Category: Legal Branding

Legal Branding

Professionals Discuss How Is Airbnb Affecting The Real Estate Industry

According to Inc., the vacation rental market will be worth roughly $170 billion in the next two years. As for Airbnb, Fortune projects that the community marketplace will go up in 2020 to $3.5 billion. Still, Airbnb has made tremendous growth this year; Fortune further indicates that Airbnb spent $300 million on expansion efforts. While this could be seen as a positive sign for a booming real estate economy, some say Airbnb could reel in suspicious individuals and activity.

Nonetheless, this could be a key investment opportunity for individuals looking into breaking into the industry—as well as for landlords looking to up their game. With Airbnb’s expansion, landlords may have to turn to the third-party housing rental company to bring in more cash flow.

With Airbnb expanding across the real estate market, it is looking like the monopoly could push out their smaller competition or force them to consider including the third-party community company in their efforts.

Will regulations stop them from expanding? According to Inc., it is not looking like it. The company continues to grow despite regulations—such as, as Inc. reports, rental companies needing to register with San Francisco (should they want to provide rental services to customers).    

Not sure if Airbnb’s efforts are great for the real estate industry? Can’t make a decision? Are you considering on cashing in on Airbnb’s expansion efforts? In this article, you’ll learn 6 different opinions from real estate professionals (spoiler: be prepared to be surprised by how diverse they are). From reading this, we hope you gain a better perspective on how Airbnb’s future expansion will affect the real estate industry, and whether this is seen as a welcoming sign or a future pain in the neck.

Read on to learn what real estate professionals are saying about Airbnb’s expansion impact.

www.appfolio.com

“AirBnB is definitely growing in the industry as tenants try to make additional money on the side. That said, large MFRs are cracking down on this as they find it disrupts the resident’s experience at the property and leads to higher turnover of units. Virtually across the board this type of sub-leasing violates the signed lease. I anticipate Airbnb continuing to struggle to gain traction in the MFR space.” – Nat Kunes, VP of Product

www.authoritypm.com

“We own and operate a property management company in Redding, CA that offers long-term rentals but stays out of short-term rentals such as Airbnb. We have seen a huge spike with regards to people looking to have a single family home rented out under Airbnb and managed by a third party such as a property manager. In our community, we don’t have any third party companies that handle management of Airbnbs, leaving property owners to handle them on their own. Vacation rentals require much more energy to manage than a traditional rental. In recent times, we have experienced several property owners converting AirBnB rentals to traditional rentals. Many have expressed frustration due to the much smaller cash flow on a traditional rental vs. Airbnb. We believe the Real Estate market has had additional players picking up investment properties as vacation rentals that may not have jumped in the game otherwise.” – Aaron Robertson, Authority Property Management

www.rpmservice.ca

“Recently, the Ontario marketplace has seen a lot of changes around the laws and these sort of disruptive technologies like Airbnb. People are taking residential suites and making them something they are not setup for and this causes a lot of problems for neighbours, property managers and the facilities, while offering no protection for these parties. Some of the municipalities are setting up rules and regulations, however, enforcement will be a very difficult course— how long till the next UBER comes along.” – Jason McGuire, Owner at Real Property Management Service

www.barrettpm.com

“I think this question must be answered with a specific community/county in mind due to the dramatic differences Airbnb could have on certain areas. Some factors that play into whether Airbnbs affect a community can include: Is tourism big in the community? Are there vacation destinations in the community? Does the community have recurring annual events that attract a large crowd? And does the city/county government allow for Airbnbs? The more “yes” answers to these factors, the more Airbnb will affect the real estate industry in that community.” – Amelia Barrett,President at Barrett Property Management, Inc.

www.sparkrental.com

“In larger cities and destinations with heavy tourist traffic, some homes can earn significantly higher returns on Airbnb than through long-term leasing. That’s good news for landlords (and some entrepreneurial tenants), but it can mean even stiffer competition for limited long-term rental housing.

One problem is that the areas with perfect conditions for Airbnb leasing are also usually those with already-tight rental markets. These tend to be the most desirable urban neighborhoods, with the most competition for housing supply. Airbnb rentals pull more inventory from that supply, constricting supply even more.

With that said, the market will fix this problem over time. For example, some not-as-well-managed hotels will likely go under due to the loss of business to Airbnb, and that space will likely be converted into additional residential housing supply. Or consider the retail apocalypse – this is more valuable real estate that can be rezoned to its highest and best use (in many cases, residential). It may also push lumbering city bureaucracies to approve more new housing permits to increase supply.” – G. Brian Davis, Director of Education

www.skypropertiesinc.com

“As a management company, we are both for it and against it.. For it, because our clients make money doing it. Against it, because it may bring unknown people who could cause a noise disturbance, have criminal intent, or even be a criminal, into an unsuspecting apartment community.” – Kari Negri, Chief Executive Officer at SKY Properties, Inc

www.trepryor.com

“The effect that Airbnb has had upon Louisville real estate has been much larger than many would guess. Rental rates are already high, relative to buying, so those taking advantage of this platform are benefiting greatly. Plus, their website is very easy to use. It’s a very attractive option for those looking to generate some additional income. I expect Airbnb usage grow here in Louisville, Kentucky.” – Tre Pryor, Realtor, Editor in Chief

Legal Branding

Bail Bonds – The Way to Get Out of Jail after an Arrest

A person can be arrested for any unlawful act that may range from mild to severe. Once a person finds himself in custody, his first endeavor is to get himself out of jail. It can be achieved through a bail. The bail can be in the form of cash, bond or even property which the defendant gives to the court as a punishment as well as a security deposit for his freedom. If the terms and conditions of the bail bond are not adhered to, it may be revoked and the defendant can be arrested again.

