how to avoid commercial condo disaster

How To Avoid Commercial Condo Disaster

Brought to you by: www.robinsonscondoforsale.com


Rising land and development expenses have numerous business visionaries considering a business apartment suite as a different option for a stand-alone building for their business. Be that as it may, watch out:

The onus is on you to ensure a condominium corporations is ideal for your organization. Sharing a building with other companies offers numerous advantages beyond a lower purchase price.

www.robinsonscondoforsale.com


Condo owners benefit from sharing the cost of such items as maintenance, insurance, property taxes and heating. And the building is often run by a management company, saving entrepreneurs the headaches of operating a building as well as their own business.

But experts caution that entrepreneurs need to do their due diligence, with the help of qualified advisers, before purchasing a commercial condo. Condominiums are governed by provincial laws that vary across the country.



However, they do contain many common provisions designed to protect consumers. Condominium corporations must furnish you with exposure reports covering such matters as the condominium’s standing rules, rules and money related proclamations.

For resale condominiums, revelations will incorporate such things as extraordinary suit and whether the proprietors are forward on installments into a store reserve for future repairs. Some types of business may be excluded from operating in the condo you’re considering because of zoning or condo restrictions.



For example, Glenn knows of one condo that prohibited welding and open flames rather than incurring the expense of installing interior walls meeting fire code for that kind of activity. Glenn also notes you will likely need the permission of the condo board before making changes to common elements and even sign a contract outlining your responsibility for those changes.

It’s important to not only inspect the unit you’re thinking of buying, but to also look at your neighbours’ businesses and the outside of the building. Is there something that could potentially impede your operations or discomfort employees and customers?



Examples might be noise, fumes or odours from neighbours or trouble spots on the property like garbage or abandoned equipment. Another is the roof, exterior cladding and parking lot are usually owned and maintained by all owners.

But how about the windows and doors on your unit—are they yours? You should be aware of what your unit encompasses and what is commonly owned.



To help you purchase the right commercial condo for your needs, click here today for more related articles.


http://www.robinsonscondoforsale.com/

http://www.robinsonscondoforsale.com/contact/


Brought to you by: www.robinsonscondoforsale.com

how to avoid commercial condo disaster

Documents