When it comes to big office buildings, it is essential to remember that they require regular maintenance checks if you want them to run smoothly. There are many things that can go wrong if the proper care isn’t taken, and it can end up costing your business a lot of money. This blog post will discuss some of the most necessary maintenance checks that need to be done in significant office buildings. It will also talk about the consequences of not doing these checks regularly! 1) Air conditioning and heating:  In the summer months, the air conditioning system in your office building needs to be checked regularly. Otherwise, it could break down and cause a lot of discomfort for your employees. Likewise, in the winter months, the heating system needs to be checked to make sure that it is working properly. If it isn’t, you could have to pay for expensive repairs. Consequences of not checking: If the air conditioning system breaks down in the summer, then your employees will be very uncomfortable. This could lead to them taking days off work, which will cost your business money. Likewise, if the heating system isn’t working properly in the winter, then your employees will again be uncomfortable and may take days off work.  2) The roof:  The roof is one of the most important parts of an office building, and it needs to be checked regularly to make sure that there are no leaks. If there are leaks, then they need to be repaired as soon as possible. Otherwise, the water damage could cost your business a lot of money. Consequences of not checking: If you don’t check the roof regularly, then you could end up with water damage in your office building. This will cost you money to repair, and it could also lead to mould growth.  3) The lifts:   If your office building has lifts, they need to be checked regularly to ensure that they are working properly. If the lifts aren’t working properly, then it could cause a lot of inconvenience for your employees. So hire a UK lift company to do regular maintenance checks. Consequences of not checking: If the lifts in your office building aren’t working properly, then your employees will have to take the stairs. This could lead to them being late for work or missing important meetings.  4) The plumbing:  The plumbing in your office building needs to be checked regularly to ensure no leaks. If there are leaks, then they need to be repaired as soon as possible. Otherwise, the water damage could cost your business a lot of money. Consequences of not checking: If you don’t check the plumbing regularly, you could get water damage in your office building. This will cost you money to repair, which could also lead to mould growth.  Regular maintenance checks are essential for significant office buildings. Without these checks, things can go wrong very quickly, and it could end up costing your business a lot of money. Make sure that you hire a professional company to do these checks for you. 

Buying a house is one of the largest investments for many people. Housing prices are high, and many regular people have to save for a down payment for a few years before they can purchase a house. When they start looking for properties, they also realize that there are closing costs that must be paid for at the time of closing the deal. Even though many people are aware of the costs, some may be surprised how much exactly they are charged for the closing costs. Especially when moving from one state to another, it is important to be ready for the changing fees that will affect the costs of closing on a deal. For this reason, calculating closing costs may be very beneficial for buyers to estimate and prepare for the payment. On average, a buyer should expect to spend 2% to 5% of the house price on the closing costs. On the other hand, this may be a large range in dollar amount if a buyer is looking for a property in a high-density area such as New York or San Francisco. For example, if a buyer is looking at a property for $800,000, then they should expect to spend on closing costs from $16,000 to $40,000. Finding an extra $26,000 for closing costs in a short time frame may be problematic for many buyers, so it is important to estimate how much they should expect to pay for these costs more precisely. Because of this, it might be beneficial to understand what closing costs include and see how a buyer can save on the items listed in them. Closing Costs Breakdown The items included in closing costs may be categorized in different ways. For the purpose of this article, which is to understand how much a buyer should expect to pay in closing costs and whether it is possible to save on some of these costs, the costs can be categorized into negotiable and non-negotiable. The negotiable part of the closing costs usually consists of the services that third parties provide to buyers and sellers during the deal process. These services may include the following: title insurance, lawyer fees, loan origination fees, home inspection fee, etc. These fees are charged by private companies that compete with each other. The presence of competition allows the buyers to have some power over the price they charge, so if a buyer feels like the price for a certain service is too high, it might be possible to negotiate the price down. This allows a buyer to lower the final price by negotiating closing costs. There are also a few non-negotiable fees that a buyer will have to pay regardless of whether they think it is a fair price or not. These fees include an appraisal fee, prepaid interest on a loan, property tax, and HOA fees when applicable. The good news is that these fees usually take up around 30% of the total closing costs, which means that around 70% of the closing costs can be negotiable. Who Pays the Most Closing Costs? Even though many fees can be negotiated with the service providers, if there is not a lot of competition for providing these services on the market, the fees may be very high and very difficult to negotiate. Because of that, different states may have different closing costs, so a buyer should consider market conditions specific to the state they are planning to buy a house in. Of course, it is also important to understand that the fees charged for many services are based on house characteristics such as house price or square footage. Since there is a large difference in house prices between the states, it is important to look at how much closing costs a buyer should expect to pay as a