If you want to list your commercial property for rent, it's wise to speak with a real estate agent first to find out what you could rent your property out for and if it has optimum rental appeal. While it's likely you can rent out your commercial property even if it's not in the best condition or location, you'll get the most money out of it if you can meet much of the following criteria.
It's wise to know if your commercial property will make a great rental because you have other options if it won't, and you can also make some repairs or changes to the property to make it more rent-appealing if you still want to rent it out. Here are the criteria your commercial property should meet if you want to have commercial property for rent and profit.
An ideal location
A commercial property can be fixed up, but if its location is not great, renters will try somewhere else first before they rent your property. You need commercial property to be close to the industrial part of town and near major highways or freeways, and also be located on a large lot with plenty of parking. If you meet these criteria, then you're ready to list your commercial property for rent. If not, see if you can expand your parking lot or make your commercial property more visible where it sits before listing it.
An ideal condition
Commercial property for rent should be move-in ready for the companies that need the space, but it's okay if yours isn't entirely modern in its design, so long as all the appliances work and the fixtures are relatively upgraded. You don't want to constantly be managing repairs and upgrades to the property, and commercial property renters will want to know that they won't be constantly working with mechanical failures or electrical issues should they choose your building.
Have a commercial building inspector give you a write-up on what might need fixing or replacing in your commercial property before listing it for rent. Aesthetics can even be taken care of by any renters who want to customize the space for their own business benefit, so don't worry about appearances as much as repairs.
Your real estate agent will take a quick look at your building before listing your commercial property for rent. Rental prices will vary depending on the market demand and the condition of your commercial business at listing.Share