Let’s not beat around the bushes and come straight to the point. In this blog, we will be sharing quick yet important nine questions that you must ask before investing in a property. Though these questions should be asked for all types of property investments, in this blog we are majorly considering the investment in commercial property.
1. Are there any existing occupants or tenants?
Any commercial property you intend to purchase probably already has a few tenants. Ask your broker for copies of the most recent leases and the rent roll. The document will help you in finding out: the lessees’ details, the dates that their leases expire, the conditions of those leases (annual rent hike), the amount of rent they must pay, and what common expenses they will share.