Maintenance, Building Depreciation and Land Rent

2013 ◽  
Vol 357-360 ◽  
pp. 2207-2214 ◽  
Author(s):  
Benedetto Manganelli
Keyword(s):  
Market Value ◽  
Property Management ◽  
Land Rent ◽  
Corrective Maintenance ◽  
Building Maintenance ◽  
Opposing Force ◽  
The Right

This paper aims to explore three closely related issues: building maintenance, building depreciation, land rent. What makes these three issues deeply connected is the market value of the property. The choice to carry out preventive or corrective maintenance depends on how the building is affected by age (physical depreciation) and on the trend of land rent. Physical depreciation and land rent are phenomena that act with opposing force in determining the market value of an asset. Because the maintenance is strongly influenced by this value, it becomes crucial to identify the factors that cause it. The combination of the dynamics of two phenomena can (or not) make convenient maintenance. The right interpretation of the correlations in these problem areas can support a better property management / maintenance by owners, managing agents and related parties.

scholarly journals THE APPLICATION OF MULTI-CRITERIA ANALYSIS TO DECISION SUPPORT FOR THE FACILITY MANAGEMENT OF A RESIDENTIAL DISTRICT

2003 ◽  
Vol 9 (4) ◽  
pp. 241-252 ◽  
Author(s):  
Tatjana Vilutienė ◽  
Edmundas Kazimieras Zavadskas
Keyword(s):  
Decision Support ◽  
Facility Management ◽  
Multiple Objectives ◽  
Facilities Management ◽  
Property Management ◽  
Management Process ◽  
Building Maintenance ◽  
Residential District ◽  
Maintenance Work ◽  
Made In

The article deals with the problem of dwelling maintenance. In this paper the process of building maintenance in Lithuania is analysed, the activities of subjects carrying out maintenance work described, and a comparison of maintenance variants was made applying the methods WSM, WPM, AHP, Revised AHP and Topsis. A method of multi- criteria complex proportional evaluation of the projects was also applied for determining the efficient variant and the degree of its utility. The analysis of the application of the multi-criteria methods for solving the problems with multiple objectives was also made. In striving to prolong the existence of buildings the professional use of a property should be ensured. The article presents a model of property management with the participation of monitoring organisations. This model helps ensure a more effective facilities management process and the work quality in dwellings.

scholarly journals FINANCIAL MARKET SPECULATIVE TRANSACTIONS

2013 ◽  
pp. 141-148
Author(s):  
K. E. Маnuylov
Keyword(s):  
Economic Crisis ◽  
Financial Market ◽  
Market Value ◽  
Financial Derivatives ◽  
Property Management ◽  
Real Sector ◽  
Risk Valuation ◽  
Sector Performance ◽  
Xix Century ◽  
Basic Asset

The article highlights the transformation of financial market, which determines its insulation as an independent economy sector. The tendency was first analyzed in late XIX century and has been developing since then, resulting in dissociation of real and financial sectors. Due to uncertainty traders lack decision guidelines, as speculative transactions do not imply property management. As a result, their decisions are based on expectations and market value losses any connection to real sector performance. Financial derivatives development through late XX century has brought financial market independence to a new level and inflation of the sector to values, exceeding world GDP. Stock market has provided the basis for property and management separation, and derivatives, in turn, separate returns from property and risk from asset. As risk valuation turns out to be the measure of market expectations, it is sure to affect the basic asset prices even more than underlying real capital. The imbalance is believed to have been one of the determinants of the modern financial and economic crisis. Financial market has evidently transformed to a casino to a greater extent, than Keynes identified.

scholarly journals Development of scientific and methodological approach to quantitative and qualitative assessment of intellectual property management in industrial enterprises

2021 ◽  
Vol 2 (13 (110)) ◽  
pp. 28-41
Author(s):  
Diana Raiko ◽  
Viktoriia Cherepanova ◽  
Ihor Sylka ◽  
Olha Podrez ◽  
Irina Fedorenko
Keyword(s):  
Intellectual Property ◽  
Quantitative Assessment ◽  
Methodological Approach ◽  
Market Value ◽  
Qualitative Assessment ◽  
Property Management ◽  
Industrial Enterprises ◽  
Intellectual Property Management ◽  
Intellectual Potential ◽  
The Impact

