volume four issue nine
GUIDE TO
REAL ESTATE
inRhode Island
F E A T U R E D : 2 0 1 5 O C E A N S T A T E B www.risbj.com U S I N| volume E SfourS issueEnineX P1 O
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from the founder MAKE YOUR MOVE
How many times have you made the statement, “The next time I move will be my last?” I’m sure most of us have been heard saying that at some point. While moving from the place we live and call home isn’t always the most pleasurable experience, sometimes it’s necessary. The same holds true when it comes to our office space. We recently made our second office move since last Summer and both times it was for different reasons. So what factors typically make a business consider moving? Space Requirements This is the most common reason why companies move. As we look to grow our business, we might consider a larger office space. It’s important to have space for additional staff. It’s also important to assess other requirements for space such as the need for a conference room, a training room or even a small kitchen area. While some companies look for more space to grow, others are looking to downsize. Whether it be from a need for less staff, or a change in business model, opting for less space can be a cost saving measure. Rising Costs In some cases, our move could be a financial decision. While our space might be adequate, we could see an increase in rents, making it cost prohibitive. We also need to assess our utilities and see how that effects our bottom line. Years ago
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RISBJ | rhode island small business journal
we had an office that was not well insulated, and our heating bills during the winter months were staggering. Another issue some companies have is the cost of paid monthly parking, which can get costly as we grow. Factors like this make the decision to relocate a great financial move. Location Another common reason for moving is location. Being close to potential or current clients can help us to secure more business and service existing clients better. Some companies also look to move to be closer to talent and transportation. Being downtown Providence or in Quonset near a train station might help us to attract talent from outside of the area, while being in a Pawtucket mill might help with recruiting artistic and creative talent. Regardless of the reason for your move, always be sure to weigh these factors into your decision. Also make sure that the move is a seamless one for your employees. Have their desks, phones computers and anything else they need to do their job ready to go. Once you move, you want everyone ready to hit the ground running!
Gil Lantini Founder Ralph Coppolino Co-Founder Mike Casale Senior Designer Amanda Repose Managing Editor Marketing Julia Cianciolo Courtney Kresge Lauren Bansbach Interns Kassandra Petrocelli Andy Guerrino Kelly Sobolewski Trumane Trotman Contributing Writers Jeremy Bargiel Michael Brito John V. Carvalho III Daniel Giroux Secretary of State Nellie M. Gorbea Rob Levine General Treasurer Seth Magaziner Matthew R. Plain Esq. Jeffery W. Ray Esq. Denis Robichaud Kristen M. Whittle Esq.
Setting Up Your Business For Success Your one-stop moving and installation specialist Whether moving to a new office or reorganizing an existing workspace, Gentry Moving has the expertise to keep your business running smoothly – with little to no down time. Our team will: • Break down cubicles and furniture • Professionally pack and unpack office items • Safely deliver and reassemble furniture quickly • Manage the delivery of new work stations or furniture
Call today for a stress-free moving experience.
401.233.2786 www.facebook.com/risbj twitter.com/risbj 401 831 7779 info@risbj.com www.risbj.com ©MMXIII Rhode Island Small Business Journal
info@GentryMoving.com • GentryMoving.com www.risbj.com | volume four issue nine
5
Upcoming Events Networking & Workshops
North Kingstown Chamber of Commerce 10:00am 8045 Post Rd., North Kingstown
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North Kingstown Chamber of Commerce 10:00am 8045 Post Rd., North Kingstown
Leading Edge Networking
SEPT 30
Greenwich Farms 7:00am 75 Minnesota Ave., Warwick
Capital City Connection Networking Corner Bakery Cafe 8:00am 140 Hillside Rd., Cranston
The Fourth Tier Network Lunch Crowne Plaza 11:30am 800 Greenwich Ave., Warwick
Business Consulting: Fridays at the NK Chamber
North Kingstown Chamber of Commerce 10:00am 8045 Post Rd., North Kingstown
Business Consulting: Tuesdays at the NK Chamber
North Kingstown Chamber of Commerce 10:00am 8045 Post Rd., North Kingstown
Leading Edge Networking Greenwich Farms 7:00am 75 Minnesota Ave., Warwick
Capital City Connection Networking Corner Bakery Cafe 8:00am 140 Hillside Rd., Cranston
Business Networking - Referral Pros Chelo’s Restaurant 12:00pm 1275 Reservoir Ave., Cranston
Chelo’s Restaurant 12:00pm 1275 Reservoir Ave., Cranston
OCT 6
SEPT 23
Business Consulting: Fridays at the NK Chamber
Business Networking - Referral Pros
For More Events Visit www.risbj.com
The Fourth Tier Network Lunch
Crowne Plaza 11:30am 800 Greenwich Ave., Warwick
OCT 7
SEPT 22
Business Consulting: Tuesdays at the NK Chamber
Corner Bakery Cafe 8:00am 140 Hillside Rd., Cranston
OCT 8
Newport County Chamber of Commerce 8:30am 35 Valley Rd., Middletown
Capital City Connection Networking
OCT 14
Seminar: Social Media
Greenwich Farms 7:00am 75 Minnesota Ave., Warwick
OCT 15
North Kingstown Chamber of Commerce 10:00am 8045 Post Rd., North Kingstown
SEPT 24
SEPT 18
Business Consulting: Fridays at the NK Chamber
SEPT 29
SEPT 17
Crowne Plaza 11:30am 800 Greenwich Ave., Warwick
OCT 2
Leading Edge Networking
The Fourth Tier Network Lunch
Rhode Island’s Business Expo
Crowne Plaza Hotel 12:00pm 800 Greenwich Ave., Warwick
Capital City Connection Networking Corner Bakery Cafe 8:00am 140 Hillside Rd., Cranston
The Fourth Tier Network Lunch Crowne Plaza 11:30am 800 Greenwich Ave., Warwick
contents
volume four issue nine
INSIDE THIS ISSUE
6 Upcoming Events
14
11 Small Business News 14 A Message from the General Treasurer 15 Secretary of State Nellie M. Gorbea 17 Rhode Island Real Estate 19 State Tax Rates 20 Six-Month Housing Statistics 2015 21 Real Estate News 23 Real Estate Talk with Mike Giuttari 26 Testing For EMF 28 Kick it Up a Notch
15
22
30 Dissecting the Caveats 32 MBE/DBE Investing in Real Estate 35 Are You Up to Speed 36 Easy Steps for Buying a New Home 38 Technology Tips for the Real Estate Professional
36
ON THE COVER volume four issue nine
40 Personnel Practices: Social Media
GUIDE TO
REAL ESTATE
inRhode Island
Featured Guide To Real Estate in Rhode Island
42 Documenting Workplace Safety Incidents 46 Ocean State Business Expo
2015 Ocean State Business Expo
50 College Prep: Gas Detection FEATURED: 2015 OCEAN STATE BUSINESS EXPO
42 www.risbj.com | volume four issue nine
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With Neighborhood, there’s nothing small about your business.
The New, Affordable Choice for Small Employers 8
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1-855-321-9244 • nhpri.org •
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SMALL BUSINESS
NEWS
Pannone Lopes Devereaux and West Attorneys
Selected to The Best Lawyers in America 2016 Several Partners at Pannone Lopes Devereaux & West LLC (PLDW) were recently selected by their peers for inclusion in The Best Lawyers in America® 2016, in multiple disciplines. Best Lawyers in America® is the oldest and most respected peer-review publication in the legal profession. “We are honored to be recognized by our colleagues in our profession with this year’s selection,” said Gary R. Pannone, Managing Partner at PLDW. “We are very proud of our entire team of lawyers and staff. This honor reflects their dedication, hard work and commitment to serving our clients.” The PLDW Partners and their practice areas for which they were selected include:
William P. Devereaux was recognized in the practice areas of Criminal Defense, including White-Collar and Non-WhiteCollar.
Matthew A. Lopes Jr. was selected for his practice in Government Relations and Mediation.
William E. O’Gara was recognized for his practice in the areas of Employee Benefits (ERISA) Law, Employment Law – Management, Labor Law – Management, Litigation – Labor and Employment, and Workers’ Compensation Law – Employers.
Gary R. Pannone was selected for his practice areas of Administrative/ Regulatory Law, Corporate Compliance Law, Corporate Governance Law, Corporate Law, Health Care Law, Mergers and Acquisitions Law, Nonprofit/ Charities Law and Securities/Capital Markets Law.
Teno A. West was selected for his practice in Government Relations in the areas of Energy, Environmental, Land
Use, Municipal, Municipal Infrastructure, Public Utility and Water.
About Pannone Lopes Devereaux & West LLC
Since its inception in 1983, Best Lawyers has become universally regarded as the definitive guide to legal excellence. Lawyers are not required or allowed to pay a fee to be listed and inclusion in Best Lawyers is considered a singular honor. Lawyers listed in Best Lawyers have no say in deciding which practice areas they are included in. They are voted into practice areas entirely as a result of the votes they receive from their peers. The subspecialties listed after the attorneys names are based on information from a variety of sources.
The attorneys and staff at Pannone Lopes Devereaux & West LLC (PLDW) are committed to developing practical and cost-effective solutions while also being supportive of the community in a meaningful way. PLDW has developed a business model that combines international expertise with a more cost-effective delivery system that involves cross training of lawyers and a more practical approach to problem solving. The primary areas of practice for the firm include administrative, corporate and municipal law, civil litigation, employment, government relations, real estate and commercial lending and estate planning and special masterships. The partners demand of themselves and those on the PLDW team an unparalleled sense of urgency and responsiveness which is derived from an authentic appreciation of their clients and the communities in which they serve. For more information, visit www.pldw.com.
