By Ira Krumholz President of NAI Daus Property Management [email protected] A few months ago, most property owners received a letter from their county auditor that revealed their new 2015 re-assessment. Every six years, the Ohio Revised Code requires each county to reappraise all of their respective taxing parcels. These reappraisals are updated every three years, a triennial update. In 2015, all of the parcels in Cuyahoga, Lake, Lorain and Portage counties were updated. Mistakes can sometimes happen, especially considering these…

By Alec Pacella, CCIM Managing Partner at NAI Daus 216-455-0925 [email protected] Among the favorite memories of my youth were birthday celebrations – most notably, mine. Both of my parents had six siblings and even though all of my aunts and uncles worked hard to make ends meet, they would always remember my birthday. The gifts were typical fare for that era – Matchbox cars, puzzles and baseball cards. But one of my uncles, Uncle Ralph, would always get me something…

Multi-Tasking Tool By Alec Pacella Managing Partner of NAI Daus [email protected] Among the favorite memories of my youth were birthday celebrations – most notably, mine. Both of my parents had six siblings and even though all of my aunts and uncles worked hard to make ends meet, they would always remember my birthday. The gifts were typical fare for that era – Matchbox cars, puzzles and baseball cards. But one of my uncles, Uncle Ralph, would always get me something…

By Ira Krumholz President, NAI Daus Property Management Division [email protected] Momentum was certainly a key word last year. At the top of the list was the great positive momentum associated with Cleveland’s multifamily sector. Much of this was associated with Cleveland’s central business district, which grabbed most of the headlines. During 2015, nearly 500 new units were completed in the downtown area, but despite this additional inventory, occupancy rates continued to hover near 100 percent. There are approximately 275 units…

Last month, we introduced a discussion that compared leasing real estate versus owning. The focus of that article was on some of the primary advantages and disadvantages of each and included at least some degree of subjectivity. This month, we are going to look at a much more objective measure. There are actually two different analytical measurements that can be used. One utilized the net present value (NPV) of each alternative while the other utilizes the IRR of the differential…

By Ira Krumholz, President of NAI Daus Property Management Division [email protected] A few months ago, most property owners received a letter from their county auditor that revealed their new 2015 re-assessment. Every six years, the Ohio Revised Code requires each county to reappraise all of their respective taxing parcels. These reappraisals are updated every three years, a triennial update. In 2015, all of the parcels in Cuyahoga, Lake, Lorain and Portage counties were updated. Mistakes can sometimes happen, especially considering these…

Growing up as a child in the 1970s meant that I watched a lot of television. I was a car freak at a very early age and would always pay particular attention any time a commercial aired for a new car. Looking back at this now, two things stand out. First, aside from Ricardo Montalban touting the rich Corinthian leather of the new Chrysler Cordoba, I can’t recall all that many auto commercials actually airing – certainly not to the…

Ira Krumholz, CPM ® was installed as President of Chapter 41 Northern Ohio of the Institute of Real Estate Management (IREM).  The installation was held on November 6, 2015 at the Tudor Arms Hotel in Cleveland’s University Circle district.  During the installation, Ira spoke of his vision for the coming year.  Ira told the gathering, “As Cleveland is a leader in the nation in healthcare, education and the like, we want our property management firms to lead the country as…

NAI Daus Represents Owner, Tameran Inc., in the Sale of a Multi Tenant Industrial/Flex Building in Solon, Ohio Cleveland, Ohio – (October 6, 2015) – NAI Daus announced that it represented Tameran Inc. in the disposition of the multi-tenant industrial/flex building at 30300-30340 Solon Industrial Parkway in Solon, Ohio to LKL Properties, Inc.  The 72,600-square-foot, freestanding building was sold for $2,950,000.  David Hexter, SIOR, Partner and Jeffrey Calig, CCIM, Senior Vice President of NAI Daus represented the seller in this…

As the Starks Would Say, Winter is Coming By Ira Krumholz, President of NAI Daus Property Management Division [email protected] The 2015-16 edition of the Farmers’ Almanac includes a good news/bad news weather forecast for Ohio. The good news is that the fall is expected to be longer and milder than normal. But the bad news is that the winter is expected to be similar to last year – in the publication’s words, “snowfilled and frigid.” I’m sure that you will recall…