How much is rent in a mall in Mumbai?

Looking to create a fun shopping or pop-up experience? It can be a challenging challenge to find the right room with so many unknown variables — and one of the first important questions that will arise is, “How much does it cost to rent a store in the mall? “You know that temporary shopping interactions are all about finding the right location for consumers to get involved with their product or service. Many malls, however, make you go through hoops to find out the prices for the best stores open.

We also gathered details about what rental spaces are to be sold at the mall, as well as an estimation of what it costs to rent one. We’ll also be offering several alternatives to mall rooms, including chic cafes, vibrant art galleries, and more.

Why do the people in the mall rent out stores?

While shopping centres aren’t as popular as they once were, shopping centres are still a place for shoppers to visit their favourite stores and find new ones. There are several reasons why anyone in the mall would like to rent a store — whether it’s opening a boutique, offering facilities or entertaining.

Another growing area for malls and other rental spaces is the pop-up shops and shopping experiences. Companies are trying to develop exclusive products that aren’t like a typical brick and mortar shop. These short-term events will provide brands of all sizes and budgets with an opportunity to move into a physical market in a city or region that they have not yet had a presence in.

The temporary shops can generate exciting buzz on social media and draw new clients to your company. Besides mall rooms, to give your pop-up a different flair, you can also try other exclusive rental rooms like cafes, art galleries or trendy shop fronts. Later in the article, we’ll have some fun tips to give you an idea of what’s out there beyond space in a store.

How much does it cost to rent a store in the mall?

Retail real estate now in Mumbai is the most expensive, followed by New Delhi and then Bangalore. Rent is calculated on the basis of the floor the store is situated on. The ground floor demands a premium as a rule of thumb and is typically the most expensive. This is only leased to established retailers on the regional and national level. The first-floor rent is about 20-25 per cent lower than the ground and the second floor is about 30% lower than the first floor.
You can expect an average mall rent (averaged over all floors) per SQFT per month to be around Rs. 170 (+ /- 10 per cent) for all Mumbai properties.

Many other malls do not disclose their pricing and only have square footage and other famous businesses in the surrounding area. Bear in mind that many malls will charge higher rents for being close to famous department stores or retail outlets such as Apple. Of course, you want the maximum amount of foot traffic, but in a shopping environment, it certainly would cost you.

Related Post: What is Location-Based Marketing?

How to rent a store in the mall

It can be super challenging to find a retail spot for your pop-up — do you ever wish there was a place in your town that listed every option? Okay, luckily there is something exactly like that already! Rather than renting from a big mall, go local and rent from one of Myrsa’s many hosts — find Temporary rental spaces near you

Myrsa has so many shops, restaurants and stores available for rent in dozens of cities across the country. Plus, rates and services are upfront and you don’t have to go with various sales representatives from phone call after a phone call.

Additionally, Myrsa will help you narrow down what you’re searching for with search filters for location and amenity. Check at the photo collection, see what kind of equipment is included in the rent and get in direct touch with the property’s host.

Other factors to consider

Although cost is a major factor in choosing a property, you should also consider what kind of crowd you get at a mall vs. other retail locations. A shop close to famous bars, restaurants and things to do might be easier on your target market than in a dusty shopping mall.

Finding the response “How much is it costing to rent a store in the mall? “Can be time-consuming and wearisome. We hope we’ve helped you understand the cost of renting a store at the mall with some options that may better suit your needs.

May 6, 2020 0

This is How You Can Make Passive Income With No Investment

Money matters. There should be no doubt about that. If you don’t have enough to satisfy your basic needs and need a couple, there’s no chance you’ll be happy or content in life. Of course, everyone knows this. The desire for money is actually why most of us go to work. But, is it never really enough? There’s always someplace we’d like to visit or some product we’d like to buy but we can’t do that because of our empty bank account. So how do we get that extra piece of money we’re always looking for? The solution is to capitalize on the internet’s power to generate a steady stream of passive income.

The cornerstone of Personal Finance appears to be passive profits. I mean what could be easier when it comes to income than earning without having to exchange your time for money?

Passive income has two main paths-either you spend money to make it happen, or you spend time to make it happen. But there’s one-third option? Kind of.

1. Rent your Space

If you happen to own a vacant space in your house, apartment, office or your store, you have a great source for your disposal to produce passive income. Space rental platform like Myrsa has made it incredibly convenient for property owners to make extra money by renting out their extra space to visitors for short periods of time. Your spaces like studios, garden, classroom, and common areas can be rented out for an hour or a day. List your spaces and start earning instantly.

2. Write a Guide or Online Course

In recent years, online learning sites have become increasingly popular with people who use sites such as Coursera, Lynda, and Udemy to learn courses about their personal interests. Whether it’s web design, photography or digital marketing, if you’re experienced in any area, you can create a course on platforms like Udemy or Unacademy and earn money when users register for it.

