Factors to Consider When Looking at Commercial Properties for Rent
Commercial Real Estate for rent Commercial property rates are going high as the need of it is increasing, in such case we need to rent commercial real estate for our business. When you are looking at commercial properties for rent, there are several factors to consider that can help you narrow down your choice and figure out what is best for you.
1. Neighborhood
ď‚´ Where is the property located? The neighborhood and location attract a certain type of tenant. This also influences your vacancy rate.
2. Property Taxes
ď‚´ Property taxes vary a lot by location. Properties with high rents often may have high property taxes as well. ď‚´ You can figure out potential tax costs by contacting the assessment office of the local municipality to review the tax information available in that area. You can also see how taxes have changed over time.
3. Schools
As you look at commercial real estate property for rent, think about schools and other family-related aspects. Many small business owners prefer to have their businesses to be close to their homes. Good schools typically indicate higher quality areas and thus, higher rents as well.
4. Crime
ď‚´ Does the area have a lot of crime? You can pull up data from Google searches as well as contacting the local police and community records.Â
5. Job Market
By far this is the most important factor other than location and neighborhoods in affecting the value of commercial properties for rent. A location with a lot of employment has better tenants typically. It also leads to lower vacancy rates.
6. Amenities ď‚´ What type of amenities are nearby? Is there public transportation? Are there retail shops and grocery stores? What other perks are available nearby that would attract the kind of business tenants that you want?
7. Construction
ď‚´ Is there construction nearby or on the property itself? How will this affect your rentals?
8. Listings and Vacancies How many listings are available? Is there a high number of vacancies? If there are a lot of vacancies, it could be a one-item occurrence, seasonal, or proof that the area is declining in value. If the area has consistently low occupancy, you may want to look elsewhere.
9. Rent Costs
ď‚´ How much does the rent cost for the property in question? Are you able to charge a fair amount? ď‚´ The rent will need to cover the mortgage payment, taxes, and other fees. Make sure that the property you choose is profitable for you over the long term.
10. Natural Disasters
What is the area like? Does it have natural disasters or climate concerns? Be prepared. You will need appropriate insurance in place. When you are looking at a commercial property for rent in San Diego, you benefit from a stable climate and a region that is not prone to earthquakes, hurricanes, snowstorms, or flash flooding like many areas of the country. Choose your investments wisely.
Conclusion  Finally, keep in mind that your goal in purchasing commercial real estate for rent is to have a regular income you can count on.  Avoid getting attached to any property’s appearance or specific amenities or even affordable costs. Make sure that you think these factors through so you make sound decisions in your purchase.
Horizon Resources Inc. Horizon Resources, Inc. is one of the leading property management company expertize in property management, HOA management, commercial property for sales and leasing, tenant improvements, property maintenance and tenant representation. We can provide your commercial HOA with everything you need including compliance with HOA and tax laws, strategic budgeting & reserve studies, conflict resolution 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.
Phone: (760) 692-5205 Address: 2260 Rutherford Road, Suite 111 Carlsbad, CA 92008
Fax: (760) 692-5210 Email: HRI@HorizonResourcesInc.com
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