How is a bail set?

The court sets a bail bond on the basis of the severity of the crime. As defendants often want to get the bail as fast as possible, most courts have some standard bail set for common crimes. The accused person can pay the specified amount and get released from jail. If the payment is beyond the affordability of the defendant, he can appeal for a lower bail amount, but it needs to be approved by a special court hearing in the presence of the suspect. It is referred to as the arraignment. The defendant himself can place the request for bail or somebody else, i.e., a bail bond company can also get the wheels moving on his behalf.

Requirements for bail

Certain conditions must be fulfilled when submitted legal documents so that the bail can be approved and granted. They are –

  • Bail bonds premium

If the bail bond company similar to Breaking Bad Bail Bonds  or Post Bail By Phone is posting a request for bail on the defendant’s behalf, then the defendant would first need to pay the company a premium and become the indemnitor. The premium is the amount that the company charges for its services as well as the financial risk that it undertakes on behalf of the defendant. The premium amount can be paid in cash or through any credit card or any other financial instrument.

  • Documents

The most important document that needs to be provided is the Authority Bail Bond. It must have the defendant’s current address, driver’s license number, social security number and all legal identifications that the court asks for. The bare minimum requirement is about fourteen legal documents that must be furnished after filling them up and signing them.

Apart from this, the defendant also needs to provide additional information to the bail bond company. It includes names of minimum four family members, work address, three authentic references, etc. It is because if the defendant fails to appear in court due to any reason, the bail bond company would need to pay a handsome amount to the court.

  • Collateral and good credit

Sometimes the defendant has a poor credit score or is jobless. Along with this, several other factors are also present which makes it evident that he may not be able to pay off the debt or bail amount. In that case, collateral is required that is usually about 10 percent of the bail amount. It can be in cash, property or any other kind. However, if the indemnitor has a good credit score, then the bail amount till $10,000 does not require any collateral.

Legal Branding

How Do Bail Bonds Work?

You might have heard about the term bail but do not really know what it means. We might have heard about people being released on a certain amount of bail and that this individual is supposed to be back in court after a given amount of time. If you know nothing about how bails work, you might ask yourself why someone needs to go to court again after they have been released from jail on bond. To understand better, here is more information on bail bonds.

When an individual is arrested on suspicion of committing a crime, they are taken to jail where they are booked. The booking process includes taking a mug shot, fingerprinting and writing a statement. After this, the individual will be held in jail as the investigation is underway until their court date. A bail can also be set and the individual can be released after they pay the amount.

A bail is, therefore, a type of financial arrangement that will be made on behalf of the criminal (defendant) by the bail bonding agency. The bail bonding process will include the agency arranging with the court the amount of bail to be set. This amount may be in form of cash or an asset after the court provides the monetary value of the bail. Basically, a bond is an assurance that the full amount of the bail will be paid. Some courts will require the full amount to be paid beforehand while some will accept a 10% down payment before releasing the defendant.

After the defendant has been released from jail, it is now the responsibility of the bail bonding agency to ensure that the suspect attends the court hearing on the set date. In the event that the person does not appear in court, a bounty hunter is hired to hunt down the suspect. In as much as many countries throughout the world have outlawed bounty hunting, it is still legal in the United States.

How Bonds Work

A bail bondsman often works with a bail bonding agency like Utah Bail Bonds. The bondsman puts up the fee for the release of a suspect. He then charges a non-refundable 10% of this amount and it is what he will retain even after the case is thrown out before it is taken to court.

The bondsman will then take out security against the assets of the suspect that can be liquidated if need be so that he can cover the costs of the bail. In case the suspect does not have any assets, the bondsman can use the assets of willing friends and relatives as security.

Apart from hunting down the suspect when he skips court, the bail bonding agency can sue the person for the money that was paid to the courts for his release. Any unpaid money by the defendant can be recovered by claiming assets that were used a security. Assets of friends and relatives that signed the contract to assist the defendant financially can also be claimed to recover money owed.

Legal Branding

Why It’s Important to Buy into Complete Auto Insurance, and How It Pays Off

Ask any car accident attorney and he’ll tell you that a full coverage auto-insurance is something you should have. Aside from protecting you from all sorts of accident, there are also several benefits that you can enjoy. Indeed, a full coverage auto-insurance pays off in the long run, and here’s why.