3. Sell Pictures of stock

If you happen to be a photography enthusiast, consider selling your images to websites such as Shutterstock, Alamy and iStockPhoto for stock image. The market for high-quality photographs in accordance with this business’ competitiveness. So, if you find a niche (such as landscape photography or business photography) and establish yourself on even one site as an expert in it, you can surely earn a lot of money in your bedtime.

4. Start a podcast

The lives of people these days are so fast paced that the need of the hour has become multitasking. That explains why podcasts have become so popular all of a sudden; they allow people to get information or entertainment while they are in the middle of commuting, working out, cooking, or something else. Podcasts are easier to make than videos from YouTube, and can easily be posted on iTunes. Simply pick a subject you’re well informed about or passionate about, and start a podcast around it, it’s that easy.

5. Affiliate and marketing referrals

Affiliate marketing and referral marketing includes pushing sales to another company and then charging you a fee on each product you make from your efforts. The affiliate marketing plan for Amazon Associates is one of the best choices for people looking for a way to earn money. You need to set up a website with outbound links redirecting to products on Amazon (or another website providing affiliate programs) and if the product is bought by a customer from your site, then that business pays you a share of the amount spent.

6. Offer an eBook.

Writing and publishing an eBook has become a widely popular means of earning passive income in recent years. Notably successful eBooks on non-fiction topics such as online marketing, business development, career advice and the like. Although fiction eBooks are also good sellers, they are far more competitive in the market compared to non-fiction ones. Once you’ve written an eBook, you can put it up for sale on platforms like Amazon’s Kindle Direct Publishing or Apple’s iTunes Connect.

7. Express your skills via video channels [Youtube]

Were there any unique dance moves, singing skills, mimicry art, comedy stand-in or comprehensive exercise sessions? Present your creativity to the world from your own channel, use YouTube videos. YouTube is an incredibly popular and exciting platform for getting yourself a good flow of passive income.

You will be charged higher based on the amount of views, shares, subscriptions and popularity your channel will earn through various categories of users.

A few people who started their own YouTube channel now are millionaires when the video-sharing platform was in its nascent stage. Now that YouTube has become incredibly popular with hordes of people running their own channels making it considerably more difficult to make a million dollars, but it is still possible to earn a decent amount of money. As always, you’re going to have to find a niche that isn’t filled yet, and concentrate on making videos around it. When you start raking up views and subscriptions, with minimal effort on your part, the money will start flowing in.

8. Sell artwork and crafts to you

If you’re a graphic designer or just an aspiring artist, you’ll find plenty of places that will pay you for sharing your work. Sites such as Etsy, Zazzle, and The Souled Store allow people to attach t-shirts, phone cases, mugs, posters, book covers, and more to their designs. The sites then pay a fee to the contributing artist if and when those items are purchased.

April 23, 2020 0

How to Maintain Your Properties During This Time of Social Distancing?

Regardless of COVID-19 social distancing continues to affect life as we know it in the United States,several businesses stepped back, restaurants closed their doors and big events were postponed. With all these problems, there’s one thing that hasn’t stopped for property managers and community association managers, and that’s maintenance requests, repairs, and upkeep.

It’s hard to know what to do in times like these — and you’re not alone — many property managers ask the same questions:

How can I go on with my maintenance activities if I can not go on site?
How can I provide the quality of service my clients deserve when they don’t want a repair technician to visit their home?
How can I guarantee the health of my technicians and my residents while still doing the work?
How will I treat requests for preservation of common areas within my community associations?

Those are tough questions and while we can not answer all of them, at this point we can give you a few easy ways to fix maintenance requests. Here are 5 things property and neighborhood administrators should do right now to improve their social distance maintenance operations:

1.Schedule Non-Urgent Repairs :

One thing you can do to that person-to-person contact with your tenants and staff instantly is to delay non-emergency repairs. Begin by communicating this via email or text message to your people, letting them know it’s for their protection and that of your employees. Be empathetic about their problem and make sure that at a later date you can follow up on their appeal.

Through deferring these types of demands, your maintenance technicians will concentrate their resources on critical repairs— such as roof leaks, plumbing failures, and water main breaks— so that your property continues running smoothly.

When there is an urgent repair that must be done on the house, whether it is indoors or outdoors, make sure that your staff is fitted with protective equipment such as latex Gloves, face masks, and sanitation materials. Additionally, confirm with your residents that your team meets approved CDC protocols and offer to join their unit if they’re on a walk to reduce interaction further.

2.Communications Optimization:

With many of the team members operating remotely and fewer on-site staff, it can be difficult to ensure that you interact efficiently when it comes to maintenance requests and repairs. Fortunately there are mobile devices to help you streamline communications.

3.Keep common places clean:

Clean Another way to keep your property and neighborhoods secure while preventing COVID-19 from spreading is to clean your common areas regularly. Currently, the CDC recommends that regularly accessed surfaces such as door handles, elevator keys, shared bathrooms and regular railings be disinfected. Make sure the cleaning staff do have protective equipment while operating.

