Tag Archives: commercial property

Confused About Where To Start With Real Estate? These Tips Will Help!

Purchasing commercial real estate requires new strategies and a different knowledge base compared to buying residential properties. The following tips will assist you in making the best commercial real estate purchases.

Before you buy or sell a commercial property, find out several key economic indicators for the region, including trends in unemployment and income, as well as major employers in the region. Properties centrally located near universities and hospitals will have a consistently higher value, and it will sell more quickly.

Pest Control

Before you consider leasing or renting, look into whether or not pest control is covered in the lease. Especially when you rent in an area known to be infested by bugs or rodents, ask your rental agent about pest control policies.

When you are picking a broker, make sure you know if they are experienced within the commercial real estate market. Make sure they are specializing in the desired area that you’re selling or buying in. Most brokers will require you to have an agreement to work exclusively with them.

The Net Operating Income, or NOI, is one metric you need to master for success in commercial real estate. Make sure you are staying in the black to be successful.

You should be certain that your asking price is a fair offer for your piece of real estate. A variety of different criteria require consideration in order to increase or decrease your property value.

Be careful to choose commercial properties that are solidly and simply constructed if you plan to use them as rental properties. These are the most likely to quickly invite tenants into the space, because they know it is well-cared for. Not are the buildings more sturdy, there will be less maintenance issues for the owner and the tenant.

Make sure you have the right access that has utilities on commercial properties. The utilities you will need for your business go beyond electricity; you will also need water, sewer and gas, as well.

Take a tour of properties you are considering. Consider going with a contractor when you are looking at places you want to buy. Put forth your initial proposals, then open the table for negotiations. Give a bit of thought to the counteroffers before deciding to accept the offer, make a counteroffer yourself or walk away.

Establish your goals and needs before you start looking at properties. You should write down the features you are looking for, such as size or settings.

Dual Agency

Scrutinize any disclosures made by a real estate agent whom you intend to hire. Remember that a dual agency could occur. Dual agency means the real estate company is representing both the seller and the buyer in a property transaction. This means the agency works for the tenant and the landlord at the same time. If there is a dual agency, everyone should be honest about it and find an agreement.

When obtaining a loan for commercial real estate, it is up to the borrower to directly request an appraisal. The bank won’t let you go back and order it later. Order it yourself to cover your bases.

If you are novice investor, you should start off with just one single type of investment. You want to only choose one property type to give your undivided attention to. It is better to do your best at one type than to be average at many types.

Check the company’s reputation for customer service before you deal with them. Otherwise, you could be in for additional money later on due to their mistakes which could have been avoided in the first place.

As you are now aware, a number of factors must bear consideration in your commercial property hunt. Embrace this article’s advice to ease the process of finding your business’s future home.

The Pros And Cons Of Buying Commercial Property

Unless you already know where to start, locating the right kind of commercial property for your new business can be hard. Take the time to read this article.

Before you consider leasing or renting, look into whether or not pest control is covered in the lease. If the area that you are renting in is known for pest infestations, it is especially important for you to talk to your rental agency about their policies for pest control.

Purchasing commercial properties is more time-consuming and complex compared to the purchase of a home. The fact is that commercial real estate brings in a higher return, therefore the process must be more intense.

When you first begin investing in properties, you may need to sacrifice a lot of your personal time. It will take time to find a lucrative opportunity, and after purchasing a property, it may need repairs or remodeling. Don’t abandon you commercial real estate venture because it currently consumes so much of your time. You will be rewarded later.

Do not hire a broker without finding out more about their past experience within commercial property. Be sure that they specialize in the area that you are buying or selling in. You should be sure to enter into an exclusive agreement with that broker.

Always ask to see the credentials of any inspectors you hire for your real estate deal. This is especially true of people who work with insect or pest removal, as there are many non-accredited people working in these fields. This will avoid bigger problems in the post-sale.

A variety of kinds of commercial property real estate brokers exist. So-called “full service” brokers represent both tenants and landlords, while there are other brokers that work exclusively with tenants. It might be most beneficial for you to hire a broker who works exclusively with tenants. A broker with that focus will be more experienced in successful dealings with tenants.

The borrower needs to order an appraisal for a commercial loan. The bank won’t accept it as valid. Order your appraisal yourself to ensure that you will be eligible for commercial loans.

Ask your broker to explain the methods he uses to negotiate deals before hiring him. Inquire into their specific credentials and training; do not be afraid to ask for references. You also want to know they are ethical in their approach to finding the best deals. Request evidence of previous negotiations, both successes and failures.

