Tips to find Commercial Real estate for lease
If you have plans to find a commercial place to lease, there are a lot of things that should be considered. After all, you have to be there in the same business place for a relatively long time. So, it makes sense that you look at every aspect of it and then take the final decision – whether to settle your existing company or even a new one.
The foremost thing to consider is the size of the office you are checking out. If you have to meet your clients rarely, a small office space can go well. But remember, at the same time you need to think about the employee strength. If you have quite a few people working with you, go for a somewhat bigger office area. It will save you money and also require less maintenance like repairs, cleanliness, etc. On the other hand, if you experience client rush or have to arrange meetings for which you need a conference room etc, adequate space is required.
Now, that you are done with finalizing the space required, it’s time to find out, if the building has the feature you are looking for. For instance: check for the bathrooms, kitchen/pantry for your employees to have their lunch, private cabins for senior profiles, internet connection, etc. Then, you also need to check out the storage space, in order to keep the things that are not in use often.
The next most important thing to look for, while finalizing a commercial place on lease is your business. If you run a business, in which hiring employees or finding the professionals is a regular affair, its better to be somewhere in the manpower abundant market. Similarly, there are other aspects that a business carries, so make sure you think about every little thing and then take your decision.
Finally, look at the exterior of the commercial building. It must be appealing and should look inviting with a courtyard, trees, flowers, etc. Additionally, consider the parking place. A garage or a spacious parking place helps your employees or the visitors to park their vehicles. Also make sure, that people do not find any difficulty in locating your office. It should in fact be near a market area, so the employees can take time to break or relax.
Keep all these things in mind while exploring the commercial real estate market. And, be sure that you clear all your queries from the leasing agent. So as to make your search easier and settle down in a perfect commercial space.
It’s recommended to look at for a trusted and reliable property agent for it. One who has been in business for long and understands it the way you would. This is not a decision that you will keep making often so it should be taken with utmost care. Most buyers do a bit of research themselves and then look for a seasoned agent to help them next. This way it’s an amplified effort that is really beneficial.
Why Invest in Commercial Real Estate
Though, investing in any type of property is somewhat good, but spending on commercial property investment can be a better choice. In terms of financial benefits, it offers relatively more profits if compared to residential properties but for the region. However, there’s always some risk factor and it also demands higher finances to make it through. That way, it’s really important to have a rather incisive knowledge about the commercial properties in question and the advantages of investing in them.
What Is a “Commercial Property?”
Commercial properties may include:
• Retail buildings
• Office buildings
• Industrial buildings
• Apartment buildings, etc.
Why Invest in Commercial Real Estate
Income Potential: The prime reasons for investing in commercial real estate are the financial gains it offers. These properties tend to give relatively good returns on investment. Depending on the location and the type of property, the annual return of the commercial properties can be around 6% – 12% of the purchase price, which is pretty decent in long term.
Demand for Commercial Properties
The value of your property automatically multiplies when it’s in demand. Retailers, wholesalers and even businessmen are always looking for a better place for their businesses. Not doing so may affect their business adversely, so commercial properties are always in fair demand. Public eye factor actually helps the investors find the tenants as well as the buyers, without much trouble. So the market is pretty liquid in that sense.
Another reason for investing in a commercial real estate is that you enjoy professional relationships. Owners of commercial real estate are generally not individuals, but are a team or the LLCs who deal with the property as a business. As a result, the tenant and owner relationship remains professional and keeps the interaction smooth and duly courteous.
No disturbance at odd hours
Being the owner of the commercial real estate, you need not to worry about the odd hour calls. Because businesses usually work, when you work, thus you’ll not be disturbed with complaining calls during midnight. Whereas in case of residential tenants, you may get calls for repairs any hour. So no hassles as such.
Flexible Lease Terms
As compared to residential lease terms, commercial leasing is rather easy. A proper security and payment schedule is followed by the tenants. And, because a commercial property is leased to the businessmen, they are professional and have a better understanding of the commercial leasing, which augments the overall understanding factor between tenants and the owners.
Statistically there are 70% chances of appreciation in your property every time; remaining 30% chances are there for depreciation. However, commercial properties face this problem less as compared to the residential retail. But, even if there is some downfall in the commercial property value with time, it does rebound later. And beyond every factor, commercial market has good demand, so you can easily expect to get a good appreciation long term.
So investing in commercial property is a recommended and with Vancouver-1 you surely will get the right guidance to make a fruitful decision.