The property that you decide to buy or rent affects the success of your business. Whether you are investing in property and looking for commercial property for sale or renting a space for your business, instead opting for commercial property to rent, it is essential to understand the latest trends on the commercial property market.
Today, Junk Mail takes some to time to highlight our property investment tips to get you started.
Looking at Commercial Property to Rent
While buying commercial property is a good investment, there are advantages to renting. If you don’t have the capital to purchase a property, renting may be a wiser option. You can use the money that you would have used to purchase property to develop your business instead. Renting also allows you to move your business to a different property if it is necessary.
When you are looking for commercial property to rent there are a variety of factors to consider. Before you decide on a property you will need to determine how much space your business requires to run efficiently. Once you have determined the size of the property that you need, you should make a list of the facilities that you require.
Having a comprehensive idea of what you are looking for before you start reviewing properties will make your search easier. Take into account the number of parking spaces that your employees need as well as the accessibility of public transport. If you need help making a decision, you can contact a commercial property specialist.
Investing in Commercial Property for Sale
If you are a business owner, it can be a good financial decision to pay monthly rent towards your bond repayments rather than paying that money to someone else. When you are searching for an investment property, there are a variety of factors that you will need to keep in mind.
Before you start looking for commercial property for sale, you will need to determine how much money you have available to spend. You may be required to pay a deposit of up to 50% of the property value.
The advantage of investment property is that it can eliminate excess cash that is listed on your balance sheet. Check the trends in the sector that you are purchasing in. You will need to compare the retail, industrial and office sectors to see which investment properties come with the highest gains.
Also note that, when it comes to investing in property, the area that the property is located in will also impact on its worth. In some areas certain sectors do better than others so make sure that you do your research thoroughly before you buy a building.
When it comes to property investment tips, there are a variety of strategies you can implement to ensure the success of your investment. It is beneficial to set a competitive rental rate so that your property doesn’t lose money by standing empty.
Keep the property in good condition which helps to prevent your property from depreciating. An efficient asset management team can also contribute to the success of your investment.
The advantage of investment property is that it can earn more money in the long-term when compared to other investment options. It is important to take the specific conditions of your business into account if you want to buy property.
If your business is flourishing in a certain location and the property is key to further development, then purchasing the property may be advantageous. When you are determining whether you can afford to buy the property don’t forget to take repair and maintenance costs into account. Rates and insurance costs should also be reviewed.
If you are making an investment in industrial parks, retail or commercial property, you will need to consider the leases that are attached to the property. A long-term lease with a well-known company will increase the strength of your investment.
A key element to purchasing the right property is conducting research first. Review the area as well as the structure of the property before making a decision.
Commercial Property Legislation
Whether you are investing in property or looking for a commercial property to rent, it is advisable to have an understanding of South African legislation. If you are a commercial property owner, the best way to protect yourself is to have a precise lease agreement in place. By taking the time to develop a comprehensive lease agreement, you can save yourself future hassles and costs.
The Consumer Protection Act affects lease agreements and it is therefore important that you stay informed of any changes.
Now that you know more you can get started on looking for a commercial property for sale or to rent on Junk Mail. Once you have reviewed what is available on the market you can choose a property which best meets your needs. Selling your property? Post your free property ads on www.JunkMail.co.za today!