Purchasing commercial real estate can be much different than purchasing a home. Read on for some tips and suggestions that will help you come out ahead.
Take digital photographs of the unit. Make sure your pictures clearly show any damage or defects, including carpet stains, holes in the walls or discoloration of plumbing and counter tops.
Before you sign a lease, find out about pest control. This is especially important when an area is known to have pest and rodent problems. Prior to signing a lease, ask your agent what the current pest control policies are.
When choosing a broker, investigate their years of actual commercial market experience. Make sure they are specializing in the desired area that you’re selling or buying in. When you find the right broker, make sure your agreement is exclusive.
If you have the intention of offering your commercial real estate for rent, look for buildings that are simple and solid in construction. Tenants will be attracted to these spots because they are maintained well. This type of property will also make maintenance much easier on both you and your tenant.
Look at the surrounding neighborhood before you decide on purchasing a specific commercial property. A business located in a well-to-do neighborhood might be more successful, since the potential customers will be able to spend more. If your product or service tends to appeal primarily to lower or middle class consumers, look for commercial property in a more conservative neighborhood.
In the earliest stages of negotiating your lease, it is in your best interest to ensure that only a few conditions are capable of constituting acceptable means of default. This will lessen the possibility of a lease default by your tenant. This is a bad thing, so do what you can to minimize the chance of it happening.
By now, you realize that there are many things that need due consideration if you’re going on a commercial real estate shopping spree. Use the ideas in this article to inform you as to how to approach your next commercial real estate purchase.
Business Offices for Lease in Santa Ana
1850 East 17th Street, Suite 117, Santa Ana, CA 92705, USA
Call Today: 714-543-4979 – Santa Ana Leasing Office by Atrium Property Suites