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Most entrepreneurs and new business owners will invest in at least minimal coverage when they first start operating their companies. However, like homeowners and drivers, business owners may become complacent too quickly about the kind of coverage they have. Frequent, if not annual, reviews of insurance coverage can benefit your business. Unfortunately, is easy to put off such reviews because you may want to avoid the hard sell so common with insurance agents. An attorney can also help you identify points of liability for your business and appropriate amounts of coverage. If your company has grown or changed the kind of services or goods it provides, you may need to adjust the insurance you carry to reflect those changes. There are many kinds of business coverage available General business liability protection often isn’t enough. Do you provide guidance to clients as a real estate agent? If so, there is errors and omissions coverage that will protect you from claims that you gave bad advice or made a mistake on the sale paperwork that cost your clients thousands. If you produce physical products, you may need product liability coverage. As you start hiring workers, you also need to look at what kind of workers’ compensation coverage you carry, as well as your premises liability coverage for visitors to your facilities. Business interruption insurance can also be crucial, as you never know when you may have to cease operations and face diminished revenue while still needing to pay the same monthly bills. The right coverage will minimize your operational risks Running a business means investing your time and money to create profit for yourself and any shareholders invested in your company. A lawsuit by an injured worker or a customer who claims the design of your most recent product was defective could devastate your business and even force you to close its doors. The right insurance coverage will protect you by compensating individuals who claim your business caused them harm and by advocating on your behalf when settling those claims. Reviewing your current business insurance and identifying where you may not have enough coverage can protect you from the financial risks that come from doing business.

Most entrepreneurs and new business owners will invest in at least minimal coverage when they first start operating their companies. However, like homeowners and drivers, business owners may become complacent too quickly about the kind of coverage they have. Frequent, if not annual, reviews of insurance coverage can benefit your business. Unfortunately, is easy to put off such reviews because you may want to avoid the hard sell so common with insurance agents. An attorney can also help you identify points of liability for your business and appropriate amounts of coverage. If your company has grown or changed the kind of services or goods it provides, you may need to adjust the insurance you carry to reflect those changes. There are many kinds of business coverage available General business liability protection often isn’t enough. Do you provide guidance to clients as a real estate agent? If so, there is errors and omissions coverage that will protect you from claims that you gave bad advice or made a mistake on the sale paperwork that cost your clients thousands. If you produce physical products, you may need product liability coverage. As you start hiring workers, you also need to look at what kind of workers’ compensation coverage you carry, as well as your premises liability coverage for visitors to your facilities. Business interruption insurance can also be crucial, as you never know when you may have to cease operations and face diminished revenue while still needing to pay the same monthly bills. The right coverage will minimize your operational risks Running a business means investing your time and money to create profit for yourself and any shareholders invested in your company. A lawsuit by an injured worker or a customer who claims the design of your most recent product was defective could devastate your business and even force you to close its doors. The right insurance coverage will protect you by compensating individuals who claim your business caused them harm and by advocating on your behalf when settling those claims. Reviewing your current business insurance and identifying where you may not have enough coverage can protect you from the financial risks that come from doing business.

If you own a rental property, you probably understand that being a landlord comes with its fair share of responsibilities and obligations. Besides collecting the rent, a landlord is also a salesperson, a repairman and a conflict solver. Here are some of the obligations that come with being a landlord in California: Ensure the property’s habitability It is the job of the landlord to ensure that the rental property is fit for habitation. That means the rental property must be devoid of hazards and defects. The property must also meet all the local and state building and health codes. Basically, a livable house should offer the following: Protection from elements with a functioning roof, walls, doors and windows Safe electrical system HVAC access Safely maintained floors, stairways and rails A working plumbing system Ensure the safety of the tenants As a landlord, you want to ensure that your tenants and their properties are safe from crime. You can realize this by taking simple steps like installing security lights in dark areas and providing sturdy locks on doors. Basically, preventing crime begins with screening potential tenants before letting them into the property. For instance, checking if a potential tenant has a violent criminal record can help keep other residents safe. Property maintenance Not every property defect is the responsibility of the landlord. For instance, damages occasioned by the tenant should remain their responsibility. However, it is the job of the landlord to ensure that the property is structurally sound and not run down. Remember, ignored repairs are likely to become safety hazards, and this can lead to serious consequences. Knowing your landlord obligations can help prevent most landlord-tenant disputes. When disputes do happen, make sure that you obtain experienced legal guidance.

