Tag Archives: tenants

Clan Gordon driven to provide the best letting experience in Edinburgh for both tenants and landlords

EDINBURGH, United Kingdom, 2020-Jan-30 — /REAL TIME PRESS RELEASE/ — A LEADING Edinburgh letting agent has added a record number of properties to its portfolio in the last year – thanks in part to stronger legislation impacting the sector.

Clan Gordon, which focuses on high quality homes in or near the city centre, has seen its properties under management now exceed 500, growing by three per week on average – with 152 additional homes on its books in the latest 12 months to December.

The surging growth has largely been the result of switches from other letting agents where landlords were either unhappy with the level of service they were receiving or sensed a lax approach to the new regulations governing the sector.

Growth has also been driven by properties taken over from letting agents which have been forced to exit the sector as they were unable to meet the requirements of the new Letting Agent Code of Practice or, in one case, had been forced into liquidation.

Jonathan, who founded the business alongside his brother, Andrew, in 2008, believes it is a clear sign that the industry must continue to drive up standards – and that by protecting and respecting tenants, landlords can enjoy an improved and more profitable outcome.

He said: “It’s nothing less than a pivotal time for the sector – and with the approach Clan Gordon has taken we can only see our market share continue to expand.

“Edinburgh continues to see demand for long-term rental increasing while supply simply can’t keep up.

“While some landlords and agents may look to maximise short-term gain, a healthy relationship with the tenants, which we strive for at Clan Gordon, can produce a far better outcome for all parties. It creates fewer issues, cuts unnecessary turnover and typically results in a greater long-term financial return for the landlord.”

The latest Letting Agent Code of Practice and Letting Agent Registration introduced by the Scottish Government is seeking to increase professionalism in the sector.

It means that both landlords and tenants can challenge poor practice – and enforce it through a tribunal if necessary. Agents must now ensure all owners and managers are trained and have a qualification at (or at the equivalent of) Scottish Credit and Qualifications Framework (SCQF) level 6 or above.

As a Firm of Surveyors which has been regulated by the RICS (Royal Institution of Surveyors) since they started almost 12 years ago, Clan Gordon already met all of the requirements of the new Code of Practice and goes above and beyond this by ensuring all employees – not just managers – are qualified to this level.

Across the new properties, the letting agent took over 12 properties from CMC – after it went into liquidation. A further 20 properties switched from an English agent unwilling to join the new Letting Agent Register. A total of 50 transferred from an Edinburgh agent also unable to meet the new requirements.

A further 70 new properties are the result of switches from other agents, or from new landlords altogether.

Jonathan added: “We’re driven to provide the best letting experience in Edinburgh for both tenants and landlords.

“That means we already go the extra mile. We believe that the vast majority of landlords are looking for an honest, open and efficient service and are pleased to see these efforts to try to drive up standards across the board in the sector.

“We are super proud of the growth in our portfolio of managed properties and with our fantastic team and the philosophy we have put in place we aim to see our success – and reputation in the sector – continue to soar.”

Clan Gordon is one of Edinburgh’s leading letting agents, is RICS and ARLA accredited – and is dedicated to raising standards in the private rented sector for landlords and tenants.

For more information on Clan Gordon, visit https://www.clangordon.co.uk/

Contact details:

Jonathan Gordon
Clan Gordon Ltd
Unit 1,
1 Carmichael Pl,
Edinburgh
EH6 5PH
0131 555 4444

Dream Team of Local Community Leaders Help Tenants Acquire Their Deteriorating Building From Absentee Owners

The story of the 665 LLC building and how it became owned and operated by the doctors and practitioners who worked within its walls is one of perseverance, frustration and teamwork. And a lot of “wrestling.”

Monterey, CA, December 31, 2018 — The story of the 665 LLC building and how it became owned and operated by the doctors and practitioners who worked within its walls is one of perseverance, frustration and teamwork. And a lot of “wrestling.”

“We started a wrestling match. We had to wrestle with them. And kick and scratch and fight,” says Dr. David Morwood, one of the tenants, and now one of the owner-occupants of 665 Munras Ave., about the epic battle with a Florida-based equity fund that owned the building.

The story goes back at least a decade, maybe more. The property, owned by Paul Verga at the time, had been a car dealership, bank and, currently, a suite of medical offices, including Morwood’s, a plastic surgeon. Morwood, in fact, at 13 years, was the longest-running tenant in the building, which houses medical offices, including a surgery center, allergist, radiology suites, hearing aid center, among others.

But since Verga’s death in 2002 and the 2008 real estate crash, when the building went into foreclosure and eventually ended up in the hands of the Florida equity fund, the building had fallen into serious disrepair. Morwood’s office experienced leaks and a partially collapsed ceiling. His entreaties to the absentee landlords went unheeded.

“I was sick of the out-of-state landlords ignoring us, so the only solution was to get ownership from the equity fund,” says Morwood. “We had to figure out how to get control of this amazing building and not allow this gem to be tarnished.”

Unfortunately, the building wasn’t on the market and the owners didn’t want to sell. So Morwood had to come up with a strategy to gain ownership. And since he wasn’t an expert in real estate, he consulted several friends and acquaintances who were. Folks like former City Councilman and developer Carl Outzen, renowned property owner Mike Marotta, commercial real estate professionals John Mahoney and Patrick Stafford, attorneys Andy Swartz and Mark Myers, bankers Clay Larson and Steve Keller. Morwood recalled it takes a team to win the Super Bowl.