1. It Protects Your Assets
The good thing about a full coverage auto insurance is that it’s not only limited to your vehicle, but it also protects your home, investments, and bank accounts in case you have been seriously injured. With a minimum coverage, there’s a great risk that you’ll be losing everything you have worked for just because of an accident. On the other hand, the right amount of liability coverage on your auto insurance policy means your medical bills and damages would be shouldered.

2. Peace of Mind
With a full auto insurance coverage, you’ll have the peace of mind that nothing bad would happen to you after a car accident. Everything is well protected, and you’ll have the assurance that you’ll be able to take care of your family in the future even if you have become seriously injured.

3. It Shoulders Repairs due to Collisions
One of the most confusing things in auto-insurance coverage is the “collision damaged because of a collision, the auto insurance company won’t shoulder the cost of repair. In rural areas, deer strikes happen often, and a full auto-insurance coverage is the most practical route instead of getting another insurance policy for collision coverage. A company that provides incredible auto repair in Spokane, Washington is Tunetech. An excellent company to bring your repairs to.

4. It Pays Weather Damage
Weather damages are unpredictable. You’ll never know when a golf ball-sized hail would hit your car and leave dents all over it. A full auto insurance coverage will come in very handy in situations like this. It will pay to cover the costs of repairs for scenarios like this. That means you’ll have the peace of mind that your car is secure even during bad weather.

5. Car Rental Services Are Also Available
A lot of insurance companies offer a complementary rental car if it’ll take more than 24 hours to have your car fixed. That’s if you have a full auto insurance coverage. This can be very beneficial, especially if you must go to work or drive your kids to school. There’s no need to pay out of your pocket for transportation while waiting for your car to get fixed. If you only have liability insurance, you won’t be able to enjoy this privilege as you’ll be required to pay a certain fee.

6. Benefits Up Front
Most insurance companies with full coverage policy pay up front for the repairs that should be done. They usually send the payment directly to the repair shop and you don’t have to worry about anything at all.

Overall, having a full auto insurance coverage is the most responsible decision you’ll ever make. A lot of people only carry the minimum coverage, and so, once they get involved in an accident, not only are they suffering physically but financially as well.

Law books
Legal Branding

Choosing The Right Colors For Your Law Firm Site

Chances are, when designing your law firm’s website, the colors of the site were not considered as a major factor.  Sure, you wanted something clean, professional, and polished, but that was probably the most you thought of it.  It is a scientific fact that people perceive feelings and attitudes about a place of business based on the colors presented to them. Colors carry powerful meanings and those messages are part of your brand. Take the website of Levinson Law Group, for example. This website features blue, gray, and a bit of gold. What do these colors say about the company?

What Does Color Mean?

Levinson Law Group’s logo features three words; “Strong, Compassionate, Reliable” This is part of their brand and company image. The primary colors of their site, back up their image.  Let’s look at what the colors mean:

  • Blue
    • Trust
    • Smart
    • Power
    • Stability
  • Gray
    • Security
    • Reliability
    • Solid
    • Intelligent
  • Gold
    • Of value
    • wealth

As you can see, the colors this company chose are perfect to answer the unspoken question, “Why hire us?”

Subtleties of Colors Add Meaning

Another site,Victims Lawyer.com features the same colors. The difference is subtle. Victims Lawyers.com feature more gray in the overall layout of the site. This means to the consumer, they are stressing the idea that the customer is secure with them. It is the same message presented in a different way to brand their company. While these legal professionals deal with many types of clients, they are award winning personal injury attorneys.  A client who has been hurt at the hands of, or due to the negligence of another person, is already at a disadvantage. If that company refuses to deal with them fairly (forcing them to hire an attorney) they have reason to be insecure. The attorney they hire will make them feel safe and secure. That begins with the mental image their brand presents.

Steven Sweat logos

A third example is Syndicate Legal. The blue and gray scheme of this site are almost blended. This give the message that they are equally dedicated to obtaining your trust and representing your case. They do not favor blue over gray because they are equally important. However, you will notice a little green in the main page of this site. It is an understated detail that speaks volumes. Green represents money and growth. A client looking for an attorney to seek damages for him, may think he will recover more if he uses this attorney, simply because their mind reacts well to the splash of green on the site.

Woodland HIlls

Common Colors For Legal Websites

It is easy to understand why the understated colors of blue and gray work well with legal websites. But as in the above examples, an accent color drives your point home.  Just as using green works to represent money and gold suggest value and wealth, using other colors allow the law office to mold their brand to their specific target audience.

Red is an accent color you will find on most sites.  Red means power, strength, energy, and passion.  A criminal defence attorney may accent more heavily in red. This is a statement that they are willing to fight.

Yellow is the color of happiness, This is a good accent color for legal professionals in family law, for example.  Often you will see the color orange. Orange is an equal combination of red (power) and yellow (happiness). This is for the law offices that stress finding a solution that works for everyone.

Every industry uses the science of color technology.  From hospitals, to schools and prisons, the colors serve a specific purpose. Law offices are no exception. The colors used will an impact on your business. So choose wisely and let your website work for you.