3rd December 2018
BUY or RENT a commercial property?
As always, there are pros and cons for each, it depends on your needs.
Personally, I have met owners who had spend hundreds or thousands making the office looking amazing, only having the owners asking for very high rental after the rental period was up.
When negotiated, the tenants decided to leave because the rental asked was way too high, it was at ransom rental rate. To make the matter worst, the owner decided to make it harder for the tenant, for not renewing, the landlord asks the tenant to tear them property down and make good to how it was before (it is in most rental contract for commercial property)! Imagine having poured in a couple of hundreds of thousand, now have to tear it all down and pay more to remove the renovations!
Personally, it is BETTER to BUY commercial property and then fix up the place to the way you like it, so that there is no worries about the landlord raising the rent or seeing the renovation pulled down again.
If you are interested to start your own business, have a look at this new listing. http://www.oracodesrealty.com/sell.html
The tenant has been there for close to 5 years now, which means, the rent was frozen, not been increased. When the renewal comes on in June 2019, the return on investment will be high, if you are thinking of investing in commercial property!
Email Stephen on email@example.com.
Licence Real Estate Agent | Stock and Station Agent| Auctioneer | Strata Manager
Oracodes Realty Pty Ltd
Licence Real Estate Agent in NSW.