Property

What are intellectual property rights?

What are intellectual property rights? – Intellectual property rights are the rights given to persons over the creations of their minds. They usually give the creator an exclusive right over the use of his/her creation for a certain period of time.

Intellectual property rights are customarily divided into two main areas:(i) Copyright and rights related to copyright.

The rights of authors of literary and artistic works (such as books and other writings, musical compositions, paintings, sculpture, computer programs and films) are protected by copyright, for a minimum period of 50 years after the death of the author.

Also protected through copyright and related (sometimes referred to as “neighbouring”) rights are the rights of performers (e.g. actors, singers and musicians), producers of phonograms (sound recordings) and broadcasting organizations. The main social purpose of protection of copyright and related rights is to encourage and reward creative work.

(ii) Industrial property.

Industrial property can usefully be divided into two main areas:

One area can be characterized as the protection of distinctive signs, in particular trademarks (which distinguish the goods or services of one undertaking from those of other undertakings) and geographical indications (which identify a good as originating in a place where a given characteristic of the good is essentially attributable to its geographical origin).
The protection of such distinctive signs aims to stimulate and ensure fair competition and to protect consumers, by enabling them to make informed choices between various goods and services. The protection may last indefinitely, provided the sign in question continues to be distinctive.

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What are intellectual property rights?

Other types of industrial property are protected primarily to stimulate innovation, design and the creation of technology. In this category fall inventions (protected by patents), industrial designs and trade secrets.
The social purpose is to provide protection for the results of investment in the development of new technology, thus giving the incentive and means to finance research and development activities.

A functioning intellectual property regime should also facilitate the transfer of technology in the form of foreign direct investment, joint ventures and licensing.

The protection is usually given for a finite term (typically 20 years in the case of patents).

While the basic social objectives of intellectual property protection are as outlined above, it should also be noted that the exclusive rights given are generally subject to a number of limitations and exceptions, aimed at fine-tuning the balance that has to be found between the legitimate interests of right holders and of users.

Protect Your Intellectual Property

Protect Your Intellectual Property – Intellectual property (IP) refers to creations of the mind: inventions; literary and artistic works; and symbols, images, names and logos used in commerce. Businesses are often unaware that their business assets include IP rights.

Your intellectual property is a valuable intangible asset that should be protected to enhance your competitive advantage in the marketplace.

Stopfakes.gov is a one-stop shop for U.S. government tools and resources on intellectual property rights (IPR). You will find business guides, country toolkits, upcoming training events, and more on the site.

How to Protect your IP

Copyrights, which cover works of authorship, such as books, logos and software, is part of intellectual property protection, as are patents, which protect inventions. Other types of IP include trademarks, designs and trade secrets.

The first thing you need to do to safeguard your intellectual property is to file for protection in the United States. Your state’s bar association can recommend experienced lawyers who can help you with that.

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Protect Your Intellectual Property

Then you must be the first inventor to file for protection in the countries in which you currently do business, or are certain to do business in the future. You should also consider filing for protection in countries that are well-known for counterfeit markets.

If you do business in nations that have free trade agreements with the U.S., IP protections are built into those agreements, but you’ll still need to file in each country to get those protections.

Conversely, if you do business in any country in the European Union, you only need to file for protection with the EU – not every individual nation.

If you have a registered IP right in the United States, these protections are territorial and do not extend to foreign countries. Additionally, most countries are a “first to file” country for trademark registration and “first inventor to file” for patent registration and therefore grant registration to the first filer regardless of first use in the market.

8 Innovative Approaches to Converting Offices

8 Innovative Approaches to Converting Offices – As office space utilization declined throughout the pandemic, the prospect of converting office buildings to accommodate other uses has been widely discussed. But this type of opportunistic investment is complex, risky and time consuming, and the current CRE credit crunch, along with municipal restrictions, mean that few construction-starts are taking place.

Despite these challenging conditions, office conversions (also known as adaptive reuse) are indeed occurring, albeit slowly, and every day there are more examples of completed projects.

To provide inspiration and information for investors who are exploring the possibility of, or are actively involved in, an office conversion project, LoopNet compiled eight articles that consider office adaptations from a variety of perspectives. Some profile completed projects, while others discuss regulatory changes and strategies that investors, municipalities and others are employing to make these conversions financially feasible.

The articles cover conversion of two former office buildings in Chicago, vertical farming in Calgary, innovative zoning in Arlington, Virginia and a premium conversion in the United Kingdom. The benefits of a den over a bedroom are explored, as is key criteria that makes an office building a good candidate for a residential conversion.

1. Underutilized Office Properties Could Represent Residential Conversion Opportunities

In this article, two prominent architects recount the history of office to residential conversions in New York City and outline the attributes that make an office property a compelling candidate for conversion to multifamily use. These aspects include smaller floor plates, courtyards and setbacks that enable the addition of terraces and balconies, as well as large windows and ample ceiling heights for natural light. Buildings with unique facades or eccentricities are also great candidates because they can result in distinctive spaces that add to the appeal of the building.

2. Inside the $500M+ Renovation That Transformed an Iconic Skyscraper into a Mixed-Use Destination

The user experience inside the former Sears Tower, renamed Willis Tower in 2009, did not meet the needs of its 15,000 office workers or 1.6 million annual visitors to the Skydeck. It also failed to attract the 170,000 Chicagoans who work within a five-minute walk of the skyscraper. With a focus on ways to improve the experience of these three major user groups, the redesign centered on retail, food and beverage offerings. These offerings were missing from Willis Tower itself, but also from that part of the Loop neighborhood.

3. Empty Offices Could Become Breweries, Labs and Distro Hubs in Arlington Zoning Change

In Arlington, Virginia, the municipality has taken an aggressive approach to alleviate its office vacancy problem. New use categories are being proposed, and some have been approved, to allow for a rich variety of activities including micro-fulfillment centers, higher education, animal boarding, artisan beverage making, artisan workshops, urban agriculture, digital gaming, indoor recreation, audio-visual production, wet labs, medical and dental practices, food delivery services and ghost kitchens. Zoning ordinances are being modified to include these uses “by right” so building and business owners can avoid lengthy rezoning processes.

