of 2 years or longer.

2. Buyers will be part, along with all other new buyers/neighbors, of making the history for this brand new community. There will be more flexibility in implementing the rules and customs for that particular community. When buying a condominium, a buyer may contribute in forming the Homeowners Association and participating on the forming of the Board.

3. The property, as well as the common areas, will be all brand new and sparkling. Life expectancy for all appliances and equipment will be longer and usually, cost for repair and replacement of appliances are less for the first 5 years.

4. Buyers get to pick exactly the décor they want without having to compromise for what is already existing. Picking up the details of a brand new home could be the most fun and exhilarating of the home-owning experience.

5. There is a big chance that if a calculated, well-guided investment was made, the % opportunity of price increase is greater than on an existing property.

Looking to buy a new home or investment property in Miami, Florida, contact us today at info@kijner.com or visit www.miamihouseforsale.net

--

* Tips courtesy of Mrs. Terry Alvarez, Broker at Fortune International Realty in Miami Florida
** KSI Realty's team members (Daniel, Laura and Marc Kijner) are all licensed
Realtors® in Florida and real estate agents with Fortune International Realty in Miami, Florida

The right of first refusal

by Kijner & Sons International Realty

The right of first refusal to purchase clause on a lease may seem clear at the time a lease is negotiated and it is usually viewed as an incentive to the tenant since it does not cost anything. However, a right of first refusal, unless it is very clearly stated on the lease, might complicate matters.

The right of first refusal gives the option to the tenant that before the landlord/seller can sell the property, the tenant must be given the opportunity to purchase it for the same price, terms, and conditions as the offer received from an outside third party.

1. The lease shall state a specific amount of days for the tenant to respond as to whether he accepts or rejects his right to purchase the property.

2. The lease must give certain amount of days for the tenant to have the purchase contract drawn and executed after he/she is notified of an outside offer has been received

3. The provision should state if this is a one-time right or if it continues during the term of the lease for every offer the landlord receives.

4. The third party offer must be in writing and signed by the prospective buyer before it is presented to the tenant for his consideration.

5. One of the complications that it may occur is that if the tenant declines to meet the price being offered by the outside third party, and later on the property closes a a lower price, after the initial agreed price is reduced due to defects found during inspection period, the tenant may claim he was not given the opportunity to buy at the lower price.

6. All communications must be transmitted in writing and are time sensitive.

7. The lease shall define very clearly if any sale to a third party is going to be subject to the existing lease or if tenant or landlord may have the right to terminate the lease at the time of the sale.

Any Realtor® taking a listing with a lease in place should be made aware by the owner if a right of first refusal is in effect. The Realtor® should review these provisions and clearly understands whether or not the listing Realtor® would be entitled to a commission in case such right of first refusal is exercised by the exiting tenant. The Realtor® should be prepared to assist owner/landlord navigate these troubled waters.

Do you have questions about purchasing or selling a property with a tenant in place in Miami or Sarasota Florida ? Contact our Florida agents today at info@kijner.com. You'll be glad you did :)

--

Courtesy of Mrs. Terri Alvarez, Broker at Fortune International Realty, Miami FL

 

 

Happy Chinese New Year

by Kijner & Sons International Realty




GONG XI FA CAI



In Chinese astrology, 2018 marks the Year of the Dog,
the eleventh of all the zodiac animal signs in a twelve year cycle.

Did you know?
A dog’s most defining traits are their loyalty, honesty and good nature.
They are committed, tenacious and hard workers.
They are also popular in social circles and good at helping others. 
They seek a good life surrounded by family and friends.
They are true homebodies and 
the definition of
"home is where the heart is"!

With a New Year, comes new beginnings.
If you are in the market for a new home, we are here to help!

In the meantime, all of us at KSI Realty
wish you a prosperous, healthy and lucky Year of the Dog!



      


2018 Florida Realtors® Mid-Winter Business Meetings

by Kijner & Sons International Realty

Daniel Kijner, KSI Realty's Senior Broker-Owner and Broker Associate with Fortune International Realty in Miami, is currently attending with fellow real estate professionals the 2018 Florida Realtors® Mid-Winter Business Meetings.

