Wednesday, April 1, 2020
Monday, March 30, 2020
Steven Taylor Taylor Equities on the Importance of “Family Time” in a Well-Rounded Life
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| Steven Taylor Taylor Equities |
In the last few weeks, my work at Taylor Equities like many American’s typical daily
schedule has shifted dramatically. Many parents have been thrust into
homeschooling, and some are out of work. With these changes comes a sudden
increase in time at home spent with family. These times can be incredibly
stressful. But, during quarantine you may also find new and creative ways to
enjoy spending time with your kids. Hopefully, some of these habits will carry
on when things return to normal. Quality family time comes with many benefits and
is an important part of a well-rounded life.
If you are isolated with family, you may be tempted to create
detailed quarantine schedules or tackle work projects. While there is always
space for productivity, this is time to take advantage of the opportunity for
quality family bonding. Here are a few points that support the importance of
family time in a well-rounded life:
1. Quality time with
parents builds children’s self-esteem
Kids who regularly participate in activities with their parents
are able to build their sense of self-worth. It’s as simple as this: by
demonstrating that you value spending time with your children, they in turn
feel valuable. Quality family time doesn’t need to involve elaborate activities
or expensive outings. A walk through the neighborhood, collaborating on a
puzzle, watching a movie, or baking together can all be quality activities.
It’s not about what you are doing. It’s about being present with each other and
listening.
2. Common interests
strengthen family bonds
Parents and children who share interests such as hobbies,
sports, cuisine, or even movies, can develop strong family bonds. Of course, it
isn’t realistic that you will all
love the same things. But, finding some common ground with different members of
your family can help build emotional ties. By sharing a common experience and
developing memories, families grow closer. Take this down time as an
opportunity to find new ways to relate to your family members and build common
ground.
3. Prioritizing family sets a positive example
Spending quality family time is a way to create fond memories
and solidify traditions. Children who have positive experiences with family and
have happy memories are more inclined to provide a nurturing environment when
they have their own children. Finding the time to routinely make space for
family is one of the best examples you can show your kids. Showing your kids
love and attention only inspires them to show love to others in return.
4. Time together allows
parents to reconnect
Connection is an important part of a well-rounded life. For many
career-driven adults, it is easy to lose sight of what is important. It’s
possible that while you’ve been focused on providing for your family, you have
been missing out on essential shared moments.
Spending quality time with your family allows you to reconnect.
It is easier to get kids to open up about their lives while they are doing a
fun activity. Take the opportunity to ask them more creative questions than
“How was your day?” If you open up to your family, you may find that they are
more willing to share their emotions than you thought. Family time has many
benefits, but the joy of genuinely connecting with your kids is hard to beat. -
Steven Taylor Taylor Equities
Monday, February 3, 2020
Steven Taylor, Taylor Equities - Things to Consider When Renting Commercial Properties
According to Steven Taylor of Taylor Equities, if you are thinking about renting a commercial property, there are many
things to consider before you sign a lease. The commercial real estate
landscape comes with many complications and isn’t as straightforward as renting
a residential space. To find the right property, you will need to understand
the factors that will affect your lease term.
Here are a few things to consider when renting commercial properties:
- Choose
the right location
Before deciding to rent a commercial property, it is important to research
the neighborhood and understand the market. Is this location a prime area for
your business? Pay close attention to street traffic, noise levels, economy
changes, and customer behavior in nearby businesses. Does the area have ample
parking? Will employees and customers feel safe and secure? Is the building
accessible to your manufacturers and suppliers? Taking the time to ask the
right questions can save you time and energy in the long run.
- Agree
on rent and tenure
Once you have chosen a property, you will need to agree on rent and
tenure. Many renters don’t realize that a lease is negotiable. Don’t be shy
when researching properties - to ensure you get the best deal you will need to
discuss and negotiate the lease terms with the landlord.
Locking in a deal that will decrease monthly expenses can be a
game-changer. If a property you are interested in is out of your predetermined
budget, first see if the landlord will budge on the rental price. If not, look
elsewhere. In most cases, it won’t be worth splurging and taking the risk. The
same rule applies to tenure. If you are looking for a short-term lease with
renewal options, but a building is requiring a long-term lease, it is essential
to consider how your business will be affected.
- Understand
the type of lease you are entering
There are a few different types of commercial leases. Make sure you
understand what type of property you are renting and how the payments will be
executed.
Percentage Lease:
This is the type of lease used most commonly
for retail spaces. With a percentage lease, the tenant pays the landlord a base
rent as well as a sales percentage.
Net Lease:
In a net lease, the tenant must pay the
landlord expenses incurred while renting the property, such as maintenance
expenses, in addition to their rent.
Gross Lease:
In a gross lease, all fees are included in the per
square feet price.
- Further
examine the agreement
Many people sign a lease without thoroughly reading the fine print.
