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Clifton Said:

what kind of insurance do i need for a property that is zoned commercial and used as a residence? HELP!!!?

We Answered:

You're going to have a challenge. First you need to work on getting it zoned properly.
If you try to get strictly commercial insurance and you have a claim and they find out it was because it was being used as a residence, it may void the policy.
You will need a homeowner's policy that might have some commercial provisions in them....a 'combination' policy so to speak.
Since there are plenty of home based businesses that need a combination policy, an experienced personal lines insurance agent will be able to help you.

Terri Said:

What is the average commission to Property casualty insurance agents?

We Answered:

Varies by line. Monoline property/gl/umbrella 10%. Monoline comp 5%. Package 15%. Professional/specialty 7 1/2%.

Is the $12M size revenues or premiums? That's a crucial bit of info here. Keep in mind, there are probably contingency plans in place with many of the carriers, for favorable loss ratios.

Also, more and more larger accounts are being written on a flat fee basis, rather than commission basis. So you have to factor that in as well.

Ramon Said:

How much does an insurance agent make?

We Answered:

Actually your friend is telling the truth. Successful insurance agents who specialize in commercial insurance make at least 6 figures. Most of them do not have salaries though. The vast majority are paid on commission only. They are usually paid about 50% of the commission on new business and a smaller commission on renewals, i.e. they get residual income.

Your friend is probably interviewing for an entry level position that is providing a base salary initially and will phase out the salary after a period of time.

I hope this helps. Good Luck!

Jeanette Said:

Can my landlord charge for property tax and insurance within CAM charges on my commercial lease?

We Answered:

Yes they can. I wish they didn't. Just tell me how much my rent is. Don't surprise me with CAM charges that i have no control over and don't even know if they needed to be done.

Karl Said:

UK commercial buildings insurance ?

We Answered:

The answer will be in your tenancy agreement. Ask your solicitor to check it.

Kent Said:

Do I need a license to be a commercial property manager in Maryland, or DC, or Virginia?

We Answered:

Generally each state real estate commission hires a lawyer or two to answer these types of specific questions and I highly suggest you contact them for the sake of absolute certainty to the answer of your question. I have provided a link to their website below that has contact info.

Still, I want to compliment you on your question because since property management is often paid by a commission off of collected rent it often requires licensing (it does where I live). I read through the Maryland laws and think that if at least one member of your LLC is a licensed Realtor, you are good to go. But regardless you need to contact the ultimate authority. Good Luck