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Office Building Buzz Words Get To Know Them Part 1

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If you currently invest or are considering investing in office buildings, here are a couple office buzz words you should familiarize yourself with.

Smart Buildings

A smart building isn’t necessarily very smart. During the seventies, heat, ventilation, and air-conditioning were automated HVAC systems. These first dedicated computers would turn the heat or the air-conditioning on in the morning, turn it off at night, and knew the difference between a weekday and a Saturday, Sunday, or holiday.

Everyone began calling this is a smart building because it saved you a lot of money on air-conditioning. Later, those air-conditioning computers became really smart. They would allow you to adjust your thermostat to a controlled degree. For instance, if you tried to set the thermostat at 58 degrees, the overriding computer would only go down to 70 degrees- that was the set point. At that point, it would turn the air conditioner off. If the temperature rose higher than 73 degrees, it would start the air-conditioner.

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Therefore, tenants began to have less and less control over their office environment. However, it had been a big waste of energy when different tenants controlled their own space. You might have had five thermostats in an office full of people who each thought that they knew best, what the temperature ought to be.

Smart buildings today do so much more because in order to compete they must build in high-tech communications systems. Buildings are constructed with fiber optics to every floor with a T-1 line for telephone calls and high-speed internet.

Entrenched Slabs

Another smart building concept and office building buzz word is one that is just now starting to happen, over the past four or five years. Every four feet some sort of trench is cut in the slab with a metal plate over it. Inside this nine-inch wide and three-inch deep trench is all the conduits and plumbing for the building.

You don’t have to actually cut through the slab, but you go underneath with your pipe and then back up. These trenches are everywhere-some of them are just trenches, while others are voids in the slab. There are no openings unless there’s an intersection. The nine-inch square metal plate is at each intersection.

This means that if you have the system underneath you, inside your floor, and you wanted to change some plumbing requirement, you can get it within four feet of any plumbing you want. Of course, electric and safety codes apply to all these devices. It’s the same way with electricity and telephones. Therefore, no matter what innovations and communications or electrical transmissions are required, the builders can lay a whole new system in the floor without destroying any existing materials.  Now that’s a smart building concept!

Stay tuned for upcoming articles with more “Office Building Buzz Words” you’ll want to know.

Article Source: sooperarticles.com/real-estate-articles/property-investment-articles/office-building-buzz-words-get-know-them-part-1-630353.html

About Author:

Gary began his real estate career in Honolulu in 1966, selling land and homes as head of one of Hawaii’s largest brokerages, and has now sold and leased real estate in Idaho, Virginia, Puerto Rico and Florida. For the last 30+ years Mr. Tharp has been one of the leading commercial investment real estate brokers in Orlando, Florida and a nationally known mentor. Gary is widely regarded in commercial real estate, having developed tools and systems of commercial property evaluation that have become industry standards used by professionals nationwide. He is in demand by lawyers seeking expert witnesses in real estate cases. With development experience ranging from office buildings to industrial parks, Gary is Florida Partner for the Lynxs Group, national developer of air cargo facilities, Fellow of the faculty of the CCIM Institute, and Board of Advisor with HIS Real Estate Network, a residential and commercial buying group.Author: Gary Tharp

  • 14 Nov, 2022
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How To Find Good Home Mortgage

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Submitted by: Joel Teo

While looking for home mortgage loans, you find yourself entitled for lower interest rates if you have healthy credit scores. However, don t assume you will get only a costly loan if you have some credit problems that arose due to illness, or temporary unemployment. You can explain the situation to your lender and chances are higher you will get a less expensive home mortgage. The key here is to open yourself up to available mortgage choices and willingness to do some bargain. Before you submit a loan application be aware of your credit standing by checking your latest credit score with any of the credit rating agencies Equifax, TransUnion or Experian.

In fact, home loans or mortgages are available from banks and thrift companies, mortgage companies, and other financial institutions. Credit unions are also a good source for finding a good home mortgage deal. Shop around to find the best deal. Get details of home mortgage plans by different financial institutions. You can always bargain your way to lower initial payments, fees, and other associated expenses that come in different names.

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Including a mortgage broker includes some extra money paid as commission, but it is a good recommendable option. Such a broker will be knowledgeable about interest rates, fees, and other expenses associated with specific home mortgage schemes and will connect you to different lenders. Negotiating with a home mortgage broker can also, in most cases reduce the interest rate. A reduction by 0.5 % or even 0.25 % can make a difference in your monthly pay, which adds up to a good some in a year and major savings by the time you finish paying off the loan. However you are not obliged to any person or firm, and the thing to look for is lowest interest rates, monthly pay, and low to little late payment fee.

Private mortgage insurance (PMI) is a good option you should explore while applying for a home loan. This is actually a way to ensure that the lender doesn t lose money, in case you fail to pay the loan amount. You require PMI whenever you take a loan for more than 80% of the appraised value of the property. This will however put the lender in a more relaxed state to release loan for your property buying requirements. You can in turn build up any loss in credit score during the tenure of the loan. However you continue to pay monthly PMI terms till you own 23 % of total equity or in other words, till you pay 23% of total value of the property the mark is not 20%.

Copyright 2006 Joel Teo. All rights reserved. (You may publish this article in its entirety with the following author’s information with live links only.)

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  • 29 Oct, 2022
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