The competitiveness, market value and income of an enterprise depend on the level of intellectual property management. Therefore, the aim of research is to develop, substantiate and test a scientific and methodological approach to a quantitative and qualitative assessment of the management of intellectual property of industrial enterprises.  The originality of the proposed approach is that on the basis of the concept of "management of intellectual property" a procedure for current management has been developed, the main stage of which is a quantitative and qualitative assessment. The assessment is based on the structural and logical model, which is built according to two criteria. The criteria make it possible to determine the current state of the use of intellectual property (intangible assets) – a quantitative assessment, and the prospect of further use (intellectual potential) – a qualitative assessment. A quantitative assessment involves the calculation of indicators characterizing the state of assets, the dynamics of the impact on the market value of the enterprise, the profitability of production, which is proposed to be determined through the net cash flow from operating activities. A qualitative assessment is carried out in terms of components (information and investment, organizational and legal, economic, personnel and motivation), tools and relative indicators that characterize the intellectual potential of an industrial enterprise. The assessment is carried out using a general integral indicator, which is of practical importance, since it shows the existing level of intellectual property management and directions for improvement in the future. The approbation of the scientific and methodological approach was carried out on the example of three Ukrainian coke-chemical enterprises (CJSC Avdeevka Coke Plant, CJSC Zaporozhkoks, CJSC Yuzhkoks) of the American association SUNCOKE ENERGY, INC and the Polish association J.S.W. S.A. Group. Empirical studies for the period from 2015 to 2019 made it possible to build a scale for assessing the level of intellectual property management according to the Harrington function

Constitutional nature and content of the right to restitution of an expropriated property

2020 ◽  
Vol IV (IV) ◽  
pp. 20-34
Author(s):  
Kamil Zaradkiewicz
Keyword(s):  
Public Investment ◽  
Property Management ◽  
Real Property ◽  
Expiry Date ◽  
The Real ◽  
The Public ◽  
Constitutional Principle ◽  
Public Purpose ◽  
The Moment ◽  
The Right

The Act of 4 April 2019 on amending the Act on Real Property Management added a provision temporarily limiting the possibility of demanding restitution of the expropriated property. On the basis of the new provision, the right of the previous owner or its legal successors to restitute the expropriated property has ceased to be of perpetual nature. This right may not be exercised, as it previously was the case, at any time, as it expires 20 years from the date on which the decision to expropriate became final. This solution should be assessed negatively, as it deepens the non-constitutional nature of the statutory mechanism of restitution of expropriated real property, which makes the demand for restitution dependent on whether the public objective has been assumed (i.e. started to be implemented). If this is the case, then, in the light of the Real Property Management Act of 1997, the restitution of real property can never be claimed, and therefore even if such an objective in the future ceases to be implemented (e.g. as a result of the end of the operation of the real property as part of a public investment). However, in the light of the constitutional arrangements relating to the guarantee of ownership, the right to restitution of the expropriated property should always be vested in the expropriated owner or his/her legal successors whenever the public objective justifying the expropriation has not arisen as well as when it ceased to be implemented. In any event, the condition for claiming restitution shall be a claim made by the person concerned and a return of an appropriate, indexed sum paid as compensation for expropriation. The constitutional principle of the protection of individual status of property of the owner results in the “conditionality” of the transfer of ownership by way of expropriation to the State or another entity. Any existence and implementation of an appropriate objective justifying the expropriation for a public purpose, grants of the ownership and its permanence on the part of these entities. As a consequence, also the possible expiry date of the claim for the restitution of the property, expropriated after the expiry of the public purpose, should run from the time of such expiry and not from the moment when the decision about expropriation became final.

The development of municipalities property management as a financial tool

2014 ◽  
Vol 32 (1) ◽  
pp. 78-93
Author(s):  
Christos Pallis ◽  
Petros Pallis
Keyword(s):  
Local Government ◽  
Real Estate ◽  
Public Management ◽  
Entire Population ◽  
Property Management ◽  
Commercial Development ◽  
Content Type ◽  
Government Organizations ◽  
Road Map ◽  
The Right