percentage of the sale price. Below, there are 5 states listed that have the most expensive closing costs as a percentage of an average house price. Most Expensive Average Closing Costs by State: Delaware – 5.9% The surprising part of this list is that Delaware is considered the most expensive state for closing costs as a percentage of the sale price. This is due to high taxes applied at the purchase of the property. Taxes associated with buying a house may account for up to 80% in Delaware. Pennsylvania – 4.21% Pennsylvania usually has the second-highest closing costs in the country which are lower than the average closing costs in Delaware by around 1.7%. It is important to note that it is only the average value. Some people may pay much more if they do not shop around for a better price. District of Columbia – 4.13% A similar story with Washington, DC. They also have high state taxes applied to the buyers during the closing process. In addition to high closing costs, their properties tend to be priced much higher than the national average. To counter high taxes, DC has one of the lowest appraisal costs in the USA which is almost half as much as the highest paying states pay for such service. Maryland – 3.3% Even though Maryland’s average closing costs are lower by quite a bit compared to the District of Columbia, the reason for such high closing costs is the same. The state government takes up a large portion of closing costs through taxes. New York – 3.01% New York is also heavily taxed when it comes to the purchase of property. It is important to note that these taxes may increase very dramatically when a property price surpasses a certain amount. The tax itself also depends on what region an individual buys a house in. A property that is worth less than $700,000 in Manhattan may have to pay more in taxes than a property worth over a million dollars in the Bronx simply because they are located in different tax regions. Regardless of where you live and where you decide to buy a property, there will

Choosing the right construction management software is one of the biggest challenges for construction managers. This is made even harder by the fact that they have to come up with a list of features that they need in their software. Technological advancement has not made this any easier. We have multiple new technologies every time coming into the construction industry, meaning the selection process is more difficult. What should you look at when choosing a construction management software? Even though the cost is one of the main factors, there are other things to look at before deciding on the best software to use. They include; Your Specific Needs It is challenging to find a solution that fits the needs of every construction manager. You, therefore, need to look at your specific needs and choose a construction management software that addresses those needs. However, as seen on Archdesk’s construction management software, there are three categories that a good construction management software should have. These include issue tracking, project portfolio, and construction estimation management. Issue tracking helps in the monitoring, management, and elimination of bugs and issues. Project portfolio features help in the reduction of performance risks through cost tracking while construction estimation integrates various features with the finance department. Evaluate Features After looking at your specific needs, you will be able to identify the features that you need in your construction management software. You do not need management software that comes with multiple features yet you use just a couple of them. To evaluate the features that you need effectively, look at the current software that you have – if you have any. Identify the features that you would add if given a chance. These are the features you need in your software. In addition, determine the number of people who would use these features. You do not want to pay exorbitant fees for a feature that will only be used by a few or even one person. Ensure that you choose the right features to streamline your construction projects. Integration and Deployment How would you feel when using a software application with a poor user interface? Chances are that you would look for another application that does the same job. Similarly, the right construction management software should come with a good user interface. This makes things easy for project managers and any other team members using the management software. You also need to look at any other applications that you want to integrate with the management software. You should enjoy the benefits of enterprise application integration with the right construction management software. The deployment process should also be easy, and every construction manager should be able to do everything with little or no help at all. Scalability Most construction projects start with a plan. The project owner knows what the final product will look like and understands everything that will be needed along the way. However, this is not always the case. Sometimes, a construction project takes a different route or rather goes out of plan. You might be required to add more features to the project to accommodate the changing needs of the project owner. When that happens, you need construction management software that can adapt to the changing requirements. This means that the software you choose should be scalable enough to accommodate any changes. Security and Safety As technology advances, so do the techniques used by cybercriminals. They are adopting new techniques to beat every new security feature. Even though their success rate is low, most businesses have been affected. The construction industry is targeted by online criminals, and your construction management software stores a lot of information. This might include the project details, financial information, and team members’ personal information. All this needs to be protected. When choosing a construction management software, make sure that you choose one that values data protection and implements modern security techniques. In addition, make sure that your data is encrypted at all times.  In conclusion, the success of your construction project depends on the tools and the skills of your team members. One of the most important tools is the construction management software that you use. Follow the tips discussed above to ensure that you choose the right one.

