Several issues arise when you own real estate. There are taxes to pay and maintenance to schedule at the very least. For an estate that you have put up for lease, upkeep, security and the collection of rent may be causing your headache, which further becomes a more serious problem if they are not following the rules you have set out for them.
Know how to handle these problems without losing your professionalism.
For a commercial property, several tenants may become problematic especially if they do not mesh well with fellow tenants. You may not want to do it, but if the dispute persists, it may potentially turn the property into a hostile environment that will not benefit anyone. You may lose clients over this, and the image of the commercial property may be tainted due to unruly tenants. The solution is to try to get to the bottom of the problem without siding with one party blatantly.
You are to be neutral ground and you will need to see where the dispute started. Then, mention applicable laws so that the offending party understands the consequences of their actions. Should they continue with their behavior, go ahead and serve them a written notice mentioning what might happen to their lease agreement if they do not change.
Your problems with tenants do not end the moment they leave the premises. In some cases, you may need to run after them to collect the rent that they have not paid in full. Most rental property owners will take the high road and send letters gently reminding them to pay for their dues.
These may get ignored, however. If that is the case, you may look for a bailiff company to do the rent collection for you. They specialise in rent collection as well as other related concerns, making them knowledgeable in legal practices that will help you get the money you deserve. The same people may also help if your problem are squatters or renters who have been refusing to pay rent for quite some time now.
A responsible property owner will see to it that the commercial building is kept in good condition. Your efforts to schedule maintenance regularly without affecting anyone’s business is key to attracting not only more renters but also more clients. You want your property to reflect the state of the businesses renting a space, and you also want it to attract successful companies who will not have any problems paying the rent on time.
Their demands may be high if they pay good money for the commercial space and you would not want to be accused of neglecting their needs. Property owners often work with service providers and contractors to address issues promptly. You will also want to be in contact with professionals who can keep your property up to code so that there will be no complaints against you in terms of health and safety.
In the UK, there is good money in holding onto commercial properties. See to it that the money you get from rent is used wisely for the continued improvement of your investment.