For more information about PLDW, contact David C. Sweet, Chief Operations Officer, at 401-824-5100 or dsweet@pldw. com, and visit www.pldw.com visit www. pldw.com.
www.risbj.com | volume four issue nine
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SMALL BUSINESS
NEWS
SBA Announces Funding to Boost Expo T h r o u g h S T E P G r a n t To J o h n H . C h a f
The U.S. Small Business Administration (SBA) today announced that small businesses owners across the country will have access to $17.4 million in funding to help them enter and compete in the global marketplace. Forty awards from the agency’s State Trade and Export Promotion (STEP) program will be made to states and territories to support activities to increase exporting by small businesses. In Rhode Island, the John H. Chaffee Center for International Business at Bryant University will receive a $373,000 grant. “I commend the Chafee Center for providing comprehensive international trade services to help local businesses expand into international markets. This federal funding is a smart investment in growing jobs and exports here in Rhode Island and helping local businesses expand into foreign markets,” said Reed, a member of the Appropriations Committee, who helped create the STEP program as part of the Small Business Jobs Act of 2010. SBA Regional Administrator Seth Goodall was joined by Rhode Island small business owners Cheryl Zimmerman, President and CEO of Farsounder and Thomas Tanury, President of Tanury Industries, both who have benefited from prior STEP program funds. “Exports are a central part of America’s economic growth; with export-supported jobs paying 15-18% more. Yet less than one percent of small businesses export; and of those that do, 58 percent of them export to only one country. Unlocking trade opportunities for small businesses as has been done by many Rhode Island small businesses is key to continued growth and expansion,
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said Seth Goodall, SBA New England Regional Administrator. The purpose of the 2015 awards is for states to assist small businesses with export related activities or other export initiatives that are in line with the objectives of the program. These objectives include participation in foreign trade missions, foreign market sales trips, subscription services provided by the U.S. Department of Commerce, as well as design of international marketing campaigns, export trade show exhibits, training workshops and more. “We are grateful for the continued support from the SBA, which allows Bryant Faculty, students and the staff at the Chafee Center for International Business to work with Rhode Island companies to expand their global footprint through trade missions and export promotion. This is just one example of this universities contribution to economic development efforts,” said Ronald K. Machtley, Bryant University President. SBA’s STEP program ensures local resources are available to help small businesses tap global markets. By funding states and their export development partners, the SBA is delivering the tools and resources required for small businesses to launch their services and products abroad. With 95% of the world’s consumers living outside of the United States, SBA’s STEP program ensures that America’s small businesses can succeed in the 21st century global economy. “This funding will provide Rhode Island small businesses with the tools they need to compete in today’s global economy,”
SMALL BUSINESS
NEWS
ort Opportunities for Small Businesses ee Center For International Business said Senator Sheldon Whitehouse. “I congratulate the state and the Chafee Center for International Business at Bryant University on receiving this award, and I look forward to seeing how our innovative Rhode Island entrepreneurs put the funding to use.” “Bryant University is an exceptional business school with a reputation for fostering talent and supporting young entrepreneurs. This STEP program award will further enhance Bryant’s business programming and empower its small business partners to expand their reach in the international market,” said Congressman Jim Langevin. “Congratulations to the John H. Chafee Center for International Business on this exciting announcement. I look forward to seeing how these funds will be leveraged to elevate Rhode Island business and spur economic growth both at home and abroad.” The STEP program is designed to increase both the number of small businesses that begin to export and the value of exports for small businesses currently exporting. Expanding the base of small business exporters and making the process as easy as possible is a key component of the Administration’s National Export Initiative. Lt. Governor Daniel McKee representing Governor Gina Raimondo said, “Small businesses are the backbone of the Rhode Island economy, and we must support their efforts to grow and innovate in every way we can.” McKee, who is co-chair of the Small Business Advocacy
Council continued, “This funding to support the STEP program at the Chafee Center will ensure the continuation of critical assistance to our small businesses as they seek to expand exports in an increasingly global economy.” Sen. Erin P. Lynch (D-Warwick), representing Senate President Teresa Paiva-Weed said, “This grant is an investment in Rhode Island businesses, who can utilize the expertise of the Chafee Center to create trade opportunities and expand their global reach. The Chafee Center provides effective guidance and assistance for companies looking to enter or expand in the international market. This unique partnership is a tremendous resource for Rhode Island companies.” The STEP program is designed to increase both the number of small businesses that begin to export and the value of exports for small businesses currently exporting. Expanding the base of small business exporters and making the process as easy as possible is a key component of the Administration’s National Export Initiative. Recipients in the first two rounds of STEP awards, in FY 2011 and FY 2012, reported a strong return on investment of over 19:1. This grant is $73k high than the prior grant to the Chafee Center. For additional information on the STEP program and the FY 2015 awardees, visit https://www.sba.gov/offices/ headquarters/oit/resources/14315, or contact Mark S. Hayward, SBA Rhode Island district director at 401-523-4037 or Mark.Hayward@sba.gov.
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GENERAL TREASURER | Seth Magaziner
A message from Rhode Island General Treasurer Seth Magaziner
CollegeBound Savings Month by General Treasurer Seth Magaziner
September marks the end of summer and the beginning of a new school year for children and families across Rhode Island. For those of us who work in the Rhode Island Treasury, September holds additional significance as National College Savings Month. Our office has the privilege of administering the CollegeBoundfund, Rhode Island’s 529 college savings program. I want to take this opportunity to tell you about the program, and some of the benefits of starting early to save for college. Families should begin planning for their child’s higher education as early as possible. The cost of college can be significant, and any amount that a family saves in advance can reduce their reliance on expensive student loans. In addition to the financial benefits of saving for higher education, there can be psychological benefits as well. Research shows that children with college savings accounts, even those accounts that are relatively small, are three times more likely to attend college and four times more likely to graduate than children without them. Opening an account
Research shows that children with college savings accounts, even those accounts that are relatively small, are three times more likely to attend college 14
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communicates the importance of pursuing higher education to children from a young age, and makes attending college feel like an attainable and worthy goal.
For these reasons and more we make it our goal here in the Rhode Island Treasury to encourage a culture of saving early for college. The Rhode Island Treasury’s CollegeBoundfund is an education savings plan designed to help families save for college. Families and friends can contribute to a child’s CollegeBoundfund account starting from birth, and the funds can be invested tax-free and spent on higher education expenses such as tuition, fees, and room and board. Rhode Islanders can also deduct contributions to CollegeBoundfund accounts from their state income taxes, up to $500 in annual contributions for single filers and up to $1,000 for joint filers. This past January we launched another way to encourage families to save for college through the CollegeBoundBaby program. Under CollegeBoundBaby, children born in Rhode Island or children who are adopted receive a grant of $100. Parents of newborns can sign up for the $100 grant by checking off a box on the hospital form they use to obtain a birth certificate. Our hope is that this new program will dramatically increase the number of Rhode Island families who begin saving for their children’s future from day one. Families can enroll in a CollegeBoundfund savings account either by enrolling on the website, speaking with a financial advisor or by calling the Rhode Island Treasury at (401) 736-1141. In honor of College Savings Month we are offering a $25 match to the first 529 Rhode Island families to open a CollegeBoundfund account in September. The education and well-being of our youth is the greatest investment any of us can make.
Nellie M. Gorbea | SECRETARY OF STATE
Upgrading Democracy’s Infrastructure by Secretary Of State Nellie M. Gorbea
Last month, Governor Gina Raimondo signed into law legislation authorizing the Secretary of State to lead efforts to acquire new voting equipment. Our voting equipment is democracy’s infrastructure. Voters, election administrators and candidates alike depend on modern and reliable voting equipment to deliver fair, fast and accurate elections. Our current voting equipment is nearly twenty years old and quickly becoming obsolete. Furthermore, today’s available technology makes voting more secure and convenient than ever. It also helps municipalities save taxpayer dollars by streamlining processes. To ensure that Rhode Islanders have the best, most costeffective equipment it was important to involve a diverse group of stakeholders in the process. That’s why I convened a Voting Equipment Task Force which met on four occasions to help inform our procurement process. Many of the task force’s recommendations were included in our Request for Proposals
Our current voting equipment is nearly twenty years old and quickly becoming obsolete.
(RFP), which the RI Department of Administration will be releasing soon.
Thanks to the leadership of the General Assembly and the Governor, we now have a unique opportunity to modernize our democratic infrastructure and replace some of the oldest working voting equipment in the country with the latest available technology. I am proud to be leading this effort to upgrade democracy’s infrastructure and, ultimately, get more Rhode Islanders to participate and vote. Task force members include: Bob Cooper, Executive
Secretary, Governor’s Commission on Disabilities; Bob Rapoza, Director of Elections, RI Board of Elections; Brandon Bell, Chairman, RI Republican Party; Channavy Chhay, Executive Director, Center for Southeast Asians; Dale Holberton, Town Clerk, Town of South Kingstown; Drew Milligan, Member, Millennial Professionals of RI; Jane Koster, President, League of Women Voters of RI; Janet Ruggiero, Member, US Elections Assistance Commission Standards Board and Assistant Clerk, North Providence Board of Canvassers; John Marion, Executive Director, Common Cause RI; José Batista, President, RI Latino Civic Fund; Joseph McNamara, Chairman, RI Democratic Party; Kathleen Connell, Executive Director, AARP RI; Kenneth McGill, Registrar, City of Pawtucket; Louise Phaneuf, Town Clerk, Town of Burrillville; Pilar McCloud, Executive Committee Member, NAACP Providence; Renay Brooks Omisore, Commissioner, Providence Board of Canvassers; Richard O’Neill, Clerk, City of Newport Canvassing Authority; Steven Sepe, Registrar, City of Cranston; Travis Escobar, President, Millennial Professionals of RI; and William Gilbert, Chairman, Moderate Party of RI.
www.risbj.com | volume four issue nine
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RISBJ | rhode island small business journal
63 Federal Road Barrington, RI 02806 401.246.1230
Rhode Island Real Estate | SMALL BUSINESS
Rhode IslandReal Estate
Commercial • Residential • Investment
1,154
$
The average cost of a two-bedroom apartment rental in Rhode Island, According to the 2014 Housing Fact Book by HousingWorks RI
Average Price
per square foot for Newport, RI was $295, an increase of 2.8% compared to the same period last year.