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8 Innovative Approaches to Converting Offices

4. How One Company Became a Leader in the Life Science Conversion Process

To help meet exceptional demand for life sciences facilities, one of the largest lab space owners in Quebec developed expertise in the conversion of industrial and office buildings into life sciences spaces. In some cases, the base building represents just 20% to 30% of the total project cost. This means that key to the company’s success is its ability to manage project complexities, delivery times, equipment availability, intricate ventilation systems, etc.

5. Is Vertical Farming a Green Solution to Office Vacancy?

A Canadian-based company has developed equipment and technology that allows vacant office space to be used to profitably grow up to 150 different crops of fresh produce for local markets. Characterized as “elevated urban farming,” a showcase facility in Calgary occupies 65,000 square feet of former office space. The firm is now licensing its technology internationally and is set to launch an updated version of its AI-powered vertical growing system, which uses only about 750 watts of power per 4-by-8-foot module, roughly the same energy burden as a personal computer.

6. Overcoming the Challenges (and Stigma) in an Office to Residential Conversion Scheme

One example of a high-quality office to residential conversion is Prospect Quarter, a UK project characterized by a blend of Art Deco and Midcentury Modern design. The finished product features 24 flats that include studio, one- and two-bedroom units, parking spaces and an outdoor garden. Such projects can be simpler to undertake in the UK than in other parts of the world, because of permitted development rights that enable office building owners to convert office structures to residences without undergoing a full planning review and approval process.

7. How One of Chicago’s Most Iconic Office Towers Became Luxury Condos

Built in 1925 and formerly the home of the Chicago Tribune newspaper, this 35-story tower took roughly 10 years to convert into luxury condominiums. While the limestone tower was designated a historic structure, neighboring buildings on the site lacked historic protective status and could have been demolished. But the development team opted to mostly preserve the entire site, which sits in a prized location on Michigan Avenue near the Chicago River and features 56 different floor plans for its 162 units.

8. Office to Residential Conversions: A Den May Help the Numbers Work

Units with two bedrooms and two full baths — totaling approximately 1,200 square feet — are the bread and butter of the multifamily housing industry, whether projects are intended to be sold or rented. But while working on an adaptive reuse project that involved converting a downtown D.C. office building into condominiums, this developer swapped one of those bedrooms for a den. Never having tried this before, the owners were relieved when this design sold briskly, mostly to single women.

The Hottest NYC Property Sectors To Invest in This Summer

The Hottest NYC Property Sectors To Invest in This Summer – New York City is often at the vanguard of trends that ripple out to the rest of the country; it’s also typically one of the most active property investment markets in the world. And while first quarter investment sales volume in New York City dropped by 53% from the fourth quarter of 2022, according to data provided by brokerage firm Avison Young, $2.2 billion in sales were still completed in the first three months of this year.

Moreover, even a novice investor understands that down markets often represent opportunity. That’s why LoopNet spoke with Cushman & Wakefield managing director Jonathan Squires about which sectors represent the best opportunities in New York City commercial real estate right now.

Of course, according to Squires, whether or not this moment in time actually is an opportunity depends largely on the perspective of the investor.

“If you’re looking long-term and you’re planning on holding it forever, or at least as part of your family legacy, I think right now is a great time to be buying. If you’re [looking to hold a property for] a year or two, or maybe even five years … I think that’s much riskier,” Squires said.

For those investors that are on the hunt right now, Squires highlighted subsidized housing, outdoor parking/storage facilities and neighborhood retail as three of the most currently compelling opportunities in New York City.

Subsidized Housing

“The rise in interest rates has driven the price down way below replacement costs, which means that you can buy multifamily properties for less than it would cost to build them, even if you got the land for free.””

Jonathan Squires, managing director, C&W Capital Markets

Squires was bullish on multifamily in general. “You have a housing crisis in New York City and in the whole country,” he said. “The rise in interest rates has driven the price [of multifamily properties] down in New York City, and in much of the country, way below replacement costs, which means that you can buy multifamily properties for less than it would cost to build them, even if you got the land for free.”

The expiration of the 421-a tax exemption is putting additional pressure on the New York City housing supply. This regulation exempted developers of new multifamily properties totaling 300 units or more in New York State from paying any local taxes for up to three years during the construction period and up to 25 years once the building was completed, provided they set aside a portion of the development for affordable units. The expiration of this exemption last year has significantly constrained the multifamily development pipeline in New York City, leading to rising rents in non-stabilized apartments and sending many New Yorkers scrambling to secure a rent-stabilized unit.

In rent-stabilized New York properties in particular, Squires said that there is a “double whammy,” of rising interest rates and regulations introduced via the New York Housing Stability & Tenant Protection Act of 2019. The result is that “certain multifamily properties can be [purchased] in New York City now for less than $100 per square foot, which is something I thought I’d never see,” Squires said.

The 2019 law restricted the extent to which owners of rent-stabilized units could increase the rent once an apartment became vacant. Prior to the Housing Stability & Tenant Protection Act, owners could increase the rent on a stabilized unit by up to 20% upon vacancy, but they are now limited to an increase that typically represents little to no additional rental revenue. Further, rental increases based on major capital improvements at subsidized properties are now limited to just 2%, a decrease from the previous allowable limit of 6%-15%, depending on the specific county.

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The Hottest NYC Property Sectors To Invest in This Summer

Despite these restrictions, or perhaps because of them, rent-stabilized properties now represent a compelling investment opportunity, according to Squires. As an example of the kinds of discounts he’s observed in the market, Squires relayed some details about a transaction he recently completed that involved a fully rent-stabilized property along the Grand Concourse in the Bronx.

“The property was purchased five years ago for $100 million,” Squires said. “The owners put $20 million into the property. We sold the property five years later [in the first quarter of 2023] for $60 million.”

Squires estimated that, on average, he’s seeing discounts of 25%-30% on rent-stabilized multifamily properties compared to just a year ago, while cap rates have expanded during the same time period from 4% to as much as 7.5%.

Outdoor Parking/Storage Facilities

Infill industrial properties — which are still excellent investments generally, according to Squires — are also driving demand for outdoor parking/storage facilities.

