When you think of commercial property, do you think of tall skyscrapers, office buildings and warehouses and probable large apartment complexes?
Well, apartments over 4 units are commercial properties but there is one big difference between apartments and offices. One space is engaged by residents and the other spaces are engaged by businesses.
That’s a big difference! Did you know the 3 out of 4 businesses go out of business after the first year? Ninety percent are out of business by year five! If your renting to businesses, chances are, your income rate is going to be higher than a residential property and you should know that occupant earnings is your biggest expenditure in any multi-unit property.
