Investing in commercial real estate is a great way to earn significant profits. However, it is not for everyone, because of the large stakes and investments involved.
When having your real estate inspected (as you should), always ask for the qualifications of the inspectors. Pest removal companies should be closely checked because many non-professionals do this work. This can keep you from having bigger headaches after the sale.
Try to keep your properties occupied. Having unoccupied spaces mean that you have to pay for their upkeep. If you have multiple unoccupied properties, try to determine the reasons why, and rectify the problems that are keeping tenants from renting the spaces.
Commercial Property
When you are shopping for a commercial property, be sure to confirm that you will have access to utilities. You are going to need to sign up for utility services on your commercial property, along with the ones you have at your business.
Prior to negotiating with the lease of your commercial real estate, try to decrease anything that could be a default as you can. This will greatly lessen the likelihood that the tenant might default. This is one thing you don’t want to happen.
Establish what you need before searching in commercial real estate. Make a list of the property features most important for you, such as square footage, number of offices, conference rooms, and restrooms.
Emergency maintenance should always be on your need to know list. You should ask your landlord who is in charge of handling emergency repairs. Learn the phone numbers and response times. Ask your landlord about emergency procedures to design the best plan possible to face any emergency.
Dual Agency
Ensure your legal and financial safety by thoroughly examining the disclosures of a potential real estate agent. Look for any disclosures regarding dual agency. This means the same agent will be representing the two parties. Dual agency occurs when the landlord and the tenant hire the same agent. Real estate agents must disclose any dual agency. Both the tenant and the landlord must agree to accept dual agency.
You can make a significant income from commercial investments. Make sure you have both the time and the money that is needed to give you the best chance of making a successful investment. Apply the tips you have just read next time you go deal with real estate matters.