Over the past decade, many outdoor storage/parking facilities — which often house construction vehicles and materials, buses or other municipal vehicle fleets — were eliminated to make way for last-mile distribution centers or other industrial uses.

Because of this trend, not many of these industrial parking/storage facilities remain in New York City, and Squires said that it’s one of the few, if not the only, asset types where he’s seen sales prices increase over the past 12 months. The constraints have become so severe that Squires said some investors have been musing about “knocking down buildings” because “you can get more [rent] for outdoor storage than you can for some of these older industrial properties,” Squires said.

Squires indicated that investors interested in outdoor parking/storage facilities need to be crafty and quick in order to secure a property. “There’s really no supply, and anything that does come up gets snapped up pretty quickly.”

Neighborhood Retail

“I’m seeing prices that are so low, it’s hard to imagine that they can get much lower.”

Jonathan Squires, managing director, C&W

The final property type that Squires referenced was something he termed “neighborhood retail.”

The term refers to retailers providing “certain services and goods that you are not able to order from Amazon and have delivered two days later.” In a New York City context, this means anything from a local clothing boutique to a casual bistro to the neighborhood dry cleaner.

The primary types of retailers that Squires said investors should focus on are “services, restaurants and experiential retailers.”

While Squires said that retail brokers have told him that rental rates are rising for well-located properties, he estimated that cap rates for prime retail in New York City have grown to 6.5%-7% compared to 4.5%-5% a year ago. Of course, he acknowledged that those cap rates can compress notably if the property has a high-credit tenant with a long-term lease in place.

In such instances, the higher sales price is based “much more on [the tenant’s] credit than the actual real estate.”

While Squires admitted that prices could still drop further over the course of the year, he said that interested investors should be wary of waiting too long before capturing opportunities.

“I see tremendous value now,” Squires said. “I’ve seen a number of these cycles where investors decided to stay on the sidelines, and they never knew when the bottom was. And if you’re six or 12 months late on that, you can miss a lot of the upside. I mean, I’m seeing prices that are so low, it’s hard to imagine that they can get much lower.”

Distributive Property: Definition, Formula, Examples

Distributive Property: Definition, Formula, Examples – The distributive property is a well-known property related to numbers and algebra in mathematics. As the name suggests, this property focuses on distributing or dividing a quantity through proper conditions. The distributive property or distributive law is only operated in the multiplication of numbers and algebra. This is why it is also called the distributive law of multiplication.

Note: Distributive property can never be applied in the addition or subtraction of numbers. Even if you apply, the result will be void or produce errors in the solution.

Before diving deep into multiplication’s distributive property, let us have a quick look at other important properties in mathematics. They are listed below:

Commutative Property: This property states that the numbers or terms can commute or move their places in the expression without altering the result. This is true for addition and multiplication. For instance, (1 + 4) = (4 + 1) and (2 * 4) = (4 * 2). Subtraction doesn’t follow this property, for example, (1 – 4) = -3 is not equal to (4 – 1) = 3.
Associative Property: This property states that the number of terms in an expression can associate themselves or groups with each other without altering the result. This is true for addition and multiplication. For instance (1 + 4) + 3 = 1 + (4 + 3).

Let us now discuss what distributive property means and examples.

Distributive Property Definition

Let us first understand a simple concept. If you have to distribute something, let’s say chocolate, with your friends, you divide the chocolate bar into pieces to ease the distribution, right! Mathematics follows the same concepts. When we have to simplify a hard problem, the distributive property helps to break down the expression into a sum or a difference of 2 numbers.

Mathematically the distributive property states that any expression provided in the form K × (L + M) can be easily resolved as K × (L + M) = KL + KM. This is known as the distributive law of multiplication’s application in addition. Likewise, the distributive law also stands true for expression containing subtraction. This is expressed as K × (L – M) = KL – KM.

As you all can witness, K is being distributed to both the terms in addition or subtraction. Here K is known as an operand, and the terms inside the expression are known as addends.

Let us learn some important terms we have learned so far:

Operand: The term being distributed is known as the operand.
Addends: The terms inside the bracket which are either added or subtracted are known as addends.
Distributive property of addition: K × (L + M) = KL + KM
Distributive property of subtraction: K × (L – M) = KL – KM

We can visualize now it states that when the operand is multiplied by the sum or difference to the addends, it is equal to the sum or difference of the individual product of operand and addend terms.

Distributive Property Formula

The formula for a given value’s distributive property can be stated as

c * ( a + b ) = ca + cb

This concludes all the theoretical aspects of the distributive property of multiplication. Next, let us look at the distributive law of multiplication over addition and subtraction in-depth with proper instances.

Distributive Property of Addition

When multiplying a number (operand) by the summation of two integers (addend), we use the distributive property of addition. Multiplying three by the sum of 10 + 8 is a good example. 3 x (10 + 8) is the mathematical expression for this.

Example: The distributive principle of addition may solve the formula 3 x (10 + 8).

Solution: Using this, we multiply each addend by three using the distributive property before solving the formula 3 x (10 + 8). After that, we may add the products by dividing the number 3 between the two addends. This signifies that the addition will take place before the multiplication of 3 (18) and 3 x (10) + 3 x (8) = 30 + 24 = 54 is the result of the distribution property of addition.

Distributive Property of Subtraction

Similarly, when multiplying a number (operand) by the difference between two integers (addend), we use the distributive property of subtraction. Multiplying three by the difference of 10 – 8 is a good example of subtraction’s distributive property. The mathematical expression for this equation is 3 x (10 – 8).

Example: The distributive principle of subtraction may be used to solve the formula 3 x (10 – 8).

Solution: Using this, we multiply each addend by three before solving the formula 3 x (10 – 8). After that, we may subtract the products by dividing the number 3 between the two addends. This signifies that the subtraction will take place before the multiplication of 3 x (18) and 3 x (10) – 3 x (8) = 30 – 24 = 6 is the result of the distributive property of subtraction.

We have talked so much about the distributive property, but how does it stand true in mathematics? Is there a way to verify this property? Indeed there is verification. Continue reading the article to know why.

