• Condominium Management Tips
    By admin on December 18, 2008 | 64 Comments64 Comments  Comments

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    Condominium management professionals have assumed great importance in recent times owing to the increase in the usage of housing complexes in preference to individual houses for residential purposes by many people. Housing complexes are being preferred to individual houses mainly for cost effectiveness and for security purposes. The professionals are being hired by many housing boards to maintain the housing complexes and to ensure peaceful and harmonious communications between the residents of the complexes.

    A well maintained housing complex is a very profitable asset in the present times and hence it is of utmost importance to develop them well. Buyers and tenants are impressed by those housing complexes that have a lot of amenities, storage space and are reasonably priced. A good condominium management organization will see to it that all the housing complexes that they maintain are kept in a top class condition so that these assets attract the maximum number of buyers or tenants. In the present times a lot of housing complexes are being constructed with the aim of providing the maximum comfort to the occupants in all ways possible. There are housing complexes built with continuous electric and water supply, safe and perfect electrical circuitry, protection against natural calamities like floods and earthquakes, and equipped with the latest security equipment.

    Although the amenities that are provided in a housing complex and condominium management and maintenance play a vital role in its market value, the location also plays a vital part in determining the market value of the housing complex. A housing complex may have the best of amenities that are available, but it should be located in a place that is convenient for people to live in, to command good market value. A house that has lesser amenities but located in one of the coveted areas of a city might command a greater market value in comparison to the former. In fact individual accommodations in housing complexes that are located in areas that are in great demand are priced very high even though they do not have any amenities worth taking special note of.

    The condominium management professionals should advise buyers on the areas that are in high demand. The assets that are in good locations are the ones that fetch a high resale value and hence one can be assured of good returns in purchasing an accommodation in a housing complex in a good location. But it does not mean that the values of the assets are going to remain profitable on a permanent basis. The values of accommodations in good areas might also fall or fluctuate owing to the land rates and the prevailing economic scenario. One can choose to buy an accommodation in an already well established area or an area that has good growth prospects, though the latter case involves taking some risk.

    Before purchasing an accommodation in a housing complex the buyer should take advice from the condominium management professionals about the best places for fetching high resale values. It has been observed that the places that have shopping malls, hospitals, high transportation frequency, educational institutions, and offices are the ones that are preferred by many people for residing in. The places that have naturally beautiful surroundings are the ones are in high demand. The places that are in safe localities are also preferred by many people.

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  • Property Management Tips
    By admin on November 29, 2008 | 70 Comments70 Comments  Comments

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    Today many people prefer to live in buildings and condo high-rises due to the several facilities involved. Those who live in their own homes need to spend their time, money and efforts on the regular maintenance and upkeep of the property and car storage areas. In our busy life today, it becomes extremely difficult to handle the additional responsibilities of managing the buildings. Building management is a new concept and is offered by many companies who provide the services of management of properties. There are many buildings which have more than 20 units and need to be management efficiently. Management is specifically required for the common areas that include stair cases, lawns, gardens, terraces and also pathways. In such cases, it is not possible for the owner of each unit to take care and manage the whole building premises. Under such situations, the services of the management companies are required. These companies usually have their own methods of managing the units and common areas of the property. The first task that any company which offers the services of building management is the appointment of a manager.

    The appointed manager first checks out the property in order to understand the requirement and the kind of services that he may be required to perform. He makes an assessment of the property and reports back to his employing company with details and other formalities. The next work he does is the arrangement of a meeting with the residents of the buildings, to know more about their requirements. A mutual agreement is made on the works that need to be done and the fees that shall be charged by the company offering the services of building management . Once the legal formalities are done, the manager takes over the assignments and starts his work of management of the property.

    The manager of the property looks after several things beyond the management and maintenance of the property. It is his duty to see that there is a good client and tenant relation and living conditions are cordial. He tries to minimize the cost of maintenance of and increase the profits of the investment, as much as it is possible. Managers are often responsible to see that there is no discrimination between anyone living in the buildings on the basis of race, gender, race, physical disability and even sex. All individuals who are involved in the management of properties should follow these rules of living. Building management is not just about managing, repairing and maintaining the building units, but also involves taking care of all the needs of the residents.