4.Consult with vendors:

In addition to cleanliness, maintaining good contact with your vendors and ensuring that they obey the same protocols is very critical. Asking about their COVID-19 management plan is a good idea because you know that you’re on the same page. Send daily email notifications to vendors with the guidelines of your communities to communicate and bring with residents and perform maintenance duties. Additionally, in case an employee calls in sick, create a contingency staffing plan.

5.Perform Digital Inspections:

Some property managers and community administrators may have scheduled annual routine inspections in the coming weeks. Consider postponing these during social distancing, or see whether residents are open to doing a virtual inspection using their devices. Just ask them to take pictures of each room, and then send them to your team by email or text.

Consider waiving late penalties for neighborhood groups where breaches are minuscule.

Social distancing poses problems for property and neighborhood association administrators but you can ensure consistency with your maintenance activities by taking the appropriate steps and using the required mobile devices. Begin by interacting proactively with your employees, vendors, and residents about how you will manage inquiries, preserve cleanliness, communicate with others, and make urgent repairs. When you have a strong business plan in place, you will continue to respond with agility and trust.

Mpower being Property Management Software is useful for managing multiple properties with all the essential features that your business needs. Whether you are a landlord managing a handful of properties or a property manager with hundreds of properties…

March 27, 2020 0

7 ways to find Creative locations for your next photoshoot!

Professional photography is not a tale of success overnight. Many photographers are slow to create. They start with a few side gigs, and build up to part of full-time photography over months or even years.

Yet when you’re just taking a couple of gigs, how do you find a rental photo studio that won’t suck up all the profits?

Portrait studios come in various styles and sizes. From the photography studio in-home to the dedicated building on a busy lane, to the old factory building with magnificent architecture.

You can find inexpensive photography studios rentable for a limited period of time on a small budget. It may be an hour at a time, a day or a month.

Here are 7 innovative and inexpensive ways to find a photoshoot location rental

1. Find rare places for rent.
Google’s quest for photo studio rentals is likely to churn up high-priced locations. That is because they are already being set up as a studio for photography.

You just need a little floor space, and probably a window, most of the time. You can take your own cameras, backdrops and props along.

There are several different types of spaces on a budget which offer floor space. This can act as a studio for cheap photography.

Consider spaces that aren’t a typical studio space in your city. Be sure that they rent out rooms regularly for activities by the hour or by day.

Classrooms, libraries, rec-centers, halls and even the trendy cafeterias are worth checking out. See how the room suits the rental budget for the shoot and the studio.

Myrsa is a one stop location for all your space needs. Find unique rental spaces for a few hours in your desired locations. Browse through various options and find gardens and even cafeterias for your photoshoots.

Related Post: What is Location-Based Marketing?

2. TryAirBNB

Of course, when flying, AirBNB is theoretically for cheap accommodation. But finding some exclusive studio spaces is a cheap way to.

To find an apartment or house with enough floor space you’ll need to search carefully. But the emphasis of AirBNB on the photos in the listing allows you to scope out the room. You can also find architecture that is so perfect that you don’t have to take a backdrop to it.

ThoseAirBNB listings are simply a rentable studio space. Other homes can work great for some types of photo shoots.

3. Speak to a Realtor

Empty retail and office sites can be available to a temporary rental while waiting for a full-time tenant. When the listing is on the market, the owner gets some extra cash and you’ll get a cheap place to film.

Try to reach out to a realtor in the area and inquire around for spaces that could be temporarily available to rent.

4. Use the Home or Office of the Client

If you ask, the client will already have a great room available. This is too unprofessional to move into a client’s home or office for certain forms of shoots. Yet for some it can be the perfect system.

Remember just how common photography in the home lifestyle is today. Not only does the client’s home serve as the office but it is supposed to serve as the office.
It works when your customer is a company, not an person too. When you are taking promotional pictures, it can be a better idea to come into the company instead of sending the goods out.
Keep in mind that this sort of shoot will be perceived by certain clients as unprofessional. Be sure to offer this type of shoot with another location option and don’t push if the client says no.

5. Join a Studio Co-Op

Studio co-ops allow many artists who may not have enough work to support a full-time studio to share the space. You’ll get a picture studio that you can regularly use, but you’re not going to pay as much as a dedicated studio.

Search for a coop that has already been developed in your city— several larger cities have open spaces for the cooperatives.

If your area has no co-op space, you can always approach friends to start your own and lease a room for sharing.

You’re going to want to consult with an expert— like a realtor and/or lawyer. We should make sure that we figure out just how to manage the room ahead of time.

6. Creating a Studio Space Within Your Home

Many photographers begin by creating a studio space at home. A space in the home is also temporarily converted to a shooting studio. When the shoot is over, it then goes back to its old function.

