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As many states move to reopen businesses affected during COVID-19, itâs essential that building owners, managers and tenants follow safety guidelines to keep employees andâ¦
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Source: century21.com
Source: century21.com
The National Association of Realtors (NAR) has released new research on the conversion of hotels and motels into housing. While the study was spurred by a 37% drop in hotel occupancy rates driven by the pandemic, the findings have broader implications. Hotel conversions provide a means to simultaneously create renewed profitability and help address the national housing shortage.
Commercial members surveyed
A survey was sent to 75,000 commercial members of the NAR between February and March of 2021. 168 reported being engaged in the sale, leasing, development, property management or appraisal of converted hotels/motels between 2018 and 2020. Of the reported conversions:
Success stories
The report ends with five case studies detailing acquisition, zoning, renovations and expected final property values. For those interested in engaging in hotel/motel conversions, they’ll find an excellent road map in this report.
Source: century21.com
There’s no question that technology is making an impact on the construction industry – even though construction is an industry that’s been historically slow to embrace innovation. The reluctance to change and evolve is due to fragmentation in the industry. With so many small firms specializing in different aspects of the construction process, it’s a challenge to adopt seamless processes and adapt to new technologies.
But recent advances that increase the efficiency, flexibility and adaptability of many emerging construction technologies are making them more cost-effective for firms to adopt. Just a few of the new technologies in use today include modular construction (using free-standing, integrated modules that are manufactured off-site and then transported to a site for installation), geospatial technologies (used to visualize, measure and analyze Earth’s features) and wearable technologies (such as head-mounted displays).
There’s more on the horizon. Some emerging technologies in the construction industry include mass timber (an engineered wood product), construction robotics (using robots to build) and autonomous construction vehicles (equipment operated by a computer).
To read a NAIOP report about new construction technologies, click here.
Source: century21.com
Securing the #1 spot as a top performer may not be easy, but it’s possible. Success isn’t necessarily something that just happens to you. It’s actually, quite the contrary. When you get the opportunity to learn the ropes from others who have implemented key methods that have helped them become #1 in their field, you can’t help but notice a theme. #WhatIf there are methods you could execute, day to day, and mindsets you could put into practice, right now, that could elevate your game 121%? #WhatIf you had the chance to sit down with a seasoned entrepreneur who has weathered the uncertainties of life and business and has come out on top?
Here’s your chance. Recently, we had the opportunity to speak with someone who’s taken success, by the horns, and hasn’t looked back. Joe Villaescusa is not only the Owner of CENTURY 21 Allstars in Pico Rivera, California, but he’s a top performer; and not just any top performer but, a #relentless one.
Don’t believe us? Read on.
Last year, Joe’s office closed over $18 million in sales with over 1800 closings. If that’s not enough, CENTURY 21 AllStars is on track to knock it out of the park again this year. To top that off (we know, right?) Joe has recovered from COVID19 and has worked each day to regain his momentum and build his strength. As you can see, it’s not just Joe’s tenacity but it’s the grit and grind mindset he’s taken on, day in and day out.
So here’s what you’ve been waiting for. Here are our top three confessions from Joe that he says has helped him to become a #1:
It’s a slow and steady pace that can lead one to a #1 spot but it’s not impossible. Be patient with your journey and surround yourself with others that are crushing goals you hope to accomplish. Being intentional about your growth and success is key and can help you #AlwaysElevate your game!
Source: century21.com
Thanks to the pandemic, the number of employees who work from home swelled over the past year. Even though offices are beginning to open, with workers returning to the workplace, surveys show that many plan to telework at least part-time in the future.
Apartment owners and managers need to take notice of this trend. After all, at a time when unemployment remains high, remote workers are employed – and capable of paying their rent. They also represent a large pool of prospective tenants, so targeting them can turn into a competitive advantage.
Here are three things you can do to attract the work-from-home cohort:
Source: century21.com
It’s your first car; your first foray into the automotive world. You’re excited, eager, and you spend your time looking for cars that you can show off to your friends, cars made for speed, power, performance.
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Tip: Act now to see if you qualify for lower rates!
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But none of those things really matter when you’re buying your first car. Your main goal should be function and cost; a car that can do what you need it to do without costing the earth. And when price is your priority, car insurance is just as important as fuel economy and maintenance, potentially saving you up to 50% on your premiums.