According the NAR Research the total economic impact of a typical home sale in RI is
$211,200
The number of distressed single-family house sales in Rhode Island fell by
19%
$215,000 The median house price in Rhode Island for 2014 as a whole,
the highest in six years
between 2013 and 2014
Average price per square foot for Providence, RI was $165, an
increase of 1.9% compared to the same period last year
www.risbj.com | volume four issue nine
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Rhode Island State Tax Rates Municipalty
Residentiial Tax Rate
% Full Value
Revaluation Year
Commercial RE Tax Rate
Business Personal Property Tax Rate
Barrington Block Island Bristol Burrillville Central Falls Charlestown Coventry Cranston Cumberland East Greenwich East Providence East Side of Prov Exeter Foster Glocester Hopkinton Jamestown Johnston Lincoln Little Compton Middletown Narragansett Newport North Kingstown North Providence North Smithfield Pawtucket Portsmouth Providence Richmond Scituate Smithfield South Kingstown Tiverton Warren Warwick West Greenwich West Warwick Westerly Woonsocket
$18.30 $5.34 $13.06 $18.88 $27.26 $9.90 $20.40 $22.84 $15.78 $23.26 $22.95 $19.25 $14.63 $21.06 $21.77 $20.64 $8.75 $28.75 $23.57 $5.64 $16.07 $10.04 $12.06 $18.91 $27.94 $16.02 $23.06 $15.08 $19.25 $20.94 $18.98 $17.13 $15.48 $19.30 $20.07 $20.06 $22.55 $25.39 $10.64 $35.94
100% 80% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100% 100%
2011 2012 2010 2012 2012 2010 2010 2011 2010 2011 2012 2012 2011 2011 2010 2010 2009 2012 2012 2006 2008 2011 2011 2009 2007 2009 2008 2013 2012 2013 2012 2009 2012 2011 2009 2009 2013 2012 2009 2008
$18.30 $5.34 $13.06 $18.88 $39.48 $9.90 $24.58 $34.26 $15.78 $23.26 $25.40 $36.75 $14.63 $21.06 $24.74 $20.64 $8.75 $28.75 $26.94 $5.64 $21.34 $15.06 $16.72 $18.91 $34.68 $17.77 $30.88 $15.08 $36.75 $20.94 $21.94 $17.13 $15.48 $19.30 $20.07 $30.09 $22.55 $Varies $10.64 $39.99
$18.30 $5.34 $13.06 $18.88 $73.11 $9.90 $20.40 $34.26 $28.86 $23.26 $56.67 $55.80 $14.63 $28.96 $43.34 $20.64 $8.75 $59.22 $37.02 $11.28 $16.07 $15.06 $16.72 $18.91 $69.91 $42.80 $52.09 $15.08 $55.80 $20.64 $40.38 $59.70 $15.48 $19.30 $20.07 $40.12 $33.85 $40.13 $10.64 $46.58
Per $1,000 of Assessed Value • Tax Roll Year 2014 (Assessed 12/31/13) • FY 2015 Source: RI Department of Revenue, Municipal Finance.
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www.risbj.com | volume four issue nine
19
Six-Month Housing Statistics Rhode Island Single Family January - June 2015
First six months of 2015 saw gains among all property types in RI’s housing market Despite a winter with some of the harshest winter weather in recent memory and a delayed start to the spring selling season thanks to those weather conditions, Rhode Island’s housing market showed healthy signs of growth in the first half of this year.
MEDIAN PRICE
$217,500
SINGLE-FAMILY HOMES SOLD
3.6%
4,230
MORE
7.5% MORE
RI RANKINGS REAL ESTATE
635 NUMBER OF
FORECLOSURE/ SHORT SALES DOWN
-15.8% Percent change reflects a year-over year comparison between January - June 2014 and January - June 2015. Information is provided by State-Wide MLS, Inc. A six-month supply of inventory is typically considered to be an indication of a market balanced between seller supply and buyer demand.
For more information: www.riliving.com/pressreleases 20
RISBJ | rhode island small business journal
5
MONTH SUPPLY
INVENTORY AS OF 6/16/15
REAL ESTATE
NEWS
Plan to replace cesspools within one year after closing in 2016 and beyond
Are you planning on putting your home on the market this fall or are you planning to buy a home next year? There’s an important new law that will take effect on January 1, 2016 that will require property owners with cesspools to replace them with a septic system, denitrification system, or other type of onsite wastewater treatment system - or connect to sewer - within one year of the sale of real estate. The legislation requires that an inspection be conducted by a system inspector before the closing occurs. The buyer or the seller must hire a registered inspector to make this determination so plan on addressing this negotiation issue if you sell or buy after December 31st of this year. The law requires the removal of cesspools from nearly all types of uses. Only transfers between current spouses; full siblings; and parents and children are exempt, as well as transfers to a revocable or irrevocable trust where at least one of the designated beneficiaries “is of the first degree of relationship to the grantor.” Compliance costs can range from a low of about $15,000 to as much as $60,000 if a denitrification system or other alternative technology is required. During the sale, the current owner can negotiate with the buyer about who will pay the costs and arrange for the design and construction.
Some, but not all, towns and cities currently offer some form of low interest loan program if needed. It’s important to check with the town or city hall in the municipality in which the property is located because in some areas, private lenders may offer the only options for loans. If the cesspool replacement can’t occur until after the closing, some lenders may allow the closing to take place, depending on the type of loan. Keep in mind however, that if the seller agrees to pay the costs, many lenders are increasingly reluctant to hold funds in escrow to ensure that repairs occur after closing. If the buyer agrees to assume the work, they will need to have the funds available or qualify for an additional loan to pay for the work. In that case, the property has to have enough equity to secure the loan. The buyer should check with his or her lender as soon as possible in the transaction process to determine not only loan availability, but monthly home costs and affordability.
Need more information?
Contact the Rhode Island Department of Environmental Management Wastewater Division at 401-222-6800. Source: RI Association of REALTORS
www.risbj.com | volume four issue nine
21
REAL ESTATE
NEWS
The Randall Family of Companies Named One of 12 Rhode Island Companies on the 2015 Inc. 5000 List of America’s Fastest Growing Private Companies Inc. magazine has ranked The Randall Family of Companies number 3860 on its 34th annual Inc. 5000, an exclusive ranking of the nation’s fastest-growing private companies. The company’s ranking rose by nearly one thousand since first making the list last year, when it ranked number 4846. The list, which represents the most comprehensive look at the most important segment of the economy—America’s independent entrepreneurs, includes 18 businesses from the Providence-Fall River- New Bedford metropolitan area, of which The Randall Family of Companies ranked among the top ten for sales growth from 2012 through 2014 and top four in revenue in 2014. The company was one of only 12 Rhode Island companies in the ranking.
The 2015 Inc. 5000 is ranked according to percentage revenue growth when comparing 2011 to 2014. Revenue for The Randall Family of Companies, which is comprised of Randall, REALTORS in Rhode Island and Connecticut, Kinlin Grover Real Estate on Cape Cod, and Page Taft Real Estate in Connecticut, grew by 78 percent during that time period. The company’s sales volume was more than $1.2 billion in 2014. “We’re thrilled to rank on the Inc. 5000 list for the second year in a row. As a company, we’ve aggressively targeted growth opportunities and this ranking shows the results of our efforts. Our success is owed to the hard work of our agents and the companies who have chosen to merge with us due to a shared philosophy of putting the customer first,” commented Douglas Randall, CEO of The Randall Family of Companies. Complete results of the Inc. 5000, including company profiles and an interactive database that can be sorted by industry, region, and other criteria, can be found at www.inc.com/ inc5000. “The story of this year’s Inc. 5000 is the story of great leadership. In an incredibly competitive business landscape, it takes something extraordinary to take your company to the top,” says Inc. President and Editor-In-Chief Eric Schurenberg. The annual Inc. 5000 event honoring all the companies on the list will be held from October 21 through 23, 2015 in Orlando.
Our success is owed to the hard work of our agents and the companies who have chosen to merge with us due to a shared philosophy of putting the customer first 22
RISBJ | rhode island small business journal
Real Estate
SBA Loans: Turn Here! R.I.
#1 BankNewport 1 SBA 504 Lender in RI 5 years running*
#
BankNewport.com/Business * Ranking based on total number of SBA 504 Loans for fiscal years 2010 - 2014. Source: SBA Rhode Island District Office. Equal Housing Lender | Member FDIC
Quality and Experienced
Property and Construction Project Managers...