A room is set aside as a dedicated studio area for others. Many photographers also remodel outbuildings and garages. And they build an inexpensive studio room, dedicated to it.

An in-home studio may not feel as professional as other choices, like shooting from the client’s house. Especially if the room is not separate from the rest of the home and customers have to walk through your home in order to get into the studio.

7. Take Outdoors Studio

Do you need a studio room, or just a room? Although some shoots need an indoor venue, other shoots need only a spot.

Most areas outside are safe to fire in. From the backdrop of nature to a brick wall in the lane. Outdoor spaces also give the shoot’s almost infinite atmosphere.

You can’t monitor the light with an outdoor shoot, as you can inside a studio. There is (usually) no connection to a power source, either. You’ll also need to work with Mother Nature and the shifting weather.

Outdoor locations, however, can yield excellent shoots and even improve creativeness. Especially with shoot styles usually taken indoors, such as product photography.

Find different outdoor locations on Myrsa. From open grounds to cute gardens rent them for a temporary basis on Myrsa.If you want such types of spaces then please fill this form:

March 26, 2020 0

How has Coronavirus Impacted the Indian Real Estate Industry?

The outbreak of coronavirus in Wuhan, China, has affected market sentiment around the world. As allied companies such as steel, heavy machinery, and other raw materials are heavily dependent on Chinese imports, the Indian real estate industry would also be indirectly affected.

Coronavirus has infected more than 60,000 people worldwide and has claimed over 1,400 lives in China. Business sentiment is severely affected with it being declared a global health emergency by the World Health Organization (WHO). The outbreak has created a lot of speculation regarding trade and imports, not just in China but around the world. Nor is the real estate industry spared. Traders are cautious about visiting mainland China and are sceptical about cutting production in the months ahead. This will have a direct bearing on the steel prices and other articles used in India’s construction industry.

Let us address in depth the possible impact of coronavirus on Indian immovable property and related industries.

Why would it affect the Indian Real Estate sector?

India imports extensively products used in Chinese construction activities. Some of them are-

Iron and steel goods
Industrial building equipment
Electronic equipment
Solar panels
Plastic and fibre materials

China remained the largest steel producer with a production capacity of 928.38 million tonnes (MT) in 2018. Although India is the second-largest producer, its production capacity, which stands at 106 million tonnes, lags severely. That heavy reliance on China for steel and steel products is an industry concern. With demand going down in China, prices in the allied industries are expected to increase, thus increasing costs and reducing the profit margins of Indian real estate developers. The slowdown in China’s construction industry will bring downward pressure on world metal prices.

More than 300 Fortune 500 firms worked in Wuhan, China, in 2019, according to a recent report by CBRE. The epidemic will force businesses to provide more flexible work arrangements like’ Work from home’ rather than co-working spaces. The companies could delay real estate decisions and limit new launches. The paper, however, points out that the outbreak would affect mainland China more, and neighbouring countries may have only a temporary dip in business activities.

One chance?

Looking from the Indian business perspective, the coronavirus outbreak could be an opportunity for Indian companies to increase their production capacity and give the “Make in India” campaign a boost.

The Indian government encourages steel companies to increase production capacity and grab a greater share of the market. In the current scenario, the Ministry of Steel, Government of India, is preparing a strategy paper to produce 10 million tons of special steel at the cost of 50,000 crore Rs with 50,000 job potential.

Given the skewing of the Chinese supply lines, the industry has an opportunity to explore other markets to procure raw material and reduce reliance on Chinese imports. That could be a veiled blessing for the indigenous manufacture of imported goods such as metal panels, steel bars, heavy machinery and coke.

In addition, the manufacturing companies of solar panels can also take advantage of the reduced supply and increase production to reduce long-term costs.

Echoing the same sentiments, KW Group Managing Director Pankaj Kumar Jain says, “The effect of coronavirus outbreak on Indian immovable industry will be indirect. Though China is directly affected, supply-side constraints offer an opportunity to explore other avenues for procurement of raw materials. The industry is already facing the headwinds of timid demand and global economic slowdown. While the outbreak in the Indian scenario is not yet a threat, the government must take tough steps to prevent the spread of infection so that the business feeling is not further affected.

To sum up, the planet has also faced similar outbreaks in the past, such as SARS virus, bird flu, etc., and has recovered successfully. Any calamity represents an opportunity to reach new heights. Indian real estate and related manufacturing industries have to find scenario positivity and benefit from increased production and indigenous innovation. In times of crisis, the government would do well to stop further virus proliferation and handle the industry.

February 27, 2020 0

What is Location-Based Marketing?

Location-based marketing is a rapidly growing marketing strategy, located right in the middle of the advertisement ecosystem.

In most but not all sectors this advanced marketing approach is a perfect fit. Here’s what makes location-based marketing successful and a few pitfalls you’ll need to avoid.

