
As an owner or manager of a commercial property, you will have access to huge earning potential if you do decide to lease out your building. In densely populated urban areas, office blocks, storage units and retail spaces are becoming increasingly valuable, especially as these properties become smaller and harder to come by.
If your business tends to slow down or close during the winter months, then this may represent the perfect opportunity to lease out your building to a tenant. In addition to providing you with financial support, there are numerous ways that this approach can benefit your business and your bottom line.
Read on to find out more about the various advantages of leasing your commercial space this winter.
Consistent Income
Depending on the nature of your business, you may find that commerce drops off during the winter season, particularly over the holidays. As such, you may choose to shut down during this period, both to conserve resources and to give your staff a break.
Leasing your property to another business can ensure your income remains consistent, helping you to start strong in the new year.
Appeal To Seasonal Market
While your own business may slow down over the winter months, other industries will flourish at this time of year. For instance, pop-up shops, markets and other seasonal services may be on the lookout for commercial leasing opportunities, which you can provide.
As a result, you will be able to gain passive income over a temporary window, as these businesses will be prepared to move out again once their busy period is complete.
Minimal Vacancy Time
If your commercial space is unoccupied for long periods, then this can cost you both practically and financially. Specifically, it is important to keep boilers, plumbing and electricals up and running during cold weather to avoid malfunctions when you return in the new year. Empty properties can also be targets of theft and vandalism, affecting your business insurance in the long run.
Finding a short term tenant can allow you to tackle these concerns, keeping your building in top condition all year round.
Andrew Lee Property Lawyers: Commercial Property Solicitors You Can Depend On
Our commercial property law specialists can support you with a variety of legal matters relating to your business, whether you’re looking to lease out your space on a temporary basis, or if you have a dispute that needs to be resolved.
Get in touch with us today to receive direct and dependable commercial property advice.
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