During the event, which is held in Orlando Florida from the 24th to the 27th of January 2018, several highly respected economists and business data experts will share their insights on the US economy as well as on the Florida residential real estate and housing market. The 2018 Florida Realtors® Mid-Winter Business Meetings are a great opportunity for agents to not only network but also learn about the latest real estate trends and data to better serve their clients and the community at large. 

KSI Realty is a proud member of the Florida Realtors®, the voice for real estate in Florida which provides programs, services, continuing education, research and legislative representation to its 180,000 members in 54 boards/associations. 

Check some of our photos from the event below. Wanna learn more about the committees' meetings and events, click here

Are you looking to buy or sell a property in Miami-Dade or Sarasota Counties, Florida? Visit www.miamihousesforsale.net or contact us today at info@kijner.com




2018 Florida Realtors® Mid-Winter Business Meetings




Daniel Kijner
&
Leigh Brown
(Immediate Past President of the Residential Real Estate Council,
formerly known as CRS and,
Broker Owner at Re/Max Executive Realty in North Carolina
)




2018 Florida Realtors® Mid-Winter Business Meetings




Daniel Kijner
&
Teresa King Kinney
(CEO of the 
Miami Association of Realtors®)
 



Daniel Kijner
&
Deborah Boza-Valledor
(COO & Chief Marketing Officer of the Miami Association of Realtors®)




Daniel Kijner 

Christina Pappas 
(District Sales Manager at The Keyes Company, 
daughter of Keyes President and CEO Mike Pappas and, 
2017 Residential President of the Miami Association of Realtors®)

What to look for in a good property manager?

by Kijner & Sons International Realty




Many KSI Realty’s clients inquire about the best property management tips out there. Since ringing in the New Year, we thought we would share some of the best resolutions and common advices we provide our clients day in and day out.

As a dependable real estate broker, we always strive to cultivate a strong working bond with our clients and customers, so in turn, we advise landlords to develop rapport with their property manager, creating a positive and lasting relationship with the person that will balance their tenants’ wellbeing as well as maximize the bottom end. We encourage you as a landlord to look for the following attributes:

  • A property manager that build trust. Someone who does what they say they are going to do, when they say they are going to do it. 
  • Someone who is communicative. Keeping you informed of pertinent issues, and doing so in a timely manner. Likewise, always responding to tenants’ calls as promptly as possible as well as yours. Look for someone who over communicates and establishes expectations upfront that he or she will stick to. Training you on what to expect from them.
  • A professional who over delivers. Making your objectives known, and then…do better. 
  • Someone who is realistic. Someone who is grounded, firm and who follows through and follows up.  Someone who accomplishes the mission you have hired him or her for.
  • Someone who suggests improvements. Welcome suggestions that will improve the property value or income generation. Trust the professional.
  • They listen and know what the owner wants. He or she won’t base their actions on assumptions. A good property manager will know what your expectations are, and have a clear plan in place to meet them.

Know that no one will do a better job than you - the owner - who has a vested financial interest in the property. Absentee owners often expect to delegate all and every task to a property manager. This is the first mistake. You must be realistic and handle certain delicate aspects of your investment yourself to ensure that your interests are best served but that your liability is minimized. Mitigate risk by:

  • Setting up and maintaining a reserve fund that the property manager can use for maintenance issues, emergencies, and daily matters.
  • Obtaining and maintaining proper insurance that also covers the property manager. Make sure to renegotiate every year premiums and get 5-10 quotes to ensure you are getting the best rate.
  • Having a direct communication channel with the property manager in the event you miss a payment associated with the property (property taxes, mortgages, HOA fees or insurance) so that your tenants are not impacted. Be proactive and not reactive.
  • Reimbursing the property manager for any expenses and by setting up a clear budget. Don’t run short on cash flow and don’t expect tenants to pay the bill on your behalf. High turnover signifies a problem of customer service or bad maintenance. Good tenants attract good tenants and long-term stay.
  • No renting the property without notifying the property manager or worst not putting the property for sale without informing your property manager. Fear can propagate fast among good standing tenants and jeopardize your cash flow.

Typically, the property manager addresses repair issues, either by doing the repairs him/herself, or more commonly, by hiring someone else to do the work. Before you sign the agreement with a property manage, take time to evaluate the property you have and the expected maintenance. Take note of any repairs that need to happen right away, as well as ones that can be deferred. Prioritize the repairs and discuss your list with your property manager to ensure he or she has a realistic picture of the task at hand.