Marketing based on location: Wherever it operates.

Brands with physical locations are the best fit for location-based marketing, which is evident but worth repeating at all times. Such types of businesses are best suited for geotargeting strategies because location-based marketing and analytics firms will geofence locations to identify the audiences visiting their locations. Marketers build audiences for their geo-targeted ads based on real-world experiences, rather than shares and follow on social media. Using this approach, advertisers ensure that they reach the right audience and deliver appropriate content at the right time.

So who will successfully use the geotargeting campaigns? It covers all retail outlets, catering and dining establishments, grocers, and the list goes on. Below are just a few more examples.

Auto dealers

Auto dealers also profit from geotargeting campaigns which can reach customers of their competitors, especially geo-conquesting. In their final phase of visiting auto dealers, their large retail presence, high-value price tag and purchasing process force advertisers to work hard to reach the car shoppers.

Pop-ups and seasonal stores

The businesses and brands with seasonal stores and time-specific events often create impactful geotargeting strategies when they meet the right requirements. Talk of pop-up tax bureaux and holiday shops.

Marketers for these brands use publics seen at their previous year locations to offer ads to the same audience, enabling return visits the following year. To encourage future ticket purchases, professional and college sports teams use location-based targeting to meet the audiences who visit their stadiums each season. A trade show that takes place in a large venue over several days, attracting thousands of attendees, is an effective way to capture a business-to-business public.

Tourism boards

We have also seen travel and tourism boards use geo-targeted campaigns with success. For example, a marketer who works to encourage tourism in Charleston, SC, may decide to convince Savannah, GA tourists to visit their location next summer instead.

Ecommerce companies

In some cases, marketers at e-commerce firms and consumer packaged goods (CPG) firms can also use location-based marketing. Whether they have physical retail stores or not, eCommerce companies are competing for customers who visit rivals that have shops. Likewise, businesses that stock items in specific stores may use geotargeting for consumer-packaged-goods (CPG). A business with a high-end hair care product that can only be sold at salons should use location-based marketing to target customers who frequent those salons.

Location-based marketing: What to avoid

Those who use every targeting technique know that there are limitations to each strategy and location-based marketing is no different. These restrictions can be in terms of both data quality and quantity, as well as regulatory and compliance limitations.

Locations that don’t scale

The most common obstacle to build an effective location-driven campaign is to discover that places are not going to scale up to create a substantial audience. This difficulty can come from a variety of issues like choosing a single location to examine without heavy foot traffic, events that don’t last long enough to attract the right audience or smaller markets with limited data to start with.

Marketers also sometimes consider location-based audiences difficult when companies are clustered closely together or on top of each other, as in malls or multi-use buildings. It is difficult to create a market for a store located on the street level of an apartment building, or tourists to an office located on a skyscraper’s 12th floor. Marketing and analytics firms based on location may not be able to determine the difference of who is a shopper and who lives or works on the floors above or below the desired location.

Products or services available everywhere

Recall an example of this high-end hair care product? If it’s only available in certain salons, then ads based on the location will work well. But if it’s available somewhere, the plan would just not work.

Goods that are omnipresent, and can be sold in a variety of locations — think bubble gum, soft drinks, pet food — do not benefit from observations derived from a distance. Such advertisers should use other targeting strategies to reach their customers more efficiently, such as demographics and buying history.

Businesses with sensitive data

Considering the sensitive nature of the data, brands at certain places, such as healthcare facilities, can pose another challenge for location-based campaigns. Compliance companies such as the Network Advertising Initiative, the Digital Advertising Alliance, and TrustArc have membership requirements that stipulate appropriate business practices and how their member firms will treat opt-in authorisations. We play a vital role in providing protections for customers in the absence of robust federal legislation.

Usually, adhering to these codes of conduct, location-based marketing firms do not encourage advertisers to build markets around sensitive areas, especially related to health care, or participate in any discriminatory practices. These same principles apply to the right to personally track or target another person. Marketers have no desire or motive to target one market, but rather large audience cohorts which exhibit similar behaviours or characteristics.

What’s next for location-based marketing?

There are three important elements in the future for location-based marketing: legislation, the emergence of new data sources, and attribution.

The end goal is a standardized structure that voluntarily welcomes both consumers and businesses, and one that gives greater clarity and control over data practices across the entire data ecosystem.

The 5 G rollout would create massive sources of highly accurate location data, combined with the introduction of billions of new sensors over the Internet of Things. The 5 G towers must be more tightly grouped together than the current cell phone towers. Such finer clustering means cell phone carriers can triangulate position with a greater degree of precision than they can do today. 5 G also offers quicker upload and download rates, driving the proliferation of more internet-connected devices across a variety of products and industries. As these billions of sensors come online, they will not only produce location data but also other valuable data sources to track the use, usage and life cycle of goods. It is yet to be determined how advertisers, academics, and regulatory bodies interpret, evaluate, and use the more granular data.

