Buying Commercial Rental Properties
This is a good investment, if you know what you are doing. Checking on possible renters are a good idea that would save you a lot of problems avoiding conflicts in the future. Be sure to check your ability to finance your choice for the housing market for commercial and private home prices are so volatile you wouldn’t want to file for bankruptcy at the slightest hint of trouble with personal finances.
Contract revisions are best done on a consultation basis with your tenants so you take into account their rights and concerns. You as the owner have the authority to eject tenants who fail to pay on time but be compassionate enough to consider all factors before doing so. Work with your tenants and not against them so you build a good working relationship with them. Conflict between tenants should be addressed before it escalates so you as the owner don’t have to deal with the repercussions (property damage).