    The contract entered between the residents and the management company, often lays down general rules about building management . It is normally mentioned in the contracts that repairs and maintenance should be carried on as soon as possible so as to provide maximum comfort to the residents. There may be major repairs related to the property such as leaking pipes, electricity problems and heating or cooling problem, which need to be tackled within 24 hours, since these are the basic necessities for living. The manager of the property needs to inform the tenants, about the exact time and duration in which repairs and maintenance shall be carried out so that they can make arrangements accordingly. An open line of communication becomes extremely important in these cases between the manager and the company.


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  • 10 Rules For Tenants To Follow
    By admin on November 6, 2008 | 72 Comments72 Comments  Comments

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    When you are going a home for rent , then you should be very careful, so that you do not land up to any controversial situation with your landowner. Being a good tenant will enhance your credibility for getting better places in future. A landowner might check your history with your previous landowners, to find out your reputation. If you do not have a good reputation, then it will be difficult for you to get a rented house in a reputed locality. Before signing out the agreement between the landowner and you, check the reputation of the prospective landowner too. It is not always that renters are bad people and landowners are good, the opposite might also be true at times.

    It will be better if you follow certain tricks and be prepared well ahead while putting your sign on the paper.

    1. Always be organized with all paper works, when you go for rent to the landowner. You must have a formal application, written references from previous owners, employers and a latest copy of your credit report.

    2. Before signing on the dotted lines, carefully check out all the clauses and provisions written on the agreement. There is no use if you find some of them unacceptable after signing on the document.

    3. It is better to maintain everything in writing, so that there is no chance of facing any disputes with your landowner. Keep your all correspondence in a safe and secured place for any future reference, if requires.

    4. When you go for rent , you should guard your privacy with utmost care. The most common field of misunderstanding between the landowner and tenant occurs over the issue of the right to enter a rented unit. The landowner must give stipulated amount of days notice as it is mentioned in the agreement.

    5. Normally, the landowners or the responsible management company cares for regular maintenance or repair works related to the property. If it is not so, then you have to demand repeatedly until the problem is fixed. If the landowner does not turn up after receiving your repeated calls, then you might take some legal action, only if the agreement permits.

    6. Maintain a healthy relation with your landowner, when you decide for rent . This will help you to solve many problems verbally, without going to any horrible legal scuffle.

    7. You must have insurance for renter, as the insurance of your landowner will not protect you from theft or any natural hazards. You can talk to your insurance company to have detail knowledge before renting the place.

    8. Make sure that the security deposit has been kept safe and it will be refunded to you with or without interest while you move out. The agreement should clearly specify all the details about this money. Otherwise, complications could arise out of this context.

    9. Before you decide finally for rent , enquire about the reputation of the locality. In case of any criminal activity, your landowner has the responsibility to take proper steps to give you adequate protection.

    10. In case of an eviction notice, do not panic if you are loyal to the agreement. You can fight against the eviction order, with legal help and provable facts on your side. But, if you are at fault, then you should better obey the notice. Losing to an eviction proceeding will affect your credit rating and reputation.

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  • Learning About Real Estate Listings
    By admin on October 18, 2008 | 68 Comments68 Comments  Comments

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    If you are thinking of buying some real property and wondering where to find one you can always rely on the internet to supply you with enough information to mark out which properties to try out. Real estate listings are the sources of such properties and the search for the properties can be refined with the help of various filters like state where you want to buy, the price that you can afford, the type of property that you are willing to acquire, etc. The websites that you need to visit are maintained by various real property brokering firms and these firms also advice you on the process that should be followed when trying to choose a property. If you have a property to dispose, these sites can also help you out.

    The search in any real estate listing site will begin with where you want to buy the property. The radius within which you want to get it will be the first priority. It is quite practical as you do not want to search the whole state when you are moving to a particular city or town. This filter helps you to restrict your search to the specific area where you are going to live. When you are satisfied with the range you need to think about the amount that you can spend on the property. This is probably the most important part of the search. You should be very focused about the amount that you can spend because it will determine the mortgage amount that you will be paying per month for the property.

