What To Do When Your Tenant Is Not Paying For Their Commercial Real Estate
Selling real estate can seem like a really daunting task, especially in tough markets where buyers and financing is scarce. Luckily for you, real estate is an ancient market disabled dating back thousands of years. Some of the wisdom accrued over history is here in this article and sure to help you out.
If you plan on getting in a commercial real estate lease, you should be sure you have a kick-out clause, which concerns breaking the lease at an earlier date. With a kick-out clause, you have the flexibility to pay a penalty if something were to occur, instead of having to pay the entire full term lease.
Take in consideration how much time you have to spend managing your property. How many tenants are you going to be able to deal with? Having a partner or hiring an assistant might be a good idea if you can afford it. Perhaps you should start with a small investment.
Consider whether to manage your rental property on your own, or through a rental agency. On your own may be less expensive, but if there are problems in the future with unpaid rent, damages, or lawsuits, you will be glad to have someone on your side. Not to mention the inconvenience of having to find a plumber at 2am when the pipes freeze. Let someone else deal with the headaches.
if you are having issues with a renter that is not paying what they owe you, you should do your best to communicate openly with them. If they are avoiding you, they are clearly not planning on paying you. Establish a payment plan with them if possible. Take legal action if it is the only solution.
Finding commercial real estate to invest in is a daunting and time consuming process. If you do not take the time to carefully calculate the costs and fees that are involved, you may very well find that you have gotten in over your head and cannot actually afford what you have invested in.
Secure your lines of financing before you go looking for commercial real estate to buy. You will find it far easier to narrow your search when you know exactly how much capital you have to play with. This will also give you an upper hand in negotiations as you’re ready to purchase immediately.
It is important to research the companies that you could use for your commercial real estate needs. If you do not do sufficient research on a company, you may end up with a company that does not really care about you, but just what is in your wallet. Take the time to research so you have a good commercial real estate experience.
Now that you’ve gained some exposure to advice in selling real estate, both ancient and modern, you are ready to delve into moving property. Keep in mind the tips you picked up in this article and you’ll do well. Remember, land is the one commodity not being made anymore and everyone wants some.
Image taken from page 81 of ‘[Travels through the Southern Provinces of the Russian Empire in 1793 and 1794. Translated from the German [by F. W. Blagdon]. MS. notes.]’
Image by The British Library
Image taken from:
Title: "[Travels through the Southern Provinces of the Russian Empire in 1793 and 1794. Translated from the German [by F. W. Blagdon]. MS. notes.]"
Author: Pallas, Peter Simon
Contributor: BLAGDON, Francis William.
Shelfmark: "British Library HMNTS 10290.g.14."
Place of Publishing: London
Date of Publishing: 1812
Edition: Second edition.
Find this item in the British Library catalogue, ‘Explore’.
Open the page in the British Library’s itemViewer (page image 81)
Download the PDF for this book Image found on book scan 81 (NB not a pagenumber)Download the OCR-derived text for this volume: (plain text) or (json)
Find More Dating Articles