Sound Advice For Buyers And Sellers In The CommericalReal Estate Market

You can never know too much when it comes to commercial real estate, so never stop

looking for ways to obtain more information!

Pest control is an important issue to look at when you rent or lease. 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.

Always check the credentials of the inspectors you hire. There are many non-accredited

people who work in such fields as insect removal. By hiring an experienced professional,

you're less likely to run into problems after you buy the property.

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 a difficult thing, regardless of the size of the

property. Generally, it's like buying in bulk. As the number of units purchased goes up, the

cost per until will go down.

Inspectors should always have credentials available for viewing, should you require their

services in your real estate dealings. Those who work in pest removal should be inspected

closely, as they are often not accredited. This can keep you from having bigger headaches

after the sale.

Emergency maintenance should always be on your need to know list. Be sure to find out who

takes care of maintenance in the building and also who handles emergency repair situations.

Have a list of phone numbers to call if you need emergency repairs, and know how much

time it usually takes for repairmen to arrive. In case a maintenance emergency should

happen, you can use the information provided to lay out an emergency business and

customer service plan to save your company's reputation in case your business is

interrupted.

It may be necessary to invest in some renovations before you can move into the space. It

could be as simple as a coat of paint or replacing some carpet. The renovation project can

get larger and could consist of knocking down, moving or building walls to make the floor

plan usable. Talk to your landlord about these improvements. Try to negotiate a deal where

the landlord pays for some, if not all, of the cost of improving your space prior to moving in.

Different commercial brokers represent different parties. Agents that work with tenants and

landlords both are called full service brokers. There are also agents that only represent

tenants. You may be helped much more with a broker who just works with the tenant, as that

person most likely has more experience in handling tenants successfully.

Before hiring any real estate broker, read all of his disclosures. Some agents work for a dual

agency. In this type of transaction, a real estate agency acts on behalf of both parties

involved in the deal. This means the agency works for the tenant and the landlord at the

same time. You and the other party should both agree if dual agency is to be okay.

As previously stated, there are various reasons to go into investing commercial real estate,

but you need a lot of extra knowledge on the subject. Just put the strategies you just learned

into practice, and your yearly returns will climb into the double digits surprisingly quickly.

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