You need to realize that every property has a lifetime. If a property is well past its prime, you could end up putting a fortune into maintenance and renovations. Because of this, it’s always important to consider the prime lifetime of any property you are considering and to factor in any additional upkeep costs in determining what you are willing to pay. Properties may need expensive repairs. For example, the electrical system may be faulty or out of date, or the roof may require replacement. All buildings eventually need maintenance to maintain the quality of your investment. You will need to set aside funds for future maintenance costs.

Search Engine

Before you launch a commercial real estate business, create an online presence. These days, a website is a must as are accounts on professional networking sites like LinkedIn. You should also utilize search engine optimization techniques to boost the search rank of your website. Ideally, business associates and clients should be able to find your website just by entering your name into a search engine.

You should be aware of any environmental concerns. For example, if the property you are considering has any hazardous waste material on it, or has in the past, that can cause problems. The fact that you are responsible for causing these issues is irrelevant; a property owner is required to fix them, regardless.

Now that you have read this article, you should be more confident in your understanding of basic commercial real estate transactions. The information in this article will help you set up strategies for staying on top of all the information you need to monitor and hopefully help you avoid those costly mistakes.

Keen Advice On Commercial Real Estate

Working with commercial real estate is a difficult chore, and this collection of tips will give you ideas on how to get started. This article is exactly the kind of collection of commercial real estate tips that can help someone who is willing to learn. Following the advice within can quickly turn a novice into a professional.

Prior to making a large investment on a property, look at the local income, unemployment rates, and contraction of the local employers. Having a house located near a hospital, business sector, university or other school will greatly increase your home’s value, and provide you with a better chance for quickly selling it.

Real Estate

If you want to learn a lot about real estate, check out several websites that offer a lot of information to both experienced and new real estate investors. It’s not possible to be too knowledgeable, so keep researching new investing strategies.

Commercial real estate is more time consuming, confusing and involves more than just buying a home. You should understand that although this is a huge undertaking, when all is said and done you will receive a big return on the investment.

Pay for professional inspections of your commercial property before you put it on the market. If they find anything wrong with the property, you should have it fixed immediately.

When you are selling a commercial property, always make sure to include all buyers; this includes local and non-local buyers. Most individuals make the error of thinking that only the people in their area are the ones interested in purchasing their property. Many private investors find it appealing to purchase properties that are affordably priced outside of their direct area.

Before making a commitment, you should request tours of any potential properties. As you tour each property, you should bring along an experienced contractor who can offer helpful input. You can then make an initial offer and begin the bargaining phase. Consider counteroffers carefully prior to responding.

If you are hunting among multiple properties, make a checklist for touring sites. Make sure to advise the property owners when you want to take the next step past the first proposal responses. Consider allowing it to slip out that you are also looking at other properties. Telling the property owner that he has competition for your money might inspire him to offer a better price to encourage you to buy from him.

It’s hoped that the information in the preceding paragraphs are more than plentiful in getting you started in your commercial real estate dealings. Keep these tips in mind and you hone your skills and become successful at both buying and selling commercial property.

Tips To Help You Make The Most Out Of Your Real Estate Venture

Dealing with the commercial real estate business can be overwhelming and stressful for beginners as well as those who have already been through it before. In the below article, you’ll receive lots of knowledge to assist you in purchasing commercial real estate, so that you can reduce your stress.

Whether buying or selling, negotiate. See to it that your concerns are heard and all you want is a fair price when it comes to the property.

Examine socioeconomic conditions in the neighborhood you’re thinking of purchasing commercial real estate in. Pay special attention to the unemployment rate, and the average income level in your property’s neighborhood. Your house will sell more quickly and at a higher value if it is near a university, hospital or any large employment center.

Real Estate

Websites with abundant real estate investment information are worthwhile references for novices and experienced investors. Learning more about real estate will always benefit you, and you can never learn enough.

The location of the property is the most important factor to consider when investing in commercial real estate. When investing in a property, consider what type of neighborhood it is located in. Compare the growth of the property’s neighborhood to similar neighborhoods around the country. If you make an investment in real estate, it is in your best interest to ensure that your property is in an area that will still be growing in five to ten years.

Buying commercial property takes more time, and the process is far more labyrinthine, than buying a house. However, all of this is required because it facilitates higher returns on your investments.