For business owners, accumulating a backlog of projects is a significant roadblock. Understanding how to effectively use social media to generate leads and opportunities is critical for a construction company’s success. Instagram is yet another marketing tool that can promote your company, regardless of the industry you belong to. You can share content in a variety of ways on the platform. With the help of Instagram Business, building firms can do just that. Companies can see their accounts’ activity in real-time, including stories, posts, and followers. Business accounts also can create, launch, and track advertisements. Are you thinking about expanding your construction business? Instagram growth might be exactly what your company requires. Engage With Your Audience You demonstrate your willingness to go above and beyond by using social media platforms to respond to online inquiries or share exciting news updates. You can connect with your target audience on Instagram by following, liking, and commenting on their photos. Remember that the higher the level of engagement, the more likely you are to develop strong brand ambassadors who’ll continue to use your services while recommending them to others. Instagram allows you to think visually and creatively about how you want to present your content. Whether it’s to show how your product works in real life, keep your followers up to date on a renovation project, highlight points from an architect interview, or build excitement for an upcoming launch campaign. Tools like Buy Real Media can help you keep up with engagements and connect with your audience. Use Hashtags Smartly To attract the right audience and grow your following, use hashtags wisely. While there’s much debate about the relevance of hashtags across social media platforms, they’re essential to include in Instagram posts to maximize exposure and ensure that the right people see your updates. Find trending keyword hashtags that accurately describe or align with your brand or products using hashtag tools. Product category keywords like ‘timber doors’ or ‘aluminum doors,’ simple brand category keywords like ‘doors’ should all be included. It’s a good idea to go over keyword hashtags every few months to ensure you don’t miss a new one that’s trending in your industry. Create Videos Use time-lapse and accelerated videos of construction sites to increase viewership. On construction sites, drone footage is also gaining popularity. Instagram now supports live video in stories in addition to regular posts. You can include a tour of your office or a walk-through of a new project in your presentation.  You can also include a countdown reminder in your stories, allowing interested viewers to set reminders to watch your live video or reels. You can also share your live video on your social media accounts for those unable to attend.  Maximize Your Visuals Construction companies have a lot to offer on Instagram. Instagram is a very visual platform, and its users are enormous fans of transformation and progress photos. Instagram has a lot to offer if your construction company is willing to try something new. If you work in construction daily, you may be unaware of how fascinating your surroundings are. While mundane to you, scenes like a hammer lying in gravel surrounded by nails or an excavator arm tearing into the ground are pretty spectacular to others. Use Instagram’s built-in filters to improve the visual appeal of your photos. A construction site could be ideal for some truly unique Instagram photos. Post Regularly It can be challenging to post as frequently as you should, but regularly posting and creating stories can pay off. Because most users follow hundreds of other users and businesses, your posts will most likely be buried in their newsfeeds within hours. As a result, you should schedule your Instagram posts at least 3-5 times per week if you want them to be seen. If you don’t have time to handle this task yourself, consider delegating it to a social media savvy employee. It can increase their productivity, often being a problem in construction companies. Utilize Stories Instagram stories are a great way to show off what’s new in your company. There are also a variety of Story stickers available for communicating with your audience. Because responses to your Stories are delivered directly to your inbox, it’s a fantastic tool for communicating directly with your audience. While stories are only visible for 24 hours, you can save them to your highlights to keep them visible indefinitely. Additionally, it provides excellent branding opportunities. Your followers will be able to view previous Stories by clicking on your profile highlights. Takeaway In such a visually-oriented industry, photographs and videos serve as a visual representation of your work. Take a photo, do some quick editing, or use one of the many Instagram filters to enhance your image. It doesn’t have to be difficult to market on Instagram. You only need a social media strategy and a set of platform-specific goals. Increase the connection between you and your audience and brand awareness and leads.

