There is no doubt that real estate is a strong asset class, even given today’s current climate. Across the city of Boston, new projects are being proposed while others move forward in construction at an accelerated pace. Property owners may also be able to take advantage of very low-interest rates and refinance existing assets in order to increase equity in their property and reduce property aging. However, while owning property is a solid investment - it does come with its fair share of headaches, some of which can be avoided. Let’s take a look at a few of the most common problems property owners and managers run into and explore how having the right team in place is key in mitigating issues.
Historically Hard to Permit Properties
From Back Bay to Beacon Hill, Boston is brimming with historic charm, but when it’s time for an upgrade or even general maintenance - these properties require several levels of approval to begin work. Within Boston, the Landmarks Commission and its 9 historic district commissions oversee proposed changes that can include anything from window replacement, general repairs, painting, and masonry to new signage.
Dealing with this level of detail and complex approval can certainly be a headache for a property owner - however, this process can be made less painless by hiring the right team. A skilled general contractor, like AAA Royal Construction, adept at handling historic renovations and heavy paperwork, will be ready to guide your project from approval to completion.
Putting off Exterior Repairs
As most renters or buyers aren’t super concerned with a building’s facade, property owners often prioritize interior upgrades over facade repair, roofing, or window replacement projects. However, this common pitfall can lead to more headaches in the long run. Window & building envelope problems can create unhappy tenants, run up utility costs, and in some cases lead to property damage from leaks. Having a facade inspection program in place can help in detecting any problems before they become major issues. But, if you’ve fallen into this trap, AAA Royal Construction can help. Their extensive experience in building envelope and window replacement across a wide range of property types provides the proper insight into the remaining lifespan of your exterior.
Given Boston’s size, there are a large number of contractor options available. However, many firms in hopes of winning a bid, may underprice the job, lack the experience needed for a complicated project, and fail to provide quality service and craftsmanship. This leaves you, the property owner, stuck with a new set of problems and potentially angry tenants. In looking for a general contractor, the key is to find a firm that actually thrives on complex projects.
Tight quarters, tough deadlines, unhappy tenants; it takes a certain skill set to be ready and willing to handle these types of projects. AAA Royal has that wealth of experience and provides the highest quality work for their clients. This love of problem-solving may be why a common sentiment often heard around the AAA Royal offices is: "property owners hate headaches, but we love them."