4 Things You Must Do Before Leasing Your New Commercial Property
Index: Index: Leasing Your New Commercial Property 4 Things You Must Do Before Leasing Your New Commercial Property Research the Local Market Who Are Your Prospec ve Tenants? Review Zoning Laws Should You Upgrade Your Property with The Latest Tech? Contact Horizon Resources, Inc.
Leasing Your New Commercial Property Did you just purchase a new commercial property in North County and are ready to start leasing it? If so, congratula ons! You’ve come to the right place! Even though you may be excited about leasing your new commercial property, there are a variety of things that you must do ďŹ rst before you lease it. In this ar cle, we will share with you 4 things that you must do before leasing your new commercial real estate property.
4 Things You Must Do Before Leasing Your New Commercial Property
#1 – Research the Local Market Some of the things that you must know about the commercial rental market include: The current vacancy rate for commercial real estate nearby where your property is located. The vacancy rate for comparable proper es in the greater San Diego area. Data for what comparable proper es are leasing for in the same area. Tip – Don’t assume that just because you own a commercial property now that all other commercial proper es in San Diego lease for the same rate. Each commercial property will have different vacancy rates and costs per area so it’s important to do your research before you start leasing.
4 Things You Must Do Before #2 – Your Who Are Your Prospective Leasing New Commercial Property
Tenants?
#2 – Who Are Your Prospec ve Tenants? Once you start adver sing your commercial property, you’re going to start hearing from businesses in the local area who are interested in leasing from you. Before saying yes to a prospec ve tenant, you should request to see a copy of their financials because you want to analyze their ongoing ability to pay their lease every month. Besides analyzing your prospec ve tenants’ financials, you should also ask them if they are going to require outside signage and if foot traffic as part of their ongoing business.
4 Things You Must Do Before Leasing Your New Commercial Property
#3 – Review Zoning Laws Another thing you must do before choosing a tenant for your commercial real estate property is to review zoning laws. Checking the local zoning laws is an important step in the process of choosing a new tenant because the last thing that you want to do is lease your property to a tenant that your property isn’t zoned for since this could result in you having to pay ďŹ nes or fees.
4 Things You Must Do Before Leasing Your New Commercial Property #4 – Should You Upgrade Your Property with The Latest Tech? Is your property more than 20 years old? If so, another thing you must do before leasing to new tenants is to verify that your commercial property has the latest technology since this will make it more appealing to tenants. Some of the things that your building should include are digital wiring and USB electrical outlets in every room. You should also have the HVAC inspected because if your system is more than 20 years old, it’s me to replace it. A er all, older model HVAC systems will become more cost-prohibi ve to fix due to the Freon Phase Out.
Contact Horizon Resources, Inc. Are you planning on managing your commercial real estate property by yourself? Let us save you the me, money and hassle of self-management. Learn more about the commercial property management services we can offer you by calling us at (760) 692-5205 or click here to connect with us online. We can provide your commercial HOA with everything you need including compliance with HOA and tax laws, strategic budge ng & reserve studies, conflict resolu on and more. Our team of experts, along with technology, will secure the best-qualified tenants to ensure the highest stable income possible. Our staff will cater to each property’s specific needs to ensure excellence. We are serving our services in San Diego, Carlsbad, Poway, Escondido, San Marcos, Vista, and Oceanside.
Contact Horizon Resources, Inc. : Address: 2260 Rutherford Road, Suite 111 Carlsbad, CA 92008
Fax: (760) 692-5210 Email: HRI@HorizonResourcesInc.com
Phone: (760) 692-5205
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For a FREE Property Management Consulta on: (760) 692-5205