Brian Fielding, an expert mind in the world of commercial real estate, has long supported investors in their considerations of commercial real estate purchases. Whether an individual is investing in a commercial space for their own company, to rent out to tenants, or to fit both purposes, there are a number of advantages to owning such a property. However, there are also many responsibilities, especially in situations where there are tenants involved. For those who have made a real estate purchase, or who are looking at a possible property to invest in, Mr. Fielding would like to offer some advice on steps that every real estate investor must consider after making a purchase.
- Make time to meet with tenants: Brian Fielding knows that when an owner takes the time to visit with his or her tenants, he or she will experience a number of advantages. Staying in contact with these clients will allow the owner to stay up to date on what kinds of changes the company plans to make. A company’s business plans may very well change what they need in their space. An owner should speak with these tenants on a regular basis to be certain they can find ways to meet new needs such as a smaller or larger space for a tenant’s operations.
- Look for zoning changes: In some cases, a zoning change will extend the allowable uses for a piece of commercial property, but in other cases, it will limit it. These zoning laws may become a problem for those who are trying to fill a vacant space, as a zoning law chance may change the pool possible clients. Whenever a property owner is trying to lease a space, they must make sure there have been no changes to the zoning laws of their property.
- Conduct annual repairs and maintenance: Each and every building will need regular repairs, and systems such as the sprinklers and air conditioning units need to be regularly managed. Brian Fielding reminds investors that when they are making commercial real estate purchases, they must keep the cost of these in mind. As owners, they must additionally take the time to make sure that these repairs and updates are done. While it is still early in the year, owners should make their plans and consider when annual fixes will be performed.
Brian Fielding believes that those who make commercial real estate purchases should also be sure that they are maintaining their properties correctly. This advice will help owners take the reins and manage their properties well this coming year to make sure that they can continue to see their investment be prosperous. For more information on commercial real estate investing visit www.brianfielding.com/.Read More