New-York tribune., 1910-11-06

Charles F. Noyes. of the Charles F. Noyes
Company, addressed the real estate class at
the West Side Young Mems Christian AS
sociation, No. 5lS West 57th street, last
Tuesday evening on Leasing" TT pays
handsome dividends Mr.. Noyes declared,
ito keep buildings bright and up to date"
Mr.. Noyes in part further said:
Many buildings in our charge are
painted one or twice year. Many Of them
are painted white. A foolish color scheme,
the owners say, when first the proposition
is suggested. But this color scheme which
needs replenishing once or twice year
gives cheerful, businesslike appearance,
makes renting easier and pays splendid
return on the cost The lowering of the
ground floor TO the level of the sidewalk:
the high. dry and airy basement, often used
for retail purposes; the installation of mod
ern show fronts and show windows; the
proper lighting fixtures; a little metal cell
ing here and there; the handsome wood
trim; the touch of mosaic tile at a store en-
trance-these are common sense requisites
that the well trained leasing man thinks OF
the moment building is placed in his hands
to rent. The renting agent must see be-
yond the outward appearance Of the build
ing that he has for rent; his first thought
must be, How can these premises be i'm
proved at a reasonable cost to secure the
largest possible income return for the owner
In well located store property the exper-
fenced leasing man often knows how large
store can be divided and rented to several
tenants for much more than one tenant has
been paying, and much more than any one
tenant could afford to pay. Experience is
the one great teacher in this part of the
business, and the head of the renting de-
partment of an Office, to expertly advise his
clients on these matters, must have had
long experience in the district, and must
know the business firms in that district
and the rents the various lines of business
can afford TO pay. and then arrange his
building or store to meet the demand or
the neighborhoOd, always having in mind
the necessity of securing the greatest pos
sible, yet consistent, income for his client.
81 have seen store rentals increased from
IS 600 to sl2,SOO per annum. buildings from
50, 600 to $500. lofts from $500 TO s. 400. in
districts where values were not jumping,
but simply by using common sense and
good Judgment in advising the owners to
make certain inexpensive changes which
should have been made long before; and in
every case the new tenants were more
contented and better satisfied under the
new and improved conditions than were
the old tenants, who were paying much
lower rent Our experience in this matter
is the same as that of all other well or
ganized renting Offices.
Real estate offices, Mr.. NOyes thinks,
should be run on cooperative lines, even
the office boy getting something from the
profits Along this line Mr.. Noyes said:
Personally, believe the time is not far
distant when all real estate offices doing a
business of large volume will handle their
entire organization along cooperative
lines, and permit all employees to share IN
the profits of the office, and one reason for
this is the fact that the renting men are
the men who, more than any one else, are
directly responsible for the success OF any
firm. Our office IS now organized along CO.
operative lines We believe we pay our
renting men as well as our other employees
salaries consistent with their earning ca
pacity, and in addition to this every one IN
our office, including our office boy, porters,
signmen stenographers, bookkeepers and
accountants, will receive a part of our
nrofts Under this cooperative arrange
/ rnent our rent men will receive that proper
! ton of our profits to which their services
entitle them. and payments will be made
in proportion 10 the success OF their ef-
| forts And in closing I want TO say that
believe the continued success of any real
estate office is dependent more largely on
| its renting department than any of the
other two or three departments which must
1 b4a maintained