Providing Comprehensive Services to Public and Private Sector Clients
Talk With Mike Giuttari SIOR, President MG Commercial Real Estate
MG Commercials business is finding appropriate commercial space for all types of businesses, whether they are buying or leasing. The level of our business is a reasonable indicator of the health of the RI market. Both 2013 and 2014 were excellent years for the company. Although we also cover the southeastern Massachusetts area, that market is very similar to Rhode Island. The industrial market, although not much new construction, remains very active on the sale / acquisition of properties. Both office and retail, although not as active as the industrial sector, have been doing well. Overall, the commercial markets in Rhode Island are as healthy as they have been since pre-2008. Our only drawback is that rental rates remain low for lease space, making it very difficult for speculative construction to occur.
www.abmgroupllc.com www.risbj.com | volume four issue nine
23
REAL ESTATE
NEWS
Housing Momentum Remained O v e r a l l
T h e
H o u s i n g
Governor Gina M. Raimondo today joined with representatives of Rhode Island Housing and Rhode Island College to launch Ocean State Grad Grant, a new program designed to encourage recent college graduates to make their home in Rhode Island. “Rhode Island Housing’s Ocean State Grad Grant program takes an innovative approach to keeping young professionals here in Rhode Island,” said Governor Raimondo. “Sparking a comeback for Rhode Island’s economy is my top priority, and this program is a creative solution to one of the greatest challenges we face: making sure our children have access to opportunities for living and working in Rhode Island.” The Ocean State Grad Grant program, administered by Rhode Island Housing, awards grants for mortgage down payments to recent college graduates. Grants equivalent to 3.5 percent of the home’s purchase price, up to $7,000, are available for qualified recent graduates buying their first home in Rhode Island. “Making housing affordable for the newest members of our workforce is an important part of Rhode Island Housing’s
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RISBJ | rhode island small business journal
M a r k e t
S e e m s
mission to build a bridge to the middle class for more Rhode Islanders,” said Barbara Fields, Executive Director of Rhode Island Housing. “We expect demand for homeownership among Millennials to increase in the coming years. The Ocean State Grad Grant program encourages young professionals to lay down roots in Rhode Island, where they can contribute their talents to the local economy and be active members of our communities.” Rhode Island ranks 42nd of 50 states in percentage growth between 2000 and 2013 in the number of residents aged 25 to 34 with at least a 4-year degree, according to a Rhode Island Housing analysis of U.S. Census data. According to the Joint Center for Housing Studies of Harvard University’s The State of the Nation’s Housing 2015 report, “Although members of the millennial generation are starting to find their footing in the job market and helping to propel rental demand, many of these young adults are saddled with rent burdens and student loan payments that will slow their transition to homeownership.”
REAL ESTATE
NEWS
Making housing affordable for the newest members of our workforce is an important part of Rhode Island Housing’s mission to build a bridge to the middle class for more Rhode Islanders graduated from an accredited institution with an associate, bachelor’s, master’s or doctoral degree within 36 months prior to closing on their mortgage. Graduates may have earned a degree from any institution for higher education recognized by the U.S. Department of Education’s Database of Accredited Postsecondary Institutions and Programs.
d Strong in July T o
B e
I n
F u l l
G e a r
Despite these challenges, Millennials have a strong interest in homeownership. According to a 2015 survey by the Urban Land Institute, 70 percent of Millennials anticipate owning a home by 2020. “Rhode Island College has nearly 40,000 alums who are Rhode Island citizens,” Dr. Nancy Carriuolo, President of Rhode Island College. “However, buying a new home has become increasingly difficult for recent college and university graduates, many of whom are struggling with debt. We salute Governor Raimondo for providing the leadership for this innovative program that will create proud homeowners, increase the numbers of collegeeducated citizens, and contribute to our economy.” Today’s launch event for the Ocean State Grad Grant program was held in front of Alex + Ani Hall at Rhode Island College. The event kicked off a statewide radio and online advertising campaign to help make potential first-time homebuyers aware of the program. The program is open to first-time homebuyers who have recently
“I grew up in Rhode Island, I love living here, and I want our talented recent college graduates to choose to live here as well,” said Travis Escobar, President of the Millennial Professional Group of Rhode Island and a 2013 graduate of Rhode Island College. “As a recent graduate, an Ocean State Grad Grant could help make it possible for myself and many millennials to build a career and start a family here in Rhode Island.” In order to be eligible, the property must be purchased using a Rhode Island Housing-funded first mortgage from a Participating Lender or through the Rhode Island Housing Loan Center. Borrowers may also qualify for an additional grant through Rhode Island Housing to help with closing costs. The Ocean State Grad Grant is designed as a forgivable second mortgage. If the buyer sells their home within the first 5 years after closing on the loan, a portion of the second mortgage would have to be repaid, based on 20 percent per year. Rhode Island Housing has allocated $350,000 for the program. To apply for the program, contact one of Rhode Island Housing’s Participating Lenders or a Rhode Island Housing Mortgage Specialist. Learn more on the program’s website, http://www. gradgrant.org.
About Rhode Island Housing
Together with its partners, Rhode Island Housing works to ensure that all people who live and work in Rhode Island can afford a healthy, attractive home that meets their needs. Rhode Island Housing uses all of its resources to provide low-interest loans, grants, education and assistance to help Rhode Islanders find, rent, buy, build and keep a good home. Created by the General Assembly in 1973, Rhode Island Housing is a privately funded public purpose corporation.
www.risbj.com | volume four issue nine
25
SMALL BUSINESS | Testing For EMF In Real Estate Transactions Is Skyrocketing
Testing for
EMF in Real Estate Transactions is skyrocketing EMF QUALITY SOLUTIONS
A real estate transaction can be exciting but also overwhelming at times with factors such as dealing with the bank, coordinating inspections, planning and expectations, and even sales pressure. Typically, Electromagnetic Field (EMF) Testing has not been part of the inspection process when one does their due diligence, however this has drastically changed in the last few years. Concerns about potential impacts have brought up questions about significant EMF and radio frequency (RF) sources at the property, building or in its proximity. Many indoor environmental and public health research professionals feel that EMF/RF evaluations and measurements should be part of a healthy building inspection. While the scientific community is still divided, many scientists and institutions recommend prudent avoidance as the safest approach. An EMF/RF evaluation at the start of the Real Estate Transactions, before remodeling begins is the best and most cost effective time to implement possible shielding methods. Only trained and experienced professionals with the appropriate and calibrated equipment can determine the exposure in the areas of concerns. AC magnetic fields commonly referred to as EMF, can be hidden and only detected using appropriate EMF testing services protocols and professional equipment. Certain electrical installations and lighting features or wiring areas that are code violations can cause elevated AC magnetic fields. These elevated EMF fields and the possible code violations often go undetected in regular home inspections that solely focus on functionality.
WHY IS IT IMPORTANT?
Our indoor environment has changed dramatically in the past ten years. Many wireless devices are impacting our indoor environment such as cellular antennas, TV and radio broadcasting transmitter, radar, wireless router and access points. Many are added all the time, such as video game systems, wireless printers, baby monitors, security systems, wireless devices and appliances controlled with the latest mobile phone app. This trend will only continue. Do you believe that our recently and dramatically changed indoor environment has no effect on our health and development of our children or performance and well being of employees?
26
RISBJ | rhode island small business journal
Or do you feel that we should be cautious and choose to limit our personal exposure in areas where we spend a lot of time such as sleeping areas, children’s play areas and our work areas. Many organizations and countries outside the US recommend long term exposure limits and precautionary action levels. Why is this so? Are they more sensitive individuals or are we unaware of the potential dangers? At EMF Quality Solutions, we don’t speculate. We assess an area using scientific methods to provide you with the information to make an educated decision and exercise your right to choose what you want to be exposed to in your own home, building or office. We can help create a low EMF and RF environment in your future building or home. The recipe to a successful outcome is following a systematic protocol in assessment, designing the mitigation plan if necessary and verifying the achievement of the design goals. The steps for a low EMF/RF assessment, consultation and possible development of a mitigation plan consist of:
• Assessment of low and high frequency background levels
present on the property
• Assessment of low and high frequency levels present in the
building
• Develop and design of a possible mitigation according to your benchmarks for sensitive areas
• Consult on prudent placement in all sensitive • Design shielding concepts as indicated • Retain a qualified electrician to verify proper electrical installation and grounding system if indicated • Shielding implementation by qualified craftsman • Measurements to confirm compliance to your benchmarks
• Certification of the site or building
If you would like us to help you in the assessment or design of a low EMF/RF in home or Real Estate transaction, please email us at EMFQualitySolutions@gmail.com
Promises Made. Promises Kept.
Sierra Pacific Mortgage We’re here when you need us. Local Resources | Advanced Technology & Communications Trusted Industry Leader for Over 29 Years Local Underwriting | Premier Customer Service
C a l l U s To d a y A t
401.270.1740
Rhode Island Licensed Lender and Broker 20072185LB & 20072187LL. Company NMLS ID 1788. Branch NMLS ID: 289053
1 4 1 7 D o u g l a s Av e n u e , 2 n d F l o o r, North Providence, RI 02904
www.risbj.com | volume four issue nine
27
SMALL BUSINESS | Kick It Up A Notch
Kick it up a Notch
by Denis Robichaud
Competition for consumer attention has never been fiercer than it is in this economy. Negotiating that idea with your seller is not without its challenges but can be supported by two key statistics: 84% of people use the internet during their home search and 73% of people drive by or view a home they see online. The Real Estate community has been wise to adapt and integrate “minisites” or mini-websites. Of course the ultimate goal of any website should be to generate interest, drive traffic and ultimately close the sale. With a mini-site we can work to maximize the reach of a listing while targeting specific buyers with information and visuals that typical resources may not allow. With the movement to onlineonly shopping, and data like that featured above, we can more effectively guide and focus our efforts for a listing.
