Important Considerations for Your Commercial Property

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Being a good landlord is more than just having multiple commercial properties on your portfolio. You have to be intentional about providing a safe, secure and well-maintained for the persons that rent your spaces, especially for business purposes. Here are some things to think about when it comes to leasing a building or office space.

Having the Right Insurance

Just as a homeowner needs an insurance policy that covers injury claims and other damages, a commercial property owner needs to have insurance products to cover the property. The right products will address things such as fire, theft, weather and injuries to persons in your building. Depending on the type of building you own, you may need to look into other types of coverage such as premises liability. Review your coverage levels to make sure they’re adequate for the specific risks associated with your property.

Having a Clean, Attractive Property

Your tenants want to live or operate in a facility that is clean, well-maintained and attractive. This means that you have to invest in things such as regular cleaning, landscaping and pest control. Think also about how your building looks from the outside. Regular upkeep of the structure as well as having clean parking lots and outside amenities are also part of your responsibility. Consult an expert in site development Pittsburgh PA for a property that is beautiful on the outside too.

Having a Secure Space

Safety and security are essential to a good relationship between landlord and occupants. No one wants to live or do business in a place that lacks proper security or otherwise dangerous. Invest in active security such as a full-time guard as well as a monitored system. Other elements improve safety such as doors that lock after a certain time and parking lot lighting.

Owning commercial property can be quite lucrative; however, you need to make sure your property is a place worth renting. Do your part by making sure your spaces are insured, cared for and secure. Happy tenants benefit you with positive word of mouth and referrals.