If you own a rental property, you probably understand that being a landlord comes with its fair share of responsibilities and obligations. Besides collecting the rent, a landlord is also a salesperson, a repairman and a conflict solver. Here are some of the obligations that come with being a landlord in California: Ensure the property’s habitability It is the job of the landlord to ensure that the rental property is fit for habitation. That means the rental property must be devoid of hazards and defects. The property must also meet all the local and state building and health codes. Basically, a livable house should offer the following: Protection from elements with a functioning roof, walls, doors and windows Safe electrical system HVAC access Safely maintained floors, stairways and rails A working plumbing system Ensure the safety of the tenants As a landlord, you want to ensure that your tenants and their properties are safe from crime. You can realize this by taking simple steps like installing security lights in dark areas and providing sturdy locks on doors. Basically, preventing crime begins with screening potential tenants before letting them into the property. For instance, checking if a potential tenant has a violent criminal record can help keep other residents safe. Property maintenance Not every property defect is the responsibility of the landlord. For instance, damages occasioned by the tenant should remain their responsibility. However, it is the job of the landlord to ensure that the property is structurally sound and not run down. Remember, ignored repairs are likely to become safety hazards, and this can lead to serious consequences. Knowing your landlord obligations can help prevent most landlord-tenant disputes. When disputes do happen, make sure that you obtain experienced legal guidance.

You may have been told by someone you know not to invest in property because of some problems they had with commercial real estate. While you can’t know for certain if you’ll have the same issues, you may be able to resolve some of that tension by separating fact from fiction when it comes to commercial real estate: 1. Myth: It’s better to build than to buy a building There are many pros and cons when it comes to buying land on which to build, but the same can be said about buying a building. Buying land may not necessarily mean you’ll have an advantage over an already established building. Depending on what you want to use your investment for you might need to consider your own reasons for your purchase. 2. Myth: Commercial real estate investment is only for the rich Nearly anyone can invest in real estate – it isn’t just for people with lots of spare money. Unlike rich people, you may need to reach out to a bank or lender to help you invest in real estate. 3. Myth: It’s too late to invest in real estate Whether it’s because of the market or because of your age, it’s never too late to invest in real estate. There may be times of the year when it’s better to invest, but real estate values are always going up. 4. Myth: Legal problems with real estate only occur after a purchase Many people who invest in real estate encounter legal problems. These problems may be caused by lenders or sellers. If you’re looking to invest in real estate and avoid legal difficulties, then you may need to reach out for legal help who can provide you with your options and protect your interests.

You may have been told by someone you know not to invest in property because of some problems they had with commercial real estate. While you can’t know for certain if you’ll have the same issues, you may be able to resolve some of that tension by separating fact from fiction when it comes to commercial real estate: 1. Myth: It’s better to build than to buy a building There are many pros and cons when it comes to buying land on which to build, but the same can be said about buying a building. Buying land may not necessarily mean you’ll have an advantage over an already established building. Depending on what you want to use your investment for you might need to consider your own reasons for your purchase. 2. Myth: Commercial real estate investment is only for the rich Nearly anyone can invest in real estate – it isn’t just for people with lots of spare money. Unlike rich people, you may need to reach out to a bank or lender to help you invest in real estate. 3. Myth: It’s too late to invest in real estate Whether it’s because of the market or because of your age, it’s never too late to invest in real estate. There may be times of the year when it’s better to invest, but real estate values are always going up. 4. Myth: Legal problems with real estate only occur after a purchase Many people who invest in real estate encounter legal problems. These problems may be caused by lenders or sellers. If you’re looking to invest in real estate and avoid legal difficulties, then you may need to reach out for legal help who can provide you with your options and protect your interests.

Experienced stock investors in Southern California know that real estate investment trusts (REITs) are generally a sound investment and have been doing well. Those who wisely chose to invest in REITs have likely seen favorable returns this year and over the past decade. However, exercising some caution may also be wise in the coming months as market analysts predict next year may not be quite as lucrative. Why are REITs popular? REITs have made investing in real estate possible for people who want a piece of the market but don’t want to manage their own income properties. They have historically produced high yields because of the relatively low tax burden placed on companies that own income real estate. Coupled with low interest rates, investors have been able to use REITs as a strong and reliable source of income. With a possible rise in interest rates looming on the horizon, however, experts have expressed concern over the future of REITs. Uncertainty in the face of increased interest rates Many market analysts are predicting that the Federal Reserve will increase interest rates in 2017. For REITs, this could mean declining performance. Historically, low interest rates correlate with higher returns in the stock market, making stocks more appealing than bonds. If interest rates do increase, it could drive up the price-earnings ratio of REITs, scaring away some investors. While a sharp interest rate increase could mean trouble for REITs, they could remain stable through a more gradual rise. Because increased interest rates are typically the sign of a strong economy, investors may still be attracted to the benefits of REITs, even if they are not quite as profitable in the future. What is next? The next step for investors is to wait and see whether the Federal Reserve decides to raise interest rates. For businesses that could be negatively affected by an interest hike, the waiting period is an opportunity for preparation. If you are concerned that your company could be impacted, it may be wise to consider seeking legal guidance before a change is announced.

