News: Long Island

Schoshenko of Property Management Advisors addresses LICN members

On November 25th, Jim Schoshenko of Property Management Advisors spoke to the members of LICN. Schoshenko offers training and support for facility managers and property managers. He spoke to the group about managing properties. Although many in the room were not property managers, the information he shared was quite useful to all the Realtors in the room. He has been involved in real estate for many years for both large and small companies. He advises Realtors, property managers and owners on how to effectively care for their facilities. He also works with Realtors advising them about properties as to whether there are issues and how to handle them. He talked about the importance of preventative maintenance. For example, if a hurricane is coming a manager should check the property a week before it is expected. Look for any potential problems, call in a professional now before the storm hits as it will be difficult to get anyone there after it hits. Whether property manager or Realtor, walking the property to look for possible challenges or potential issues is useful to head off future problems. He suggests when you call in a professional for that area, ask questions, listen and learn as much about that area from that professional that will serve you well in the future. He also suggests not taking shortcuts to repairs as it will cost more in the end. Look for guarantees from reputable and stable companies when possible. The discussion was enlightening. and he fielded many questions. Schoshenko was so forthcoming with his information. Education is the goal of LICN and this was a great opportunity to know more.
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The evolving relationship of environmental  consultants and the lending community - by Chuck Merritt

The evolving relationship of environmental consultants and the lending community - by Chuck Merritt

When Environmental Site Assessments (ESA) were first part of commercial real estate risk management, it was the lenders driving this requirement. When a borrower wanted a loan on a property, banks would utilize a list of “Approved Consultants” to order the report on both refinances and purchases.