Steven Taylor of Taylor Equities believes, this can be a grave mistake. Spend an ample amount of time reading through your
lease agreement. If there is anything you don’t understand, consult a real
estate professional or lawyer. Otherwise you may end up signing an agreement
that greatly favors the landlord. Often, renters don’t realize that their lease
is negotiable. Look through the agreement and discuss each clause. A lease
agreement should clarify all of the tenant’s rights and obligations.
Do your research, negotiate a deal, and always have an exit plan. The
process of renting a commercial property can feel overwhelming, but if you take
the time to consider the factors that will affect your business, you could save
yourself from a bad business deal and improve your chances of long-term
success.
Friday, December 27, 2019
A Guide to Landlord-Tenant Responsibilities - Steven Taylor
A Guide to Landlord-Tenant Responsibilities
Many investors decide
to become landlords without considering the extensive responsibilities
involved. Some even assume those responsibilities will fall on the tenant.
Depending on the laws in your area, you will likely be responsible for keeping
your building up to standards that will keep your tenants safe and clean. You
will have to respond to requests for maintenance in a length of time that is
considered reasonable.
Tenants also have
certain responsibilities, which can be determined by the lease contract and
also by law.
When deciding to become
a landlord, you should first consult an attorney to determine the laws and
requirements that affect you and your local area. As a building manager, it
will benefit you to discuss how responsibilities are divided with tenants upon
move in. This will ensure that expectations are clear.
Note: This
article is for educational purposes only. I do not make any guarantees that the
responsibilities in this article are compliant with current or local laws.
Always consult an attorney in your area.
Responsibilities of the Landlord
In
general, a landlord is responsible for keeping their building clean,
functioning, and safe. Many areas have codes and laws that specify standards
for building construction, standard of living, and maintenance. You can find
more specific regulations for your state here.
Ensure habitable conditions
As a landlord, you are
expected to check maintenance regularly and repair your property upon demand.
In some local areas, there are further requirements including:
● Upkeep of
common areas
● Providing
receptacle for trash disposal
● Correcting any
infestations of vermin or bugs.
● Keeping the
property’s structure safe and intact
● All electrical,
sanitary, ventilation, plumbing, and other required equipment in order
●
Disclosing all history of environmental hazards
to tenants
Enforce a quiet environment
Part of your job as a
landlord is ensuring that your residents don’t disrupt others. Many include a
clause in their lease that requires tenants to maintain a noise level that is
reasonable for evening hours with consequences for disturbing other residents.
Provide tenant safety
As a landlord, your
responsibility to provide tenants with safety standards can be a legal
requirement (depending on the local law). There are many ways you can help
ensure your tenant’s safety. Here are a few:
● Screen all prospective tenants. Use an
application and background check to screen tenants before move-in. You can also
ask for references.
● Always give notice of entry. You must keep
units up to standards, but when performing maintenance, you must follow local
laws in regards to notice that must be given before entering a unit. Most
states have a standard of 24 or 48 hours notice before entering a rental, but
requirements can vary in an emergency.
● Maintain building locks. It is important
to re-key locks for new tenants, and keep locks on building doors and windows up
to date.
●
Provide safety
equipment. Your building must have functioning smoke and carbon monoxide
detectors that are in proper condition.
Please review the
landlord responsibility standards for your state and local area for further
requirements.
Responsibilities of the Tenant
The tenant is usually
responsible for ensuring that their unit stays in good condition. They are also
expected to report any issues or damages to the landlord. Here are a few
responsibilities that often are required of the tenant:
Maintain unit cleanliness
Typically, tenants are
responsible for keeping their rental unit clean and sanitary, including:
● Discarding
trash
● Preventing the
growth of mold
● Preventing
excessive buildup of dirt, rust, scum, and grime on surfaces
●
Maintaining appliances
Avoid excessive damages
Tenants should avoid
causing damage to their unit. While a certain level of wear and tear is
expected, the property should be maintained at the condition level at the time
of move-in. Some local laws enforce tenant liability in cases such as:
● Removal of fixtures
● Violation of
occupancy rules
● Blocking
emergency exits
● Damage caused
by fire
● Tampering of
smoke or carbon monoxide detectors
● Using premises
for unlawful purposes
●
Damage from pet violations
Report issues in a timely fashion
Tenants are required to
let their building manager know about any required maintenance as soon as
possible. If there is an issue that the tenant fails to report to the landlord,
they may be liable for further damage.
Landlords should
conduct a walk-through with tenants before move-in to acknowledge any issues or
necessary repairs, and document current conditions. It is the responsibility of
the tenant to maintain a copy of their checklist in order to avoid any
liability at the end of their lease term. Many damage charges that fall outside
the scope of wear and tear can often be covered by a security deposit.
Consult laws for your
local area for further tenant responsibilities. - Steven Taylor, Landlord in LA
Friday, December 20, 2019
Wednesday, November 27, 2019
Thursday, November 21, 2019
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