Investing in commercial property can be a lucrative and rewarding experience, but it is important to know how to maintain your property to ensure it remains profitable.
Here, our Chartered Surveyors outline some key tips to help you maximise your commercial property investment.
- Keep your property in good condition
It goes without saying that it is essential to keep your property in good condition. Regularly checking the condition of your property and making necessary repairs as soon as they are identified can help to ensure that your investment remains valuable and attractive to potential tenants. It may help to put together a Planned Preventative Maintenance programme so you can plan and budget for any works required.
- Invest in energy efficiency
Making your property more energy efficient can help to reduce your energy bills and make it more attractive to potential tenants. Installing energy-efficient lighting, insulation and energy-efficient windows and doors can help to save money in the long run and ensure your property remains competitive.
- Stay up to date with market trends
It is important to stay up to date with changing market trends. Keeping up with the latest changes in the property market can help you to make informed decisions about your investment and ensure that your property remains competitive.
- Be mindful of regulations
It is important to be aware of regulations when it comes to owning a commercial property. Understanding your responsibilities as a landlord can help to prevent disputes with tenants and ensure that your property is compliant.
- Seek professional advice
Professional advice can go a long way to protecting your interests. For example, seeking the advice of a Commercial Property Lawyer can ensure that you have a lease in place that protects your investment sufficiently. A Chartered Surveyor can help to ensure that your property remains well maintained as new tenants come and go. Advice from a Chartered Surveyor can involve periodic property inspections, Schedules of Condition and Dilapidations schedules, advice and negotiation.
Lea Hough Chartered Surveyors can provide expert advice and guidance to help you make the most of your investment and ensure that your property remains profitable. Please get in touch to discuss our services.