Verification of Distributive Property

Let’s look at how it works for various operations. We’ll use the distributive law to apply the two basic operations of addition and subtraction separately.

Distributive Property of Addition: We already know that the addition’s distributive property is given as k × (l + m) = kl + lm. Now it is time to verify this property by taking an example.

Example: Let us take an Expression, say, 10 x ( 3 + 6).

Solution: We will normally solve this expression by using the rules of BODMAS as standard.

In the first step, we will always solve the expressions inside the bracket. In this case (3 + 6 ) = 9. In the second step, we will multiply 10 by the number obtained, i.e. 9. This will give us the result as 10 x 9 = 90.

Now solve this using the distributive property of addition:

10 x ( 3 + 6 ) = (10 x 3) + (10 x 6)

= 30 + 60

= 90

As we can see both the methods yield the same result.

Distributive Property of Subtraction: Now, let us verify the same for the distributive property of subtraction. We all already know that the distributive property of addition is given as k × (l – m) = kl – lm. Now it is time to verify this property by taking an example.

Example: Let us take an expression, say, 10 x (6 – 3).

Solution: We will normally solve this expression by using the rules of BODMAS as standard.

In the first step, we will always solve the expressions inside the bracket. In this case ( 6 – 3 ) = 3. In the second step, we will multiply 10 by the number obtained, i.e. 3. This will give us the result as 10 x 3 = 30.

Now solve this using the addition:

10 x ( 6 – 3 ) = (10 x 6) – (10 x 3)

= 60 – 30

= 30

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Distributive Property: Definition, Formula, Examples

As we can see both the methods yield the same result again.

Hence, we have verified that the property of both addition and subtraction distribution is true.

Distributive Property of Division

The distributive property of division is the same as the distributive law of multiplication, with only the multiplication sign changing to division along with the operation. The larger term is divided into smaller factors (addend), and the divisor acts as the operand. You will understand this better with the example given below.

Example: Using the Distributive Property of Division, solve 36 ÷ 12.

Solution: 36 can be written as 24 + 12

Therefore we can write 36 ÷ 12 = (24 + 12) ÷ 12

Now, let us distribute 12 inside the bracket

⇒ (24 ÷ 12) + (12 ÷ 12)

⇒ 2 + 1

This gives us the answer as 3.

Distributive Property Examples

Example 1: Solve the Expression 2 (11 + 7) using the Distributive Property.

Solution:

Using the distributive property formula,

k × (l + m) = (k × l) + (k × m)

= (2 × 11) + (2 × 7)

= 22 + 14

= 36

Therefore, the value of 2 (11 + 7) = 36

Example 2: Prove that 5 x (3 – 12) has a Negative Result using the Distributive Property of Multiplication.

Solution:

Using the distributive property formula,

k × (l – m) = (k × l) – (k × m)

= (5 × 3) – (5 × 12)

= 15 – 60

= -45

Therefore, the value of 5 x (3 – 12) = – 45, which is a negative integer.

Now you must be 100 percent confident in what distributive property means and how to solve problems concerning this property. If you are not completely sure and have missed any of the concepts in the article, you can revisit this page again for theory and solutions. Moreover, start preparing for your upcoming exam now and outshine others by learning and practicing.

Frequently Asked Question

1. What is distributive property examples?

Distributive property is a rule that states that you can distribute the terms of an expression. It’s used when you have one term that’s being multiplied by another term but you want to distribute the term being multiplied by another number.

For example:

5(x+y) = 5x + 5y

In this case, x and y are multiplied by 5, which means we can distribute the 5 over them. So we would rewrite this as 50x + 50y.

Let’s look at another example:

(6x+2)(x-1) = 6×2 – 2x – 1

2. What property is distributive property?

It is a property that allows you to divide the whole by its parts. It is usually used in mathematics and algebra. For example, if you have the sum of two numbers and want to find the sum of their parts, you would use the distributive property.

3. What is the distributive property of 3?

The distributive property of 3 is a mathematical rule that allows you to distribute one number to each term in a sum.

For example, if you want to add 2+3+4, you can’t just say “add 6” because 2+3=5 and 4+3=7. You need to find a way to split up the 6 among those two terms.

The distributive property of 3 tells us how to do this: we’ll multiply each term by 3 before adding them together. So our answer is 9+12=21.

4. How do you do the distributive method?

The distributive method is a way to solve an equation by multiplying the parentheses on either side of the equality sign. The distributive law states that when multiplying or dividing by a sum or difference of terms, one must multiply or divide each term in the expression by each term in the sum or difference.

For example, if you have:

(a + 4)(a – 2) = 4a^2 – 8a + 8 – 8a

You would distribute the 4 from the first term to each term in the second term:

4a^2 – 8a + 8 – 8a = (4a^2) + (4(-2)) + (8) + (-8) = 16 – 0 + 0 = 16

5. Why do we use the distributive property?

The distributive property turns a multiplication problem into an addition problem. For example, if you have x * y, where x and y are positive numbers and x is greater than 1, then you can rewrite this as (x – 1) * y + x * y.

It is also useful when solving equations with exponents. For example, if you have 5(x+1) = 10(x), then you can rewrite this as 5x + 5 = 10x.

Distributive Property

Distributive Property – The distributive property is also known as the distributive law of multiplication over addition and subtraction. The name itself signifies that the operation includes dividing or distributing something. The distributive law is applicable to addition and subtraction. Let us learn more about the distributive property of multiplication along with some distributive property examples, how to use the distrivutive property on this page.

What is the Distributive Property?

The distributive property states that an expression which is given in form of A (B + C) can be solved as A × (B + C) = AB + AC. This distributive law is also applicable to subtraction and is expressed as, A (B – C) = AB – AC. This means operand A is distributed between the other two operands.

Distributive Property Definition

According to the distributive property definition, the distributive property allows us to take a factor and distribute it to each member (term) of the group of things that have been added or subtracted. Instead of multiplying the factor by the group as a whole, we can distribute it to be multiplied by each member (term) of the group individually.

Distributive Property Formula

The distributive property formula of a given value is expressed as,

Let us discuss the distributive property of multiplication over addition and subtraction in detail with examples.