The mini-site
advantage
convenience and ease of your mobile device and invest in the power of a high quality architectural photographer who can highlight the details of your listing and capture the true charm and character of a home.
If we consider all of the important design elements as tools to help us leverage our online presence, we would take notice that high performing mini-sites employ a few powerful tools when executed well.
3. Make it real. Build interest by integrating high definition video of your listing. This is another area where finding people with professional equipment and experience can pay off. A well done fly-through of your listing can generate more interest and excitement for the property.
1. Create a consistent look. A single well-branded look that engages your target customer is invaluable. With consumers judging businesses and services online before even reaching out, you have to put your best foot forward as a reputable organization.
Marketing your listings to online users via a strong mini-site can emphasize your property while supporting your company. Embrace new technologies that can differentiate your business and elevate your brand in the marketplace, it is the competitive edge you are looking for.
2. Wow us in pictures. We’ve all heard the old cliché, “A picture is worth a thousand words.” Try not to be lured by the
Denis Robichaud Denis Robichaud Design www.drdesignri.com
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RISBJ | rhode island small business journal
AVAILABLE PROPERTIES AVAILABLE PROPERTIES
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or email Jeff Butler at jab@butlerrealty.us or email Jeff Butler at jab@butlerrealty.us Trusted Real Estate Service Since 1977 Trusted Real Estate Service Since 1977 Looking to Buy or Lease? Looking to Buy or Lease? Call the Butler! Call the Butler!
Market is moving – Listings Needed ! www.risbj.com | volume four issue nine
2”
NY Tel: 781-878-4540 Proof NE REal EstatE JouRNal Tel: 781-878-4540 NE NY NewREal ProofEstatE ProofJouRNal Approved Changes Proof
29
SMALL BUSINESS | Dissecting The Caveats Of A Legal Non-Conforming Use
Dissecting The Caveats Of A by Jeffrey W. Ray, Esq.
Essentially every municipality has adopted a zoning ordinance which, among other things, serves to regulate the development of real property and the types of uses to which such real property may be put within the boundaries of the municipality. Typically, a municipality is divided into zoning districts (i.e. residential, commercial, agricultural and industrial), each of which clearly delineates the permitted use or uses of real property located within each zoning district. Through the adoption and enforcement of a zoning ordinance, a municipality is able to regulate development within a particular locality resulting, presumably, in the preservation of real property values. At the time a zoning ordinance is adopted or amended, as the case may be, those structures legally in existence cannot be eliminated as a result of the adoption of, or amendment to, the zoning ordinance simply because such structure fails to conform to the newly enacted provisions of the zoning ordinance or amendment. This is clearly delineated in R.I. Gen. Laws § 4524-39 (a) and (b) as follows: “§ 45-24-39 General provisions – Nonconforming development. – (a) Any city or town adopting or amending a zoning ordinance under this chapter shall make provision for any use, activity, structure, building, or sign or other improvement, lawfully existing at the time of the adoption or amendment of the zoning ordinance, but which is nonconforming by use or nonconforming by dimension. The zoning ordinance may regulate development which is nonconforming by dimension differently than that which is nonconforming by use. (b) The zoning ordinance shall permit the continuation of nonconforming development; however, this does not prohibit the regulation of nuisances.” The term most commonly used to describe this particular
scenario is that the use is “grandfathered”. A “grandfathered” use, once sanctioned, is deemed to be a legal non-conforming use under most every zoning ordinance. In Rhode Island, “nonconformance” is limited to either use or dimension. However, there are a number of caveats unique to this doctrine, which include destruction, abandonment and amortization, any one of which can result in the loss or termination of the legal non-conforming use status.
DESTRUCTION
In a number of jurisdictions, the legal non-conforming use status will be lost if the structure benefitting from such right is destroyed beyond a certain percentage (typically 50%), including acts of God. In this situation, the zoning ordinance will prohibit the rebuilding of the structure, thereby subjecting the parcel to the strictures of the current zoning regulations. However, in other jurisdictions, notwithstanding the partial or even total destruction of a structure recognized as a legal non-conforming use, as long as the structure is rebuilt within a certain period of time, without deviation from its prior dimensions ( i.e. floor area, building height, parking, and property coverage), the legal non-conforming use may be preserved. Under §201.9 of the Providence Zoning Ordinance, “If more than fifty (50) percent of the gross floor area (GFA) of a building or structure nonconforming by use is involuntarily demolished, destroyed, or damaged, the Board may grant a special use permit, in accordance with section 902.4, to repair or rebuild the structure to the same size and dimension as previously existed.” In the event of a partial or total destruction of a structure protected as a legal non-conforming use, it is imperative that the owner (i) carefully review (with the assistance of legal counsel, if necessary) the applicable provisions of the municipal zoning ordinance and building regulations governing the status and use of such structure, and (ii) meet with the local zoning and building officials before repairing or rebuilding same.
ABANDONMENT
If the legal non-conforming use of a structure or real property
30
RISBJ | rhode island small business journal
Dissecting The Caveats Of A Legal Non-Conforming Use | SMALL BUSINESS
A Legal Non-Conforming Use is discontinued, such discontinuance will typically result in a loss of the legal non-conforming use status under most zoning ordinances, as long as the owner has manifested an intent to abandon the use. However, a discontinuance of the use as a result of acts of God, acts of war, foreclosure or condemnation (among others), are generally not considered evidence of the owner’s intent to abandon the legal non-conforming use status, as these occurrences are usually beyond the owner’s control. The Rhode Island Supreme Court has repeatedly held that “… the mere discontinuance of a nonconforming use for a period of time does not constitute an abandonment of that use. There must also exist an intent to abandon.” See Town of Coventry v. Carl D. Glickman, et al, 429 A.2d 440 (R.I. 1981). In Richards v. Zoning Board of Review of Providence, 213 A. 2d 814 (R.I. 1965), the Court found no intent to abandon a nonconforming bakery notwithstanding the fact that no baking operations were carried on by the owner of the premises during an eleven-year period. The Court noted that “… the bakery ovens were left in place, and no structural alterations were made which might have prevented the eventual reestablishment of the bakery. Proof of abandonment must be borne by the asserting party”. The Court in Richards went on to state that “… the abandonment of a nonconforming use ordinarily depends upon a concurrence of two factors: (a) An intention to abandon; and (b) some overt act, or some failure to act, which carries the implication that the owner does not claim or retain any interest in the subject matter”. The Court further emphasized its prior findings on the issue of abandonment in Washington Arcade Associates v. Zoning Board of Review of the Town of North Providence, 528 A. 2d 736 (R.I. 1987), by holding that “An involuntary interruption of a nonconforming use such as an economic depression or a fire does not establish the requisite intent to abandon because the cessation of the use is not a voluntary act of the user.”
In addition to the owner voluntarily discontinuing a legal nonconforming use, the owner may also evidence its intent by affirmatively changing or expanding the structure or purpose of the legal non-conforming use.
AMORTIZATION
In some jurisdictions, the legal non-conforming use of a structure may be brought to an end based upon the structure’s useful remaining economic life. In this scenario, a calculation of the present value of the legal non-conforming use is made over the course of a set period of time. Once the calculated value of the legal non-conforming use reaches zero, the legal non-conforming use status terminates. This caveat to the continuance of the legal non-conforming use status is typically applied to billboards and junkyards. As with destruction and abandonment of a legal non-conforming use, it is important to carefully review the provisions of the zoning ordinance or building regulations in the jurisdiction to determine the applicability of the caveat of amortization in connection with preserving the status of a structure as a legal non-conforming use. The foregoing discussion is not intended to be exhaustive; but, rather, is merely intended to raise potential issues associated with certain affirmative actions or occurrences that may result in the discontinuance or termination of the legal nonconforming use status of a structure or real property. It is always wise to consult a knowledgeable attorney when confronted with legal issues that may have serious or unintended consequences. Jeffrey W. Ray, Esq. PLDW Partner
In a number of jurisdictions, the legal non-conforming use status will be lost if the structure benefitting from such right is destroyed beyond a certain percentage (typically 50%), including acts of God www.risbj.com | volume four issue nine
31
SMALL BUSINESS | When Should The Mbe/Dbe Look To Invest In Real-Estate?
WHEN SHOULD THE
MBE/DBE
?
look to invest in real-estate by Michael Brito
Own or lease? This is usually the question on everyone’s mind when the topic of additional space arises. I say “additional space” because this question isn’t typically the initial one when we start-up. Here’s what happens when one of two things occur; expansion dictates the need for additional area or the location is now up for renewal therefore purchasing conversations begin. At any rate, we need to be ready to answer some very relevant questions. Ask the following, and be honest with yourself as I’ve mentioned in past articles, fooling yourself will only harm your company so use an informed consultant here. 1. Am I properly positioned (financially and emotionally) to take on this next step? Talk to your financial advisor, your banker and your partner - in business and your partner at home. 2. Is this location where I want to be, is it the best location for my company’s future? Look at your five and ten year outlook. Be sure this location will afford you the best exposure as well as opportunity. 3. Have I done a proper market analysis to show me the best ROI should I choose to sell? By all means consult with an independent agent -independent of the potential deal!
