Responsibilities of Buying Commercial Property for Small Business Owners

For small business owners thinking about buying commercial property, there are a number of things to consider. Many weigh out the potential risks vs rewards and budget the costs, however, they do not consider the responsibilities of owning commercial property. If you are considering buying commercial property, here are a few of the responsibilities which you want to consider.

Property Management – Property management firms will help settle tenant disputes, maintain shared areas, respond to issues with the property (think plumbing, electricity, sewage, leaks, etc.), and keep the grounds clean and nice. But these companies can be expensive, especially for a business owner who only owns one building. So if you plan to do the property management yourself, understand that this can be a fulltime …