Distributive Property of Multiplication Over Addition

The distributive property of multiplication over addition is applied when we need to multiply a number by the sum of two numbers. For example, let us multiply 7 by the sum of 20 + 3. Mathematically we can represent this as 7(20 + 3).

Example: Solve the expression 7(20 + 3) using the distributive property of multiplication over addition.

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Distributive Property

Solution: When we solve the expression 7(20 + 3) using the distributive property, we first multiply every addend by 7. This is known as distributing the number 7 amongst the two addends and then we can add the products. This means that the multiplication of 7(20) and 7(3) will be performed before the addition. This leads to 7(20) + 7(3) = 140 + 21 = 161.

Distributive Property of Multiplication Over Subtraction

The distributive property of multiplication over subtraction is similar to the distributive property of multiplication over addition except for the operation of addition and subtraction. Let us consider an example of the distributive property of multiplication over subtraction.

Example: Solve the expression 7(20 – 3) using the distributive property of multiplication over subtraction.

Solution: Using the distributive property of multiplication, we can solve the expression as follows: 7 × (20 – 3) = (7 × 20) – (7 × 3) = 140 – 21 = 119

Verification of Distributive Property

Let us try to justify how distributive property works for different operations. We will apply the distributive law individually on the two basic operations, i.e., addition and subtraction.

Distributive Property of Addition: The distributive property of multiplication over addition is expressed as A × (B + C) = AB + AC. Let us verify this property with the help of an example.

Example: Solve the expression 2(1 + 4) using the distributive law of multiplication over addition.

Solution: 2(1 + 4) = (2 × 1) + (2 × 4)

⇒ 2 + 8 = 10

Now, if we try to solve the expression using the law of BODMAS, we will solve it as follows. First, we will add the numbers given in brackets, and then we will multiply this sum with the number given outside the brackets. This means, 2(1 + 4) ⇒ 2 × 5 = 10. Therefore, both the methods result in the same answer.

Distributive Property of Subtraction: The distributive law of multiplication over subtraction is expressed as A × (B – C) = AB – AC. Let us verify this with the help of an example.

Example: Solve the expression 2(4 – 1) using the distributive law of multiplication over subtraction.

Solution: 2(4 – 1) = (2 × 4) – (2 × 1)

⇒ 8 – 2 = 6

Now, if we try to solve the expression using the order of operations, we will solve it as follows. First, we will subtract the numbers given in brackets, and then we will multiply this difference with the number given outside the brackets. This means 2(4 – 1) ⇒ 2 × 3 = 6. Since both the methods result in the same answer, this distributive law of subtraction is verified.

Distributive Property of Division

We can show the division of larger numbers using the distributive property by breaking the larger number into two or more smaller factors. Let us understand this with an example.

Example: Divide 24 ÷ 6 using the distributive property of division.
Solution: We can write 24 as 18 + 6
24 ÷ 6 = (18 + 6) ÷ 6
Now, let us distribute the division operation for each factor (18 and 6) in the bracket.
⇒ (18 ÷ 6) + (6 ÷ 6)
⇒ 3 + 1
Therefore, the answer is 4.

Cuemath is one of the world’s leading math learning platforms that offers LIVE 1-to-1 online math classes for grades K-12. Our mission is to transform the way children learn math, to help them excel in school and competitive exams. Our expert tutors conduct 2 or more live classes per week, at a pace that matches the child’s learning needs.

Property Management: Definition and Responsibilities

Property Management: Definition and Responsibilities – When a landowner owns a property but doesn’t have the time or experience to handle the business-related tasks involved, they have the option of hiring a property manager. Essentially, a property manager is the middle man between an owner and a renter that is responsible for various tasks including handling property upkeep. If you’re interested in this profession, you’ll need to know what property management entails and what responsibilities come with it.

In this article, we will define property management, a property management license and the various duties property managers face on a day-to-day basis.

What is property management?

Property management refers to the overseeing and management of various commercial and residential real estate properties. This includes taking care of all the daily operations for a property including collecting rent, handling maintenance, tenant complaints and more. The amount of responsibilities property managers have depends on their contract with the landlord.

For example, a landlord can hire a property management firm to help with one task such as collecting rent or they can stipulate that they want them to handle all business operations for their property in their entirety.

What is a property management license?

A property manager will typically need a property management license or real estate broker’s license to have a career in this profession. A property management license allows property managers to work in real estate and perform business-related duties in this profession. The specific licensing requirements will depend on the state in which you live and work. Not only will you likely require a license, but earning one will also give you credibility in your field.

A property management license can be obtained through state governments, local authorities or real estate boards. To obtain a property management license, you’ll need to be at least 18 years of age and have a high school diploma, however, more companies want property managers to have a bachelor’s degree in business, real estate or a related field.

What is a property management firm?

A property management firm is an office where property managers work. Property owners can hire a firm to maintain their properties when they don’t have the time, experience or capability to manage their properties themselves. There are several property management firms throughout the United States offering their real estate assistance.

Property management responsibilities

The number of responsibilities a property manager has is entirely dependent upon what’s stipulated in the contract between them and the landlord. Whereas some landlords may only want a property manager to collect rent, others may want a property manager to handle all aspects concerning their property. Here is a list of various property management responsibilities:

Understanding landlord-tenant laws and regulations
Handling maintenance requests and repairs
Marketing properties
Managing tenants
Managing rent
Supervising other employees
Managing the budget
Handling taxes

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Property Management: Definition and Responsibilities

1. Understanding landlord-tenant laws and regulations

To be a good property manager, you’ll have to have a deep knowledge of both state and national landlord-tenant laws. This involves understanding how to screen a tenant, evict a tenant, end a lease and more. The better you understand these regulations, the more fair and better property manager you’ll be.

2. Handling maintenance requests and repairs

One of the main jobs a property manager can have involves making sure the property is kept up. To ensure a habitable and safe environment, property managers must respond to maintenance requests and repairs in a timely manner. This involves handling water leaks, extermination, trash removal and more.