If your property manager is not increasing your rental income, he or she should be building customer rapport and client retention with your tenants. Satisfied tenants tend to pay on time and look after your property as theirs. Keep in mind that your tenants might be your best buyers the day you may sell your unit. Most people take pride in their home and may consider buying the place they rent.

In addition to outlining needed repairs, you should be clear on whether the property manager needs your approval for all repairs. Or perhaps, just those repairs exceeding a certain cost that you set. Setting up a “rainy fund” or “emergency fund” is a good idea. Don’t use security deposit to handle emergencies. Instead, a good property manager should help you set aside reserves. 7% of your income is usually a good starting point. The more amenities or luxuries you offer, the more reserve you should set aside as you are dealing with more discerning customers that will have higher expectation. Remember, the owner of a Lexus will have higher expectations and needs than the owner of a Yugo.

Accounting responsibilities should also be addressed but shared.

Every State has its own laws regarding the accounting procedures that property managers need to follow. Ensures that your legal counsel assesses the risk and liability that you are exposed to. Any agreements you sign should support those laws, so make sure you are well versed on your State requirements, but over all, that your property manager is dully licensed and able.

The agreement should also specify the date by which you can expect to receive your money. The 15th of each month? The 30th? Be as specific as possible, so that everyone is on the same page from the start. This will help to limit complications later. A happy owner is one that gets paid on time systematically.

Avoid cash system and try to automate payments with direct deposits. Keeping a clear paper trail of monies ensures a clear accountability and limits risk of loss or theft. Monies should be handled by the fewest amount of hands and financials should be shared on a need-to-know basis.

Lastly, spell out responsibilities for evictions and terminations of tenancy. 

Most States outline specific guidelines regarding evictions and terminations of tenancy in their landlord/tenant laws, so you will want to be sure to abide by those. Your agreement should outline, though, the extent to which the property owner wants to be notified about and/or directly involved with such matters. Have your Real Estate attorney have a master lease drafted with eviction procedures in mind and have all papers handy so the process is timely and efficient.

As usual, don’t hesitate to contact us for all your real estate needs. Come and sit down at our KSI Realty’s Manhattan Midtown office to discuss your income producing or investment property needs. 

December 2017 eNewsletter

by Kijner & Sons International Realty



   


FROM OUR FAMILY TO YOURS, HAPPY HOLIDAYS!
Wishing you good health, success and joy throughout 2018 




~~~~
LISTINGS OF THE MONTH
~~~~


BRADENTON, Florida - USA


EXCLUSIVE LISTING
MLS #A10349708
Located at 6501 Drewrys Blf
3 Bed, 2 Bath Home with Swimming Pool
 $352,000

      



EXCLUSIVE LISTING
MLS #A10349766
Located at 1005 64th Street West
3 Bed, 2 Bath Home with Swimming Pool
 $259,777

      
 
For all your residential and commercial inquires in Florida
contact us at
 info@kijner.com

We specialize in Miami-Dade, Broward and Sarasota Counties!



NEW YORK CITY, NEW YORK - USA






We have amazing properties for rent and sale all over Manhattan. Check out our latest condos, coops and townhouses now to find your next home in the Big Apple. 

Whether you are looking for a doorman building in the Upper East Side, a walk-up apartment in a brownstone in Greenwich Village or the East Village, a studio in Gramercy, a 2-bed to move-in with a roommate in Midtown or a penthouse suite overlooking Central Park, we have what you need!


    

To view all of our current listings for rent and sale in New York City, click on the icons above or 
here.

Download your free NYC Renter's Guide here!


FRANCE

Paris & Suburbs


Beautiful 1 Bed, 1.5 Bath Apartment
with Planted Terrace 

in Neuilly-Sur-Seine, minutes to Paris
at 770,000 euros

      

Courtesy of our exclusive partner
france@kijner.com




Provence - French Riviera


Stunning 5 Bed Sea View Villa
with Swimming Pool, Pool House and Landscaped Garden

in Saint Jean de l'Esterel, Alpes Maritimes
at 1,248,000 euros

    

Courtesy of our exclusive partner
france@kijner.com






Contemporary 5 Bed Villa
with Swimming Pool and Cellar

in Carqueiranne, Var
at 
2,310,000 euros

    