Before we look at the types of cars that insurers prefer, the types that offer the cheapest rates, let’s focus on the cars that are consistently generating the lowest insurance quotes.
Most of these vehicles are SUVs, as they score the highest average ratings in safety tests, but once you venture outside the top 10, you’ll find some sedans and luxury cars as well.
The aforementioned vehicles aren’t the only ones that come with low car insurance quotes. The Subaru Crosstrek, Jeep Cherokee, Nissan Frontier, GMC Canyon, and Chevrolet Traverse are all up there, and you’ll also get good deals on a host of other reliable vehicles, such as those manufactured by Hyundai, Fiat, Kia, and Toyota.
But as soon as you venture into sports car territory, such as more expensive vehicles made by the likes of Mercedes, Porsche, BMW, and even the higher-end car models offered by Nissan (Nissan GT-R) and Ford, those car insurance premiums increase.
The goal of all insurance companies is to ensure that premiums are higher than projected costs. Underwriters use a series of statistics to calculate these premiums, knowing that probability is always on their side.
This is true for all types of insurance and allows these companies to operate at a profit even in the face of extreme outliers and exceptions. With term life insurance, for instance, they’ll look at your age, sex, medical conditions, and smoking status to predict if you are likely to die during the term; with homeowner’s insurance, it’s all about the risk factors in your area, as well as the size and cost of the house.
Where auto insurance is concerned, there are many factors that insurers can consider and these either revolve around you or your vehicle. They know, for instance, that a driver under the age of 18 is more than twice as likely to have an accident than a driver over the age of 18. They also know that renters and individuals with low credit scores are more likely to be involved in an accident.
Many of these factors can’t be influenced by the policyholder. They can promise to drive safely and insist they are not as reckless as their peers, but until they have established a long and clean driving record, the insurer won’t care.
However, the policyholder can influence the risks associated with the vehicle. By choosing a safer, more sensible ride, they can win favor with the car insurance company and potentially save hundreds of dollars on annual insurance premiums.
When judging the safety of a particular vehicle, car insurance companies will consider the following:
New cars are fitted with a host of features designed to make criminals’ lives harder. In the old days, cars could be stolen with a wire hanger/screwdriver and a little persistence. These days, thankfully, they’re much harder to crack and these features provide insurers and owners with a little peace of mind.
The National Highway Traffic Safety Administration (NHTSA) applies rigorous safety tests to all new vehicles, giving them a safety rating of between 1 and 5 stars, with 5 being the highest.
The NHTSA runs collision checks to see how the vehicle fares when hit from the front or the side, while also looking at stability, air bags, tires, and additional safety features. The higher the rating, the lower the insurance premiums, at least in theory.
How much does your car cost to repair, are the parts widely available, does the car have any specific features or requirements that make a mechanic’s job harder? All these things will be considered during the underwriting process.
It’s one of the reasons sports cars have higher insurance premiums. Not only are they faster and involved in more high-speed accidents, but they’re also very expensive cars to fix.
Underwriters don’t simply focus on safety ratings, repairs, and built-in features. They want to know how the car fares in the real world; how those features translate into practical costs. Generally speaking, a new car with advanced anti-theft features will be stolen less often than an older car.
However, if the statistics suggest otherwise, for whatever reason, you may not be offered the low premiums you’re expecting. Maybe there is a serious security flaw in the car’s anti-theft mechanism, and this has resulted in a spate of thefts; maybe it’s just really popular with criminals.
Whatever the reason, a car’s safety mechanisms are only as good as their real-world applications.
Your driving record and type of car aren’t the only things that can impact insurance costs, nor are they the only things you can influence:
How Much you Drive: It stands to reason that a policyholder who drives for one or two hours a week is less likely to be involved in an accident than someone who spends all day on the road.
Source: pocketyourdollars.com
Insurance companies profit by carefully calculating probability and then accounting for it. Your insurance premiums are closely tied to your risk factors; the more at-risk you are, the higher those premiums will be. But that doesn’t mean that you can’t get affordable insurance just because you’ve had a few violations.
Attention: Still Open During the Financial Crisis…
Tip: Act now to see if you qualify for lower rates!