Finally, advertisers will be gradually held accountable for their ad spend, requiring evidence that their ad spend results in new foot traffic and sales. We’re a long way from demonstrating that digital ads, and most other advertising formats, have resulted in actual sales in the shop. There are just too many unconnected silos of data to put meaningful and statistically relevant findings together. The ad seen on TV can not tell your phone or laptop that it has also been watched, while the point-of-sale or online checkout system can not alert the prior touchpoints to confirm that the sale has taken place. Given these challenges of tying online ads to offline sales, when using location data, marketers adopt a macroeconomic view of attribution. They assess how their campaigns affect foot traffic at their own locations, as well as competitors, as another data point to measure the effectiveness of their ad spending.

The Last Line? Such improvements are all new opportunities. It is because of its efficiency that advertisers can continue to invest in location-based marketing. Understanding what works and what isn’t the basis for any successful campaign.

Myrsa will help these marketers to easily find temporary rental spaces in high footfall areas. Register your Brand with Myrsa and start your promotional activities now.

February 21, 2020 0

Ways to Improve Your Budget 2020 As a Landlord

Budgeting for rental properties is an essential part of a rental business. The more detailed you find the budget plan, the more likely you will be able to properly evaluate your current financial situation to get a full picture of your potential earnings and to build your financial goals.

However, it doesn’t always turn out the way you expected things. Emergency expenses, one-time payments or unexpected expenditures may keep you from bringing your company to the next level.

There are a few ways to prepare your budget thoroughly for the coming year so that you can avoid any future surprises.

Let’s look at the four ways your 2020 budget could be improved:

1. Calculate Monthly Income and Expenses.

Make it a habit to regularly calculate your corporate and personal finances. You can manage your business expenses by keeping track of your monthly income and expenses, and learn how to set aside money. This form of financial planning assists in maintaining a balanced budget and in creating a competitive business.

2. Use a Digital Accounting Tool.

Some proprietors tend to use digital tools that help manage multiple assets. You should (and should) look at financial software or property management systems that deal with your rental business ‘ financial aspects. If you use a cloud-based service, all financial data and a full transaction history will be stored in one location, so that you can access it conveniently whenever you want.

Any online accounting tool will help you stay on top of your finances anyway.

3. Understand the Tax System.

Taxes always looks a little daunting for landlords. But it’s essential to know how things work and what tax deductions you can take. Deductions may include loan and business card interest, property depreciation, insurance, fees and taxes, professional services, utilities, travel costs, equipment and suppliers, marketing costs, home office costs, tax preparation costs, etc. Make sure you document all the expenses you plan to deduct.

Once you get notified with your rental tax benefits, you’ll be able to precisely plan your budget for a year ahead.

4. Encourage your tenants to keep the track of rent payments.

Your tenants might not want to keep track of all the expenses (and that’s their choice), but at the very least it is necessary to monitor rent payments. To this end, encourage your tenants to record each transaction related to the property they make. Say when you were out of town they had to cover expenses related to urgent repairs; you’ll probably want to refund the amount paid for the services. That’s why having it documented somewhere makes sense.

MPower as a Property Management Software manages all your financials from rental proceeds and receivable details of your properties at one place. You can track the financial aspects of your properties and related reports of property performance and occupancy tracking with Mpower.

While a one-time cost will not significantly affect the budget, it is always better to be prepared for unforeseen expenses.

Getting a precise picture of your finances gives you a sense of control over your money and helps you make better decisions about spending.

February 4, 2020 0

How to run a comedy night?

With the comedy scene more popular than ever, an audience is hungry for spending their time and money on high-quality stand-ups. Whether that’s selling out household name arena tours or smaller venues highlighting the new underground talent. If you’re thinking about taking a slice of that comedy pie, but are new to promote, or just want some new ideas, we’ve produced this guide on how to put on a comedy night out.

Finding a Venue

You will be limited to some extent by budget and availability when it comes to finding the perfect venue, but there are venues out there for all kinds and sizes of comedy shows –you just have to find them! The first step is getting to know what to look for.

Location: Make sure the venue is central and with good transport links. Even the most breathtaking building, if it is a mission to get there, will not sell tickets.

The venue: Then anything goes as long as the venue facilitates entertainment shows. Having said that, when booking a comedy show venue, there are certain specific things you should think about. It is necessary to set up the room itself so that the sound reverberates around the room, in particular looking for venues with low ceilings and brick walls. This means emphasizing the sound of laughter and applause, making your audience feel less self-conscious and more likely to be throwing themselves into the show.

Facilities available: Most importantly, there should be a dedicated performance space at your venue, anything from a theatre to a function room in a pub. Try and find a venue with a Green Room to prepare the comedians. Whatever the popularity of your acts, they will probably not appreciate sitting with their audience outside.