    Real estate listings will then focus on the number of rooms and bathrooms that you will need. If you are getting the property as an investment option you must decide which type of property attracts the most number of tenants and get such a property. Finding the right area will also be a factor then. You should try to invest at such a location that has good demand. In a particular location the deciding factor of price is the amount of space that you will be acquiring.

    After settling on the area, the price, number of rooms and the location, you will need to decide on the type of property which you like to buy. Real estate listings have a wide variety of properties available for acquisition. You can easily choose from owning units in a condominium or co-operative and opt for multi-family properties or if you want you can also choose from bungalows and single family units. Vacant lots are also listed on such sites and so are ranches and country houses. The search can be even refined down to even the styles of the houses and if you are particular about it, these sites are the ideal places to look for.

    Finally the finer points of properties like the availability of garage, pool, spa, water, basement, accessibility for the handicapped person, etc can be determined and then the search will list the available houses and properties. If the search is refined to such an extent you are sure to find a suitable property. Real estate listings are also helpful to the people who are willing to dispose their property but not finding suitable buyers in their acquaintance. You need not pay any fees for the purpose but only the brokerage when finally selling it.

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  • Positive Apartment Management People Skills
    By admin on October 9, 2008 | 69 Comments69 Comments  Comments

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    Though many tenants tend to complain about ineffective apartment management, if they had to spend a week walking in the shoes of the person whom they were complaining about, they would probably be telling a completely different story. Running a complex is no easy task, what with all of the duties and responsibilities it requires. It takes someone who not only has exceptional time management skills, but also someone who is not afraid of dealing with tough customers, meaning tenants that, for whatever reason, fail to pay their rent on time.

    Working in apartment management certainly encompasses a wide range of job duties. Their jobs encompass customer service, meeting and greeting potential residents and assisting tenants. They are also a part of the maintenance industry, as they also have their hand in delegating the activities that will maintain and update their units and keep residents safe.

    There is a bit of policing involved in apartment management , as well. When a tenant is parking in the wrong spot, or if they have pets that are not on their lease agreement, someone has got to set them straight. Even though most tenants do pay their rent on time and without incident, it is not uncommon for apartment management to have the unpleasant task of dealing with tenants that have moved out unexpectedly without finishing their lease, leaving the unit filled with trash and completely wrecked.

    These units require extreme cleaning and maintenance before they will be ready to be rented again. The person in charge has the task of not only insuring that the unit is made ready for new tenants, but also of attempting to retrieve lost rent from the tenants that decided to take off mid-lease. Collections are not usually an enjoyable part of the job, but it is one of the many duties that are responsible for each day.

    Secretarial skills are important, as they may be ones answering the phone from time to time.  Having some working knowledge of accounting cannot hurt, either. It will come in handy when they are tracking expenditures that have gone out, or when they are busy creating monthly expense reports.  And if the person is an experienced writer, then it will serve them well when it comes to creating and publishing a regular newsletter that goes out to the tenants to alert them to any changes, to remind them of special events and occasions within the community or to profile one of the staff members. 

    Being in a position of apartment management is really more comparable to ten jobs all rolled into one, so individuals must be flexible, task oriented and cheerful, and excellent with customer service. Someone bad mouthing their complex or unit manager for being incompetent would do well to be told to cut the person some slack or go apply for the position and see if they can do it themselves!

    As a general social custom, it is a good idea for people to acknowledge their managers once a year or so by sending Thank You or Holiday cards to the office along with their monthly rent. People who work hard for you all year enjoy feeling appreciated.

    Of course, apartment management can take it upon themselves to make certain that each interaction that they have with a tenant ends with an expression of appreciation for them. Building strong relationships with residents of their community is part of their job as well. It pays off to be excellent at that aspect of their job, and it will take them far in the eyes of the local residents and help curb the negative stigma that is sometimes attached to being the land lord.

