Premises with a makeweight

On results 2006 Petersburg fund of property expects to sell at tenders approximately 900 objects of uninhabited fund (basically attached premises) which belong to city. average price on results of auctions makes nearby $1000 for 1 kv. m. Though small construction in city centre leave much more dearly. For example, in November a premise a total area 84 kv. m, located on 1-st floor in house under Country prospectus, 13, it has been realized approximately on $2840 for 1 kv. M, and a 60-meter socle in Big Sea street, 57, - on $2265 for 1 kv. M.
Committee on management of city property without fail directs (KUGI) on tenders of a premise if they lease under rates no more than 50 c.u. for 1 kv. M a year (it, as a rule, objects on surburbs, in second-third court yard, semibasements and ò. Item) if rent for areas is advanced up to end 2009 or for greater term ( size of rate and a site of a premise thus have no value) if tenant is released from payments for a year or more in connection with offset of expenses for capital repairs, at last, if user himself has submitted application on repayment of "walls" ( application will not satisfy only in event that rented object is located on one of 11 highways recognized most attractive for businessmen).
Under current legislation tenants have no right of priority to repayment of premises. They should compete for them on auctions with foreign - at times much more solvent - applicants.
" Position really bad: small businessmen take from KUGI " killed " objects, result them at own expense in a divine kind and are compelled at tenders on equal to struggle for premises with large business. They to themselves have dug a tomb, considerably having increased due to repair market appeal of objects. I consider, it is greatest injustice. It is necessary to lobby amendments to federal law on privatization ", - chairman of commission on economic safety of public advice on small business considers at governor of Petersburg Valentine Botsvin.
" Though new variant of law is not accepted yet, city nevertheless is interested, that tenants had a set of financial tools allowing them to participate in auctions and to win, - assistant to general director of fund of property of Petersburg on economy and finance Vladimir Zhukovsky makes comments. - Actually, such tools two: crediting on security of got object and leasing. first is most obvious and clear. However to use it it does not turn out yet. A problem legal: between transition of property right to buyer and registration of mortgage there is a time break. Bank-creditor in this situation appears vulnerable. To eliminate a collision it is possible only by means of amendments to hypothecary legislation. Therefore today leasing is especially actual ".
Fund has already concluded frame cooperation agreements with several leasing firms ("Zest", "Globe-leasing", "Baltinvest", leasing company of Íîìîñ-bank). This list is opened. Officials invite to cooperation of all serious players of market. " In 2007 we plan to realize at tenders not less than 1000 uninhabited objects. It is More than half of sold premises are populated by tenants. As a rule, users live in them not first year, they on a regular basis bring a rent so, have quite steady business. They are absolutely clear clients for leasing companies ", - Vladimir Zhukovsky explains.
Among first agreement with fund of property was signed by company " Zest ". It is ready to get objects, giving them in further in leasing for term of not less than two years. client should bring advance payment at a rate of 20 % from sum of transaction. "Zest" it is ready to work with premises which initial price at tenders makes not less than 2 million rbl. " We preliminary we estimate a market project cost and possible risks connected with its purchase. Up to an output on auction we establish price of cutting off, more which to give are not ready ", - assistant to general director of Joint-Stock Company " Zest " Svetlana Rjasnaja tells.
Company did not participate in tenders yet, but for two months is fixed over 30 references from tenants. application file more than on $3 million is generated
Auction experience already is available for Joint-Stock Company " Baltic leasing ". However, while negative. " We too in advance have stipulated stop-price with client and have registered it in leasing contract. On results of auction it has been exceeded more than twice. We have withdrawn. What to do in such situation? On a course of tenders to renew contract for other sum it is impossible. However, in this case tenant was not ready to buy a semibasement premise on Vladimir prospectus on $4500 for 1 kv. It has declared m. to us, that does not understand, due to what it is possible to beat off such expenses ", - sales manager of company " Baltic leasing " Vladimir of Najmark tells.
similar history has occured to client of leasing company " XXI century ". " We have coordinated price for a premise in 2 million rbl., and at tenders it has jumped up up to 10 million rbl. Unless it is possible to build interaction with leasing structures in conditions of price uncertainty? " - general director of firm Larissa Pushilina is perplexed.
Valentine Botsvin considers: " When at a federal level right of diligent businessman to redeem real estate - let and at market price then also price of transaction it will be possible to predict will be fixed. Here then there will be a present splash in demand for leasing services in market of state objects ".
However, in fund of property believe, as in present conditions of prospect at such business is, main thing - to employ competent appraiser who with a significant degree of accuracy can predict final price of auction. Vladimir Zhukovsky counts, that first transactions under leasing program will pass in end of it is beginning of next year.

