Commercial properties can be a lucrative investment opportunity if you play your cards right. If you make a wrong move, though, they can easily become a money pit, too. The difference between a good investment and a bad one might come down to a single digit’s difference in zip code or issues that are even more difficult to detect. Making wise commercial investments, like anything else, is a learned skill. There are several precautions you can take, however, that are keys to avoiding investment disasters.
Many people are so excited about starting a business that they overlook the most important details. For example, they forget to choose a business structure and file the necessary paperwork to become a legal entity.
As a commercial property landlord, it's important to understand all your responsibilities. The same holds true if you are a tenant, such as somebody who is renting office space.
Intellectual property rights can be complex, but they're incredibly important. Many businesses only thrive because they have rights to a specific piece of property that other companies cannot legally touch, giving them a tremendous edge.
There is nothing worse than a commercial lease dispute. It doesn't matter if you are the property owner, manager or tenant, you know that this has a way of costing you a lot of time and money.