Going commercial with My Property Hub
The commercial property market is becoming an attractive alternative to experienced landlords looking to diversify their portfolio. Residential landlords are widening their portfolio with commercial solutions and diversifying from two-bedroom flats with industrial units, shops and office developments, and, as a result the market is expected to boom. My Property Hub has teamed up with the country's leading commercial mortgage brokerage to help buy to let investors expand their portfolio.
Commercial property covers anything that isn't residential: shops and offices, restaurants and pubs, doctors, dentists and vets surgeries, hotels, sports centres, factories, workshops, garages, hospitals and schools. There are a couple of differences between commercial and residential property investment; the main one being the tax advantages not available to most residential property investors including capital allowances, superior taper relief on capital gains and Stamp Duty Land Tax exemptions.
The average residential tenancy is between six and twelve months, while commercial leases can run from between 10 and 35 years and have regular rental increases. Commercial tenants have to cover the building's maintenance cost, which isn't the case with private tenants, thus making commercial property investment a long-term commitment but one that is relatively secure, and hassle free. Commercial investment requires a different set of skills than residential investment, and local and national economics influence the market as well as price fluctuations.
In the past commercial buy-to-let has essentially been out of reach of many investors for a number of reasons: firstly potential landlords must laboriously produce profiles on tenants, themselves and the property; then there's the bureaucracy, red tape and restrictions; and finally there's the question of funding.However, with My Property Hub to help; entering the commercial marketplace needn't be a daunting prospect. We have literally hundreds of collective years of experience and our consultants are ready to help you at every stage of the process, just fill-in our online contact form and we will be in-touch.