When you book a venue, be sure to discuss whether the hiring fee is based on a direct booking fee or a share of profit. Some venues demand a fee to hire the room and make up their money from the sales of food and drinks. Other venues prefer a profit split, where a percentage of ticket sales are taken. You should make sure you understand this from the beginning so that you avoid any surprising fees later on down the line.

Equipment for a Comedy Night

Venues that have live music on a regular basis will likely have their own lighting and sound equipment, but it’s always best to check what facilities they have. For a quality comedy show, the following equipment is required: –Spotlight and adjustable lighting–Microphones of good quality–Microphone stands–Raised stage or performance area–PA system–Music system

Once you have selected your actions, you’ll need to check this list to make sure you’ve got all the resources they need for their actions. A double act, for example, would need two microphones and two microphone stands, and a musical comedian will need a vamp. Do the professional thing, and ask the comedian in advance of the show what tools they need.

Budgeting for a Comedy Night

Budgeting is an essential part of every event that you put on. You can easily make a loss before you even start, without knowing your budget. It’s essential to know your breakeven point and help you with ticket pricing and knowing what you can afford for advertising and nighttime extras. There are several costs to remember including:–Venue hire–Driver–Vehicle hire charge for your plays

How to choose your comedy acts

You need great comedians to do a great comedy series. Planning your line-up carefully is key to the success of your show. Walk the circuit and see as many performances as possible–open mic nights can be a great way to provide a platform for emerging talent. If you’re keen on a certain comedian, talk to them after the show and introduce yourself–putting a face to the name is always best.

Keep it interesting, and reserve a mix of acts. There are a variety of comedy types that you can mix to keep things interesting alongside observational comics like one-liners, but always ensure the content is good.

Note this is heavily influenced by the weekday when you pitch a charge for your plays. Thursday and Saturday nights are peak hours and therefore more costly, while Sunday through Tuesday nights are cheaper and comedians are more likely to be available and try a gig.

Planning

Setting out the venue

The trick to setting up your venue is to make sure your performances are the main focus of the evening and to make your audience feel at home. That can be done in several ways.

First, the comedian should be on a stage or raised platform, it is important for the audience to be able to see them from at least the waist. Comedy is all in the delivery so you want to make sure your audience is always able to read the body language of the comic.

Bad lighting can ruin a display. If your location lacks adjustable lighting, look for some to employ. Your comedian is supposed to be well lit but not blind. We should see their audience and should be able to read their responses.

Your audience ought to be in the dark. It makes them feel less aware of themselves and more likely to dive into the evening.

To create an intimate and relaxed atmosphere, seats from the front should always be filled in first. Blank tables and chairs do nothing to maintain the confidence of a comedian or an audience.

Marketing & Promotion

Without a great crowd, a comedy show is nothing. It’s your job as the promoter of the show to make sure everybody who might be interested knows when and where your comedy night is going on.

Whatever your budget, there are a number of ways you can get your show promoted. Announce your show on social media at the very least, and create a Facebook event. Encourage people to share and invite friends; all of this helps to create a buzz around the show. Even the comedians can be great to share with their networks.

Build a flyer and poster that will catch your eye. There are illustrators out there who might be willing to design a poster solely for exposure or a small fee. Visit relevant events, and distribute the flyers once the show is over.

Talk to your venue about posting posters on your message boards, listing the event on the calendar of your website, and even selling tickets directly through the venue. If the venue shows other comedy shows there is even more chance of your target audience seeing your event.

Place your show on websites for free event listings, and contact the local press to let them know about the series. They can include this in a calendar of events.

Challenges and how to overcome them

How to hold back your crowd.

Use your previous ticket sales to build a mailing list, and give them new show information when they are revealed. Try to keep the activities down to the same night whenever possible. When you host a show on the first Tuesday of the month the viewers will soon start searching around this time for show announcements.

What to do if it throws out a comedian?
This scenario is very unlikely if you have picked your acts well, but never say never! To reduce the risk of this happening, make sure you have contacted your acts the day before the show, as well as check your emails and make regular phone calls throughout the show day. Don’t panic if your act pulls out hours before the show. Check at what’s left of your acts and working order. Speak to them about including an opening sketch if you’ve chosen an accomplished MC. Speak about headlining the show to your middle act. They’re very unlikely to turn down the chance.

Technical hitches

The Scout motto’s words: be prepared. At least make sure you always have a spare microphone at your fingertips. If your venue includes a sound and lighting system, it is more than likely they will be providing the evening with a technical engineer. Ensure that they have a list of the equipment that every act needs prior to the show.

Now that you are all set to start your comedy show. Find spaces for rent for your comedy shows on Myrsa.

January 21, 2020 0

5 Keyways to overcome the Risks while optimizing ERP Implementation

Finding the right ERP software solution is not an effortless task to achieve and can prove to be a long and tiring process, but it certainly adds considerable value to the activity and business flow of the company. Nonetheless, purchasing the ERP software as implementation is just part of the entire process, and end-user transfer is the final step for the whole process.