Purpose – The concept was that municipal real estate was an asset which consisted of a combination of measurable and hard-to-estimate returns (including social benefits) rather than a public good. Many local government organizations attempted to capitalize and assess real estate, with a view to generating revenue for local authorities. Others proceeded to use direct private sector financing for the construction of municipal infrastructure, in exchange for the right to use public land for commercial development purposes. In Greece, the institutional framework for local government organizations prevented local government from playing an essential role, because of their limited powers and financial resources. There are two key questions coming up within this context, which are the main subject of the research: What are the financing instruments used by municipalities today? What are the financing instruments that municipalities would like to use today? No research has been done so far on the above questions at such sample level as used in the research, i.e. all the municipalities in the territory of Greece. The paper aims to discuss these issues. Design/methodology/approach – The paper presents the literature review of the property management and the methodology of an empirical research through structured questionnaire that was sent to the entire population of Greek municipalities. Findings – The main findings regard the financial instruments used by the Greek municipalities and funding schemes from various sources. Apart from these funding sources which Greek cities actually use, the present research has investigated the sources of funding that municipalities would like to use. Practical implications – The paper consists a detailed road map for practical public management. Originality/value – The questionnaire was sent to the entire population of Greek municipalities, characterized in this way with considerable heterogeneity. The sample equals the whole population, which has been investigated for the first time, regarding the Greek Paradigm.

The Economics of the Right to Keep a Dog

2015 ◽  
Vol 23 (4) ◽  
pp. 343-362 ◽  
Author(s):  
Yung Yau ◽  
Shuk Man Chiu
Keyword(s):  
Hong Kong ◽  
Revealed Preference ◽  
Urban Housing ◽  
Living Environment ◽  
Property Management ◽  
Transaction Data ◽  
Animal Domestication ◽  
High Rise ◽  
Private Housing ◽  
The Right

Dog guardianship has gained popularity in many cities as a result of animal domestication. In spite of its benefits, dog guardianship in high-density urban housing creates certain problems, including increased health risks. Conflicts between different interested parties over the right to keep dogs have therefore surfaced. In Hong Kong, a lawsuit was initiated by a resident in a private housing estate, Mei Foo Sun Chuen, to overturn dog bans imposed by the property management company. The court’s judgment stated that dog bans are enforceable only if dogs are explicitly prohibited in the deed of mutual covenant. This study aims to value empirically the right to keep dogs in private housing based on an analysis of a set of housing transaction data in Hong Kong. It also investigates how the value of the right has changed with the court judgment. The findings suggest that the right was negatively valued by the market, but the court judgment increased its value. These results demonstrate a revealed preference of the Hong Kong community for dog guardianship in a high-rise living environment.

Taking Community Seriously: Lessons from the Israeli Disengagement Plan

2014 ◽  
Vol 47 (1) ◽  
pp. 149-171
Author(s):  
Shai Stern
Keyword(s):  
Private Property ◽  
Market Value ◽  
Eminent Domain ◽  
Similar Formula ◽  
Property Owner ◽  
Residential Communities ◽  
Property Owners ◽  
The Subject ◽  
The Right

Eminent domain, or the expropriation of private property, is among the most controversial of legal arrangements. The challenges and threats that it poses to private property make it the subject of debate and dispute. Surprisingly, however, most Western jurisdictions embrace a similar formula to address expropriation, both in terms of the purposes that justify such action and the compensation that should be awarded to property owners.This article challenges the prevailing eminent domain formula, according to which, regardless of the circumstances of the expropriation, compensation to the property owner is determined by reference to the market value of the property. By exploring the case of Israel's 2005 disengagement plan, as a result of which 21 residential communities were uprooted by expropriation, this article argues that loss of communality should be taken into account in expropriations that uproot entire communities. However, in order for the legal arrangement to be efficient, fair and, of no less importance, to reflect the values embodied in the right to property, it should be constituted within a normative infrastructure that takes into account the values that the society wishes to endorse, and the inner meaning of these values.

scholarly journals ENHANCEMENT OF ASSESSMENT OF THE INTANGIBLE ASSETS OF THE COMPANIES BY MEANS OF SUBTLE SETS

2017 ◽  
Vol 5 ◽  
pp. 106-113
Author(s):  
Andrei Diamandescu ◽  
Ion Ioniță
Keyword(s):  
Fuzzy Set ◽  
Information Needs ◽  
Intangible Assets ◽  
Market Value ◽  
Econometric Models ◽  
Fair Price ◽  
Essential Contribution ◽  
The Right

The reason for approaching this topic in our article starts from the fact that the value of goodwill (GW), which is an indicator that expresses the intangible value of the company, that is a factor with essential contribution to the company’s market value, is determined through a method which we consider to be imprecise – respectively as difference between the price of sale of the asset and the value estimated by the evaluator. Or, the result obtained by this method is not accurate, and it does not answer the knowledge and information needs of the manager. In this article, we refer to the fact that managers also want to know, besides the GW, the factors that contributed to its achievement and factors that contributed to its achievement and in what percentage. The need appears more important in cases of the sale of companies when both the buyer and the seller are interested in establishing a fair price, based on the market value of the company in question. Starting from this practical requirement, the authors plan to elaborate econometric models based fuzzy set, by which they would determine the right level of the goodwill and to provide information in connection with the generating factors

scholarly journals Intellectual property in the digital space

2021 ◽  
pp. 82-89
Author(s):  
O. IZBASH
Keyword(s):  
Intellectual Property ◽  
Intellectual Property Rights ◽  
Computer Games ◽  
Digital Art ◽  
Property Management ◽  
Digital Space ◽  
Art Objects ◽  
Intellectual Property Management ◽  
Real Objects ◽  
The Right