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  • Opt For Rental Homes
    By admin on September 9, 2008 | 3 Comments3 Comments  Comments

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    As the world faces the economical crunch, more and more people are opting for staying in hired accommodations as they do not have enough money to purchase assets. Keeping in tune with the changing preferences of customers, assets investors are seeing greater profits in giving out homes for rent rather than for purchase. The system of hired accommodations is proving to be increasingly beneficial for both the investor and the client.

    Viewing from the perspective of the investor, doing business with hired accommodations is proving to be highly advantageous in comparison to selling an asset. The reason is that when a property is sold the seller sells the accommodation at the current market value. On the other hand, if he lets out the asset on rent, he can recover his cost price in some months and keep getting revenue on it after that. Even after a few years if he decides to sell the asset he can always sell it at the market value that prevails at that point of time. Hence after recovering the cost price, the investors who let out homes for rent can make a huge profit on the assets that they give on hire.

    Now, by viewing the system of hired accommodations from the perspective of the customer, in the present times hiring accommodations is advisable to purchasing them. The first reason is that the costs of assets are soaring and it is rather difficult for the common man to make huge investments on the assets. Even though banks and financial institutions arrange for financial aid, their interest rates are very high.  Hence it is better for the common man to opt for homes for rent and keep some liquid cash with him to spend on other vital resources. He can save up money and buy the asset later when he has established himself well financially.

    Nowadays, in some countries there are some very good schemes that allow people to hire accommodations first and buy them later. In this scheme a person can occupy an accommodation on hire and then purchase it. There is no obligation for the person occupying the accommodation to buy it. This scheme is beneficial to the people hiring the accommodation. A large amount of their money does not get locked up in the purchased asset. On opting for homes for rent a person gets to know the plus points and the minus points of the accommodation. Hence, he is in a better position to take a decision regarding the purchase of the property. In this way he does not risk buying an accommodation that can give him problems later on.

    Another advantage of living in hired accommodations is that the occupant of the accommodation can move out of it whenever he wishes to without a lot of hassles. Many people buy an accommodation only to realize that they do not like it for some reason. But they stay on grudgingly in that accommodation because they have already invested a huge amount of money on these homes for rent and they do not have enough money to buy a new accommodation of their liking.

    Hiring assets rather than buying them is advantageous in that the monetary value of assets keeps changing and there might be depreciation in the monetary value of an asset in which case hiring it is preferable to purchasing it.

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  • A Few Words On Apartment Rentals
    By admin on August 12, 2008 | 54 Comments54 Comments  Comments

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    Apartment rentals are self-contained housing units that can be taken for hire. It is very difficult to find a suitable residence for your choice. If you are in need of it you will find that searching a living place is as difficult as searching a boyfriend.

    To hire apartment rentals go through the websites. There are several types of complexes that can be hired. Some are small, some are medium and many of them are very big. Some are very simple and some are luxurious condo type. Search according to your budget. Some units are so small that all living, dining and bedroom are combined in a large room. Only a small separate space is used as a bathroom. Some houses that are usually let out are furnished and some are unfurnished. In a building where many people live in a same building but in separate units some common facilities such as parking, laundry, swimming etc, are provided to them. Some facilities such as garbage cleaning, mailbox and doorbell facilities are usually always provided to the tenants.

    When you are in search of apartment rentals first see the planning of the house if you are going to hire it. But do not forget to survey the locality where it is situated. If you have children try to acquire information about the performance of the local school. See whether the other facilities such as medical stores, hospitals, markets, shopping mall etc. are near to your house.

    Like you, as tenants also have likes and dislikes about the property you are going to rent so do have your landowners about their tenants. Try to maintain a healthy relationship with the owner. First thing you should do is pay your rent in time. Tenants are provided with some articles of landowners which they want back in the original conditions. Handle those with care. Be careful about your pets. Most landowners do not like that their tenant should be accompanied with his or her pets because according to them it will create noise and make the place dirty. So there may be restrictions on tenants regarding their pets.

    There are several websites which give you various information about apartment rentals – the size of the house, the house planning, the other facilities that can be got from there, the budget etc. You can also see several pictures of the house from different angles. Thus you can make a quite clear picture of the house and it will be easier for you to choose it. If you get interested in any property you can call the owner or agent personally to schedule a visit because after all a physical verification can do what a hundred pictures would not do.