To perform these tasks, property managers can do it themselves or hire a third party such as a plumber or electrician to handle the matter. The better a property manager keeps up with proper maintenance and repairs, the happier the tenants will be and the more attractive the property will be to future tenants.

3. Marketing properties

One of the main reasons landlords hire property managers is to help them market their property for new tenants. This involves taking photographs of the property and listing the property on various mediums such as housing websites. The greater the marketing job, the greater the chances are that a property will get a lot of interest. If a property manager gets a lot of interest on a property, they can afford to be more selective when it comes to choosing the right tenant.

4. Managing tenants

Property managers are often tasked with managing various tenants. This involves finding the right tenant for a landlord’s property and screening these tenants through various background and credit checks to ensure they’ve selected the right candidate(s).

Also, property managers will probably be entrusted to handle all tenant leases. They’re also tasked with handling tenant emergencies, move-outs and evictions. When dealing with a move-out, a property manager will have to assess the property for damage. Depending on the condition of the property, the property manager can determine how much of the tenant’s deposit will be returned to them.

After a tenant moves out, they’ll need to ensure the unit is clean, handle any necessary repairs and start marketing the unit once again. In regards to an eviction, if a tenant violates the lease, the property manager is responsible for starting the eviction process.

5. Managing rent

Managing the rent is one of the main responsibilities of a property manager. This involves setting a rental rate for a property. To do so, the property manager needs to assess the property, its location and the current market. Once a tenant moves into the property, they’ll be tasked with collecting rent on the property on a certain day and through their chosen medium. A property manager can also change the rental rate so long as they abide by state or city laws.

6. Supervising other employees

If a property has other employees, such as a security guard, property managers are responsible for supervising them. This involves salary discussion as well as possible termination if applicable.

7. Managing the budget

Property managers may also be in charge of managing the property budget and other important records. This involves taking into consideration the property budget, organizing all tenant leases, complaints, repair costs and more.

8. Handling taxes

Lastly, landlords may need assistance from the property manager when filing taxes. In some cases, the property manager may file the property taxes themselves.

Property Management: Definition, Roles, Types, and Duties

What Is Property Management?

Property Management: Definition, Roles, Types, and Duties – Property management is the daily oversight of residential, commercial, or industrial real estate by a third-party contractor. Generally, property managers take responsibility for day-to-day repairs and ongoing maintenance, security, and upkeep of properties. They usually work for the owners of investment properties such as apartment and condominium complexes, private home communities, shopping centers, and industrial parks.

Their main roles are to manage routine tasks delegated to them by the owners and to preserve the value of the properties that they manage while generating income.

Understanding Property Management

Property developers generally want to move on to the next project as soon as each one is completed. Even if they continue to hold title to the property, they prefer to delegate the day-to-day operations to an outside company.

The responsibilities of a property manager generally involve the following:

Screening potential tenants
Drafting, signing, and renewing leases on behalf of property owners
Collecting rent
Maintenance of properties, including landscaping and snow removal
Arranging for necessary repairs to properties
Setting up and adhering to budgets for property maintenance
Understanding state and national landlord-tenant laws and regulations
Marketing properties
Supervising other employees
Handling taxes

The companies must comply with any state and local landlord-tenant laws and regulations.

Owners pay property managers a fee or a percentage of the rent generated by a property while it is under their management.

Types of Property Management

Just as property comes in many types, so do property managers. Some firms are specialized in providing management for a particular type of property, while others offer management services over a range of property types. A huge range of property types can be managed.

Residential Property Management

Residential property managers are typically hired for rental properties, and they manage the rental process. They can be hired to manage:

Single-family homes
Vacation rentals
Multifamily homes
Town houses
Condominiums
Apartments
Manufactured homes
Real estate-owned (REO) properties

Commercial Property Management

Commercial property owners have different needs from those who own residential property. Commercial property management can apply to:

Public accommodations like hotels
Retail properties like malls, restaurants, and gas stations
Office properties like real estate brokerages or doctors’ offices
Co-working spaces where professionals rent work space by the day or the hour

Industrial Property Management

Industrial properties that can benefit from management include:

Heavy manufacturing facilities such as automotive plants and steel mills
Light manufacturing factories such as food packaging
Warehouses
Distribution facilities

Special-Purpose Property Management

There are also numerous types of property that don’t fit neatly into the categories above, but that require management nonetheless. These include:

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Theaters
Sports arenas
Resorts
Senior care facilities
Schools and universities
Places of worship

Who Needs a Property Manager?

Several types of property owners can benefit from the services that property managers offer.

Landlords, for example, hire property management firms for a variety of reasons. Some may have multiple rental properties in their portfolios and lack the time or expertise to maintain the properties and deal with individual tenants. Some owners only have an interest in owning rental properties and earning profits from them. When this is the case, they hire professional property managers. Absentee landlords also make use of property management services. Some property management companies cater to individual landlords who rent out a single property such as a vacation home.

Property owners who participate in affordable housing programs tend to use property management services because their rental properties are subject to complex federal guidelines that require specialized expertise. Certain real estate brokers also operate as property managers. For example, a broker in a resort town may provide buyer and seller agent services as well as property management services. When this is the case, the real estate broker lists, shows, leases, and maintains vacation rentals for a number of property owners.

Special Property Management Considerations

Property management licensing requirements vary by state.1 Most states require property management companies to be licensed by the local real estate board, so property owners need to make sure that the firms they hire are properly licensed.

For instance, property managers in Florida are required to have real estate broker’s licenses to operate in the state.2 That’s because some of their responsibilities are deemed real estate activity. Holding a real estate broker’s license allows property managers to list rental properties in the multiple listing service (MLS) and to market the properties by standard real estate marketing methods. Holding a real estate broker’s license also allows the property management company to place a real estate board lockbox on a property’s door so that other licensed agents can show the property.

Florida also requires property managers to hold a broker’s license if they deal with rentals or leases and receive a commission for their services. However, property managers who manage the properties that they own in the state don’t need a license to do so.2

Managers in Massachusetts don’t require a broker’s license.3 That’s because certain duties considered to be real estate activities, such as listing and leasing properties, may be secondary to the main duties performed by the property manager.

Is a property manager worth it?

