A commercial building can be an attractive investment for anyone who wants long-term returns. As a general rule, commercial tenants tend to stay in their locations for several years at a time. Therefore, you don’t have to worry about vacancies or not collecting rent checks on a regular basis. However, there are issues to consider when selecting the commercial property that meets your needs.
Is the Building Currently Occupied?
Just like you want to buy a house that has paying tenants, buying a commercial building that is already occupied is ideal. This is because you will start earning a return on your investment immediately. It may also be possible to renegotiate the terms of the lease if you think that you can get more money.
In many cases, corporate tenants can justify paying more per month, and this may be especially true if they were paying a below-market rate in … Read the rest