Thursday, 12 February 2015
Perth Commercial Property Management Requires your Full Attention
How hard can DIY Perth commercial property management be? To find out, wait until something goes horribly wrong and see if you have time for anything else. Property management expert Sharon Fox-Slater writes in Property Observer about what it takes to be a competent property manager, whether residential or commercial. Commercial versus residential: Is there a difference? There are basic differences between a commercial property and a residential one. Commercial property tenants are referred to as “lessees”. Leases generally last for years with rent amounts reviewed annually. Goods and services tax (GST) applies to the purchase price, rent received, and other expenses related to commercial properties. Lastly, maintenance costs are paid for by lessees of commercial properties, which makes net rental income higher than that of residential rent income.