For: Commercial and industrial property owners and asset managers.
This story reminds us that we need to know what our tenants actually do. I have been caught on this subject with a couple of industrial buildings unsavoury tenants. Note it was a nightmare to get their leases cancelled and the tenants evicted.
It reminds me that as investors we can never do enough due-diligence. (pre leasing)
Great post. We try and find quality tenants, but it is never easy when the property market conditions are tough for businesses. Before signing any lease we try and meet the prospective tenant and see how they run their business.
For new businesses starting up. We will often ask the leasing agent for some business information to give us some confidence in the tenant.
For those that own those small sheds which their now seems to be millions of them I would be very careful who you lease too as I am hearing some horror stories.
Hi community. Tip for new commercial and industrial owners. It’s a good idea to keep in with the neighbours of your building and visit them regularly as they will soon tell you if something is wrong.
Hi @Im2 . Now that’s a great tip. Thanks for sharing🙏