It depends. Managing property can be costly and take a lot of time. If the cost of a property manager is less than the opportunity cost of managing properties yourself, it’s probably a good investment. However, this is an equation that every investor will have to work through for themselves.

Who benefits from hiring a property manager?

Any property manager who doesn’t want to deal with the day-to-day management of property can potentially benefit from property management. This can include a residential property owner who doesn’t want the headaches of dealing with tenants, or commercial property owners who prefer others to source and manage tenants, leases, and maintenance.

Are property managers regulated?

Yes. Property management licensing requirements vary by state, but most states require property management companies to be licensed by the local real estate board. Property owners should make sure that the firms they hire are properly licensed.

The Bottom Line

Property management is the oversight of real estate by a third party, normally a professional property manager or property management company. Property managers can manage many different types of property: residential, commercial, industrial, and property for special purposes.

Property managers are generally responsible for the day-to-day operations of the real estate, from screening tenants to arranging for repairs and maintenance, and are paid via a fee or a percentage of the rent generated by the property. Every state has its own laws regulating the activities of property managers, so it’s important for property owners to check that potential property managers are properly licensed for their state.

The Pros and Cons of Beachfront Living

The Pros and Cons of Beachfront Living – For a lot of people, living near the ocean is nothing less than a dream. After all, who wouldn’t want to wake up to the sound of waves crashing on the shore or go for a walk on the beach just as the sun begins to rise? Beachfront living has always had a certain charm, which is one of the main reasons why seaside locales are usually considered the most popular neighbourhoods to buy property in any city.

In fact, a lot of people invest in seafront properties solely because they want to enjoy a stellar view of the ocean and the tranquillity that comes with it. However, getting used to living by the sea is not as easy as one might think. In fact, just like everything else in life, beachfront living has quite a few downsides of its own as well.

So, if you’re planning on buying property near the beach, here a few advantages and disadvantages you need to know before investing in your dream home.

PROS AND CONS OF BEACHFRONT LIVING

Here are a few pros and cons of living by the ocean that you should know about.

PROS	CONS
Stunning View	Sand in the House
Fresher Air	Too Many Tourists
Healthier Lifestyle	High Maintenance Cost
Higher Resale Value	Unpredictable Weather

Let’s first discuss the most notable advantages of living near the sea.

STUNNING VIEW

One of the biggest benefits of living near the beach is definitely the view. Just imagine opening your windows to the stunning sight of the ocean every single morning. Sounds refreshing, right? Not to mention, the desirability factor of beachfront properties usually varies with the view. The homes with a better view are usually more expensive than the ones with an obstructed view.

Whether it’s sunrise or sunset (or the hours in between), the sight of the water from seafront properties never gets old.

BETTER AIR QUALITY

Apart from a picturesque view, beachfront living also allows you to enjoy the fresh ocean breeze from the comfort of your home.

Since the air quality improves the closer you get to the ocean, those living near the beach can simply open their windows and allow the sea breeze to cool down their home, especially during the summers.

While people travel from all across the city to spend some time at the beach during the warmer months, beachfront property owners can simply sit on their terrace with a cup of tea to enjoy the view and fresh air.

HEALTHIER LIFESTYLE

Living near the sea also encourages an improved lifestyle.

While fresh air is instrumental for a healthier mind and body, beachfront living also offers residents an opportunity to plant their toes in the sand without having to travel too far.

One of the biggest advantages of living near the sea is that you can simply walk to the beach and for an evening stroll, play with your kids and get some exercise. Those living next to the beach can participate in so many outdoor activities that many others may only dream of. Even if you aren’t a huge fan of jogging or working out, you can simply build sandcastles with your children or simply sit on the sand and take in the view.

After all, there’s nothing more relaxing than spending a day on the beach.

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The Pros and Cons of Beachfront Living

HIGHER RESALE VALUE

This is perhaps the most important benefit of beachfront living. Houses located in seaside locales are generally more expensive than those in other parts of the city. Although this may vary with each city, neighbourhoods near the beach are considered a prime spot for real estate investment.

For instance, when it comes to buying real estate in Karachi, living in the upscale residential societies of Defence Housing Authority (DHA) and Clifton have always been the top choice among the residents of the city owing to their proximity to the beach among other facilities.

This means there is a good chance you can flip your waterfront property for a high profit whenever you want to. On the other hand, if you want to generate extra income, you can also consider renting out a portion of your house.

Now that we know about the pros of waterfront homes, let’s take a look at some of the most common beachfront living issues.

SAND IN THE HOUSE

No matter how many times you sweep the floors, vacuum your carpets and wipe your furniture, there’s always going to be sand in your home. While it may not seem like one of the biggest problems of living near the beach, having to clean your home multiple times each day can get annoying pretty quickly, especially on windy days.

Needless to say, if you plan on buying property near the beach, you also need to get used to a certain amount of sand in your living space.

TOO MANY TOURISTS

Beaches can get pretty crowded during the summer months. Depending on where you live, you might have to deal with a lot of traffic, crowded streets, random cars blocking your main gate and driveway and a lot of people hanging out around your house. Since you’ll be living in a tourist hotspot, you will also have to deal with the lack of privacy that comes as a part of oceanside living.

HIGH MAINTENANCE COST

The high cost of maintenance is arguably one of the biggest disadvantages of living near the sea.

Humidity combined with salty sea breeze can cause corrosion, affecting both exterior and interior of beachfront properties.

Therefore, homes located near the ocean need a lot more upkeep than those situated at a greater distance. If you are planning to buy a property near the beach, you will probably have to spend a substantial bit of your household budget on home maintenance and repairs. This includes sprucing up the exterior walls of your home every few months with a fresh coat of paint, regularly cleaning your electronic appliances and polishing your furniture to avoid erosion.

UNPREDICTABLE WEATHER

Last but not least, those living near the sea may have to deal with unpredictable and harsh weather conditions in the form of heavy rains, hurricanes, storms and floods. Although most waterfront residential areas are located at a certain distance from the beach, those living close to the ocean may have to relocate to safer areas if the authorities issue a hurricane or a flood warning.

Not to mention, dealing with the excessive amount of sand during windstorms can also be rather stressful.