Experienced stock investors in Southern California know that real estate investment trusts (REITs) are generally a sound investment and have been doing well. Those who wisely chose to invest in REITs have likely seen favorable returns this year and over the past decade. However, exercising some caution may also be wise in the coming months as market analysts predict next year may not be quite as lucrative. Why are REITs popular? REITs have made investing in real estate possible for people who want a piece of the market but don’t want to manage their own income properties. They have historically produced high yields because of the relatively low tax burden placed on companies that own income real estate. Coupled with low interest rates, investors have been able to use REITs as a strong and reliable source of income. With a possible rise in interest rates looming on the horizon, however, experts have expressed concern over the future of REITs. Uncertainty in the face of increased interest rates Many market analysts are predicting that the Federal Reserve will increase interest rates in 2017. For REITs, this could mean declining performance. Historically, low interest rates correlate with higher returns in the stock market, making stocks more appealing than bonds. If interest rates do increase, it could drive up the price-earnings ratio of REITs, scaring away some investors. While a sharp interest rate increase could mean trouble for REITs, they could remain stable through a more gradual rise. Because increased interest rates are typically the sign of a strong economy, investors may still be attracted to the benefits of REITs, even if they are not quite as profitable in the future. What is next? The next step for investors is to wait and see whether the Federal Reserve decides to raise interest rates. For businesses that could be negatively affected by an interest hike, the waiting period is an opportunity for preparation. If you are concerned that your company could be impacted, it may be wise to consider seeking legal guidance before a change is announced.

In industry after industry, digital technology has changed the game in countless ways. From music (iTunes) to retail (Amazon) to the emerging internet-of-things, the changes have been pervasive and downright breathtaking. What about real estate? The ramifications of the online revolution are certainly affecting real estate development as well, such as in the rising risk of cyber attacks. What should developers be doing to manage these risks? In this post, we will address that question, using a Q & A format. Why would real estate development be affected by cyber attacks? New developments offer increasing levels of technological functionality, with ever-smarter computers to automate operations and connect buildings to sophisticated electronic grids. With these enhancements come a corresponding increase in the risk of cyber attacks. As we noted in our August 1 post, cyber risk management is therefore becoming more and more important. What are some of the cyber risks that must be managed? Unauthorized parties could take control of computer networks and hold them for ransom or obtain private information that could be used to commit fraud and other crimes. With more information available in the cloud, on mobile devices and on social media, there could also be risks of theft of electronic payments and sensitive personal information. There could also be theft of intellectual property. Malicious hackers could even try to harm tenants through control of computer-controlled facilities systems. They could also try to destroy the buildings themselves. The consequences to real estate companies if such attacks were successful would be significant. Tenants who have had their information compromised or even be assaulted might sue. Or, at the very least, they might leave for another building. But the consequences of a successful cyber attack would go beyond immediate revenue loss. There would also be long-term implications for the developer’s brand, posing major reputation-management challenges and legitimate shareholder concern. Have ransomware attacks been successful in other industries? Yes. Ransomware attacks are a growing problem in the health care industry. Several hospitals have had their computers hacked. Earlier this year a hospital in Los Angeles paid thousands of dollars to hackers in order to get its computer system released. The hospital industry is engaged in a furious game of data-security catch-up, trying to better protect itself from cyber attacks. What are some of the steps that developers should consider to reduce the risk of cyber attacks? Like health care companies, commercial real estate developers need to make improved cyber security a high priority. Once that is done, the tools and techniques will follow. For starters, this means making a clear assessment of the strategic risks and enlisting appropriate expertise to address them. Getting buy-in among the key leaders of the company, such as the chief information officer and the chief financial officer, is critical, because implementing an appropriate risk-management solution will require coordinated efforts throughout the company. Creating a robust response to the challenge of cyber attacks also requires a full awareness of legal issues. It is therefore important to get knowledgeable legal counsel about risk-management issues. This will help you avoid undue digital dilemmas as you seek to grow your business amid the opportunities and threats of this online age.