Look at your five and ten year outlook. Be sure this location will afford you the best exposure as well as opportunity. 32
RISBJ | rhode island small business journal
4. Does it provide room for expansion in the future? Refer back to your future goals and expand on them. Research local codes, neighboring structures and potential permitting issues you may encounter. Be sure the changes in your goals fits the site you are looking into. 5. Has my insurance agent assessed the additional risk and advised me? Assessing risk is self-explanatory but often times we missed the simplest steps which could be detrimental to a business. 6. Are there other tenants in the building presently? Do I want to take on the role of landlord? Accepting the role as landlord will most definitely add a burden to the smaller enterprise and you must be able to handle it! 7. Are there any liens or tax holds on the property? Using a trusted closing attorney that will do a thorough review so you’re not blindsided later on is extremely important. Old debt is an anchor, more so when it’s not your own! 8. Should the company look into property acquisition and build and am I able to handle such a project or do I have the knowledge/time? If you have no experience in this area, stay clear if you can’t afford to contract out the responsibility. These are just a few questions when considering the lease or purchase conundrum regarding your business expansion questions. When focusing on the minority business community regarding real-estate, things get interesting! Consider the available agencies in our little state of Rhode Island that exist to mentor, guide and coach us through the process of growth and generally doing what we do. These same groups are there to assist us in the area of realestate advice/acquisition so reach out and just in case you’re not aware of them, I’m here to help… Michael Brito Team Member, Managing the Road Ahead www.managetheroadahead.com
WE DON’T HAVE TO
BRAG ABOUT OUR
“ RoseMarie Clemente is the most effective real estate professional I have met. She is extremely efficient, knowledgeable and creative. She handles challenging and difficult situations with great diplomacy and ease. “ Integrity” and “ Successful “ are the words that come to mind when I think of RoseMarie. She is the kind of person you want to help you navigate through any real estate transaction “ J. Riechling
BUSINESS,
“I hired Baron & Clemente Real Estate to sell my multi million dollar condominium project, through the construction phase, design and staging phase, and most importantly the selling phase, RoseMarie Clemente and her team of professionals SOLD the uniqueness of my project. Clearly for any of my future real estate needs I will turn to Baron & Clemente Real Estate “ R. Baldelli
BECOME PART OF THE WINNERS CLUB, CALL BARON & CLEMENTE REAL ESTATE IF YOU HAVE A HOME TO BUY OR SELL!
“ RoseMarie Clemente of Baron & Clemente Real Estate helped me sell my properties, diligently, gracefully and profitably. She saved me thousands !!! “ M. Grieco Sr.
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BARON & CLEMENTE REAL ESTATE
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Rhode Island Property Advisory Company
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Financial Management Meeting and conquering the countless steps in making payments, billing, collections and banking is the business of property management.
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Are You Up To Speed On The New Tax On Short-Term, Private Home Rentals? | SMALL BUSINESS
Are You Up To Speed
on the new tax on short-term, private home rentals?
A few months ago, the General Assembly approved a new tax in the Governor’s budget on short-term, private home rentals. Since July 1st, any homeowner or rental agent that rents all or part of a cottage, home or other residence for 30 days or less is required to apply for a sales tax permit with the Rhode Island Division of Taxation and pay a tax on the rental proceeds. Those who rent an entire home now owe an eight percent tax; those who rent part of a home – one or two rooms for example – owe 13 percent. Rentals of more than 30 days per tenant are not subject to the new tax, nor are month-to-month tenancies, nine-month rentals and one-year leases as long as there is a written rental agreement. In addition, any rental completed by December 31, 2015 is exempt if the rental contract was signed prior to July 1st of this year. Property owners, landlords and rental agents should be aware that there is no minimum threshold for this tax to take effect. If
Property owners, landlords and rental agents should be aware that there is no minimum threshold for this tax to take effect.
a property is rented for one day per year, the taxes would apply. Once a property owner files with the State, returns must be filed monthly whether or not taxes are owed for that month unless the homeowner or rental agent has indicated on their tax permit application that they rent seasonally only. In that case, they need to file only during the seasonal months indicated on the permit. The taxes are due to the Division of Taxation by the 20th of the month following the collection of rental income. To make matters a bit more complicated, only part of the tax is filed with the Rhode Island Division of Taxation. If a property owner owes the eight percent tax, seven percent goes to the State as sales tax, one percent is paid to the city or town as a local hotel tax. The same holds true for those who owe 13 percent for renting part of a home but they must also pay an additional five percent state hotel tax. The Rhode Island Division of Taxation plans to check Craigslist and similar sites and cross check the rental income that taxpayers declare on the federal tax filings. Failure to submit the new taxes could result in up to one year imprisonment and/or financial penalties of up to $5000 per occurrence. Though the Rhode Island Department of Revenue announced publicly that there will be no criminal prosecutions for failure to comply for the first fiscal year which ends on June 30, 2016, it will impose late filing fees, fines, interest of 1.5% per month and other penalties. Anyone looking for more information or answers to frequently asked questions can visit the Rhode Island Association of Realtors’ website at www.riliving.com/rentaltax.
www.risbj.com | volume four issue nine
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SMALL BUSINESS | Easy Steps For Buying A New Home
Easy Steps For Buying A New by Daniel E. Giroux
1) Preparation Period
• Build a good credit history. Pay all bills on time and keep balances low. • Get mortgage PRE-APPROVAL. • Consider hiring an attorney to review all contracts and agreements associated with the home buying process. Often lenders will have attorneys available for review. • Figure out what you can afford for a down payment and where it will come from. - Consider closing costs which can include taxes, attorney’s fees, and transfer fees. - Consider utilities and monthly bills.
2) Interviewing a Real Estate Professional
• Get a referral from friends, family, and work colleagues that have worked directly with that realtor. Do not use a friend of a friend without a proven track history. • Interview several buyers’ agents. Ask about buyer’s representation contracts and agreements; make sure you understand the terms. • Explain your needs and expectations to the real estate professional you choose to work with.
3) Finding the Perfect House
• Determine what is important to you; particular schools, neighborhood amenities, monthly mortgage payment,
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Home
public transportation, walkability, etc. • Make sure you include home owner’s assessments, utilities, and taxes when calculating the monthly mortgage payment.
4) Finance the Property
• Contact your mortgage broker or lender. • Make sure you understand the financing terms—ask the lender for clarification, if necessary. • Follow your loan originators direct. They are there to assist you but need to be on the same page. • Do not apply for new credit, quit your job, change jobs, or deposit large amounts of funds during the loan process.
5) Make an Offer
• Read all contracts before signing—make sure you understand all of the terms, ask questions. • Place a competitive bid and be prepared to make a counter-offer. • Keep your credit score stable and in-check by waiting to purchase any big-ticket items until long after the closing. • Ensure the property is inspected by a licensed home inspector.
Daniel E. Giroux NMLS 26531 Owner, A-Plus Mortgage LLC NMLS # 2748 Licensed Rhode Island Lender And Loan Broker - APLUS NMLS# 2748 Rhode Island Loan Broker License– 20041842LB ,Rhode Island Lender License– 20142971LL
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SMALL BUSINESS | Technology! Technology! Technology!
Technology!
Technology!
Technology! TIPS FOR THE REAL ESTATE PROFESSIONAL by Jeremy Bargiel
Real estate is a business defined by buying, selling, or renting a property. It is an industry that is constantly evolving over time through increasing rules and regulations, economic uncertainty, and financial possibilities. It promises a simple education and a fortuitous graduation through convenient slogans like “Location! Location! Location!” or “Buy land, they’re not making it anymore!”, but there are more stories of personal success and epic tragedy written in real estate than most other industries combined. Real estate entrepreneurs suffer from the traditional business pitfalls of client dependence, money management, and workforce dependability. The pathway to prosperity is paved through a number of avenues. Client and property diversification lead to a stronger business pattern for growth and less opportunity for substantial stagnation or decreasing income. Continuous cash flow and deep capital reserves enable
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companies to maintain growth and cover all untimely operational costs. Detailed experience, focused training, and strong employee relationships empower a company to move forward regardless of business or personal related problems in the workplace. These fundamental issues are commonplace and templates for accomplishment exist, but how does an organization cope with constantly changing technology challenges?
Network Infrastructure
Networks provide the flexibility and efficiency to communicate and share ideas on a global scale. Switching is the lifeblood of the network and the key to maximizing growth and productivity in the marketplace. A breakdown or flaw in your infrastructure will result in the inability to close client sales, offer new properties, distribute correct information, sustain new business, strengthen past business, partner with team members, hire the best talent, and build a solid reputation. Real estate is a relationship business and, regardless of a great service, the business will not thrive or
survive without the ability to disseminate clear information to the team and clients.
IT Security
Quality security prevents information theft, privacy breaches, and data corruption and is the difference between a minor client inconvenience and a major situation threatening bankruptcy. The increasing use of the web 2.0 platform, social networking, and real time applications for the real estate business produces a higher risk of vulnerability to network resources and web applications from malware, viruses, spyware, and adware. Through streaming content, online chats, and video conferencing, networks are exposed to 100’s of direct threats and daily remote attacks by proxy-jumpers. It’s never been more difficult to secure confidential information and the liability of a leak can have severe revenue, reputation, and legal consequences.