If your real estate deal includes inspections (and it always should), make sure to ask to see the credentials of all of the inspectors. There are many non-accredited people who work in such fields as insect removal. Reviewing credentials will help you prevent major issues after you make the purchase.

Aim to avoid default before you sign a real estate lease. If you are thorough, you are less likely to experience a tenant default. That is not a situation you would want to encounter.

Smaller Issues

A letter of intent should be simple to begin with, covering only the larger issues. Once an agreement on those terms are made, you can begin addressing the smaller issues. The initial negotiations will be less tense and the smaller issues will seem less important later.

Commercial real estate agents specialize in working with different types of clients. Real estate agents will work with landlords and tenants, but there are also some that only work with tenants. Brokers who work only with tenants have more experience with representing them well.

Make sure you try to read any disclosures for your agent. Keep an eye out for dual agencies. With a dual agency, you have the real estate broker working on each side of the transaction. Dual agency occurs when the landlord and the tenant hire the same agent. Whenever dual agency is part of a transaction, it must be disclosed to both parties of the transaction. Both sides must also agree to the dual agency.

Research the company and find out if they care about their customers’ best interests before you commit to working with them. If you don’t do this, you might get taken advantage of or wind up paying much more money over time.

Looking for commercial property can be overwhelming and stressful for those who are new and those that are experienced. The tips you just read can help lower your stress while searching for property. Hopefully, following them will allow you to enjoy the search.

Tips To Make Your Home Buying Experience Easier

TIP! When you are looking to purchase a new house, think about your long term picture. You may not have any kids at this point in your life but if you plan to live in the home that you are buying now, you may want to look into the schools in the area to be sure that they will do well for any future children you may have.

Like most things in life, before you attempt to do something, you need to be educated about it, and that pertains to real estate buying too. Knowledge really is power and will give you the strength and ability to make wise decisions for you and your loved ones for the rest of your life. This article is here to guide you in your real estate transactions.

TIP! Be flexible in making decisions. While you might not get the perfect house in the community of your choice, you may be able to find something that works for you.

Be moderate in your approach when considering a purchase of real estate property. The worst thing to do is be aggressive with the price. It is good to be assertive with what you expect, though allow your lawyer and Realtor take care of the negotiations, because they have a lot of experience in this type of work.

TIP! A good tip to use when shopping for a home is to request an itemized checklist from your Realtor. Many Realtors will have a checklist that will cover every aspect of buying a home; from finding the right house that is in your budget to finalizing the mortgage.

Make sure to contact people you helped to buy a house every holiday, and on anniversaries of their first day in the house. Sending them a message is a great reminder for how much you helped them with their home purchase experience. Let them know that you make your income from referrals, and ask them if they could kind mention your name to people they know.

TIP! If you have your eye on a home, you know what the seller wants for it but what you actually offer is something else entirely. If you are clear and honest in negotiations with the seller, you are more likely to reach an agreement you can both accept with a smile.

When you have kids, or are planning to start a family in the future, make sure you buy a home that can accommodate everyone. Review the house for safety concerns as well, especially if the backyard has a pool or the home has stairs indoors or outside. Houses that have been home to children will ensure that it is safe for future families to enjoy as well.

Commercial Property

TIP! Before considering a property, you should perform a search for registered sex offenders in the neighborhood and surrounding areas. Even though data on sex offenders is publicly available, don’t be so sure that real estate agents and home sellers will feel obligated to give this information to potential buyers.

If you are seeking to buy a pricey piece of commercial property, look for a business partner you can trust and can easily work with. It will facilitate the qualification process for the commercial property loan. This partner can also help out with the needed down payment and even a higher credit score in order to qualify for the loan.

TIP! Before buying a home, get an inspector to examine it. Buying a house that requires renovations is a decision that can cost you a lot of money if you don’t know what you are getting into.

Always remember to be flexible in your choices. Sometimes you must choose between two major features if the price of having both falls outside of your price range. If you can’t find the house you want in the location you desire, look for that type of layout in an alternate location or vice versa.

TIP! Buy a house with more than one fireplace only if your climate necessitates it. Keeping up with fireplaces can be a pain, especially if you won’t be using them.

Get a checklist from your Realtor. A good Realtor will be able to give you a list that covers the different steps of a transaction, from finding a home to getting approved for your mortgage. Such a document is a great way to ensure that all details of the transaction are addressed.

TIP! You’ve finally decided to buy a house, but now you have to find a reputable real estate agent. Certainly, you want one that is trustworthy.