Courtesy of our exclusive partner
france@kijner.com


   


Stunning 3-Story, 4 Bed Villa
with Swimming Pool and Garden

in La Presqu'Ile de Giens, Var

at 
2,395,000 euros

    
    
Courtesy of our exclusive partner
france@kijner.com


     
 


BANGKOK, THAILAND


New this month! 
Some of our latest commercial and retail leases in Bangkok


322 sqm of Ground Floor Commercial Space
with street level access

in Suriyawong, Bang Rak

at 150,000 THB/month

      
     
 


Renovated 3-Story Commercial Building
with parking for 9 vehicles
775 sqm suitable for restaurants, offices, a showroom, spa or hotel
in Phrom Phong, Soi 26
at 400,000 THB/month

      
    


3 Commercial Spaces
in a Building with Elevator

suitable for restaurants, offices, or retail stores
in Asok, Soi 20
for rent as follows
1st floor: about 90 sqm at 900 THB/month/sqm
2nd floor: 144 sqm at 850 THB/month/sqm
3rd and 4th floors: 174 sqm at 750 THB/month/sqm

      
    
    


180 sqm of Retail Space
suitable for a restaurant, coffee shop, pub, spa or showroom
in Thonglor, Soi 49
at 220,000 THB/month

      
    
For all your residential and commercial inquires in Bangkok
contact us at
 thailand@kijner.com

Looking to rent or buy a condo, a townhouse or a luxury villa in Bangkok?
Check our latest listings updated weekly at www.rentsukhumvit.com/en/agent-listings

     
 


****


To view all of our current listings for sale and for rent, click on the desired link
France
Bangkok, Thailand
Miami, FL
New York, NY

We specialize in income producing properties
as well as residential and commercial investment opportunities.
Contact us today for your private consultation. 


Happy Thanksgiving

by Kijner & Sons International Realty

Wishing everyone celebrating a wonderful Thanksgiving!

The Art of Doing a 1031 Exchange

by Kijner & Sons International Realty

 

Many clients of KSI Realty NY Inc. are savvy investors and one of our favorite topics of discussion is the 1031 exchange. Those 4 mysterious numbers are simply an IRS tax code identification that allows owners of a business or investment property to defer the recognition of the capital gain tax normally due upon the sale of the property as long as it is re-invested in a "like-kind" property of equal or greater value through the use of a qualified intermediary.

We often start our conversations with our sellers and prospective buyers by including their attorneys, wealth managers, bankers and accountants around one table to ensure that their short, mid and long term objectives are well understood. We start with a snapshot of their current state and open the discussion on their goals in 7, 15 and 30 years from now. It is crucial that all professionals have a clear understanding of what is happening first as many fields overlap and all professionals around the table will ultimately shape the final real estate deal decision making process. This is a pluridisciplinary effort.

Many misconceptions and issues can arise from the lack of communication between key professionals. Clients may sometime fail to realize that legal objectives may come in opposition with fiscal, or real estate ones. Having a clear overview and a dashboard of all mechanisms gives you the ability to take informed decisions. Multiple test scenarios are often studied in order to come up with the final approach. On a daily basis, we speak to our clients' attorneys, insurance brokers, accountants and other key financial actors to facilitate the deals. We never give financial advises, practice law or overstep in regulated and licensed industries but we talk, exchange and facilitate the flow of real estate related information to ensure that our client's end goals are achieved.

1031 exchanges are often looked as mysterious, difficult, lengthy and potentially cumbersome. To the contrary, they are actually very easy, reasonably fast and very transparent if you use the right professional. The cost is very minimal, most qualified intermediaries get a small service fee plus a percentage of the interest of the funds they hold.  This is often far less than the potential capital gain that may be paid especially for investments that have been kept for a long time. The likelihood of heightened capital gains is stronger over long periods as market prices often rise. A good business practice is to identify your qualified intermediary via your trusted professionals such as your licensed real estate broker, accountant, banker or attorney. A solid track record and years of experience in serving as a qualified intermediary is key. We advise our clients to research the nature of the guaranties offered by the qualified intermediary. Making sure their money will be safe and limiting the risk to see lifelong savings vanishing into the "wild".