Given the fact that such natural disasters can strike anywhere, weather conditions are usually not considered to be a deal-breaker. However, it’s always important to follow precautionary measures to avoid any major damage or losses.

Depending on your personal preferences, it’s up to you to decide if the pros of beachfront living outweigh the cons or vice versa.

Meanwhile, if you are interested in purchasing seafront property in Karachi, you may want to take a look at Emaar Crescent Bay in DHA Phase VIII – a luxury project in one of the poshest and most upscale neighbourhoods of the city.

Headed by renowned UAE-based real estate company Emaar Properties, this grand multi-purpose project in Karachi includes luxury apartment complexes, penthouses, retail units, recreational spots, mosques, clubhouses and much more. You can check out our detailed analysis of Emaar Crescent Bay for more information.

On a side note, if you’re looking to buy property in Karachi, don’t forget to take a look at the H1 2019 Real Estate Market Report for the City of Lights to see which area drew investors’ attention during the first half of the year.

Meanwhile, to learn more about the pros and cons of different types of properties, stay connected to Zameen Blog – Pakistan’s leading property and lifestyle blog. In case you have any questions regarding beachfront living or want to share your suggestions, send us an email at [email protected]. Moreover, you can subscribe to our newsletter to receive the latest updates about developments in the real estate sector of Pakistan.

PROBLEMS WITH BEACH HOUSES: THE ENVIRONMENTAL FACTORS THAT CAN AFFECT A HOME BY THE SEA

Are you prepared for the environmental implications of owning a seafront home?

PROBLEMS WITH BEACH HOUSES – There are numerous reasons why you might be thinking about purchasing a property on the coast; from the year-round vacation experience to the views, buying a house beside the sea is often seen as the ultimate aspiration for American property owners.

And what’s not to love? A seaside property will offer unrivalled views of the ocean, easy access to some of your favorite hobbies and pastime, and more than a few envious visits from city and country-dwelling friends. However, owning a home beside the sea isn’t without its issues.

Issues Affecting Seaside Properties

We adore beachfront homes and waterfront properties, but it’s essential that anyone thinking of purchasing such real estate is realistic when it comes to the issues they’re likely to face. Have you considered how the environment, and surrounding landscape, could adversely affect your home?

Sun, Sea, And Sand

Properties located in hotter climes are subject to the effects of long periods of bright sunlight, which can cause external finishes to age prematurely. Sand blowing in from the beach, and salty sea air are likely to cause rusting metalwork, chipping and scratching to paintwork, and damage to mechanisms such as window latches. The damage caused by sand and salt is unavoidable. Finally, consider sudden tidal surges and waves whipped up by the wind. High waves and rising water levels can mean that gardens and home exteriors, and even interiors, can be damaged by floodwater.

Weathering And Erosion

Waterfront properties are less sheltered than those further inland, so rain and driving winds off the ocean will do more damage than you might expect, battering homes and creating a need for frequent maintenance. Coastal erosion is also a great fear of many homeowners living close to the beach, as the shoreline gradually recedes towards properties. Such environmental action can greatly devalue a property – not to mention the concern and upset it will cause. The threat of rising sea levels due to global warming is a real one; during extreme tides seawater can flood land and homes, make access difficult, and affect electrical appliances. Water damage is a real issue for seafront homes, and must be taken into consideration if you’re thinking of buying a property in a particular neighborhood.

Issues Affecting The Interiors

Environmental damages don’t just occur outside; the frequent dragging in of sand and saltwater can scratch hard floors, sully carpets, and affect soft furnishings, meaning that items wear out far faster than normal. There’s also a real potential for damp in homes that aren’t well ventilated. Lastly, think about the humidity prevalent in seafront homes. Sea air is warm and wet, which is highly corrosive to fixtures, fittings, and even electronics. There is a real potential for problems inside and out.

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PROBLEMS WITH BEACH HOUSES: THE ENVIRONMENTAL FACTORS THAT CAN AFFECT A HOME BY THE SEA

Protecting Your Property From Environmental Damages

There are steps you can take to protect your property from harm that will safeguard your investment should the unthinkable happen. While we certainly wouldn’t want to discourage you from following your dreams it pays to be pragmatic, addressing issues as soon as they occur will prevent future heartache.

Protect Your Interests

At this stage it really does pay to do your research regarding the home you’re buying and the area it’s located in. Have there been any previous issues with erosion? Has the current homeowner had to do any extensive work in recent years? Are nearby properties affected by environmental damage? You must check building regulations, and ensure that they’ve been adhered to. It’s also a good idea to have a full survey carried out, in order to determine whether any work is likely to be required in the immediate future. Finally, you must get the appropriate insurance; Such a warranty will make repairs and renovations cheaper as and when they’re required.

Treat Fixtures And Fittings

The cost of keeping a seafront home is always going to be higher than that of maintaining an urban dwelling; there are certain environmental factors you’d simply not need to consider further inland. For this reason it’s a good idea to prepare your home for every eventuality. Be sure to use weatherproof paints and finishes on the property’s exterior, treat fixtures and fittings appropriately depending upon their material, and put covers in place on furniture so that the effects of environmental damage will be minimized as far as possible. You may also wish to purchase insurance and extended warranties for electrical items – just in case.

Prepare For Regular Maintenance

Above all, you should be prepared to maintain your property, and to address issues as they arise. Frequent weathering is something that will never cease, and issues such as damaged paintwork, rusting fixtures, and tired furnishings will only get worse the longer they are left. As far as you’re able, carry out regular routine inspections of all fixtures and fittings, repaint external and internal surfaces with protective paint and finishes, and address issues with flooring, and damp, as soon as you notice them. Some jobs may only take mere minutes, but they’ll lengthen the life of your home exponentially.

Owning a seafront property is the ultimate dream for many Americans, but there’s a lot to consider before taking the metaphorical and literal plunge; buyers are becoming increasingly aware of the environmental issues that could cause them problems further down the line, while town and city developers are having to factor rising sea levels into regeneration and building plans. The truth is that there’s a lot to be done to protect properties from environmental damages, but it certainly does pay to be prepared for all eventualities.