While property development can be a very profitable pursuit, many developers find themselves limited by poor cash flow. That’s because the nature of property development dictates that cash flow events occur in large single events, when a property sells, rather than through consistent, smaller returns, as is the case with most businesses. In this article, we will introduce what development exit finance is, how it can be used to improve cash flow for developers, the pros and cons of doing so and the alternatives available. What is development exit finance? Development exit finance is a type of bridging loan that is used to repay development finance as a property development project nears completion, usually raising additional capital for the developer. Lenders are usually happy to offer development exit finance once a property is wind and watertight. While this is a general rule, some lenders are happy to offer development exit finance earlier than this, and others will only lend once practical completion sign-off has been achieved. This type of finance is commonly used for two main reasons:- 1. To release equity back to the developer, which can either be used to manage any cost overruns on the project or to fund the acquisition of the next project. 2. To allow the developer to extend the term remaining on the existing development finance facility, ensuring there is sufficient time to secure a premium price for the completed units. 3. As the interest rates charged on development exit finance is lower than those offered by development finance lenders, it is often used to reduce interest charges. How does it work? A development exit loan is arranged over a set term, often between 6-12 months, with the interest rolled into the loan. This means there are no monthly payments to make. As the properties sell, a portion of the loan is repaid from each sale, reducing the loan by either 100% of the net sale price, or the agreed loan to value (LTV) ratio. The level of repayment is usually agreed upon upfront, although it can be renegotiated on occasion should things change. While interest is usually set aside for the whole term, it is usually rebated to the borrower in the event of sales coming in before the term end. What does it cost? Rates start from 0.4% per month and are usually between 0.4-0.75%. The rate charged depends on the security type, location, current build state and the loan to value requested. Applications that are wind and watertight and at a low LTV will usually receive the best interest rates. In addition to the interest charged, lenders usually charge an arrangement fee for arranging development exit finance. This usually costs 1-2% of the loan and must be factored in. How can it be used to improve cash flow for developers? In simple terms, development exit finance allows developers to save money on their finance costs and release cash from a project before it sells. This allows the developer to ‘keep the wheels turning’ rather than having to wait for a large, single cash flow event. While many development finance lenders allow borrowers to finance up to a maximum of 55-65% of the end value of the scheme, development exit lenders offer between 75-80%. This additional money can be the difference between being able to secure the next project, or missing out while waiting for their completed units to sell. What are the pros and cons? While development exit finance can be a great help to property developers, as with everything, there are pros and cons to consider. Pros ·        Development exit finance is great for cash flow. ·        It’s cheaper than property development finance, saving you money. ·        It allows you to take your time when selling your completed stock, potentially leading to you securing a better price. ·        It can lead to increased profits by allowing you to move on to your next project quicker. Cons ·        While it’s cheaper than property development finance, there are still costs involved. ·        There is an application process that, while simple, still takes up some of your time.

