If you have purchased a house, you know that it is not a simple purchase. The property must be legally transferred from one party to another. In this case, it may be in your best interest to get a real estate attorney involved. That way, you have someone who is well-versed in real estate law to support you through the transaction. This same principle applies when you are renting a commercial property for your business.
As the tenant of a building, you need to have a good understanding of your landlord’s expectations. There is no getting around the necessity of carefully reading your lease before signing it. A real estate attorney will ensure that the lease includes your rights to quiet enjoyment, health and safety, and security. Find out more about how you can benefit from connecting with a real estate attorney once you have discovered the perfect commercial property for lease in San Antonio.
Commercial properties consist of buildings and land that are home to profit-generating activities. The designation as a commercial property has implications for financing, taxation, and, of course, how laws are applied. Before all else, though, you need to determine what type of property your business needs so that you can make a proper investment. Here are three types of commercial property for lease in San Antonio:
Whether you are looking for an office building in the heart of San Antonio or in the surrounding suburbs, consider how many people are on your team. Keep in mind your projected growth, as well. Then, consult with your real estate brokerage to determine which local office buildings would accommodate that size. Office buildings are grouped into the categories of Class A, Class B, or Class C. While these classifications are largely dependent on the health of the market, they range from best construction and location to most unfavorable. But note that just because a commercial property for lease in San Antonio falls outside of your desired class does not mean that you should completely write it off.
Retail properties are not just single storefronts. You might want to invest in a shopping center. This is a retail property that may or may not contain anchor tenants. Anchor tenants are larger retail tenants, known to draw in more customers. Examples include Whole Foods, Walmart, or The Home Depot. Other benefits of anchor tenants are that they bring credibility to the space and help to stabilize cash flow. Smaller businesses, thus, benefit from their presence. A community retail center, on the other hand, is made up of multiple anchor tenants. These are bigger centers that include grocery stores, drug stores, and restaurants. So, when searching for retail commercial property for lease in San Antonio, you need to consider what kind of space will most successfully reach your target audience.
Options for hotel properties range from full-service to limited service and extended stay. They are designed with different guests in mind. With more and more people moving to and traveling to Texas, the hotel industry is booming. In fact, San Antonio’s hotel bookings were reported to top Austin, Dallas, and Houston in the last quarter of 2021. The San Antonio hotel sector generated over $335.3 million in approximately three million hotel nights during those final months. If you are interested in getting into hospitality, now is your time. A well-managed hotel is capable of delivering annual returns that far exceed other forms of real estate.
Real estate attorneys are licensed to practice real estate law. This is the area of law that touches on legal issues related to buying, using, and selling property. These attorneys are legally authorized to prepare and review documents and contracts related to your investment in a commercial property for lease in San Antonio. They may also facilitate the closing and, eventually, confirm whether each party has fulfilled their obligations under the contract. If there are any unpaid loans or claims against the property, a real estate attorney works to clear them.
A real estate attorney is able to represent the tenant or the property owner of commercial property for lease in San Antonio. They may otherwise represent the lender or the title company as a closing agent. But no matter the case, a real estate attorney must not have a conflict of interest by representing the other party at the same time. It is not possible for a real estate agent representing both parties to give each client the best deal, due to the difference in their interests. That said, a buyer and a seller are able to hire attorneys from the same firm.
The role of a real estate attorney is to consider issues that you cannot predict. This is done by examining and evaluating documents regarding the terms of a sale. Your attorney will provide you with complete peace of mind over your commercial property investments. This is essential considering what a large financial commitment a commercial property for lease in San Antonio is. If you go without an attorney from the start, you could face greater costs or losses in the future. Allow them to negotiate on your behalf with their priceless range of real estate knowledge.
It may be the case that your relatives, friends, or colleagues have previously utilized a real estate attorney when investing in a property. Ask them about their experience and whether they have a recommendation. If you are joining forces with a real estate brokerage to locate a commercial property for lease in San Antonio, also consider their connections. They will have already gone through the proper vetting process so you don’t have to.
As you now know, hiring a real estate attorney during a transaction related to an investment property is a good idea. But for landlords, real estate attorneys are also hired on the basis of evicting tenants. This is especially the case if a tenant is fighting an eviction with their own lawyer. While landlords are capable of winning an eviction lawsuit on their own, it always pays to have someone in your corner whose career is centered around contracts. There are many detailed rules that a landlord must follow in an eviction lawsuit, and judges will often set the bar high in favor of the tenant. After all, it is their home or business at stake.
Commercial Industrial Properties has been an integral part of Texas’s growth since 1975. Many of the brokers who are currently with CIP were involved with the original brokerage firm from the start. This means that when you partner with our diverse team, you get decades of experience to make your search go as smoothly as possible. Looking for commercial property for lease in San Antonio, Austin, Houston, or Dallas? Send us a message to start discussing your real estate needs with an expert broker.