BOMI’s Building Know-How Blog is dedicated to thought leadership and best practices for the industry of property and facility management. The feed below contains some of our most recent posts. You can read more post like these at bomiblog.org. Be sure to subscribe while you’re there and get all of our new content sent right to your inbox!
- Is Your Property Covered? 6 Types of Liability Insurance Needed September 27, 2019Property owners and managers expose themselves to potential liability any time they engage a third party to perform work on their building's premises. If the third party causes injury to a building occupant, tenant, or employee, the owner or manager is a target for liability actions.To prevent a lawsuit at all costs, this post dives […]
- Know Your Competition August 9, 2019What you can learn from other property managers who lease space in their buildings? The answer is, a lot!Trading InformationGetting to know your building colleagues can have benefits beyond learning the going rental rates. In spite of what you may think, in most cases your competition will be friendly. A fraternity/sorority of sorts results from […]
- Summer Sun is the Best Renewable Energy Solution June 28, 2019The summer months provide a great use case for renewable solar energy solutions. Solar energy use has surged at about 20 percent each year over the past 15 years thanks to rapidly falling prices and gains in efficiency. Japan, Germany, and the U.S. are major markets for solar.With tax incentives, solar electricity can pay for itself in […]
- Spend Less on Cleaning Costs with These Design Tips May 13, 2019The results of cleaning are visible to the public, customers, and employees, especially if cleaning is done poorly. Building tenants consider the cleanliness of a building and its common areas a significant criterion in assessing the effectiveness of building management. Cleaning costs are not only ongoing, but grow continually as wages and other costs increase. In […]
- Final Decisions when Managing an REO Property April 12, 2019In Part 1 and Part 2 of this blog series, we discussed what a real estate owned (REO) property is and the specific tasks an asset manager will perform to improve the overall appeal of the property. In this final post, we will evaluate the next steps after the property is repositioned.As an asset manager, you are responsible for assisting […]
- Managing and Repositioning an REO Property April 5, 2019In Part 1 of this blog series, we discussed what a real estate owned (REO) property is and why it is one of the biggest challenges in property management. In this post, we will go into the specific tasks an asset manager will perform to improve the overall appeal of the REO property to potential tenants and […]
- The Biggest Challenge in Property Management March 29, 2019Managing a real estate owned (REO) property is one of the biggest challenges in property management. An REO property is owned by a lender such as a bank or government agency, usually after an unpaid mortgage and then an unsuccessful sale at a foreclosure auction. Numerous resultant problems require a specialized approach to property management. This […]