Many clients forfeit the idea of a 1031 exchange thinking they have to find someone who is willing to swap, or worst that they have to buy the exact same type of property they are selling. Another classic misconception we see, is that the exchange must be simultaneous or that the entirety of the proceeds must be used for the replacement property(ies). This is all false. Even very complexed real estate deals such as REITS or other trust funds can have adequate solutions such as using DST's (Delaware Statutory Trusts) which are recognized 1031 exchanges. One of the main advantages of DST's is the ability to exchange immediately without delay on the day of closing ensuring the continuity of passive income as it is often one of the determining factors for many of our investors that are looking at ensuring the perennity of their flow of income. 

As licensed real estate brokers, we do not financially benefit from the 1031 exchange, we do not perceive a commission and at KSI Realty NY Inc. we are not qualified intermediaries. The benefit goes 100% to our clients. We share our vast knowledge of commercial and investment real estate as good business practices to allow our clients to maximize their reinvestment. Allowing them to use the deferment of the capital gain portion, which is in essence free leverage that can be used towards a new purchase until it is sold again and/or reinvested. Currently, there are no limitation to the number of 1031 exchanges one investor can undertake as long as the replacement property is kept for at least 2 years, although certain exceptions may apply. As with everything, nothing is static and clients should always seek the assistance of their attorney, accountant as well as wealth and estate planners to anticipate new regulations that are in discussion. For instance, the new tax plan law that President Trump is pushing may have repercutions to 1031 exchanges as well as state and local deductions that would be eliminated (SALT tax) or standard loan interest deductions that many homeowners and investors are relying on. This could put a serious damper to the vivacity that the real estate market has seen lately especially since the slow but steady recovery from the subprime crisis of 2008.

We advise our clients to constantly scan the fiscal and legal environment to make the best investment decisions. Also keep in mind that even failed 1031 exchanges can have benefits. If you are not able to identify a like-kind property or meet any of the restrictions rules imposed by the IRS in the allotted time, you simply defer the payment of your capital gain up to 6 months.

For more information on how to purchase income producing or investment properties, please contact us for your complimentary session.

----

Article originally published on October 19th, 2017 on KSI Realty New York website at http://www.nyc2buy.com/blog/the-art-of-doing-a-1031-exchange

New Changes to the Florida Condominium Act

by Kijner & Sons International Realty




On July 1, 2017 several new amendements to chapter 718 of the Florida Condominium Act went into effect. Here is what you need to know if you are looking to rent or buy a condo in the Sunshine State.

  • A unit renter has the right to inspect and receive a copy of the association’s by-laws and rules.
  • The association must issue an estoppel certificate (letter) within 10 business days of receipt of a written electronic request for said certificate.
  • If the estoppel certificate is not delivered within 10 business days from request, no fee may be charged for the preparation and delivery of said estoppel certificate.
  • The estoppel certificate if hand-delivered or sent electronically must be valid for 30 days; and 35 days if sent by regular mail.
  • The fee is limited to up to $250.00. However, for an expedited request to be delivered within 3 business days, the association may charge an additional $150.00. Furthermore, if the owner is delinquent on the payments, the association may charge an additional $150.00.
  • All condominium estoppel certificate must contain the following:
    • Specific assessment information
    • An itemized list of all assessments
    • Regular periodic assessment and frequency
    • Assessments and other moneys to become due
    • If there is a capital contribution fee and the amount
    • Resale fee or any other fee and the amount
    • If there is a right of first refusal to the association or to its members
    • Contact information for all insurances maintained by the association
  • Board of director members are limited to a maximum term of 8 years.
  • Denial of condo documents may be cause for a felony charge.
  • Associations with 150 or more units must post digital copies of the condo documents on its website as of July 1, 2018.

Effective July 1, 2017, Condo Associations and Homeowners Associations will have a limit on the amount they will be able to charge homeowners for an Estoppel Certificate (estoppel letter). The cap is as follows:

  • For Homeowners who are current in their assessments: $250.00
  • For expedited services, to be delivered within 3 days from request: $100.00 extra
  • For Homeowners who are delinquent in their payments: $150.00 extra

This bill also requires certificates to be valid for 30 days if delivered electronically, and 35 days if delivered by mail. This uniformed fee will facilitate accuracy for closing agents when preparing closing estimates for sellers.

If you are looking to rent or buy a condo in Miami Florida, contact us today at info@kijner.com.

----

Source: Fortune International Realty

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