The right Roof

Roof materials and its condition affect the value of a property today and the forecast of replacement budgets having an effect in income producing property performance. Asphalt or composite shingles are probably one of the more economical and usually last between 15 to 20 years unless you go for the architectural shingles with a three dimensional look that are more expensive but can last up to 40 years.
Clay or concrete tiles used primarly in residential applications look best in Spanish or Mediterrenean homes and can last up to 50 years.
Metal roofs are among the most expensive, especially those made of copper, but are one of the most durable choices, lasting up to 100 years. On the downside they can be noisy when it rains but they are efective for commercial applications.
New polymer products have come on the market recently for their durability, light weight and fire resistance. Also choices of green materials used more in commercial properties.
Concrete roofs are the best option, especially in areas like South Florida where there is always a risk of windstroms and hurricanes but must have excellent waterproofing,especially in flat areas and may ad in some cases too much weight to the structure, increasing the cost of building.
Common to all roof types is good maintenance taking care of a problem as soon as it is detected.
Now, a new product that can be incorporated into roofing systems, especially with asphalt shingles, are solar shingles, less expensive than solar panels, easy to install and provide a cost effective solution with energency efficiency in mind. Dow Chemical will soon release this product called the Power House Solar Shingle.
As insurance cost rises and during this economic downturn when construction prices have come down significantly, many developers and investors are looking at building with concrete roofs for the long term benefit of the property.

Miami Industrial Real Estate Market

Availabity rate surpasses 14% as vacancy rate reaches 12% and gross rents fell to $5.00/sq.ft per year in Miami-Dade County. Companies downsizing and holding on expansion plans as the economy continues to worsen in many aspects. Construction stopped months ago and new projects are empty waiting for demand for new space to come back.
Until the local economy starts to recover slowly by the end of 2010 and if international markets keep their strengh in trading with US exports, we may see this market to start to recover by the end of 2011 but the process will be slow.

Tenant Screening and Foreclosure crises

During these difficult economic times and especially with the current number of properties under forecloaure, it is difficult to underwrite a tenant application based on credit scores or credit history. We at Florida Property Management Services,Inc. are taking another approach to evaluating tenant applications. Of course credit is important but many families and individuals may have credit problems and face foreclosure due to circumstances beyond anybody's control. Many good prospective tenants are going to be people that faced foreclosure just few months before applying for residency at your property or complex. Bad credit due to foreclosure can be compensated with stable employment and sound analisys of income to rent ratios. Also an important aspect is to look close at credit cards and other revolving accounts. One may face foreclosure due to living beyond one's means but a responsible person keeps his/her obligations up to date, paying revolving lines on time. Paying your credit cards and installment loans on time, having a decent rent to income ratio and a stable job, more than compensate the fact of having a foreclosure on your record and may open the door to rent at any desired complex or any specific property.