Make sure you fully understand the terms of your mortgage loan. To keep confusion to a minimum, you should have a solid grasp of how the term of your loan will affect the amount you pay each month and its impact on the amount of interest you will ultimately pay.

Real Estate

TIP! Before you run out and purchase a property simply because you like the way it looks, you should first stand back and examine the home as a whole. The main thing that you should look at is how solid the house is.

You will thank yourself in the future by about the time you invested here to gain proper knowledge about purchasing real estate. Without having any knowledge yourself, an agent may only offer so much. The final decisions must be made by you. With these tips you can more confidently approach the real estate game.

Get Into Commercial Real Estate With This Advice

If you are considering a commercial real estate investment, you’ll need to know what type of property will meet your needs. It’s important to carefully consider all your options, because investing in the wrong type can end up costing you more than you intended to pay. Keep reading for a handful of ideas and advice for making more informed commercial real estate decisions.

Never be afraid to negotiate, no matter which side of the table you are on. Let people know what you want and make sure you are asking for a realistic price.

You should take digital photos of the condition. In the “before” photos, especially, make sure that the pictures clearly show defects such as stains on the carpet, discolorations in the tub and sink, and holes in the walls.

Pest Control

Pest control is a very important issue that you need to be aware of when renting or leasing. This is important in less desirable locations where rodents and/or bugs are an issue. Have your rental agent inform you of any associated policies for pest control.

When choosing between two similar commercial properties, think large scale. It’s just as difficult to obtain adequate financing for a 10 unit apartment complex as it is for a 20 unit building. Generally, this is much like the principle of buying in bulk; the more units you buy, the lower the price per unit.

When choosing a broker, ask about their experience specifically in the commercial real estate market. Look for brokers who specialize in commercial real estate. Most brokers will require you to have an agreement to work exclusively with them.

Net Operating Income, or NOI, is one of the most important metrics used in commercial real estate. You must understand what it means, and how it’s used. Success is about staying in the green.

Double-check that you are seeking a realistic amount of money for your property. Market conditions can vary greatly; therefore, an appraisal may not be the best indicator of true market value.

Check out where the utility hook-ups are on any commercial property. Water and sewer access will be needed in addition to electricity. You may want the option to use natural gas, as well.

Aim to avoid default before you sign a real estate lease. This will lessen the possibility of a lease default by your tenant. This is something you want to avoid.

Dual Agency

Read the disclosures when you’re ready to hire a real estate agent. Be aware of the possibility of dual agency. In a dual agency the Realtor represents both parties of the transaction. In other words, an agency simultaneously provides services to both the landlord and tenant. If dual agency is the case, it should be out in the open and both the landlord and the tenant should be in agreement with the arrangement.

Borrowers are required to order the appraisal in commercial loans. Banks do not allow the appraisal to be used at a later time. Order it yourself to cover your bases.

If you are just getting started investing, focus on just one category of investments. Begin by selecting which type of commercial buildings you would most like to purchase and then devote all of your time to those types of properties. If you try to divide your attention very much, you will not excel in any area.

Customer Service

Check the company’s reputation for customer service before you deal with them. Bad customer service can cost you a fortune when dealing with commercial property, so do your homework.

You should meet with a tax adviser before you buy anything. Not only can your tax adviser help you determine the total cost of your potential investment, but he can provide you information about the taxes on your investment and advise you about deductions you may be entitled to. Try to find a location that does not have high taxes, you can consult with an adviser for more information.

In conclusion, it should be apparent that commercial property investments have the potential to be profitable. To be successful in commercial real estate means you need to do a lot of research, have some skills, and even be a tiny bit lucky. Of course, not everyone who enters the commercial real estate market will strike it big, but if you do your homework and adhere to the advice of this article, you have a pretty good shot.

How To Become Successful In Commercial Real Estate

Getting your start in commercial real estate isn’t as complicated as you might think it is. You just have to know what to do when it comes to real estate. When you know what smart moves to make, you know what you need to do to succeed. Read this article to find out more about common tricks and mistakes you should avoid to become a successful investor.

Regardless of whether or not you are the seller or the buyer, negotiate! You should make sure that they hear you and you get the fairest price for your property.

Make sure that you invest some time researching local income levels and other factors, such as unemployment rates or local employers plans for expanding or contracting their businesses before you invest a large amount of funds into real estate. Think about what locations are near where you are thinking of buying. Hot spots are usually around places like hospitals or universities because the surrounding neighborhood is going to be more lively and open with jobs available.

