Pickering Real Estate
Are you searching for Pickering real estate? Basically, real estate is a vital part of corporate and individual wealth. When an ordinary person hears of real estate the very first thought is absolutely owning the real property. However, there is a different side to that concept in real estate law. What then is real estate?
What is a Real Estate?
Real estate is simply defined as land and whatever structure is on it including fixtures and plants. However, real estate law defines land as an interest in a real estate. In real estate law, real property ranges from absolute control of the property to just barely owning it. Real property maybe commercial or residential. It can be owned by someone but yet be used by another person through property lease agreements.
Interestingly real estate can be sold or bought and due to the high value placed on it there are laws that govern transactions involving real property. These laws are known as real estate law.
What is Real Estate Law?
Real estate laws are laws that govern the sale and acquisition of real properties. These laws are put in place to ensure that various transactions related to real estate are properly and legally documented. People who specifically acquire knowledge and skills in real estate law are known as real estate lawyers. These lawyers ensure that every procedure related to the real estate transaction is duly followed. In certain countries like Mississippi, Massachusetts, Delaware and so many others. The presence of a real estate lawyer Pickering based is required at the closing of real estate transactions.
Real estate can be legally passed from relatives to other relatives through a process known as estate planning. It can be owned by two or more persons through limited partnerships, condominiums, corporations and so on.
More so local governments and municipalities have regulations concerning the purpose of the use of lands. These rules and regulations that govern the purpose for which a land will be used for is known as zoning. They serve as a guide to property owners to ensure minimized damage to lands in surrounding environments.
What are the Types of Real Estates?
Frankly speaking, real estate constitutes what is on the surface of the earth and what is attached to it. Which means what is above the land beneath it and what is on it plus the exclusive right to posses it, lease, sell and derive benefits from the land. There are five types of real estate including:
- Residential real estate
This type of real estate consists of any type of property for residential purposes. Examples of residential real estate include; condos, single family houses, cooperatives, townhouses, multifamily houses, duplexes and many others. One characteristic of residential real estate is that the number of individual units must be five or fewer.
- Commercial real estate
This type of real property consists of properties that is used purposely for business. They can be in the form of land that will be used for the purpose of generating cash. They include gas stations, shopping centers, theaters, stores, restaurants, hospitals, medical or educational offices, hotels and so on.
- Industrial real estate
This basically constitutes properties that are used for product production, manufacturing, storage, distribution, and other research and development properties. Examples are power plants, factories, warehouses and so on
This consist of underdeveloped properties including agricultural lands like ranches, orchards, timberlands, farms and bare lands
- Special purpose properties
Special purpose properties comprise greatly of properties that are used by the general public including government buildings, cemeteries, parks, libraries, schools and places of worship.
Pickering Real Estate: Can you find commercial real estates in Pickering?
Commercial real estates are properties that are used purposely to generate cash inflow. To be successful at building an investment in commercial real estate it is important to know the various types that exist. There are about six types of commercial real estate. They include,
Generally, offices can be put into two categories suburban and urban. Suburban offices are office buildings that are usually small in stature and are sometimes grouped into office parks. While urban offices are found in cities and typically include high rise properties, skyscrapers and so on. Some maybe as big as millions in size. They also comprise of educational and medical office buildings.
Retail commercial real estate comprises of properties that offer services to customers for cash. The retail real estate includes of drug stores, shopping centers, power center, regional shopping malls, restaurants and many others.
Industrial commercial real estates are buildings that are used for industrial operations for various tenants. They are usually built in urban areas. Industrial low-rise buildings can be grouped into industrial parks. Industrial commercial real estates can be categorized into four main types namely;
Heavy manufacturing: these are commercial buildings built to house heavily customized machines for manufacturing of products and services.
Light assembly: Usually these types of commercial real estates are not customized. They are basically used for assembly and package products.
Bulk warehouse: these types of commercial real estates serve as storage and distribution centers of produced products.
Flex industrial: these real properties usually contain a mix of office and industrial space
- Multi family
This type of commercial real estate encompasses various types of residential real estate aside from single family homes. They include condos, townhouses, co-ops, apartments and so on. Basically, apartment rentals have been split into property types namely
High rise: this consists of buildings with about nine or mor floors and have at least one elevator.
Midrise: this refers to a building with an elevator typically found in an urban area.
Garden style: this constitutes a one, two or even three-story building apartment bult in a sort of garden setting in an urban, suburban or rural location. The building may or may not have elevators.
Walk up: a four to like say six story building without an elevator.
- Manufactured housing community: this represents a community whereby the operator leases ground floors to owners of manufactured homes.
- Special purpose housing: these are multifamily real properties of any kind of style built for a particular target population including senior housing, student housing, special need housing and many others.
The hotel industry includes establishments providing meals, accommodations, and other services for tourists and travelers. The hotel could be flagged thus a major hotel or maybe independent. There six categories of hotel commercial real estate namely
Full service: this includes on site restaurants and room service.
Boutique: it is usually located in resort or urban locations and has full-service facilities. It usually has fewer rooms and is not be part of the national chain.
This type of commercial real estate may be owned by property investors but do not fall into any of the above-mentioned sectors. They include churches, amusement parks, bowling alleys and many others.
All these and many other commercial real estates are available for Pickering real estate investors to make a choice. The interesting thing is most of them are just a click away. Just by googling Pickering real estate you are sure to find various real estates including the residential types to invest in.