    Apartment rentals are very much popular today. As in present context man has to move from place to place from the sake of job and education. It is easier for them to hire a living place than to buy for their own. An interesting trend is the hiring of such units by the tourists. When they arrive to a new place they search for some living units with bedroom, bathroom and a kitchen to lower the cost of their stay, especially at costly cities. Such stay not only gives them financial relief but also allows them to live in a homely atmosphere. Rented units have become so much popular to the tourist that it has become a threat to hotel business.

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  • Finding A Rental Home Has Never Been Easier
    By admin on August 11, 2008 | 1 Comment1 Comment  Comments

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    Take a quick trip through just about any residential area in America and you might notice a few things in addition to the manicured lawns, the juniper bushes and random cats running around. You might notice that there seem to be an awful lot of homes for sale these days, with signs planted firmly in their yard practically begging for a buyer. Why are there so many houses on the market right now, anyway? Well, one reason may be the end result of the realities that many families are facing in regards to foreclosure on their loans. With interest rates rising and the property values falling, these families simply cannot afford to pay anymore. The debt has become a financially crushing burden. Or perhaps the owner is attempting to cut their losses and get out before the market gets any worse, salvaging what he can before his credit is ruined by foreclosure, as well.
    Whatever the case, that same lighthearted walk through the suburbs will again turn up another interesting phenomenon, in that every other home with a sign in its yard seems to be a house for rent. Once again, the economy has brought about changes in the housing market, affecting more than just buyers and sellers. People who are trying to hold on for dear life to the properties that they have acquired are feverishly trying to maintain their investments until property values go up again. They refuse to cut their losses. Instead, they are just waiting it out. 
    This is good news for individuals and families that are looking for a house for rent, as many people are now doing after having had bad experiences in the housing market. Looking for a house for rent is much easier than it has been in a long time, and with all of the variety and styles of homes out there to occupy, families can be sure to find something with the quality that they are hoping to find, as well as affordability that will be most easily managed.  
    Once you have found your ideal house for rent, you may want to consider asking the owner of the home what his or her intentions are in regards to the future of the space. After all, if they are merely holding onto it so that they can sell it at a moments notice, this may not be the place that you want to live. Even though it is possible that you could purchase the home from them should they decide to sell, you may not be able to do that. To prevent a house for rent from being sold out from under you, forcing you to move more prematurely than you had otherwise intended, ask up front what the intentions are for the home, so you do not feel disappointed once your lease up and Realtors begin coming to visit. 
    The market fluctuates, as we all know. Who is to say where the path will lead from here? Many people are having second thoughts before committing to buy right now, so leasing is becoming an even more viable choice, and even a smarter choice, than in the previous years when buying a house was the ultimate status symbol. People are beginning to open up to the notion that status means nothing if you cannot pay your mortgage.

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  • Home Owner Created Problems
    By admin on June 25, 2008 | 72 Comments72 Comments  Comments

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    When occupying a property for rent the tenants may have to face some problems created by troublesome owners. Hence it is necessary that both follow the legal guidelines set for property occupation of that place. They should abide by a written contract that contains clauses that are agreed upon by both the parties. However, there can still be some problems created by the owner and the tenant during the tenure of tenancy.

    The owner may decide to raise the rent before the completion of the lease tenure. If one has agreed upon a fixed period of tenancy and has a written contract to that effect, clearly stating that the rent will not be increased during that period, the owner can be challenged in a court. When one is occupying a property for rent it becomes necessary for both the tenant and the owner to clearly understand the implications of each and every clause laid down in the agreement. One can hire the services of an attorney dealing with property matters to understand the terminology of the contract to the maximum. 

    Another problem that might arise is the owner deciding to keep the deposit. Many times the tenant tries to avoid the rent for the last month of his occupancy. This should never be done as the tenant runs the risk of being sued for doing so. If at all, one needs to take such a step owing to some valid reasons when one is in occupation of a property for rent the appropriate manager of properties and attorney should be consulted before taking such a step. 

