Brad Zackson, the co-founder of Dynamic Star, discusses what investors need to know before investing
A commercial lease is usually a long and complicated document filled with riders and addendums that are often legal. Tenants of industrial or commercial properties are legally bound to follow the terms of their lease once they have signed it. Before committing to a lease with Brad Zackson, the tenant and the landlord must understand exactly what they are entering. Parties sign commercial lease agreements for some time that often exceeds ten or even 20 years or more.
Consequently, you must understand the implications and consequences of future noncompliance issues with the lease to protect everyone’s interests. A leasing term written equitably will protect the interests of both the landlord and the tenant. Commercial real estate agent Brad Zackson can assist you in interpreting leases, including lease options and rent increases, and offer guidance during lease negotiations.
In terms of property management, investors have two options. The first is to manage it themselves, while the second is to hire a property management company. Knowing who will manage is extremely important as it will affect the property significantly. Investing in the property requires investors to know what they need to do. Investors need to know the cost of hiring a property management company to manage the property.
Investors should calculate future income based on these costs since they can significantly reduce their profits. It is undoubtedly true that there are hidden gems in the real estate market. Brad Zackson specialises in the redevelopment of undervalued properties. The path to investing wisely starts with understanding the market.
When investors understand the market thoroughly, they should systematically scrutinise each property. Investors will be rewarded with a worthwhile investment if they follow these two steps and determine who will manage the property. An industrial lease can be confusing in figuring out who pays for what and when an expense becomes the landlord’s or tenant’s responsibility.