8 Lessons Learned:

Your Guide to Building Storage Units

Currently, the self-storage industry is booming, and it is possible that you want to venture into a self-storage business or you want to build some storage units for your personal use. You need to know various things before you venture into building self-storage units so that you take the right steps. You first need to consider various things before you build. Some factors such as location, especially for a business, matter since they will affect the accessibility levels as well as the availability of room for growth. You also need to look at the economic feasibility of building your self-storage units to be sure that you have a profitable business and you can afford taking care of the project. The team that you are going to work with to complete the project is also something essential to think about because it can affect the success of the project. It can be a tall order for you to build the units all by yourself, and you should get the right team to work with so that you will do this well and on time.

It is necessary to start with setting a budget before you start building self-storage units. You need to determine how much you can afford to spend on self-storage units before you can project. Some of the expenses involved in building self-storage units are the costs of land, materials, and hiring. Be sure to set apart an amount that is suitable for the project you want to carry out and give yourself an allowance so that any variances will be taken care of without struggle.

You also need to write a business plan. When you are building self-storage units as a business, you need to have a detailed business plan that indicates the vision of the project and will also help you with guidelines to follow when continuing with the project. You can benefit from having a business plan if you need to borrow money for the project because it will help you get financing.

It is necessary to choose a location wisely so that you can benefit the most from the self-storage units. You have to think about the square feet that you will need as well as the preferred place for the units.

It is also necessary to think about your unit mix. Think about the different types of units that you want to have, different sizes, any special features, and how you want the different units to be accessed.

Hiring the team to work with is the next step to take. It is necessary to determine the kind of assistance that you require so that you get the right people for the job. You can then get to figure out the site layout and keep checking in often to be sure that you’re getting what you wanted.

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Eastern European Banking Model

A traditional banking model in a CEEC (Central and Eastern European Country) consisted of a central bank and several purpose banks, one dealing with individuals’ savings and other banking needs, and another focusing on foreign financial activities, etc. The central bank provided most of the commercial banking needs of enterprises in addition to other functions. During the late 1980s, the CEECs modified this earlier structure by taking all the commercial banking activities of the central bank and transferring them to new commercial banks. In most countries the new banks were set up along industry lines, although in Poland a regional approach has been adopted.

On the whole, these new stale-owned commercial banks controlled the bulk of financial transactions, although a few ‘de novo banks’ were allowed in Hungary and Poland. Simply transferring existing loans from the central bank to the new state-owned commercial banks had its problems, since it involved transferring both ‘good’ and ‘bad’ assets. Moreover, each bank’s portfolio was restricted to the enterprise and industry assigned to them and they were not allowed to deal with other enterprises outside their remit.

As the central banks would always ‘bale out’ troubled state enterprises, these commercial banks cannot play the same role as commercial banks in the West. CEEC commercial banks cannot foreclose on a debt. If a firm did not wish to pay, the state-owned enterprise would, historically, receive further finance to cover its difficulties, it was a very rare occurrence for a bank to bring about the bankruptcy of a firm. In other words, state-owned enterprises were not allowed to go bankrupt, primarily because it would have affected the commercial banks, balance sheets, but more importantly, the rise in unemployment that would follow might have had high political costs.

What was needed was for commercial banks to have their balance sheets ‘cleaned up’, perhaps by the government purchasing their bad loans with long-term bonds. Adopting Western accounting procedures might also benefit the new commercial banks.

This picture of state-controlled commercial banks has begun to change during the mid to late 1990s as the CEECs began to appreciate that the move towards market-based economies required a vibrant commercial banking sector. There are still a number of issues lo be addressed in this sector, however. For example, in the Czech Republic the government has promised to privatize the banking sector beginning in 1998. Currently the banking sector suffers from a number of weaknesses. A number of the smaller hanks appear to be facing difficulties as money market competition picks up, highlighting their tinder-capitalization and the greater amount of higher-risk business in which they are involved. There have also been issues concerning banking sector regulation and the control mechanisms that are available. This has resulted in the government’s proposal for an independent securities commission to regulate capital markets.

The privatization package for the Czech Republic’s four largest banks, which currently control about 60 percent of the sector’s assets, will also allow foreign banks into a highly developed market where their influence has been marginal until now. It is anticipated that each of the four banks will be sold to a single bidder in an attempt to create a regional hub of a foreign bank’s network. One problem with all four banks is that inspection of their balance sheets may throw up problems which could reduce the size of any bid. All four banks have at least 20 percent of their loans as classified, where no interest has been paid for 30 days or more. Banks could make provisions to reduce these loans by collateral held against them, but in some cases the loans exceed the collateral. Moreover, getting an accurate picture of the value of the collateral is difficult since bankruptcy legislation is ineffective. The ability to write off these bad debts was not permitted until 1996, but even if this route is taken then this will eat into the banks’ assets, leaving them very close to the lower limit of 8 percent capital adequacy ratio. In addition, the ‘commercial’ banks have been influenced by the action of the national bank, which in early 1997 caused bond prices to fall, leading to a fall in the commercial banks’ bond portfolios. Thus the banking sector in the Czech Republic still has a long way to go.

