Hello. A few months back, I too was wondering whether should I lease or sell my commercial property. I own a commercial space in Pune and after much consideration; I planned to lease it. So, to decide if you should sell or lease your commercial property, there are certain things you need to consider. This includes the current real estate market in your area, the property value, its condition, your future goals, and more. Let me talk about it below.
Commercial Property: Selling vs Leasing
Here are some factors to consider when you are confused about selling or leasing your property.
Selling
Consider the goals you want to achieve. If you are looking to get a lot of cash instantly, selling your property can be a good choice.
Check the property appreciation of your property. If you see significant growth in the appreciation of your property, selling it can be an excellent decision. Compare your property with similar ones in the area and see if you’re getting a good deal.
You also need to see the current market. If it is a seller’s market in your area right now where there are high chances of you getting a good deal, selling can be a good call.
Leasing
Leasing can be the right choice if your goal is to generate stable income out of your property and see it as an investment.
You also need to see your property’s condition. How much would you spend improving the property’s condition to attract high-paying tenants? Is it possible for you or not?
Look at the rental income you’d be able to generate. Compare similar properties and get an approximate figure regarding whether it would be beneficial to give the property on lease for the long term or not.
Apart from these, one thing that you need to analyse is the current market conditions. If it is a seller’s market right now with increasing property rates, it is better to lock in your profit instead of waiting for the market to go up even further.
With leasing, you’ll have to keep an eye on the market, analyse trends and check the profits you’d be able to make. So, consider these things and then decide whether should I lease or sell my commercial property.
Save Lakhs on Brokerage By Selling or Leasing Your Space Via NoBroker! Some related information:How to Sell Commercial Property Fast?
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Authors Of The Question
Should I Lease or Sell my Commercial Property?
ramesh
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4 months
2024-11-21T11:30:45+00:00 2024-11-21T11:30:45+00:00Comment
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