commercial leaseLeasing a commercial property is not something new. In fact, it is a widely used practice among business entities and entrepreneurs. Although owning an asset adds to equity, it isn’t always the best option thus the demand for rental spaces.

But it is important for entrepreneurs to remember that commercial property leases come with limits. Because it isn’t under one’s name and ownership, there will be things that cannot be done or else face the risk of a breach in contract that might accelerate to a legal battle. Nobody wants that.

So to avoid the brouhaha and potential mess, read on the following do’s and don’ts to commercial property leases.

Do know your rights. Protect yourself and your business by knowing your rights. Read up the contract carefully and make sure to fully understand everything before signing it. If there are vague statements, always ask the landlord to clarify or rephrase it.

Don’t rent something that’s broken. It’s going to be costly on your part not only financially but also in terms of time. It can delay and put a halt to operations which will seriously hurt sales and profitability. Upon visit and inspection, keep an open eye and don’t be shy to test things out. You have the right to.

Do clarify the terms. For instance, does the rental payment include the utility bills? Who shoulders repairs and maintenance? It is crucial to talk this through to avoid the hassle later on.

Don’t nail on the wall. Of course unless otherwise allowed by the landlord. Most rentals won’t allow tenants to drill on the walls in which case command strips would be very useful.

Do keep a tab of all documents. This includes the contract of lease, modifications or updates to it, receipts and invoices to utility bills, repair and maintenance costs, one’s credit report and so on and so forth.

Don’t forget to document. Prior to moving in and before moving out, make sure to photograph every corner of the space. This should serve as your proof or security in case of unjust claims regarding damages.

Do pay on time. You wouldn’t want to be labeled as a bad tenant so make sure to keep your end of the bargain. If in the event that something really awful came about and a delay won’t be avoided, make sure to inform the commercial property landlord ahead of time. You’d have far more chances of getting on their good side than if you play mute.

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uk-investment-property2Without a shadow of a doubt, a UK property investment is one fine and attractive venture. With demand at a constant high and value appreciation on the go, these pieces of assets are surely lucrative. Even if purchased for personal use, they’re bound to rake in value as time goes by.

But nothing is perfect and absolute in this world. For investments to thrive and prosper, it will also take work. These properties sure won’t sell or take care of themselves, right? Plus, finding the right investment will all depend on you not the other way around. So to help you in this crucial first step, here are some pieces of advice.

Do educate yourself. Knowledge is a very potent tool. Never underestimate it. Besides, it will be hard to pick up ideas and understand information if one fails to gauge even the simplest of basics. So pick up a magazine or a book. Read articles and e-courses online or watch videos.

Don’t hesitate to ask for help. When need be, make it a point to ask for help. You’re no all in one package. Even with knowledge on your side, there will be things that you might not be able to do. Hiring a real estate agent to help find a UK investment property is only one. There’s a need for a lawyer or solicitor for legal services or a chartered surveyor to examine the assets.

Do prepare financing ahead of time. Because assets tend to be massive not only in size but also in value, it’s a given that they will cost quite an amount. Money is not an easy resource to come by. You’ll have to pool enough and this will take time.

Don’t be easily swayed. When checking out properties in the market, never take all information as is. Make sure to validate and check. Owners will want you to buy so sales stalk and a little sugarcoating will always be there. Your weapons of choice? Validations. Authenticate all the information and uncover even more pertinent details with the help of a surveyor.

Do check other options. Apart from making sure that you pick the right asset among a sea of choices, this will also help in comparing prices. How much are similar UK investment properties priced in the market?

Don’t go downhill. In other words, opt for a
that has good appreciation potential. This ensures that the asset grows in value over time. Although majority of properties in the United Kingdom appreciate, not all do and those that actually do, don’t grow as quickly or as largely together.

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UK investment property tips