Phone 0418 129 299
pflynn@icpg.com.au
Hidden Leasing Costs - NJuly 2023
It is interesting to note that after salaries, the second highest business cost are the rental costs for leasing a premises. In many cases the total cost of occupancy over the term of a proposed lease, is not fully understood, or calculated.
Various additional costs such as outgoings, parking, fitout costs and make good, together with leasing incentives, are not factored into the decision making and evaluation process. Accurate budgeting will reduce risk, and save time and money.
The most appropriate financial analysis to use when considering leasing a property is to establish and compare 'whole of lease' term costs.
If you are thinking of moving, then now is a great time to plan the move, to ensure the best outcome for your business, money and reducing risk in the process. This will give you peace of mind, and the confidence to make an informed decision.
Habits of Successful Investors – Q4, 2023
1. Master a Niche Market
Effective real estate investors acquire an in-depth knowledge of their selected market(s). Keeping abreast of current trends that affect the type of property you are looking to purchase, and the type of tenants who will lease the property. Plan for the future by studying the market. This may create potential opportunities for the prepared investor, particularly in this current market.
2. Understand the Risks
Real estate investors often see ads about how easy it is to make money in real estate. Prudent real estate investors understand the risks, not only in terms of real estate deals, but also the legal implications involved, and adjust their investment decisions to reduce those risks.
3. Know the Market
Effective real estate investors acquire an in-depth knowledge of their selected market(s). Keeping abreast of current trends that affect the type of property you are looking to purchase, and the type of tenants who will lease the property. Plan for the future by studying the market. This may create potential opportunities for the prepared investor, particularly in this current market.
If you are considering a commercial property, then obtain advice from an independent property expert, as it is their core business. Feel free to call me on 0418 129 299 for a brief chat.
E: pflynn@icpg.com.au www.icpg.com.au