In industry after industry, digital technology has changed the game in countless ways. From music (iTunes) to retail (Amazon) to the emerging internet-of-things, the changes have been pervasive and downright breathtaking. What about real estate? The ramifications of the online revolution are certainly affecting real estate development as well, such as in the rising risk of cyber attacks. What should developers be doing to manage these risks? In this post, we will address that question, using a Q & A format. Why would real estate development be affected by cyber attacks? New developments offer increasing levels of technological functionality, with ever-smarter computers to automate operations and connect buildings to sophisticated electronic grids. With these enhancements come a corresponding increase in the risk of cyber attacks. As we noted in our August 1 post, cyber risk management is therefore becoming more and more important. What are some of the cyber risks that must be managed? Unauthorized parties could take control of computer networks and hold them for ransom or obtain private information that could be used to commit fraud and other crimes. With more information available in the cloud, on mobile devices and on social media, there could also be risks of theft of electronic payments and sensitive personal information. There could also be theft of intellectual property. Malicious hackers could even try to harm tenants through control of computer-controlled facilities systems. They could also try to destroy the buildings themselves. The consequences to real estate companies if such attacks were successful would be significant. Tenants who have had their information compromised or even be assaulted might sue. Or, at the very least, they might leave for another building. But the consequences of a successful cyber attack would go beyond immediate revenue loss. There would also be long-term implications for the developer’s brand, posing major reputation-management challenges and legitimate shareholder concern. Have ransomware attacks been successful in other industries? Yes. Ransomware attacks are a growing problem in the health care industry. Several hospitals have had their computers hacked. Earlier this year a hospital in Los Angeles paid thousands of dollars to hackers in order to get its computer system released. The hospital industry is engaged in a furious game of data-security catch-up, trying to better protect itself from cyber attacks. What are some of the steps that developers should consider to reduce the risk of cyber attacks? Like health care companies, commercial real estate developers need to make improved cyber security a high priority. Once that is done, the tools and techniques will follow. For starters, this means making a clear assessment of the strategic risks and enlisting appropriate expertise to address them. Getting buy-in among the key leaders of the company, such as the chief information officer and the chief financial officer, is critical, because implementing an appropriate risk-management solution will require coordinated efforts throughout the company. Creating a robust response to the challenge of cyber attacks also requires a full awareness of legal issues. It is therefore important to get knowledgeable legal counsel about risk-management issues. This will help you avoid undue digital dilemmas as you seek to grow your business amid the opportunities and threats of this online age.

While countless industries struggled during and following the worldwide COVID-19 pandemic, one, in particular, saw significant revenues from 2020 to 2021. The real estate industry significantly benefitted from unprecedented lower interest rights, not to mention considerable demand. Fast forward to today. The housing market remains strong, yet with a limited volume. Those who did not avail themselves of the potential savings decided that familiar and existing surroundings in uncertain times took precedence. NEW METHODS TAKE PRECEDENT What changed most in the home buying process beyond looking for new dwellings versus staying put is the significant changes in the most straightforward practices when it comes to showing and buying homes. Even though national orders to stay home, wear masks, and social distance has expired, countless people remain skittish about bringing people into their houses. Many states and localities maintain their restrictions, leaving open the chance of yet another variant spreading through the country. In the end, it is left to the seller’s discretion as to how showings will commence, mainly if they are still residing in their home. Sellers have notified many agents to schedule appointments for showings on clients that are pre-approved. As with any industry post-COVID, comfort with the process is still paramount, including access to hand sanitizer, gloves, and other types of protection. Many new home seekers still prefer to see the dwelling in person. When the pandemic began, real estate agents were initially slow to adapt. As sales and customers began to wane, they began to think “outside the box,” relying on social media and virtual tours. The housing market remains competitive, with little time to schedule online tours or walk through the home. The time span from listing to sale is measured in days, if not minutes and hours. For many prospective homeowners or those looking for a larger home, a successful bid may come down to the luck of the draw.

While countless industries struggled during and following the worldwide COVID-19 pandemic, one, in particular, saw significant revenues from 2020 to 2021. The real estate industry significantly benefitted from unprecedented lower interest rights, not to mention considerable demand. Fast forward to today. The housing market remains strong, yet with a limited volume. Those who did not avail themselves of the potential savings decided that familiar and existing surroundings in uncertain times took precedence. NEW METHODS TAKE PRECEDENT What changed most in the home buying process beyond looking for new dwellings versus staying put is the significant changes in the most straightforward practices when it comes to showing and buying homes. Even though national orders to stay home, wear masks, and social distance has expired, countless people remain skittish about bringing people into their houses. Many states and localities maintain their restrictions, leaving open the chance of yet another variant spreading through the country. In the end, it is left to the seller’s discretion as to how showings will commence, mainly if they are still residing in their home. Sellers have notified many agents to schedule appointments for showings on clients that are pre-approved. As with any industry post-COVID, comfort with the process is still paramount, including access to hand sanitizer, gloves, and other types of protection. Many new home seekers still prefer to see the dwelling in person. When the pandemic began, real estate agents were initially slow to adapt. As sales and customers began to wane, they began to think “outside the box,” relying on social media and virtual tours. The housing market remains competitive, with little time to schedule online tours or walk through the home. The time span from listing to sale is measured in days, if not minutes and hours. For many prospective homeowners or those looking for a larger home, a successful bid may come down to the luck of the draw.