How Residential Properties Differ From Commercial Properties?

Properties which are used for non-residential purposes, that means, properties which are used mainly for businesses are commercial. These properties can be used by owner for personal business purpose or owner can give it on rent. Commercial properties have several categories, such as, office spaces, hotels and resorts, restaurants, healthcare facilities and malls. If anyone wants to invest in commercial properties, then it requires large amount of capitals as compared to residential properties. Different classes of commercial properties are office spaces, industrial, retail and multi-family rentals. There are few businesses, which own the property, where business is run but there are many businesses, who take the property for rent and this rent is quoted as annual rent dollars per square feet.

Residents of Langley, which is a city in British Columbia, Canada, if want to get a commercial property for the purpose of business and want to buy it, they should search for commercial property for sale in Langley. Investment point of view, investing in commercial property is considered as very good investment. Initial investment cost for building and the cost which is required for customization as per tenant’s need, is higher as compared to residential properties. But, overall returns are also higher and problems which may have to be faced with residential tenants are not present, when property is leased for commercial use. Investors of commercial property can make use of triple net lease, in which taxes, insurance of building, and maintenance are paid by owner of commercial business.

If you want to take a property on lease, then you should know the difference between a commercial space and retail space. Commercial space requires a large area, which can include conference room, reception area, offices etc; whereas, retail spaces are those, where it is required to have a large amount of foot traffic. While taking a retail space for rent, you should keep in mind few points, such as parking, visibility and accessibility. Having all the three points in favorable condition, may be helpful for flourishing your business. If you want to buy a retail space in Langley, you should search for commercial retail space for sale in Langley.