Seller Tips – Commercial Properties
When it comes to selling investment properties, whether you have one tenant or 500 units, there are many considerations to be made. We recommend that you inform your tenants that the property is for sale, you’d be surprised how many will assist you in the sales process such as access to their unit. By giving them enough time to prepare, you’ll get less resistance and a better showing for your buyer.
Please remember to have your numbers ready – investors can be quite inquisitive. Supply your representative with information about completed maintenance work, warranties, income, expenses, unit count and mix, occupancy, leasing traffic and marketing. Depending on the size and scope of your investment property, buyers may want to see everything from the rooftops to the basements, elevator
rooms, trash rooms, parking areas and HVAC systems.
Having these areas well maintained and clean will rule out any surprises during the tour, because not everyone loves surprises. Also, knowing some information about your competitive properties will always work to your advantage. Curb appeal applies mainly to residential yet still has its place in commercial. Impress your prospective buyer by sprucing up the landscaping, a fresh coat of paint and an immaculate image.
Before showing the property, your representative should walk the entire tour to ensure everything goes to plan: they have all of the keys they need, all units are up to par and everything is spotless. If you are considering selling you commercial property, please submit your property via PropertyCashin.com for assistance.