Compare free personalized quotes from the nation’s top providers.
You may be deemed high-risk if you have received a violation of any kind. There are minor and major violations, ranging from parking fines, moving violations and traffic violations to drunk driving and more. The most serious and destructive violations include:
A DUI, also known as a DWI, can have a big impact on your car insurance premiums. It’s a citation that results in more bodily harm and property damage than any other, and it’s also connected with more death benefit payouts than any other type of driving citation, making DUIs a huge red flag for all insurance companies.
If you have a recent DUI conviction on your record, you’ll struggle to get comprehensive insurance coverage for a reasonable price, but there are a few things you can do, as discussed in our guide to Getting Car Insurance with a DUI.
Speeding increases your risk and many insurance carriers will charge you over $100 more for every speeding ticket that you receive. If you’re charged with “Racing”, the penalties are more severe and you may be charged an additional $1,000 a year.
It only makes sense, as street racing turns you into a high-speed liability. Your car insurance premiums increase because you’re more likely to do harm to yourself, your car, your passengers, and all innocent bystanders. It doesn’t matter how good of a driver you think you are, in the eyes of an auto insurance company, you’re an expensive disaster waiting to happen.
A car accident that was caused by you and led to significant payouts by the insurance company can have a massive impact on your auto insurance rates.
Collision coverage and liability coverage are essential components of any insurance policy and if there is extensive property damage and motorist injuries, resulting in major repair work and liability claims, the provider will be hit with a sizable bill.
It should come as no surprise, therefore, that an at-fault accident can increase your insurance premiums by over $600 a year.
If you’re cited for reckless driving, your premiums may increase by anywhere from $300 to $1,000 a year. The risk of bodily injury and property damage increases, as reckless driving is defined as driving without care and putting yourself and others in danger.
You are also considered to be a high-risk driver if you’re young and male, as young drivers are significantly more likely to claim than drivers aged 25 or older and male teen drivers are twice as likely to claim as females. That’s why young drivers pay higher car insurance rates on average.
But your demographic and driving record aren’t the only things that can prevent you from getting a cheap auto insurance policy. You’ll also be charged higher rates if you:
Your credit score impacts pretty much everything that you do financially. It can reduce your chances of getting a credit card or mortgage; it can stop you from getting security clearance and securing the job of your dreams.
Believe it or not, your credit score is also considered by your insurance provider, as studies suggest that bad credit policyholders are more likely to claim.
The best safety features and the safest cars won’t matter much if the driver lives in a high claim area and drives a car that is frequently stolen. In this case, you’re paying for the mistakes of others as the insurance company tries to balance its books.
Your experience is key, so your driving history will always be factored into the equation when applying for car insurance quotes. If you have some experience behind you and haven’t made any claims, you can secure lower premiums. If not, you have no proof that you’re a good driver or a safe driver and will be considered a risk.
Your credit score isn’t the only surprising criteria considered by insurance carriers. They will also consider whether you are a tenant or a homeowner, with the latter offered lower premiums on average. Again, it all comes down to probability, as studies suggest that renters are more likely to claim than homeowners.
As noted above, all insurance companies calculate risk and probability to determine how much of a liability you are. This is true for life insurance, homeowner’s insurance, and pretty much all other forms of insurance. Your goal, therefore, is to reduce that risk, keep that liability to a minimum, and make sure you look like a prime candidate in the eyes of car insurance companies.
To get cheap car insurance, therefore, just keep the following in mind and you can secure some car insurance discounts:
A new car can reduce your premiums, especially if it comes with a high safety rating and has anti-theft features installed. SUVs have the highest safety ratings and can save you a lot of money when dealing with major insurers like Geico, State Farm, and Allstate, but there are some highly insurable sedans and smaller cars as well.
Look for the safety rating, check for an anti-theft device, and scour the rates before you buy your car.
By completing a defensive driving course, you can prove to your insurers that you are a safe driver who knows what they are doing on the road, thus securing a lower rate than you would get if you didn’t have that all-important certificate.
A few points can make a big difference, netting you a policy discount and giving you more options if you ever need to apply for a new line of credit or loan.
By taking out different types of coverage with the same provider, you can benefit from bulk rates, known as “bundling”. Like a multi-car discount, you’re essentially getting wholesale rates on your insurance policies.
