Investing in commercial real estate can help you diversify your holdings and build your fortune. However, you need to understand the basics in order to get started. Here are some of the most frequently asked questions about where to start.
If you own several commercial properties, the odds are high that you've hired a property management company to make sure that everything is cared for appropriately. A good property management company is a great investment because it can take a lot of stress off your shoulders.
What do you do when you have a tenant that just won't pay? What if the tenant is simply one of the "those" tenants -- causing trouble and creating problems from dawn to dusk with every other tenant you have? What if the tenant is simply refusing to obey the rules you have in place regarding pets, sanitary issues and more?
If you own a small business, you know that the rent you pay on a commercial property is significant -- which means that it's important to get what you're paying for each month.
When a commercial tenant leaves under less-than-favorable circumstances (either through eviction or outright desertion in the middle of the night), a lot of their personal property can be left behind.
Finding the right space for your commercial enterprise is important -- and you may be anxious to jump on the lease as soon as possible.
There are plenty of property managers for hire out there who can handle the day-to-day issues that come with owning rental property and dealing with tenants. However, finding a good one can take a little digging.
Imagine this: You rent a sizable space for your restaurant in a nice commercial center. Business is so good that you'd eventually like to expand -- so you're thrilled to find out that the tenant next to you is moving out.
If you own a multi-unit commercial building, whether it's a plaza full of spaces or a building full of offices, beware of the exclusive use clause. Most of your tenants, if they have any experience with commercial leases, will want them. However, agreeing to broad terms could turn your rental property into a nightmare.
Rental landlords should know that there's a right way and a wrong way to evict a tenant. The wrong way is posting a 72-hour notice on someone's door after a hurricane, having their electrical power cut off and telling them that you want them out so that repairs can be made after a hurricane blew through the area.