What to Do after Buying a Commercial Property

commercial-property-ukA commercial property is something that any business will want to acquire. Think about it. You cannot possibly run a business without a place to hold operations. Regardless of the size of your company, location and space matters. They are a necessity. So you’ve gotten yourself a commercial property recently. What’s next? Surely, things don’t stop after acquisition. So what else is there to do? Here’s a to-do list from Singer Vielle.

To Do Item # 1: Double check on documentation. – Even after the transactions have already occurred, deals have closed and contracts have been signed, it is still important to double check on your documentation. A commercial property is a huge investment for your business. It is a big ticket asset. You surely would want to ensure that it gets recorded properly within your financial statements. Remember that you have to record it based on historical or actual cost and not market value. At the same time be sure to have its useful life assessed at best.

To Do Item # 2: Make the necessary renovations. – You might want to revamp the whole place or at least change some features to it in order to fit your intended purpose for the property. By all means do so and keep it scheduled. This way no delays will occur and your operations go as smoothly as possible.

To Do Item # 3: Prep and dress it up. – What are you using it for? It is important to decorate the interiors in such a way that it invokes productivity for employees and brings in customers for sales. The ambiance and aura of any property can affect the tasks and dealings of people that go in it.

To Do Item # 4: Keep it ‘work appropriate’. – In relation to keeping the place aesthetically pleasing, it would be best to make it functional as well. After all it’s a place for work and where operations are held. Gather your team and brainstorm for ideas. Getting a professional may even help if you achieve this.

To Do Item # 5: Have maintenance on check. –After the purchase of a commercial property or even years after that, entrepreneurs have to see to it that proper maintenance procedures are undertaken to ensure its upkeep. The better taken cared an asset is, the longer it becomes of use to your business. Moreover, it prevents unwanted circumstances like accidents and keeps losses at bay as well.

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Residential Property Investment Tips: Better Interiors on a Budget

residential-investment-tipsNowadays, we always hear the word “budget”. As much as we wish not to, we have to because resources are limited even though we deny they aren’t. This should however not affect our creativity and diminish our productivity. We have to find a workaround and an innovative way to work with what we have and make the best out of them. The same holds true when it comes to beautifying our homes. Are you up for the challenge? If yes then the following residential property investment tips to better interiors on a budget will be of great help. Ready?

Tip # 1: Try upping the colour palette. – You can do this through many ways. One is by utilizing rugs, carpets, curtains, table runners and linen. This will instantly update and give a fresher look to any room without. Another is by using frames and artwork either stacked on shelves or hanged on walls.

Tip # 2: Use good and creative lighting. – By doing so, you are able to create just the right ambiance for every room. Of course, caution should be done when doing this because you also have to consider the tasks performed in every area. Take the kitchen for example, it has to be well lit but at the same time not too bright to avoid glare.

Tip # 3: Only buy furniture that fits. – To avoid having to waste your money on furniture and fixtures as well as other home accessories, see to it that you measure everything first. Get the correct dimensions so you won’t have to return your purchases or worse, suffer with items that won’t work in your home.

Tip # 4: Personalize your space. – This can be achieved in different ways and all it needs is a dose of creativity. You can do some DIY projects or simply frame up photos and other memorable pieces. It not only adds a unique touch but also helps immortalize memories.

Tip # 5: Use organization and dual purpose items. – To make your interiors even better, get into organizing. No one wants a messy home in the first place. Make use of furniture that provides shelving space. This way you don’t have to buy a furniture piece and a shelving unit separately.

All of the above residential property investment tips to better interiors wouldn’t break the bank. They are affordable and at the same time effective. What do you think? Which one will you try and do?

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A Checklist When Buying a Retail Property for Sale

retail-property-saleA retail property is basically a commercial asset that is used for the business of selling goods and/or services. Such can be a detached asset by itself or may be attached to similar other structures. Typical examples to this would have to be the store spaces of clothing and shoe boutiques you see at your favorite malls. The same holds true for restaurant and cafes, computer and electronics stores. To put things more clearly, think of the spaces where famous names like Debenhams, Ikea, Zara, Topshop and H&M are occupying. So if you are also a business owner and entrepreneur, buying a retail property for sale will most likely be on your to do list and necessities. On that note, you might want to check out the following items on our checklist during your acquisition phase.

LOCATION – Just like any other fixed asset, location is of utmost importance and all the more if we are talking about business. It has to be situated in an area that is easily accessible by your target market otherwise you might find a drop in sales. At the same time it also has to be in close proximity to most employees as well as suppliers.

USEFUL LIFE – You want to benefit from it as long as you can so checking on its useful life will be a necessity. Would you waste your funds on something that will only be of service for five years when you need it for twenty years? No.

PRICE TAG – It has to match your budget because you can’t afford to forget about the costing of things. Additionally it has to be equivalent and in conformity with the asset’s actual current market value.

FEATURES – Some businesses may want certain features in their properties such as a wide store front made of glass, a high ceiling, a second storey, etcetera. This will of course depend on your needs and the type of company you have.

PARKING SPACE – You want the space to be accessible and at the same time convenient. As much as close proximity to commute transportation will be beneficial, so is the presence of a designated parking space.

SECURITY – Lastly, when buying a retail property for sale, you have to ensure that it is situated in an area that is secure. This means that the crime rate is low, appropriate security teams are available and natural calamities are less likely to threaten your operations such as fire and floods.

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Expert Tricks When Buying in Property Auctions

property auctionsProperty auctions are one of the most sought after means of acquiring fixed assets in the market may they be for purposes of residence or business. Unlike the procedures of a usual sale, this entails having to bid on a property. That being said, the highest bidder gets to purchase the asset. What makes auctions charming is the fact that it is immensely possible to land and acquire something for an amount lower than its actual and current value in the marketplace. However, if one is inexperienced and does not know the right tricks then you could potentially get hurt and suffer the consequences. You do not want that and so the following expert tips could surely come in handy.

Be on your guard. – Do not be fully trusting. It is best to assume that all agents aren’t being completely truthful to you one way or another. This makes it a necessity then to check first before you actually agree. Just because a broker says that the house is in perfect condition doesn’t mean that it really is. It could be but it could be not. Check.

Withhold information to yourself. – Never divulge anything to the sellers, agents and brokers most especially with regard to the amount that you are willing to spend at the auction. Doing so will only give them the chance to quote higher than when they didn’t know about such fact.

Knowledge is power. – It is easy to say that an office building or home’s value is this and that but you can never know for sure should you only rely on words. What you can do is research, study and know how certain assets depending on size, features, age and location are priced in the market. This way, you can better judge whether the price tag being set is indeed fair or too much.

Dress like you’ve won. – This is a common way to intimidate other fellow bidders to avoid or at least minimize competing with you at an auction. It’s a simple trick but it works like a charm. Just see to it that you do not overdo it as you might get the impression that you’ve got loads of cash to give and sellers will likely start at a big amount.

Get your finances ready. – When buying at property auctions, always see to it that you have your funds sorted out and all.

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