Providers like Progressive, Nationwide, State Farm, and Geico offer discounts when you bundle car insurance with home insurance, life insurance, and more.
Time is your friend when looking for the best car insurance rates. If you have multiple violations and you’re still a teenager, then making do without a car for a while could save you a small fortune. Not only will those violations expire, but you’ll be a little older and will therefore not be considered as much of a risk.
You’ll still be considered high risk as a new driver, but there will be significant savings to make, nonetheless.
Being high risk doesn’t mean you can’t get insured. It just means your car insurance policy will cost more than someone who has a clean driving record and ticks several other boxes with regards to the ideal policyholder. By searching, comparing, and doing what you can to decrease your liability, you can keep those insurance costs to a minimum and save hundreds of dollars a year.
Source: pocketyourdollars.com
Insurance is a numbers game. Underwriters base their rates on the likelihood of an insured making a claim; the more likely you are to claim, the higher your insurance premiums will be. It’s as simple as that. To get the best rates, therefore, you need to present yourself as a low-risk customer.
Attention: Still Open During the Financial Crisis…
Tip: Act now to see if you qualify for lower rates!
Compare free personalized quotes from the nation’s top providers.
But what can you do to reduce this risk; what major life events are impacting your chances of getting affordable car insurance cover?
Your 18th and 25th birthday have a massive impact on your auto insurance policy. After these dates, your risk plummets, and your rates soon follow. Car insurance companies base their rates on probabilities, as discussed above, and a 16- to 17-year-old is twice as likely to have a car crash than an 18- to 19-year-old.
At this young age, you pay a higher deductible because your insurance needs are greater, but as soon as you turn 18, you can secure lower rates and bring those car insurance costs down.
A teen driver is between 2 and 5 times more likely to have an accident and suffer bodily injury than a driver aged between 25 and 35, so car insurance costs will reduce even further once you reach 25.
The cheapest rates tend to be reserved for policyholders aged between 50 and 60. At this age, insurance premiums cost around $1,200 on average, compared to the $5,000+ paid by the average 16- to 18-year-old teen driver. However, costs begin to increase again after this age. Even if you have a relatively clean driving record, auto insurers will consider you to be a greater risk and will increase your premiums as you age.
Motorists over the age of 80 can expect to pay roughly the same as those aged between 20 and 29, for example.
Your marital status is considered by underwriters for most insurance policies, including homeowners insurance. Again, it’s all about probability, and statistically speaking, married policyholders carry less risk than their single counterparts. Where car insurance is concerned, this is even more poignant, as you’re more likely to use your spouse’s car.
Your insurance company may also provide you with a multi-car discount, allowing you to save even more on your car insurance policy. Speak with your provider to discuss potential savings and benefits.
As an example, a married couple will pay around $1,600 on average for a joint policy with Geico, and if they have more than two cars between them, they can shave up to 25% off the cost.
By the same token, however, these rates may increase if you get divorced, with the average increase being around $120 to $140.
In the eyes of an insurance company, you’re more responsible when you buy a home and your rates may decrease as a result. However, the best thing about this life event is that it allows you to take advantage of multi-policy discounts.
If you take out many different policies with the same provider, you can shave hundreds of dollars off your annual premiums and will be covered for everything from property damage to medical costs, physical injuries, vandalism, and breakdowns, all with the same company.
Buying a home also improves your chances of securing credit and it gives you more options when times are tough. Homeowners can tap into their home equity whenever they need a little cash and because they can use their home as collateral, they can also benefit from low-interest secured loans.
Buying a home is one of the biggest life changes you can make and it’s also a costly one as it leaves you with substantial and long-term debt, but it’s a decision that generally carries more positives than negatives.
As an employee you can benefit from company discounts and policy offers, potentially saving on a host of insurance policies and shaving dollars off your car insurance policy. This isn’t true for all jobs and all employers, but it’s worth looking into.
Ask your employer if there is any way you can save money on your insurance and if there are any other benefits you can take advantage of.
Repaying debt is a huge accomplishment, especially when you consider that three-quarters of all Americans will die with substantial debts and many of those will have lived with debt throughout their adult life.