In Hungary the privatization of the banking sector is almost complete. However, a state rescue package had to be agreed at the beginning of 1997 for the second-largest state bank, Postabank, owned indirectly by the main social security bodies and the post office, and this indicates the fragility of this sector. Outside of the difficulties experienced with Postabank, the Hungarian banking system has been transformed. The rapid move towards privatization resulted from the problems experienced by the state-owned banks, which the government bad to bail out, costing it around 7 percent of GDP. At that stage it was possible that the banking system could collapse and government funding, although saving the banks, did not solve the problems of corporate governance or moral hazard. Thus the privatization process was started in earnest. Magyar Kulkereskedelmi Bank (MKB) was sold to Bayerische Landesbank and the EBDR in 1994, Budapest Bank was bought by GE Capital and Magyar Hitel Bank was bought by ABN-AMRO. In November 1997 the state completed the last stage of the sale of the state savings bank (OTP), Hungary’s largest bank. The state, which dominated the banking system three years ago, now only retains a majority stake in two specialist banks, the Hungarian Development Bank and Eximbank.

The move towards, and success of privatization can be seen in the balance sheets of the banks, which showed an increase in post-tax profits of 45 percent in 1996. These banks are also seeing higher savings and deposits and a strong rise in demand for corporate and retail lending. In addition, the growth in competition in the banking sector has led to a narrowing of the spreads between lending and deposit rates, and the further knock-on effect of mergers and small-hank closures. Over 50 percent of Hungarian bank assets are controlled by foreign-owned banks, and this has led to Hungarian banks offering services similar to those expected in many Western European countries. Most of the foreign-owned but mainly Hungarian-managed banks were recapitalized after their acquisition and they have spent heavily on staff training and new information technology systems. From 1998, foreign banks will be free to open branches in Hungary, thus opening up the domestic banking market to full competition.

As a whole, the CEECs have come a long way since the early 1990s in dealing with their banking problems. For some countries the process of privatization still has a long way to go but others such as Hungary have moved quickly along the process of transforming their banking systems in readiness for their entry into the EU.

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All About Home Warranties

While a good number of people often look at buying a home as a smooth process, it barely is. Various uncertainties will arise even after closing the purchase. aside from the need to renovate, you could end up identifying sections that require costly repairs. Such a cost could be so big for you to cover particularly if the seller is barely covered. It is at this point that you will need to ask yourself whether having a home warranty will come in handy. You will however need not to confuse a home warranty with an insurance cover. Warranties cover what the home buyer gets after purchasing property, while insurance covers various losses. Some of the top reasons to go for this home warranty are as follows.

There are instances that repairs will be necessary. it is imperative to point out that buying a home means that you will get old systems too. you are likely to get a few of them in deplorable conditions such that repairs will come in handy. A home warranty will be essential in covering things like kitchen appliances, plumbing, electrical systems, and floor renovations. Such covers will help in avoiding financial burdens down the road. Undoubtedly, it will give you the peace of mind that you deserve. It will ensure that you are not exposed to many financial constraints after moving to your new home. A home warranty will ensure that you relax, knowing various essentials are sufficiently covered.

Having a home warranty comes with a sense of reassurance. Even though you will exercise utmost care when buying your home, it is likely that you will miss a few things from time to time. It will be essential for you to consider getting this home warranty especially if you are not so conversant with how to maintain a home. It often highlights that the home is in sound condition and you are less likely to spend any additional cost on it. You need to keep in mind that it can easily protect the seller too. In most cases, it cushions the seller form further complaints later on. However, the seller needs to disclose any problem or defects with the property during the transaction. This is what the law dictates.

Considering how competitive the real estate industry tends to be, this home warranty will be a perfect way to entice a new buyer. Further, it is one of the things that many buyers will appreciate. There is great value in having a home warranty. More than often, you will need to part with 350 to 600 US dollars for the warranty. Feel free to pay more if you need further coverage. With this home warranty, you will easily avoid costly repairs.

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Tips for Co-parenting After Divorce

Having a family comes with a lot of benefits buy in case there are issues that cannot be solved you will need to get a divorce and stay separately. Having a divorce is not an easy thing at all and you will have to make sure that you consider the issues and the problems that come with getting a divorce. When you have a divorce you will need to make sure that you find a way that you both will be able to take care of the kids that you have and ensure that they will not be affected a lot, in coparenting. In this article, you will be able to learn the things that you will need to make sure that you pay attention to on the ways to co-parenting after divorce.

When you make a choice to communicate you will be able to have a good co-parenting after divorce and this will be able to help the kids on the pain they would have gone through, in coparenting. It will not be an easy task to listen to your partner after divorce as there will be a lot of tension an there is no one how will be willing to listen to what the other person has to say. One of the things that you can do in order to ensure that your kids will not affect a lot by the divorce that you have is by talking to each other as you will all be in the same life. When you choose to communicate with your partner you will be able to help the kids that you have through the process.

When you choose not to expect your ex to change you will be able to have a good co-parenting after divorce and your kids will be happy and move on fast. There are a lot of people all over the world who expect their partners to change and you will need to make sure that you avoid that. In order to make sure that you will be able to have a good co-parenting after divorce with your partner you will need to make sure that you remove the thinking that your partner will change as they will never change, in coparenting.

By always putting the kids first you will be able to ensure that you have a good co-parenting after divorce and your kids will not be affected a lot by the divorce, in coparenting. You will need to make sure that you put the need of your kids ahead of everything else as this is the main reason as to why you are together. You will end up getting your kids to love you even more by showing that you care about them more than you care for anything else, in coparenting. By reading this context you will be able to learn co-parenting after the divorce which will ensure that your kids will be safe, in coparenting.

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