Investing in commercial property can be very lucrative if you do it right. The residential property market is going through a bit of a shakeup at the moment, especially for those looking to buy to let, so it can all seem a little confusing. Here’s some valuable advice for those looking to invest in commercial property:

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Financial rewards

Generally, commercial property offers more financial rewards than residential and is a lot less hassle. Owning large office blocks, retail buildings and warehouses means there’s lots of potential for bringing in big clients who have a lot of money. This usually means that business relations are kept professional and that their lease is paid on time, however this is not always the case. Speaking to an expert in commercial property at GVA Worldwide can help to point you in the right direction.

Retail developments

Retail developments usually make quite a safe investment, especially if they are in a popular location. A shop owner will take pride in looking after the building as the way their shop looks is paramount to their success and therefore your interests are aligned. As a landlord it’s reassuring to know the tenants will look after your investment. Another added bonus is retail properties are usually in demand so if your tenants move out, it shouldn’t be long before you manage to fill the space. A con to retail developments however is that they can be costly as they’re usually located in pricey areas.

Sociable Hours

For an easy life, letting to businesses that operate in normal working hours is advised. If a business has any problems it’s highly likely to be in the same time that you’re awake rather than in the middle of the night. Although you may have to go out to some occasional anomalies like the alarm going off.

Outsource maintenance

Outsourcing is favourable if you foresee problems arising regularly. For example, if your property is a large warehouse ensuring that the building is fully functional at all times will be paramount to a company’s success so outsourcing maintenance to a professional company will probably be beneficial to your time and attractive to potential tenants.

There are a considerable amount of risks that come with owning commercial property which residential properties don’t have, such as fires and vandalism but these are rare. On a whole investing in commercial property is a finical step in the right direction and should reap great rewards.