Business Continuity
Business continuity is the process of recovering data quickly and
Technology! Technology! Technology! | SMALL BUSINESS
Real estate is a relationship business and, regardless of a great service, the business will not thrive or survive without the ability to disseminate clear information to the team and clients. efficiently following a system failure. A compromised or down network, for any amount of time, can have a catastrophic effect on ecommerce systems, payment processing, ERP systems, and digital records and storage. The loss of sensitive data can strike at any time and for a multitude of reasons: database corruption, hardware crashes, and human error or natural calamities. It is vital to incorporate a solution to better centralize daily management tasks and improve the flexibility, scalability, and efficiency of hardware resources which will quickly reduce costs, decrease the physical footprint, lower power output, and increase productivity.
The Technology Advantage
The demand for real estate can be affected by many outside forces: population demographics, debt burdens, industrial and commercial demand, capital market liquidity, interest rate fluctuation, and global uncertainty. The real estate community anticipates these factor through past data indicators or actualized action plans. The answers to problems of the past are time-tested, but todayâ&#x20AC;&#x2122;s real competitive advantage is found through employing the proper technology and committing to an accurate risk assessment platform which will empower and protect your business for near term sustainability and long term success. Jeremy Bargiel, Writer TBNG Consulting www.tbngconsulting.com
www.risbj.com | volume four issue nine
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SMALL BUSINESS | Personnel Practices: Best Practices For Social Media In The Workplace
Personnel Practices BEST PRACTICES FOR SOCIAL MEDIA
IN THE WORKPLACE employer-owned equipment or networks is subject to monitoring by the employer and that the employee
by Matthew R. Plain, Esq. & Kristen M. Whittle, Esq.
More than a decade after the birth of modern social media, it is now ubiquitous in all aspects of society. According to surveys from statista.com, Twitter averaged 304 million monthly active users in the second quarter of 2015, and Facebook averaged nearly 1.5 billion monthly active users worldwide. We are often asked by employers what the law requires with respect to social media in the workplace. Although Rhode Island recently passed a law prohibiting employers from requiring employees to share their personal social media passwords and to connect with the employer on social media, there are many other issues concerning social media that remain unaddressed by statutes, regulations, and case law. Given the relatively recent development of social media, this is an evolving area of the law—and one where we can expect the General Assembly and the Courts to make further changes to the law going forward. For now, as a best practice, employers should implement a policy addressing the use of social media in the workplace. The policy should be designed to supplement and apply in conjunction with other employment policies concerning, for example, confidentiality and harassment in the workplace.
•
• 40
A prohibition on personal use of social media in the workplace. Best practice dictates prohibiting employees from using company computers, networks, and servers to access their own personal social media accounts for non-work-related purposes during the workday. Aside from the loss of productivity that the use of social media can cause, if an employee were to use social media for improper or illegal means, the employer could potentially be vicariously liable for conduct committed on its equipment during working hours.
A statement that any activity conducted on RISBJ | rhode island small business journal
Guidelines for employees’ interactions with clients on social media. For example, medical
offices, educational institutions, and social service agencies may seek to prohibit employees from connecting on social media with current patients, students, or clients due in part to heightened privacy requirements in those fields. Social media policies should NOT include:
•
Social media policies SHOULD include:
•
should have no expectation of privacy with respect to any information shared on the employer’s equipment or networks. In the event that the employer needs to investigate allegations of misconduct, that statement may streamline the process by which the employer can access the electronic information.
•
A requirement that employees share their personal password with the employer or connect with
the supervisor or company on their own personal social media pages. Rhode Island recently passed a law prohibiting these practices, which may be considered an invasion of the employees’ privacy.
Overbroad prohibitions on the employees’ speech. Although
the policy may prohibit employees from speaking on behalf of the company without prior authorization, it should not go so far as to prohibit employees from discussing the terms and conditions of the workplace, which is considered protected speech by the National Labor Relations Board.
Personnel Practices: Best Practices For Social Media In The Workplace | SMALL BUSINESS
if an employee were to use social media for improper or illegal means, the employer could potentially be vicariously liable In addition, employers should carefully protect their company’s social media accounts. Specifically, employers should designate a few key people to manage your company’s social media pages, and require them to share the passwords with management. In the event that your social media manager(s) leave the company, you should retain access to the company’s social media accounts. Change the password immediately after that employee’s separation from the company. The potential risks of having a non-employee (or worse—a recently-terminated employee) with access to your company’s social media sites are significant. Matthew R. Plain, Esq. Partner, Barton Gilman LLP
STAY CONNECTED with RISBJ
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Kristen M. Whittle, Esq. Associate, Barton Gilman LLP
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www.risbj.com | volume four issue nine
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SMALL BUSINESS | When And How To Document Workplace Safety Incidents
WHEN AND HOW
TO DOCUMENT
W O RKPL A C E S AF E T
No employer or worker wants to see injuries or illness from an accident at work. While the law requires that all workplace incidents that cause illness or injury be documented, the National Safety Council also recommends that your company document any safety incident that might have led to an accident or injury, even if no injury occurred. Doing a thorough investigation and review of any near-miss incident is the best way to prevent future accidents. Here are the steps the National Safety Council recommends for documenting safety incidents, regardless of whether an illness or injury resulted:
1. Evaluate and document the scene: • • • • • • •
Get to the site as quickly as possible. Ensure the area is safe to enter. Make sure the injured/ill person is receiving first-aid or medical attention. Identify any witnesses. Record the scene with photos (ideally with date and time stamp) or sketches. Safeguard any evidence. Establish what happened.
2. Investigate the safety incident:
The investigation should answer six questions: Who, What,
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When, Where, Why, and How. Determining the answers of all six questions will help explain the event and point to ways to prevent future occurrences.
3. Interview people involved in the incident:
Interview all people involved and look for all the causes. Avoid blaming anyone involved, even if an individual admits to causing the event. Investigate every element including but not limited to procedures, supervisor’s directives, training, machinery, and weather. Your organization’s incident and/or near-miss reporting forms should include guidance on this process.
4. Document the details of the incident:
Properly document all incident investigations, using your organization’s approved investigation form. This form should be easy to understand and complete so that it is simple to remember what questions to ask. Once it is completed, file and retain it in chronological order.
5. Protect privacy:
Investigation reports should not to be released to anyone without proper authorization, so that the privacy of all involved is protected.
6. Review investigations:
Before attending the next safety committee meeting, review all incident and near-miss investigations that have occurred since the
When And How To Document Workplace Safety Incidents | SMALL BUSINESS
T Y IN CI DEN T S Doing a thorough investigation and review of any near-miss incident is the best way to prevent future accidents. last safety committee meeting. This will help the committee identify ways to prevent future incidents.
OSHA Reporting
For any incidents involving injury or illness, organizations are generally required to complete several OSHA (Occupational Safety & Health Administration) forms as well. You or the relevant employees should have a full understanding of OSHA requirements, as well as the needed forms on hand, before any incident occurs. This will help protect your organization and your employees from mistakes in record keeping. The main required OSHA injury and illness forms are: • 300: Log of Work-Related Injuries and Illnesses. This log of each recordable workplace accident, injury or illness must be kept current, with any incident entered within 6 working days of learning about it. • 301 (or equivalent): Injury and Illness Incident Report. For each incident, this detailed report must be completed within 7 days of learning about an incident. • 300A: Summary of Work-Related Injuries and Illnesses. This form summarizes the number and nature of on-the-job injuries and illnesses for a calendar year, compiled from your OSHA accident report forms and logs. These OSHA forms are not filed with the government. Your
organization is required to keep them on file for 5 years, either in paper or electronic format, and make them available for review by OSHA inspectors if requested. If an accident or incident leads to litigation, you should preserve the related reports until all legal action, including appeals, has been resolved. (Note: workplace fatalities require much more stringent reporting, which we do not discuss in this article.) And remember to follow general privacy guidelines to protect the privacy of employees and individuals involved, especially in any forms and reports that are required to be available for employee review. You can find detailed information on all reporting requirements, as well as downloadable forms, at OSHA’s website under “Recordkeeping.” We are committed to helping your organization become as safe as possible by preventing injuries and accidents. Rob Levine & Associates specializes in Personal Injury throughout Rhode Island, Connecticut and Massachusetts, as well as Social Security Disability and Veterans Disability throughout the country. As “The Heavy Hitter” Rob Levine not only works hard on your case, but also believes in making a positive impact in the communities he serves. Through internal resources, education and volunteerism, Rob Levine & Associates strives to help prevent accidents, as well as raise awareness around the needs of our elderly and returning veterans. For more information visit www.roblevine.com, or call 401.529.1222 or toll free 800-529-1222. www.risbj.com | volume four issue nine
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OCEAN STATE
BUSINESS
The Ocean State Business Expo, Rhode Island’s premier event for connecting businesses to each other, is scheduled for Thursday, October 8, 2015 at the Crowne Plaza in Warwick. The expo will open in the Grand Ballroom at noon and run until 6pm. The expo’s mission is to support the growth and development of Rhode Island’s business community. The excitement is building as we welcome more sponsors and exhibitors than ever before. The expo features over 120 exhibitors and valuable informational seminars throughout the day. Join us at the Expo Kickoff Event on Monday, October 5th from 5:00pm - 7:30pm at BoneFish Grille Chapel View in Cranston, RI. Take a look at the Seminar Schedule so you can mark your calendar for the ones you are planning to attend.
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2015 OCEAN STATE BUSINESS EXPO SEMINAR SCHEDULE 12:30pm – Busidex with Lizzabeth Brown Busidex is a cloud-based tool designed to foster continuing relationships among individuals who meet and exchange business cards. Busidex allows you to “own” and “share” your business cards either via the web or our mobile APP, with the ability to instantly update your information to all of your contacts, as your job or situation changes.
