If you're looking to sell or lease your commercial property, be on the lookout for these red flags, which could doom your opportunity to sell.
1) Mold - It's dangerous and it's a real problem if you're looking to sell or lease your property. You'll need to contact a trained inspection/mitigation company or contractor if you suspect your property has mold. And you'll want to take care of this prior to showing your property to potential buyers to avoid an embarrassing situation.
2) Leaking roof - If you're property is not structurally stable, potential buyers won't be interested, especially if it houses their own greatest investment - their business. Make sure roofs are structurally safe and if not, hire a roofing contractor to fix it.
3) Not Meeting Fire Code - Your property should always meet fire code. This means having exit signs clear and visible over doors, not obstructing doors with chairs or equipment, and making sure smoke detectors and fire alarms are working properly. This also includes making sure desks and walls have the proper sealants so they aren't flammable.
4) Bad neighbors - Even though your property is likely in a commercial or industrial district, you could still fall victim to having loud, inconsiderate neighboring businesses or even homes. Perhaps there's a high crime rate or the homeless like to loiter around the property. In that case, potential buyers will be looking elsewhere.
5) Bad personal reviews of you or your business - With the birth of internet reviews on websites like Google and Bing Local, your business has the opportunity to be seen by millions of people, but there are also opportunities for consumers and former employees to leave reviews about your business. This can be detrimental to your business if they are negative and you are trying to promote a positive image about your property and you as a landlord.
6) Nearby properties of similar size selling for much less than your property is listed at will make potential tenants look elsewhere, at least if they're smart and do their homework. Know what other spaces and buildings in the area are selling at.
7) Termites - Termites can be lethal to a sale, and may ultimately make your property too damaged to sell. Have your property inspected for termites prior to listing and showing your property to avoid a potential expensive and embarrassing situation.
8) Not meeting Florida building code for hurricanes can spell disaster. Again, this cannot be stressed enough to have your property inspected prior to listing it and showing it.