At this time, price fluctuations can make investing right now seem risky. Many savvy investors have their eyes on distressed properties that will likely be profitable once the economy normalizes. These investors should be cognizant of getting accurate rent rolls, which is the current register of rent for an income-producing asset. If current tenants are unable to pay the rent, how profitable will the building really be?
Current investors who are trying to lease space should consider modifying their lease terms to make their assets more attractive now. Businesses who are looking for new rental properties now are also facing uncertainty in the market. They are looking for short term lease options or the ability to sublease. To help these small businesses cut costs, Investors should partner with a Telecom Concierge, who can provide free business consulting and bill analysis to help tenants save hundreds on over-head phone and internet expenses. Additionally, savvy investors will look ahead to government assistance opportunities specifically designed to help the small businesses who rent these units.
Investors who are shopping for new properties should instead consider focusing on capital expenditures on existing properties to enhance tenant experiences, such as installing Wi-Fi-enabled security systems and keyless entry systems. This may be the time to Go Smart by upgrading your building to have automated sensors on utilities. These upgrades could enhance tenant safety as well as save investors lots of operating costs.
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