We are used to buying software for our businesses and simply uploading it and getting used to using it. Yet there is something you consider when purchasing software that will be used by clients. We’re talking in this article about the whitelabel app and software package, and why you should be considering white label software. What is white label software, and why are you missing a trick if you don’t use it? Let’s begin with a brief explanation of white label software and other white label goods.  What is White Label Software? White label software is a software package made by a developer yet not branded with their brand name. Let’s use an example of another type of white label product. Go to your local grocery store – choose a well-known range – and find their ‘own label’ canned foods. These are usually the budget range of essential goods. Now, they are all branded with the store chains name and in their colors. Yet, these goods are not made especially for the store chain. They are simply branded goods – generally a well-known make – but labelled especially for the store. Another example could be you buying in goods branded with your name as give away gifts.  Now, with branded software, instead of it saying – let’s choose a famous brand for the example – Apple, it comes to you without branding ready for your brand name to go on there. What are the benefits of white label products and software? We want to talk about software specifically, as while branded store goods are usually for budget reasons, software is for a different reason altogether.  How Will White Label Software Benefit my Business? The recent couple of years of turmoil have had some surprising effects on the world of commerce. Many small businesses did not make it through the pandemic, and for many other people the need for change was apparent. Furthermore, a lot of people discovered that working from home is actually productive and convenient. In the wake of this a lot of small businesses have launched online.  Let’s imagine that you are a professional therapist. You offer video consultations for your clients. They use a booking system whereby they choose a slot on a calendar that they access with a password. This software is bought off the shelf and comes with the developer’s brand name all over it. So, every time a client books a slot – or uses software for other reasons – the developer’s brand name is there to see. But you don’t want that! Not only do you not want to advertise their brand for free, you want your brand to be consistent throughout all visible applications. This applies to accounting software, your video app, and so. Consistent branding across the board shouts of professionalism and attention to detail, rather than the lazy image of a software company’s brand taking up valuable space. Some of your clients will not notice it but believe us when we say that a good proportion will. Consumers like to see that professional approach as it gives them further reason to trust your brand.  Using White Label Software Using white label software means paying for a licence, but the benefit far outweighs what will be a minor outlay. We are not just talking about therapists here but other online professionals, plus hotels and restaurants, even shops and cafes. Anywhere that uses software from another supplier should definitely consider the white label option. Ultimately, your goal is to make your brand one that people see as trustworthy and professional, so check out white label software now and get your brand across the board. 

Managing a business, whatever the scale or size, requires dedication, time, and money. Most of the time, you need to create effective strategies and methods to keep your head above water and stay ahead of the competition. No matter your short or long-term goals, you want your business to be successful at all costs. As most entrepreneurs are aware, a business may face a lot of risks. In some cases, risks are hard to avoid; some are unprecedented or simply unanticipated. To prevent your business from getting hurt, it’s a sound investment to have commercial insurance coverage. This gives you peace of mind that doesn’t equate to any monetary value. If you’re still on the fence about whether to opt for commercial insurance or not, check out more reasons below why they’re needed for your operations: Legally Required Depending On Your State  Most states require businesses of all sizes to have insurance coverage. If you don’t carry the necessary coverage, you may be subject to fines and penalties. And besides, it could cost your business a lot more than the sum total of your insurance premiums if something unexpected happens, like an accident or a catastrophe.  On the other hand, even if you live in a state that doesn’t require it, it’s still best to get commercial insurance to avoid unnecessary expenses later on. This coverage can help you if a customer decides to sue you due to dissatisfaction or unsettled conflict. Some insurance policies also cover fire incidents to help cover the cost of damage to property. The insurance industry evolves with time, so you can access the best coverage for your needs.  Helps Your Business Run Smoothly  An accident or disaster can happen anytime. If and when it does happen, your business may lose a hefty sum of money if it doesn’t have insurance coverage. Business owners can use insurance to protect themselves against loss of income when faced with a major disaster.  Your business won’t be bankrupt since you’ll continue to have funds to restart operations. As a result, it’ll help you run your business smoothly even after a fire or disaster.  Depending on your policy, your insurance may cover your operational costs like rent and utilities. You’re definitely getting more of your money’s worth considering the monthly insurance premium you’re paying. Protects Your Employees  One of the most critical priorities for small business owners is employee satisfaction. Having liability insurance for your employees is a wise decision. Additionally, they’ll feel more secure and protected in case something unexpected happens, like a job-related injury or illness.  Also, this helps to attract high-quality candidates and prospects. Employees who are well-experienced in your industry will prefer to work with you because you cover insurance for all employees. If you add health or dental insurance, they’ll feel more attracted to work for you. As a result, your team will grow, and your employees may be motivated to work harder.  