Even though the United States is dealing with an economic slowdown, one sector that has not been as affected is the commercial real estate industry. Both construction and real estate sales have continued even though there has been a slowdown in other sectors.
Commercial real estate investing can be a great way to make money. That's why people continue to expand into the commercial market in Kentucky. One of the biggest industries is the bourbon industry, and Bullitt County is now expecting a new distillery.
You've owned your business for several years. You started out in a small building and rented until you could afford to put a down payment on a larger building.
Renting commercial space is a big decision for your company. It can sometimes be a lengthy and tedious process. Giving yourself a window of six-to-nine months to secure a lease is a sound approach. You should begin renewal negotiations nine to twelve months before your lease expires to give yourself relocation options if things don't work out.
Making the decision to invest in real estate is a major undertaking. If this includes commercial properties, you may be able to tap into a lucrative industry, but you do need to take steps to protect yourself in case anything happens with the properties.
Owners of commercial real estate may have vast portfolios of properties or they might have properties with multiple tenants. Keeping track of everything can be taxing, especially for those who have other business ventures. These individuals might opt to hire a property management company.
When you're looking to buy property for your business, you have to ensure that you choose a location that will work for your company. There are several points that you have to think about during this process. The type of business you have is going to play a big part in what factors matter.
Since the creation of North America's first town market, there have been many evolutions in how people shop. Market days led to commercial districts on Main Street, and some companies issued catalogs offering everything from egg beaters to prefabricated houses. Now, fewer than 50 years after the first large suburban mall opened, online retail has turned it all on its head.
Is it time to move your business from your home to a commercial space? Are you running out of room at your current office? Do you simply want an updated location? If you answered yes to any of these questions, it's time to explore the real estate market for a new commercial space. Below, you will find tips to help you acquire the right commercial property for your business.
The zoning laws of Kentucky are in place to ensure that businesses do not overstep their bounds if they are operating close to a residential area. Zoning laws are divided into sections: commercial, residential and industrial. Each different section has laws that govern what can be built in those sections. So, how do you learn the zoning laws of Kentucky?