Investing in the commercial property gives you a good return on investment and the most lucrative opportunity for the real estate investors as they purchase the commercial properties and put them on rent. Whereas the question is how they can evaluate the rental value of the property? For this commercial property valuation is needed. And obviously, you want the best property valuation figures for your property which gives you a good rental value.
Know how you can increase the value to your commercial property and get good returns –
Make property aesthetically strong – Improve your property is a wise way to attract the tenants. The small amendments to renovate the property like – change in flooring, painting the interior and exterior, installing or improving the heating or cooling system, extending the shop sizes by using the wasted area you had and these types of renovation won’t cost you much and after this you can ask for the tenants for higher rent as you are providing the good working space.
Big renovation like the structural improvement or constructing the new building on the place of an old and deteriorated one brings huge involvement of the money and time. But if you are sure to get good returns on this investment they surely you should go for it.
Example – Constructing a new property (with offices and shops) in place of old warehouse which is located in the commercial area is the right decision which can helps you to generate more income in a better way, as the sales value has increased after renovation. In these matters, you can take the suggestion of the commercial property valuers Brisbane as they possess good market knowledge.
If you give old, shabby, uncleaned, unattractive building then tenants pay less for those buildings and on the contrary, if you offer a fresh, attractive, organised and well-maintained building then tenants are ready to pay high rents also.
Keep the rental price as per the market – To be in the real estate world and make profits, you should know about the current market trends and condition. Keep the rental price of the property as per the market. The too high in rental value will keep potential tenant away from you. Also, this can make your property vacant and empty for a long time leads to a decrease in property value. Whereas the too low rental value won’t match the profits you had desired of. Ask the real estate property valuer and fix the rent that works well.
Add amenities – Look for the high tech and digital ways to add facilities to your property like installing a digital security system, installing air conditioners and heaters, offering wifi zones to attracts the more tenants. You can too add the facilities like – small waiting lounges, playground, courtyards, praying rooms, lunch area etc. so people can enjoy the workspace and likely to have more interest in your property.
These are the sure shot smart ways to increase the value of your commercial property. Contact us, if you want to know anything more about the commercial property valuation services. Our expert property valuers are always there to help you out.