Protects Your Sensitive Data  New technology is constantly emerging, and state-of-the-art tools will make your business run more efficiently and quickly. Unfortunately, these technological innovations give rise to threats of cyberattacks and exploitation of these changes. Therefore, any business that relies on tech tools and software should get commercial insurance coverage. Keep your insurance policy up to date with privacy breach coverage. If personal information is lost, stolen, or accidentally shared, you’re protected against liabilities.  Protects Your Business From Disaster Or Theft  A business without insurance may not be able to afford repairs or replacements in the aftermath of a natural disaster. But with adequate insurance coverage, your business will be able to recover faster from losses due to a catastrophe or theft.  Therefore, small companies without the capital to completely replace damaged or destroyed assets should consider getting insurance.  Improves Your Brand Credibility  Many businesses go for commercial insurance to improve their brand credibility, and it’s enough reason. After all, so many new companies are sprouting here and there, finding it easy to stay ahead of you. Therefore, you must act smart in establishing your company’s credibility. Fortunately, commercial insurance can do that.  You can show prospective customers and clients that you’re a trustworthy business by having insurance. The work you do for them comes with a compensation plan if something goes wrong. Many customers would want to go for a licensed and insured business, and if that’s what you offer, you’ll be assured that you can continue your business for a long time. Helps With Lawsuits  In the event of a lawsuit, you could quickly lose your business if you don’t have liability insurance. In addition, even if you win the case, you’ll still have to pay costly legal fees. Commercial insurance can help you in such a messy situation.   Whether you’re being sued by an ex-employee or by a client, lawsuits can be expensive, and it’ll all come directly from your company’s account. Your business might not have enough funds to deal with a lawsuit, so it’s better to think ahead and plan for this possibility.  Effective Backup Plan  A successful business should always be prepared with a contingency plan. Having insurance is your plan B when you can’t operate and generate revenues due to accidents or disasters. You can also choose optional coverage to guarantee that payroll will be met during a specific period.  Insurance can help cover lost income and day-to-day operating expenses. Your insurance provider can compensate for the interruptions. Since disasters happen more and more, it’s best to include insurance in your business continuity plan.  Nobody knows what the future brings, so it always pays to be ready for anything. So, be prepared for disasters, accidents, or even theft by getting commercial insurance.   Conclusion  Business insurance allows small business owners to focus on what they do best without worrying about issues that may arise. Nothing beats the feeling of security and having peace of mind when things go wrong.  Commercial insurance coverage will allow you to get back on your feet after your

If you are running a construction business, then you always need to be aware of the storms that could be just over the horizon. There are countless examples of challenges that you could face running your construction company in the future. Here are some key possibilities you should consider. Low Levels Of Productivity It is possible that one of the problems you could face with your construction business in the future is a low level of productivity. There are countless reasons why productivity levels might be low. For instance, you may find that it’s due to issues with your team. If so, it could be worth thinking about refreshing your team and recruiting a new group of workers. Alternatively, it could be because you have fallen behind in terms of the technology you should be using. A lot of construction businesses now have a cloud server integrated into their company model.  Equipment Shortage Another factor that you should consider is whether you might struggle to source certain equipment you need for projects. Particularly, if you are working to a tight deadline. Some equipment like block paving extractor tools are easy to find from the best suppliers. However, there are others which are going to be more difficult to get because they use complex technology. Certain microchips are currently not being made at the level to match the demand due to the backlog from COVID-19. As such, it’s likely that you may struggle to get at least some forms of equipment. You may need to improvise here.  Skill Shortage  Due to an aging workforce as well as other mitigating factors, it’s likely that the construction industry will face a skill shortage over the next few years. One of the ways that you can deal with this is by ensuring that your business is accessible and exciting for young team members. You need to ensure that there are structures in place which will allow them to grow and thrive in their roles. It’s also important to make sure that you are investing in training for your team. Particularly as technology becomes more integrated into the construction process.  Heavy Costs Finally, due to problems including inflation and the rising price of fuel, construction businesses could face significant costs in the future that they will need to handle. It will be more important than ever before to ensure that companies do get costs under control and manage them more effectively. One of the ways that they can do this is by hiring an accounting solution. The right service will mean that construction companies can keep track of their costs in real time. This will mean that they can avoid a disaster with mounting expenses that aren’t even noticed.  We hope this helps you understand some of the common challenges that you may struggle with when running your construction company over the next few years. By taking the right steps here, you can guarantee that your business is on the right track and does not fall behind the competition.