Saturday, 12 September 2015
Commercial property investing, especially in a bustling city like Perth, can be a rewarding experience. There’s always someone new lining up to get a piece of the action. Yet with the many opportunities that come along with investing in commercial properties, it’s a wonder why some investors would rather stay away from it. Succeeding in this field entails overcoming a few misconceptions. It’s Too Risky Some investors are held back by the fear that they won’t make a substantial profit. That is a valid concern, but with the right preparations, you can manage risks to a reasonable degree and emerge profitable. Among other things, identify which business needs you can fill in your chosen target market so you can find a suitable property and avoid gambling your capital away.
Friday, 11 September 2015
You’ve finally made it, and now you’re ready to move up the ladder, venture out into the real world of business. Your home-based office in Perth served you well in the past, but now that you have realised the need to expand, your converted space may no longer prove practical. You will soon need to move out of your home and identify commercial real estate that will serve as your official base of operations in Perth. That might prove easier said than done, however, so to help you with the big move, here are a few tips to consider.
Thursday, 10 September 2015
It’s great to be the boss, and a landlord at that. Yet with the perks of commercial property investment in a major city like Perth come certain responsibilities that you, as the landlord, need to fulfil. You also have tasks such as tenant screening, rent collection, maintenance, and so much more to accomplish. Fortunately, you don’t have to do it all on your own. With the right strategy, you can meet all your obligations as a landlord without giving up your day job. Here are some helpful management tips to consider.
Wednesday, 9 September 2015
Location, location, location: the classic phrase that significantly influences the success of every Perth business, no matter the form, the size, or the industry. Aside from location, these key decision points warrant your every consideration when choosing which commercial real estate to acquire. Competition The more competition there is in a particular location, the more price-sensitive customers tend to become. With so many alternatives offered to consumers, you’ll have to adjust your pricing closer to the local average to gain a good share of the market (without necessarily curtailing your profits). You must also consider how established your competitors are so you can modify your offerings or marketing strategy accordingly.
Tuesday, 8 September 2015
Many businesses in Perth need to rent or lease commercial property storage units for a variety of reasons. Some may require them during expansion when they’re temporarily overstocked, some take advantage of the short-term lease as they’re relocating or renovating, whilst others simply want more floor space for office work. Meanwhile, some online retailers need to lease product warehouses for order fulfilment. If you own a self-storage facility, there are things you must consider before serving the commercial market. Business looks promising if your facility is located near a commercial or industrial area. Even if you’re surrounded by residences and there are no business parks within a 5 to 10 mile radius, you can still offer storage for schools, small business owners, and housing contractors within your vicinity.
Sunday, 6 September 2015
Do you need to set your industrial property for sale now and liquidate ASAP? Is it taking you too long to find a buyer who will agree to a decent price? Every year, many property owners in Perth choose to sell their assets through public auctions. In addition, auctions can also help owners get better deals for their properties—sometimes even higher than the reserve prices—through competitive bidding. In spite of the benefits it offers, however, auctioning can be overwhelming for sellers. If you are looking to put your property on auction, these tips will prove indispensable. Tip no. 1: Be sensible. In many instances, the only factor that keeps a property from selling is the cost. Even if the property market looks promising, be realistic about your reserve price and ensure it is in line with your property’s assessed value and the market’s current state.
Sunday, 26 July 2015
Tenants, on the other hand, have a duty to manage the rest of the remodels or repairs. You can also require tenants to inform you, within a certain timeframe, about any damages they spot in the building or whenever they wish to undertake any renovation works. The important thing is to make sure the rights and responsibilities of every party involved are outlined in the lease agreement. Commercial properties for lease can be lucrative additions to your existing stable of assets. You may find out before long, however, that keeping such a property profitable may prove taxing in terms of both your time and resources. Fortunately, you can trust a property specialist such as Brett Halvorson & Associates to oversee day-to-day property management tasks and manage tenant relationships on your behalf.