Plus on a minus

One of basic advantages of leasing scheme for buyer - economy on taxes. Leasing payments concern on cost price of production. Besides enterprise can apply accelerated factor of amortization. " Leasing - unique in own way tool of support of real sector of economy. It by definition is favourable to those enterprises which white salaries pay and show full proceeds ", - director of Northwest leasing association Tatyana Pozdnyakov considers.
Nevertheless to objects of real estate this financial mechanism is applied while extremely seldom. reasons a little.
Not all leasing companies actively advance service in connection with legal problems. " Between Civil code, laws on financial rent and on registration of rights to real estate there are some contradictions. For this reason contract of leasing of real estate, to put it mildly, did not become most popular in an economic practice. Legislators have concluded us in original scissors ", - chief of a department of leasing of real estate of Joint-Stock Company " Zest " Irina Moltasova makes comments.
From legal point of view difference of financial rent from classical consists that at moment of fulfilment of such transaction leasing company is not proprietor of property which it transfers addressee of leasing. However under law on registration rent is a restriction of property right. Therefore to register lease agreement it is possible only in event that leasing company has already issued rights to object. That is all on contrary.
However sequence of actions in this case is basic. " It defines essence of contract. If order is broken, any checking body, first of all tax, can see in leasing classical rent. Than it is fraught for leasing company? right to accelerated amortization of object Is lost, there is an additional charge of profit taxes and on property, penal sanctions " are applied, - Irina Moltasova explains.
Unique output - simultaneously to submit on registration both contracts - sale and purchase and leasing, hoping that management of Rosregistratsii will issue these transactions one number.
Other serious obstacle, stirring to development of market, - behaviour of sellers of real estate. " In secondary market proprietors still do not wish to designate real sum of sale in contract and operate with balance cost. Nobody wishes to pay profit tax. building is on sale for 10 million, and under documents one million appears. Only in market of new buildings calculations occur at real market cost. In what here a problem for leasing company? bank finances it under contract of sale and purchase. What sum of it is specified, bank and will list that - it is more than copeck. Even if estimation of object on order exceeds figure specified in contract ", - Vladimir of Najmark speaks.
On that situation has changed also sellers have ceased to prefer suitcases with money, time is required. " While conjuncture in market of commercial real estate is those, that game rules are dictated with owners of areas. Complex leasing schemes it are uninteresting. Liquid objects in deficiency, therefore buyers should be arranged under requirements of their owners and to find credits if own means do not suffice ", - head of a department of commercial real estate of company " Adveks-Rosstro " Tatyana Kirsanov makes comments.
One more nuance - leasing extends not on all kinds of real estate. " commercial areas all are on sale at a stage of construction more actively. But to not finished construction leasing scheme is inapplicable. Besides it is impossible to issue ground areas in leasing, transactions with property complexes " therefore are excluded, - general director of company Praktis Consulting and Brokerage Ilya Eremenko argues.
However, leasing companies offer roundabout a way. If a subject of transaction is building with a site structure is transferred client in leasing, and ground - in classical rent. After all payments under leasing contract are completed also buyer becomes proprietor of real estate, it acquires right to repayment of a site. For example, such transaction is concluded in company " Progress-Neva Lizing ".
Businessmen interested in purchase of objects by installments, too have reasons, stirring to them to become clients of leasing structures. In particular, terms of contracts. majority of companies objects in leasing transfer a maximum to five years (in rare cases - on seven). Vladimir of Najmark considers, that it is a question of development of financial market as a whole. In process of arrival to country of long western money terms will increase. " 2-3 more years back and contract for five years was considered as unattainable dream. Now it is norm. If we as a result shall come by 10 years in view of trebled amortization which can be used at leasing, it will allow to write off during term of contract even new object ", - makes comments on Najmark.
In firm " Aventin-Nedvizhimost " mark, that clients, ready to conclude leasing contracts it is, a lot of, but they do not accept price of service. Percentage payments today make 8-12 % in roubles a year from a project cost (depending on its characteristics, risks of concrete transaction and so forth). There are also higher rates.
Thus, according to Vladimir Najmarka, average profitability of leasing company is equal 2-4 %: " This market already became very competitive. In my opinion, rates under leasing contracts quite correspond to a present financial situation. Certainly, client would prefer to buy object in general a demon of percent. But then it will receive unreasonable profit: other organization will pay for it, and cost of got property will grow - even due to inflation ".
Initial payment under leasing contract usually makes 15-25 % from cost of got property.
One more problem interfering development of market, - elementary illiteracy of potential clients. To small businessman, which itself stands up for a counter of shop or behind a rack of cafe, it is difficult to understand subtleties of financial rent. It is characteristic, that among not numerous leasing transactions operations with industrial real estate prevail. Industrialists, having tested scheme with leasing equipment, distribute it and to real estate.
Today's attitude to leasing reminds a situation in hypothecary market several years ago. Director on development Becar Realty Group considers Igor Gorsky, that, as well as in case of with mortgage, active state support is necessary for development of leasing. " About hypothecary crediting conversations went years 10, but they and would remain declaration if authority did not become catalyst of process. Rates on leasing operations should be below, than under bank credits then this direction will go to growth, - believes Igor Gorsky. - in turn, application of white leasing schemes will help to legalize new monetary streams. mortgage - mass market, leasing - more piece. Objects (especially industrial) are more difficult for selecting and estimating, than typical apartments. However it is not known, at what of these financial tools potential above ".



  Source: Info Cash Loan (22.12.2006)