The implementation aspect is where most companies are facing difficulties. In most situations, if not properly implemented, an ERP program could result in reduced ROI, leaving the company helpless. We also identified important risks that need to be tackled when refining the ERP implementation to help businesses avoid the possibilities of any failure due to these risks.

1.The requirement of the business

Before executing it with the ERP vendor and thoroughly testing it, it is essential to document the workflow and business requirements accurately during the implementation of an ERP. Such specifics allow the ERP provider to recognize and configure the specifications, thereby removing any workflow gap.

The company needs to define the goals to be achieved by the new ERP software. The selection process for ERP software is an unimportant attempt if there is no clear goal. It is important to evaluate the existing system in order to set a clear purpose and to clarify the business requirements, and the processes within and outside the system must be observed in detail.

An imperfect implementation of ERP will create different issues, such as unnecessary features, poor integration of the ERP program with business operations, etc.

2. Software Selection:

While selecting ERP software, it is important to choose a system that fits well with the needs of the organization. A proper analysis should be drawn to find the pain and risk areas of the organization, and then only the ERP software should be chosen that can address these sections along with various other functionalities.

This analysis helps in avoiding multiple issues rising down the road, making the new ERP software a success. The ERP software chosen should be equipped with future state technology including additional interfaces and adequate infrastructure to withstand the demands of the performance.

3. Complete control of ERP Implementation:

It is imperative for the organization to pay close attention to all the critical implementation processes such as budget and timeline, selection of the vendor and software, resource strategy, deployment methodology, etc.

The company must pay close attention to all essential processes of implementation such as budget and timetable, product and device selection, resource plan, delivery methodology, etc.

Failure to do so may result in less than expected results from the implementation of ERP software, such as communication issues, inadequate internal support, delays, budget overages, etc.

4.Continuous Support

Commercial property management software is also a form of technology, and it also has a shelf life like any other ever-evolving technology. Therefore, a version update is usually the right solution for a successful implementation.

In such situations, a team of technology professionals working constantly to upgrade and improve the efficiency of the ERP program will take the business to the next level by supporting the strong support system.

5.Data Migration

When a new ERP program is introduced, it is important to transfer all data from the old system to the new system. The cost of updating the data is likely higher for most software and more time-consuming than implementing a new ERP program.

The real reason for such pitfalls to occur is because the data, itself is the issue. The format of the tables used might be different, the software difference between the two systems, poor quality of data, etc.

The best way to overcome these restraints is by choosing a commercial property management software that makes data migration easier in place of making it a sophisticated, grueling task.

Maisonette’s ERP software with its technology professional team helps to overcome all the risks associated with the implementation of ERP making it the company’s best commercial property management software.

The risks are real, and it’s not always possible to avoid these risks but they can still be recognized in time and prevented, and Maisonette at every step focuses on being the support of their clients helping them overcome the issues with ease.

Corporate and commercial agents need an industry-specific and tailored ERP software solution to manage property-based inventory transactions such as office, retail, residential, industrial or branch offices and corporate offices. A real estate software system can monitor different types of property as well as all other asset life procedures like space assignment and many other functions.

January 9, 2020 0

Office rentals set to rise faster in Bangalore

Even as the Indian real estate sector continues to experience a downturn, cities such as Bengaluru and Mumbai are expected to attract healthy office rentals in 2020, mainly backed by rapid IT industry growth, a study said.

Beating not only Delhi and Mumbai but also Singapore and Hong Kong, according to a survey, the rental office market in Bengaluru is now the highest performing one in the Asia Pacific. While rentals in Bengaluru are now lower than BKC from Mumbai and Connaught Place from Delhi, Bengaluru posted the highest 17.6 per cent rental rise.

Due to the availability of the right talent pool and new office assets at comparatively low rents, multinationals continued to expand robustly, especially in Bengaluru. When demand for office space is expected to increase in 2020, we expect the trend to continue for these markets.

In the first half of 2019, the IT industry accounted for 35% of the total volume of transactions across the top eight cities, most evident in Bengaluru, which recorded a 14% rental increase in January-June (H1) 2019.

Grade-A office rents across the Asia-Pacific region are expected to fall by as much as 3 per cent in 2020, compared to a 0.6 per cent increase in the first nine months of 2019, as occupier demand continues to weaken.

Bengaluru’s central business district (CBD) was the best-performing Asia Pacific sector in July-September (Q3) 2019 with 17.6 per cent rental growth, the report said.

Connaught Place’s CBDs in NCR and Bandra Kurla Complex in Mumbai were the 7th and 11th fastest-growing prime office markets in the Asia-Pacific region, with 4.4% and 2% year-on-year rental growth respectively, it said in Q3 2019.

Myrsa is an online platform where you can find commercial spaces for rent on a temporary basis.

December 26, 2019 0