The article examines the modern view of art in the digital space and the regulation of intellectual property in connection with this phenomenon. The author reveals the concept of blockchain and non-fungible token, their development and impact on the rights of creators. There are many challenges for digital artists today. One of them is that digital art objects can be easily copied as many times as you want. Yes, many will say that you can just save a picture and such saved copies would not differ from the original. But there is one nuance, or rather the opportunity provided by NFT – it’s the right to own the original version of the work. It is like having an original painting on display at the Louvre, and other reproductions and copies outside it will only promote and increase the value of this work, as it will become more recognizable. Therefore, NFT allows you to capture your intellectual property rights, which are confirmed in the blockchain. The use of NFT can be a new tool in the field of intellectual property management, creating new opportunities for the market and its participants, making it more convenient, because transactions with tokens are cheap, simple and faster than transactions with real objects to which they are tied. It is worth noting that the hype surrounding the use of NFT does not revolutionize art, computer games, or intellectual property itself, but it does offer significant new opportunities that deserve attention.

scholarly journals EUROPEANIZATION AND RECODIFICATION. USUFRUCT

2021 ◽  
pp. 40
Author(s):  
R. Maydanyk ◽  
◽  
N. Popova ◽  
N. Maydanyk ◽  
◽  
...  
Keyword(s):  
Property Rights ◽  
Operative Management ◽  
Property Right ◽  
Property Management ◽  
Economic Management ◽  
Legal Structure ◽  
Operational Management ◽  
The Law ◽  
The Right

The article examines the features of usufruct in the European countries of Romano-Germanic law, determines the terms for the implementation in the Law of Ukraine of the best practice of usufruct in terms of Europeanization and Recodification. The peculiarities of usufruct in some countries of Romano-Germanic law, particularly in Germany, France, Poland, the Netherlands, Switzerland, Georgia, Moldova and Russia are studied. Usufruct, which is a flexible and universally recognized in the legal systems of Western Europe property right of personal possession for use, which is treated as an independent property right to another's property in the countries of Roman legal family or a kind of easement in the countries of German legal family, remains unknown to most countries – republics of the former Soviet Union. The law of Ukraine also does not provide for the institution of usufruct and regulates the relationship of long-term use of someone else's real estate through a number of limited property rights (emphyteusis, superficies, the right to economic management, the right to operational management) and obligational legal structures (usually land lease and property management). The authors came to the conclusion that it is necessary to introduce the institute of usufruct into the Ukrainian law by supplementing the Civil Code of Ukraine with a new chapter "Uzufruct", the framework provisions of which are proposed in this paper. In the law of Ukraine it is expedient to recognize usufruct as an independent, different from easement, real right of personal possession for use, which serves as a general provision on emphyteusis (the right to use someone else's land for agricultural purposes). In this regard, the provisions of Chapter 32 of the Civil Code of Ukraine on usufruct should be applied to relations under emphyteusis, unless otherwise provided by the provisions of the Central Committee on emphyteusis and does not follow from its essence. According to its purpose, the legal structure of the usufruct can perform any functions of personal possession for the use of another's property, which allows the use of this legal structure in any area of property use, regardless of whether the purpose is income or other socially useful result (charity, etc.). The absence of usufruct in the national law hinders the effective transformation of legal titles on a state and municipal property by waiving the right of economic management and the right of operative management in terms of recodification of the civil legislation, and does not promote formation of the full-fledged land market and its steady development in the terms of cancellation of the moratorium on sale of the agricultural lands, conducting commodity of agricultural production in Ukraine. Regarding the recodification and cancellation of the Commercial Code, usufruct is the most acceptable replacement of the right of economic management and the right of operative management. Along with long-term lease and property management, the usufruct is functionally similar to the right to economic management and the right to operational management. Unlike property management and lease, usufruct provides for paid or gratuitous use of property in the user's own interest (usufructuary), imperatively defined by law, the content of the rights of participants and a list of grounds for their termination under the rules of property rights.

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