As you look for opportunities on the commercial real estate market, you should always be patient and rational. Don’t rush to make an investment. You are at risk of making poor decisions when rushing into things, and if your property investment does not work out, you will regret it. Realize that it can sometimes take at least one year for the proper investment opportunity to present itself.

If you have to choose between two different properties, consider the benefits of opting for the larger amount of space. Regardless of which way you choose, coming up with the capital is a common factor, so often times it will be be worth digging a little bit deeper to get the larger property in order to maximize your long-term profits. Generally, it’s like buying in bulk; the more you buy, the less each unit is.

You should learn how to calculate the (NOI) Net Operating Income of your commercial property. To succeed, have positive numbers.

Always keep tenants, otherwise, your commercial property will end up costing you money instead of making you money. If no one is paying you rent, you’ll be the one footing the bills. If you have more than one property without someone in it, think about why that is, and fix any problems that might be occurring.

Make sure you have the right access that has utilities on commercial properties. Your business has its own utility needs, but you are most likely going to need water, sewer, electric and possibly even gas.

Smaller Issues

In writing letters of intent, focus on major issues to begin with. Many smaller issues will fall in line on their own with this approach. If not, you can work them out later. The initial negotiations will be less tense and the smaller issues will seem less important later.

As you already no doubt know, smart commercial real estate investing takes time and research. The advice you have learned in this article will help you succeed in commercial real estate.

Commercial Property: Tricks Of The Trade

Both novice and veteran investors in commercial real estate can find the market complex and stressful. By researching and reading this article, it will allow you to feel less stress associated with the commercial real estate journey.

Prior to investing massive sums of money in a property, take a hard look at community income averages, as well as employment rates, and how much hiring and firing nearby businesses are doing. Homes that are located near schools, hospitals and other major employers are assigned a higher resale value.

Pay attention to the location of a property. Take the neighborhood of the property into consideration. Check out the growth, both economically and physically, in the areas you’re considering. You’re not only thinking about the here and now; you want to look a decade down the line too. Pick an area with the potential for sustainable growth.

Take note that commercial transactions take more time, they are complex and they take more involvement than home purchases are. If you want things made easier, you might want to change what you’re getting yourself into. The added time and effort are crucial, however, to getting the return that you want on your investment.

Unit Apartment Complex

Think larger when you’re thinking about two commercial properties that are viable. Obtaining adequate financing is a major undertaking, whether you opt for a ten-unit apartment complex or a twenty-unit apartment complex. Generally, this is the same situation as if you were buying something in bulk, the more you buy the cheaper the price of each unit.

Ask any potential broker about what experience they have had with commercial property before choosing someone to represent your interests. Make certain that they have experience and expertise in the community you are dealing in. At that point, you might want to consider entering into an exclusive listing with that agent.

Educate yourself on the meaning of net operating income (NOI), a term associated with commercial real estate used for investment purposes. To be successful, you must stay profitable.

Research local prices similar properties have sold for before setting a price for your commercial real estate. Many different factors can influence the real worth of your property.

Take a tour of a property you might purchase. When looking at a property that you are thinking of purchasing, it’s a good idea to have a licensed contractor accompany you. Begin negotiating and the process of offers and counter offers. Carefully look over any counteroffers you receive before you make your final choice, whatever that may be.

The search for commercial real estate can be difficult and frustrating, no matter how experienced you are. In this article, you will find plenty of tips and tricks to give you an enjoyable and easy search for the commercial property you need.

How To Maximize Your Profit When Investing In Commercial Real Estate

Having to deal with the commercial property business can be stressful and overwhelming for those new to it and even to those experienced with it. The advice of the following article will guide you through the often confusing and complicated world of commercial real estate, and hopefully see you better prepared for succeeding in it.

When entering the commercial real estate market, patience is perhaps your best ally. Don’t make any hasty investment decisions. The property you buy in a hurry might not deliver what you need to reach your goals, leaving you to regret the purchase afterward. It could take as long as a year to find the right investment in your market.

If you have two commercial properties on your short list, you should buy the larger one, if at all possible. Getting the financing you need is going to be complicated whether you choose a five-unit building or a fifty-unit building. However, buying several units will cause the price of an individual unit to decrease.

You should be certain that your asking price is a fair offer for your piece of real estate. Different variables can have an impact of the value of a lot.