With this Dream Team of experts and community leaders, Morwood set out to form a coalition of other tenants, business leaders, bankers and local businesses in the neighborhood to join in the effort. He called his long-term associate Dr. David Awerbuck, ENT surgeon, to add some “heavyweight expertise” and experience to the group. Not only is Dr. Awerbuck an expert ENT surgeon, he has an MBA from the University of Southern California.

“We started to get a lot of support, everybody was rooting for us,” he says. “It’s a great neighborhood and we got support from everybody.”

So this coalition made an unsolicited offer to the equity fund, which is when all the “kicking, scratching, maneuvering, negotiating” and yes, wrestling, began. It was a long, arduous process, but the equity fund relented and agreed to sell the building to the coalition. “I think they started to feel the pressure,” he says.

The deal closed in July, with most of the tenants on board as owner-operators and the whole effort was named 665 LLC, although Morwood said it would be renamed something along the lines of the Munras Medical Complex.

“The greatest feeling in the world is walking into the building knowing that we own it!” says Morwood, “it’s not a disinterested party from 2,400 miles away. We are the landlords. We did it, with a lot of help from some very hard-working pros.”

The building only has one space open now, the allergist has expanded operations and the Revitalessence Medical Spa & Laser Center has opened a branch.

And Morwood accomplished one other goal: “We fixed the roof! Now when it rains we don’t have to worry and wonder if the ceiling will cave in on us!”

The Monterey Chamber of Commerce will hold a ribbon-cutting ceremony and reception to celebrate local ownership of the 665 Munras building on Thursday, 17 Jan. 17, 2019, at 5:30 p.m. The public is invited to attend.

Contact:

Marci Bracco Cain

Chatterbox PR

Salinas, CA 93901

(831) 747-7455

http://www.montereychamber.com/

T5 Data Centers™ Continues Success with New Major Financial Services Tenants

T5’s Purpose-built Data Center Design Offers the Redundancy, Security, and Versatility to Continue to Attract Tenants with Business-critical Computing Needs.

Atlanta, GA, USA (April 23, 2014) — T5 Data Centers™ (http://www.t5datacenters.com), innovators in providing state-of-the-art, customizable and highly reliable computing support environments for any enterprise, today announced the signing of a new lease with a New York-based financial services company for space in T5’s purpose-built T5@Atlanta data center in Alpharetta, Georgia. T5 was chosen over other competing providers because of its robust and redundant data center design, and its reputation for excellence in data center operations, and maintaining critical systems uptime.

T5@Atlanta is a purpose-built, Tier III, server-ready data center with multiple data suite sizes and densities within its secure, bunkered facility. Each data hall suite is separated by slab-to-deck, fire-rated walls for autonomous operation, and security of regulated personal financial and/or health information. T5@Atlanta boasts over 100,000 square feet under one roof; nearly 55,000 of that with raised floor. It also features an installed critical IT power load of 6,000 kW, expandable to 9,000 kW. T5@Atlanta is LEED Silver certified, offers tenants significant tax incentives, operational control of their whitespace with guaranteed power and cooling availability within the robust utility, and fiber-rich Alpharetta Technology corridor.

“T5 continues to attract discerning customers such as financial services companies and healthcare firms that need to maintain sensitive data, and address security as part of their own compliance requirements,” said Tim Bright, Senior Vice President, of T5 Data Centers. “They come to T5 because of our reputation for reliable service, operational stability across our national portfolio, our willingness to customize our security, and power redundancy and resiliency. With backgrounds in Enterprise Data Center development, operations, and consulting, T5 approaches data center design differently by designing the kind of data center our clients would build themselves, even before we start customization.”

One of the unique features of T5@Atlanta is its power redundancy. T5@Atlanta is fed by five separate substations; two of them on Georgia Power’s “Hi-Reli” system for mission-critical users. The 25-kilovolt feeds from the substations are encased in concrete with an automatic transfer switch on site, delivering flawless reliability. Three additional substations can also feed the facility if necessary, although the primary and secondary circuits have had a historical reliability in excess of Tier IV requirements.

T5@Atlanta is one of seven sites across the United States within the T5 Data Centers portfolio, all designed with the same attention to reliability and service. Each data center is purpose-built to give customers total control of their own dedicated data hall. The T5 Critical Facility Operations Team provides support from design and construction through commissioning, and beyond. The objective is to give the customer absolute control over Total Cost of Occupancy.

About T5 Data Centers
T5 Data Centers (T5) is a leading national data center owner and operator, committed to delivering customizable, scalable data centers that provide an “always on” computing environment to power mission critical business applications. T5 Data Centers provides enterprise and wholesale colocation data center services to organizations across North America using proven, best-in-class technology and techniques to design and develop facilities that deliver the lowest possible total cost of operations for its clients. T5 currently has business-critical data center facilities in Atlanta, Los Angeles, Dallas, and Charlotte with new projects announced in Portland, New York, and Colorado. All of T5’s data center projects are purpose-built facilities featuring robust design, redundant and reliable power and telecommunications and have 24-hour staff to support mission-critical computing applications.

For more information, visit http://www.t5datacenters.com.

Contact:
Aaron Wangenheim
T5 Data Centers
(415) 292-7700
aaron@t5datacenters.com
http://www.t5datacenters.com