Whether you are buying or leasing a commercial property, it represents a major step for your business. Of course, many new or small businesses cannot afford to purchase real estate, but money isn’t the only factor to consider. Both options have their benefits and drawbacks, so you have to consider what your business goals are before making a decision.
Here are some of the biggest differences between leasing and buying commercial property:
Owning commercial real estate is a great way to generate income along while also obtaining many short and long-term benefits. Of course, this is only true if the building is leased and producing a profit. Letting a space remain vacant for too long is a sure way to kill your profitability. This is why you need to have a well-thought plan in place to ensure your vacancies are filled within a timely manner.
Creating the right tenant mix is essential to boosting the performance of any retail property. A bad mix of tenants will result in poor sales and a low tenant retention rate; which can affect the value of the property.
Healthy leads are an essential part of any commercial real estate business. Unfortunately, you’ll find that no matter how well you nurture and maintain your contact database, some leads will go cold for no apparent reason.
Having been in business since the 1940’s, Demetree Real Estate Services has seen its fair share of property management software. We recently adopted a new platform, called VTS, that has exceeded our expectations and made operations much smoother for us and our clients. We wanted to take a few minutes and talk about this new technology, what it means for CRE industry and how it is beneficial to us here at Demetree Real Estate Services.
Have you ever looked at a product online and then noticed that you were seeing ads for that same product all over the internet? This is called “retargeting.” Retargeting allows you to “tag” each visitor to your site and “follow” them everywhere they go online. The idea is that if someone has already visited your site once, they are more likely to convert into a lead on a future visit.
There are many ways you can increase the value of your commercial real estate. By looking at the property’s potential, as well as the historical data, it is easy to identify areas for improvement. Here are a few suggestions for how you can increase commercial property value in central Florida:
One of the biggest causes of conflict after a commercial lease is signed is the confusion of who is responsible for construction and improvements. This can be easily avoided, though, by using the proper terminology in your lease. In a lot of cases, both tenants and landlords will agree that a white box delivery is the best option for both parties.
2017 is here, which means it’s time to start marking your calendar for this year’s important events. Whether you are a broker, landlord, manager or lender, you’ll want to make sure you are keeping your ear to the ground and staying up-to-date on industry happenings.
In order to survive in the highly competitive world of commercial real estate, it may be tempting to lower your rental rates or settle for lesser quality tenants. This doesn’t have to be the case, though. Working with a leasing agent can be highly beneficial for a number of reasons.
