In the commercial real estate market, property values are so much larger than most residential transactions, you'll be looking at much bigger profits. This also means somewhat higher risk, which in turn means larger rewards. The risk vs. reward ratio is crucial when it comes to winning the real estate investing game.
Commercial property is no different than any other property investment, location will always play a big role in the success of commercial property. However, when looking for commercial properties in particular, look for an area offering good transport links, a nearby pool of workers, and surrounding businesses that could offer support to lessees. It can be harder to secure a lessee on a property that is designed for a specific purpose. So opting for a property with multi-use appeal can help you attract a broader range of tenants.
To begin with, commercial property leases usually run for much longer periods than residential properties - typically several years rather than 6 to 12 months. This gives you greater certainty of rental income, plus rents tend to be reviewed at least annually. However, when first finding a tenant or in between tenancies, investors can experience longer vacancy periods. It can be harder to secure a lessee on a property that is designed for a specific purpose. So opting for a property with multi-use appeal can help you attract a broader range of tenants.
Commercial Buildings usually fall under a separate part of the building code for a reason. The bigger the building the more complicated the design. Large Buildings is an intensive course dealing with the Occupancy of Buildings; Building Fire Safety; Safety within Floor Areas; Exits; Barrier Free Design; Structural Design; Change of Use and Renovations to name a few. As you can see from the subject titles all of these aspects of a building are important and can be very expensive to repair or upgrade.
Commercial Buildings usually fall under a separate part of the building code for a reason. The bigger the building the more complicated the design. Large Buildings is an intensive course dealing with the Occupancy of Buildings; Building Fire Safety; Safety within Floor Areas; Exits; Barrier Free Design; Structural Design; Change of Use and Renovations to name a few. As you can see from the subject titles all of these aspects of a building are important and can be very expensive to repair or upgrade.
Knowing Part 3 Large Buildings - Classification and Construction is vital to beginning any inspection. The OBOA Course of Classification and Construction addresses large buildings and includes the following: building classification; separation of major occupancies; building area and height; streets; building size and construction; occupant load; fire separation/fire-resistance ratings; firewalls; closures; Ontario Building Code requirements; fire stopping; provision for firefighting; and mezzanines and interconnected floor spaces.
Commercial property is no different than any other property investment, location will always play a big role in the success of commercial property. However, when looking for commercial properties in particular, look for an area offering good transport links, a nearby pool of workers, and surrounding businesses that could offer support to lessees. It can be harder to secure a lessee on a property that is designed for a specific purpose. So opting for a property with multi-use appeal can help you attract a broader range of tenants.
To begin with, commercial property leases usually run for much longer periods than residential properties - typically several years rather than 6 to 12 months. This gives you greater certainty of rental income, plus rents tend to be reviewed at least annually. However, when first finding a tenant or in between tenancies, investors can experience longer vacancy periods. It can be harder to secure a lessee on a property that is designed for a specific purpose. So opting for a property with multi-use appeal can help you attract a broader range of tenants.
Commercial Buildings usually fall under a separate part of the building code for a reason. The bigger the building the more complicated the design. Large Buildings is an intensive course dealing with the Occupancy of Buildings; Building Fire Safety; Safety within Floor Areas; Exits; Barrier Free Design; Structural Design; Change of Use and Renovations to name a few. As you can see from the subject titles all of these aspects of a building are important and can be very expensive to repair or upgrade.
Commercial Buildings usually fall under a separate part of the building code for a reason. The bigger the building the more complicated the design. Large Buildings is an intensive course dealing with the Occupancy of Buildings; Building Fire Safety; Safety within Floor Areas; Exits; Barrier Free Design; Structural Design; Change of Use and Renovations to name a few. As you can see from the subject titles all of these aspects of a building are important and can be very expensive to repair or upgrade.
Knowing Part 3 Large Buildings - Classification and Construction is vital to beginning any inspection. The OBOA Course of Classification and Construction addresses large buildings and includes the following: building classification; separation of major occupancies; building area and height; streets; building size and construction; occupant load; fire separation/fire-resistance ratings; firewalls; closures; Ontario Building Code requirements; fire stopping; provision for firefighting; and mezzanines and interconnected floor spaces.
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