1:00pm - How to Start and Run a Profitable Business with David J. Lucier CPA There are many advantages to running a small business - independence, satisfaction, sheltering income and profits. Did you know that 89% of incomes over $100,000 a year are earned by owners of small businesses? However, 4 out of 5 businesses don’t last five years and few ever earn the profits they should. What is the difference between success and failure? Knowledge. In this presentation you will learn about the unknown formula to earning substantially higher profits than others; ten hottest businesses; how to slash hundreds off your taxes; twenty biggest “pitfalls” in starting and running a small business to name a few.
1:30pm - Scale Up Your Business Using the Rockefeller Habits with Bill Napolitano Industry dominance starts here. Put your business on the road to sustainable growth. Every big business was once a small business. Learn about the Four Decisions™ that every business leader must get right in order to have double-digit growth and market domination. In the presentation you will learn the Rockefeller Habits™ 2.0 tools and strategies to scale up your business.
2:00pm - Email Marketing Best Practices with Michelle Girasole Did you know that 51% of email today is opened on mobile devices? Mobile internet usage is growing fast more people are starting to receive and read your messages with their smartphones. The old rules of email marketing no longer apply. Join us for this seminar, sponsored by Constant Contact, to increase the effectiveness of your email outreach to engage with your current and potential customers.
4:00pm - Instagram: Expose & Grow Your Business Through Imagery with Elise Francesca Fargnoli Through use of our creative eye, we can capture our business philosophy and mission via the lens of our phone. Let’s tell the story of our business, our employees, our goals, and our ideas through pictures. A picture is truly worth 1,000 words -and now, with the power of hashtag’s, raise awareness and exposure of your business by both categorizing and showing up in the search engine explored by users all around the world every second of the day.
5:00pm - Optimize Your Digital Content for Your Ideal Buyer with Michaela Kennedy Developing your brand online takes a little planning. Digital tools allow you to move from mass marketing frustration to focused success. Michaela will reveal how to target your ideal customer online, and bring buyers to your door through good content marketing and search optimization practices.
L ear n m ore abou t o u r k e y n o t e s p e a k e r a n d p r e s e n te r s a t
OceanStateBusinessExpo.com
790AM Talk & Business OSSBE Broadcast Schedule
List of Exhibitors: AcuTherapy and Lighthouse Pain Management Centers Alpine Country Club AM 790 Talk & Business Ambit Energy APLUS Mortgage Arbonne Bank Newport Blue Cross/Blue Shield RI BNI West Bay Bureau of Labor Statistics Busidex LLC Camp Bow Wow West Warwick CCMS Go Mini’s Central Rhode Island Chamber of Commerce CFS, Inc. City of Cranston & Cranston Chamber of Commerce Clean Rite Cleaning and Restoration Coastway Community Bank ConnectPay Paryoll Services Constant Contact Inc. Corner Bakery Cafe Corporate IT Solutions Corrente for Mayor Cox Business Security Solutions Dave & Buster’s Denis Robichaud Design DocWeb TRC Employers Association of the Northeast Goodwill Industries of Rhode Island Health Services Administration HomeSmart Professionals INNOVEX Innseason Resorts It’s Your Call Jennifer L. Wilkicki, LMT Johnson & Wales University Johnson & Wales University Graduate Admissions Kerry Cudmore LIfe & Business Coaching Kii Koncepts Lang’s Bowlarama LegalShield Liberty Mutual Insurance Company Lincoln Technical Institute
Lucier CPA Inc. Lynch’s Cleaning & Restoration Service Lyoness Networking Group Massage Envy Spa MOD Data Tech, Inc. My Chef Lara Neighborhood Health Plan of RI Office Direct ProActive Leadership Group Prosnitz Communications Quality Transitions R.E. Coogan Heating Inc. Rescom Exteriors, Inc. Rhode Island Small Business Journal Rhode Island Telephone RI Kitchen & Bath Roger Williams University - Providence Campus Salve Regina University SATA Airlines/Azores Secure Future Tech Solutions Serenity Day Spa Service Master Restore of Rhode Island Servpro of Providence Shanix Technology, Inc. Sign Guild Silpada - Monique A Desormier Simplafyi Small Business Development Center South Eastern Economic Development Corporation State-Wide MLS Suburban Propane, LP TBNG Consulting The StayFit Plan US Small Business Administration Verizon Wireless Viridian Energy Washington Trust Wireless Zone WRIK Entertainment WRIK Photo Booth Xzito Creative Solutions Zipcar
Live Broadcast during the Expo!
12:00-3:00 pm AM 790 Hosts
u DiscovenrtsYo Eve
See A Complete List Of Exhibitors At OceanStateBusinessExpo.com www.risbj.com | volume four issue nine
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SMALL BUSINESS | College Prep: An Ounce Of Gas Detection Can Prevent A Tragedy
COLLEGE PREP An ounce of gas detection can prevent a tragedy
by John V. Carvalho III
You’re a facilities manager at a college or university in Rhode Island. Given the long history of many of the schools in the region, there’s a very good chance there are many aged buildings on your campus. With old buildings, there is a lot of character and integrity, but there are also many maintenance and safety issues. Without proper upkeep, old buildings become a danger to their inhabitants. With this in mind, as a facilities manager, when was the last time you had your gas detection system checked for your dormitories, labs, and other buildings on campus? Chances are, if you have to look at your calendar, it’s been too long. That can leave your institution—and lives—vulnerable to a potential gas or toxic leak. In Rhode Island, by law, dormitories are required to have a carbon monoxide (CO) detection system (see the National Conference of State Legislatures’ website at http://www.ncsl.org/research/ environment-and-natural-resources/ carbon-monoxide-detectors-state-
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statutes.aspx). While a CO leak is more dangerous in buildings where people are sleeping, people can be just as vulnerable in a classroom, lab, cafeteria, or athletic center without the correct system in place and maintenance/ monitoring program. In addition to detection systems, it’s recommended that each CO detector be calibrated or tested at least once every six months. Each time a CO detector is inspected by a gas detection expert, the technician checks the CO detector to ensure that it is accurately reading CO and that the detector itself has not expired. In either case, the detector should be replaced immediately on the spot by the gas detection technician. Larger colleges with stadiums and indoor athletic centers that can attract significant crowds for sporting and other events can pose its own set of challenges when it comes to hazardous gas detection. Gas detection manufacturers, such as RAE Systems by Honeywell, have developed a wide range of products that can be deployed around such a venue with readings being sent back to a central command
post. This gives those monitoring a sporting event the capabilities to set up a perimeter around the venue and monitor any potential threats. Laboratories present a different set of challenges. All labs should be equipped with some sort of gas detection monitoring system that can alert you to combustible or toxic gases. The recommended type of system for most labs is a constantly monitoring, hardwire stationary gas detection system with a monitoring panel and sensors located throughout the laboratory. Other opportunities in educational facilities can produce hazardous gas, for example a broken propane tank pipe or trucks idling in a confined space, such as a parking garage or loading dock. Any of these can produce a CO leak and cause a major incident if undetected. Unfortunately, some institutions feel the investment in a gas detection system to be sufficient and don’t take the extra step of having the system maintained on a regular basis. The problem with this is that you cannot know a gas detection
College Prep: An Ounce Of Gas Detection Can Prevent A Tragedy | SMALL BUSINESS
With old buildings, there is a lot of character and integrity, but there are also many maintenance and safety issues system is working unless it’s tested with the appropriate gases. Since most facility managers do not intentionally have those gases on them in a safe form to test their system, there is no way for anyone to know if the system is actually reading gas. Consequently, by not having a routine maintenance system in place, you can put the health and safety of students, faculty, staff and visitors at risk if your gas detection equipment is not functioning properly. When it comes to exposure to gases, it only takes one incident to put lives in jeopardy and open up your institution to tremendous liability. When you compare the cost of an annual maintenance plan—roughly $1000--with the thousands of dollars associated with a wrongful death or liability lawsuit, the investment in a maintenance and monitoring program makes all the sense in the world. A facilities manager at a college or university has many responsibilities. The safety of the students who live on campus and the staff and visitors who are on your properties every day is perhaps the most important of those responsibilities. You can run a smooth and efficient operation for 20 years with little fanfare. One incident with your gas detection equipment system (or lack of a system altogether) can mar that reputation. Installing a state-of-theart gas detection system with regular maintenance and monitoring buys you peace of mind that you just can’t put a price tag on.
John V. Carvalho, III is the president of Apollo Safety, Inc. Veteran-owned, Apollo Safety specializes in gas detection products and services for portable and stationary systems. For information, please visit www.gasmonitorinstallation.com or call 800-813-5408.
Dealing with Deadly Gases?
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To schedule a FREE review of your gas detection! www.apollosafety.com www.risbj.com | volume four issue nine
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Connecticut Office 50 Industry Drive, West Haven, CT 06516 Telephone: +1 (203) 933-8264 E-mail: info@tbngconsulting.comwww.risbj.com | volume four issue nine
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Save on energy and make the rest of your business better. Our energy saving solutions can help boost your companyâ&#x20AC;&#x2122;s productivity and bottom line. And now that Rhode Island has ended its energy tax for businesses, those solutions are more attainable than ever.
To learn how we can help, visit ngrid.com/smallbusiness
RISBJ are | rhode island small business journal These54 programs funded by the energy efficiency charge on all customersâ&#x20AC;&#x2122; gas and electric bills, in accordance with Rhode Island law.