Repaying debt provides you with a little more financial freedom and is a significant weight off your shoulders, but it can also reduce the price of your auto policy by improving your credit score.
Bad credit increases your risk significantly and is factored into a lot of calculations, including job applications and security clearances.
The exact price of your car insurance policy will depend on a number of factors, from coverage limits to your age, personal circumstances, driving history, and type of car. Whether you have a new car or a used car will impact the price, but whether it has features such as emergency braking, anti-lock brakes, and airbags, will also make a difference.
Discuss your options with insurance agents, compare rates from multiple companies, and don’t forget to consider extras such as rental car expenses and collision coverage. Your goal is not to simply get the cheapest auto insurance premiums and move on. You need to think about what will happen if you ever have an accident and file a claim. If you’re cheap today you could be hit with some costly expenses in the future.
Every time a major life event occurs, you should consider changing your insurance policy. Car insurance isn’t like life insurance or health insurance; it doesn’t increase as you age and the cheapest policy isn’t the one you’re offered at the first time of asking. If anything, the opposite is true, because as discussed above, teen drivers and young drivers pay huge premiums every month.
Comparison shop, negotiate, and don’t be afraid to look for a new provider. Car insurance companies do everything they can to compete with one another and switching is a great way for policyholders to take advantage of different circumstances and secure reduced premiums.
Source: pocketyourdollars.com
Choosing the right car and getting an auto loan is only half the battle. You still need car insurance coverage and finding the right insurance policy is a taxing, boring, and often expensive process. But if you keep some simple tips and techniques in mind, you can find affordable car insurance quotes and save yourself a fortune on insurance premiums.
Attention: Still Open During the Financial Crisis…
Tip: Act now to see if you qualify for lower rates!
Compare free personalized quotes from the nation’s top providers.
Car insurance quotes should be provided free of charge. That’s not the case for all of them, but there are plenty of companies and services that will provide you with a free quote. You can then compare these quotes to help you find the best policy.
Online car insurance quotes are generally free, so if you’re being charged a fee, take your business elsewhere.
There are a few simple steps to getting a free quote and using this to secure the cheapest car insurance rates:
To save yourself some time when dealing with car insurance companies, make sure you have some essential information, including:
Knowing what car insurance companies are looking for can help you prepare and allow you to secure some cheap and comprehensive coverage. Generally speaking, the things that have the biggest impact on your quote include:
You can’t magically make yourself a few years younger (if only!) and if you’ve already made a claim on your insurance there’s not much you can do to reverse time and undo that claim. However, there are a few ways you can reduce your premiums and bring those insurance costs down, including:
Your credit score plays an important role in pretty much every financial decision that you make, whether you’re applying for a credit card, looking into life insurance or getting an auto insurance quote.
A good credit score shows that you’re a trustworthy individual who knows how to handle your finances. It also suggests that you’re less impulsive.
Of course, that’s not always the case and having a bad credit score doesn’t mean you’re impulsive and reckless. Far from it. However, insurance is based on statistics and probability, and statistically speaking, an individual with bad credit is more likely to be reckless than an individual with good credit.
There’s no point paying for full coverage if you’re driving a cheap car that costs less than $500. Be careful how you structure your auto insurance with regards to liability, collision coverage, and auto repair. Make sure you weigh the pros and cons against your car and the likelihood of encountering an issue and use these to set realistic and affordable premiums.
You can secure auto insurance discounts for a variety of reasons. One of the best of these is a multi-policy discount, which is offered to policyholders who have several different policies with the same insurance provider. For instance, you can purchase life insurance, property liability insurance, and more, with the insurer essentially offering you a wholesale discount.
There are also discounts for multi-car and driver policies, whereby you add several cars or drivers onto the same policy. But the reductions don’t stop there, and you should also look into the following:
Don’t accept the first policy you’re offered; don’t assume they’re giving you the best price and complete coverage. Work with different insurance agents, check multiple providers, and run some searches on comparison websites.
Most auto insurance companies provide you with auto insurance quotes for free, and there’s no reason why you should be paying money for these quotes. Be wary of any companies or sites that charge you for this service, remember to compare several quotes from several different companies, and once your policy begins, keep searching for discounts and doing what you can to reduce quotes in the future.
Source: pocketyourdollars.com