Always ask to see the credentials of any inspectors you hire for your real estate deal. This is especially true of people who work with insect or pest removal, as there are many non-accredited people working in these fields. This can help you avoid headaches after the sale.

Occupation is the key when you purchase commercial properties for rent. Having unoccupied spaces mean that you have to pay for their upkeep. If you discover that you have multiple properties that are unoccupied, you should attempt to ascertain the underlying reason. Further action may be required on your part to avoid scaring off potential tenants.

Check into having an inspector look through your property before you put that property back on the market. If they should discover even a single issue with the property, repair or resolve it immediately.

Advertise your property for sale locally and outside your region. Many make a mistake in assuming that the only people who want to buy their commercial real estate property are those who are local buyers. There are many private investors who will buy affordable priced property in any area.

Do a walk-through and close evaluation of each property you are considering. Consider taking a professional contractor along with you as you look over the properties that you consider buying. Start the negotiations, and make the necessary preliminary proposals. Evaluate counteroffers against the information you collected on your tours, and use that information to justify your own counteroffers.

You will need to know what you are looking for in a commercial property prior to beginning your search. Features like square footage or restrooms should be predetermined to make the process easier.

Emergency repairs should be a high priority on your list. Get a list of emergency maintenance contacts from your landlord. Have their phone number handy and know how long it will take them to arrive in an emergency. Use any advice you can gather from a landlord to protect your customers with properly configured emergency plans.

Consider any tax deductions you might get from your commercial real estate investment. As an investor, you might receive interest deductions as well as depreciation benefits. “Phantom income” is a taxed income, but not income received as cash. You need to know this kind of income prior to investing.

Even the most advanced commercial property hunter can be challenged when looking for a new investment. Hopefully by using the pointers in this article, you can find ways to ease the pressure of this unique market as you seek the ideal property.

Entering The Commercial Real Estate Market

Choosing to enter the business of commercial real estate investment is a big decision with many possible outcomes. If so, you may have many questions about the process of acquiring property. This article was written to help get the process moving in the right direction, so check out the following tips and soon enough you will be ready to make that first deal.

You should negotiate if you are the seller or the buyer. Make certain that your voice is heard, and do what it takes to find a fair property price.

Pest Control

Pest control is a very important issue that you need to be aware of when renting or leasing. This is important in less desirable locations where rodents and/or bugs are an issue. Have your rental agent inform you of any associated policies for pest control.

Your investment might be very time consuming at first. Finding a good opportunity, going through the transaction and making any necessary repairs to the property takes time. Don’t abandon your investments because they are eating into your personal time. Stick with it and you’ll be rewarded.

If you intend on putting your commercial property on the rental market, find a simple, but solidly constructed building. Tenants are more likely to move in when they know the property is well taken care of. Not are the buildings more sturdy, there will be less maintenance issues for the owner and the tenant.

If you are renting out your property, be sure that they are always occupied. Maintenance and upkeep costs for commercial property can be substantial and rental income is essential for paying those costs. If you have multiple properties available, you need to figure out what the reason is behind this, and address anything that is causing tenants to look elsewhere.

Make sure you have the right access that has utilities on commercial properties. Your particular business might need additional services, such as cable, but at the minimum there should probably be sewer, water, phone, electric and gas.

Less Wealthy

One of the biggest considerations in the process of attaining commercial property is to know the neighborhood of each and every prospective location. For example, if you’re offering high-priced goods or services, you might want to purchase property in wealthier areas where people are likely to be able to afford to buy from you. However, if you’re offering services that less wealthy people may be more interested in, you probably want to purchase property in a less wealthy area.

You need to know the details of emergency maintenance procedures. Ask your landlord who is in charge emergency maintenance requests for the building. Keep the contact numbers handy, and ask them in advance what their response time is. Utilize the information given by your landlord to develop a plan for emergencies. This will help you ensure your reputation or customer service is not tarnished while your business is disrupted.

Dual Agency

Carefully peruse the disclosure statements issued by the real estate agency you intend to hire. Understand the meaning of dual agency. When dual agency exists, the agency advocates for both parties in the transaction. This will mean that the agency will work with the landlord and tenant simultaneously. Dual agency should be disclosed and both parties should agree to it.

Now, that you’ve read this article, you should feel much better equipped to enter the commercial real estate market. You thought that you were ready before, well look at you, now! Hopefully, the advice in this article will help you begin your adventure in commercial real estate in the direction of success.