    All the payments should be made in the form of cheque, drafts or using credit cards so that the tenant has a proof to the payments he makes to the owner. If the owner creates an issue regarding payments he should be asked to state his complaint in a written form. Any payments made by the tenant should be acknowledged through written receipts.  Some states have what is termed as the tenancy deposit protection scheme that will allow the tenant to question the owner if he decides to hold the deposit of the tenant without a substantial reason. The deposit given to the owner for the property for rent can be claimed back by the tenant under this scheme without taking the matter to a legal jurisdiction.

    Another problem that tenants commonly face is the owner visiting them without any notice to inspect the premises and for any other formal property related issues. The tenant has the right to ask the owner not to disturb him without notice. For that matter the owner does not  have the right to restrict the visitors who visit the tenant unless there is any evidence of them directly or indirectly causing inconvenience and even harm to the owner. 

    The owner of the property for rent can ask the tenant to vacate the house, if the credentials of the tenant prove to be wrong, the tenant disobeys the clauses laid down in the contract and also if he does not pay the rent on time due to some unconvincing reasons. The tenant can also be asked to vacate if he does not cooperate in any important property decision taken by the owner concerning the property occupied by him. However there are certain legal rules that the owner has to follow before asking the tenant to vacate.

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  • Green Building Management Practices
    By admin on June 20, 2008 | 65 Comments65 Comments  Comments

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    As the world becomes more aware of the impact our buildings have on the environment, a new way to build and manage has evolved. It is called Green or sustainable building, the practice of using healthier, more efficient supplies in construction, renovation, and demolition and the maintenance and operations of a building. There are various ways to implement sustainability into your building management program.

    Each area of the building focuses on different elements. The design and operation of the building should be made to use energy efficiently through renewable sources such as wind, solar and biomass. Water is used efficiently without waste. When building or remodeling, using recycled content construction materials with low toxicity and biodegradability. Waste management is dealt with by recycling and the indoor environment is cleaned with healthier green products.

    In the early 1990s green meant buying recycled paper and other products. Today, being environmentally green means approaching your purchases and services with healthy living and working environments in mind. Governments and building management teams are looking for ways to incorporate these environmental concerns into their everyday decisions. They need healthier buildings for their tenants and employees.

    Being environmentally friendly includes the following practices.

    • Replacing lighting with energy efficient bulbs
    The cheapest and easiest switch to energy efficiency is to replace incandescent light bulbs with compact fluorescent bulbs. These bulbs produce 75 percent less heat than traditional bulbs helping you save on cooling bills in the summer as well.

    • Modifying the water timing system for improved effectiveness
    Having lawn sprinklers run for shorter periods at night.

    • Reducing the length of time for heating, air conditioning and lighting run or by setting thermostats higher or lower according to the season.

    • Monitoring and replacing filters in heating and cooling systems

    • Recycling waste products

    • Using environmentally safe products
    Smart flooring options can reduce indoor pollution and toxins in carpeting. Carpets manufactured from recycled materials are environmentally friendly. They should be made from 100 percent wool or vegetable dyed yarn. Other carpet options are ones made from recycled bottles.

    Building management should set up a plan for effective recycling and environmentally friendly resources. Effective recycling reduces the need for new resources and lowers the impact on landfills. 

    The price paid for recycled material rises as the demand increases and recycling services grow. Managers can increase their cash flow and reduce waste disposal cost by taking advantage of a recycling program at their facility.

    Paper and paper products are a widespread, growing market for recycling as well as bricks, textiles, carpet, oil, rubber, latex paint and computer scrap. Managers should look for products with minimal packaging and made with recycled products. The three arrowed symbol on the label represents the recycling loop.

    The building management and owners need to become informed buyers of green services as well. They need to look for providers who can help them grow and change with environmental awareness. A business will need to set up a plan based on their goals of being a healthy environmentally green facility.

    Other ways a management team can be greener is by the choosing cleaning products that are environmentally healthy. Household cleaners such as oven and glass cleaners and wood or cabinet cleaners are being produced with natural products and are readily available.

    Being environmentally conscience in your building management goals means being aware of the products and services you purchase. Being able to offer your tenants a eco friendly safe environment can go a long way to keeping them satisfied.

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