Why should you even bother with commercial lettings in london? Well there are many reasons. Firstly it can be cheaper than buying a flat in central London and you will have all the amenities that you need in one place, such as a nice reception, a nice kitchen and of course a nice living space. There are many more benefits to consider too. One of them being the fact that there are many more people who live in London now than there was before the recession, and it is true that you will get a better deal when you get commercial property in central London.
You must take into consideration however, that the commercial lettings process isn’t easy to go through. You can’t just walk in and ask for a tenancy. You may be able to search online but then you still have to contact every landlord personally, and sometimes this can be hard work. But there is a simple way around this, which is to use a lettings agency.
A lettings agency will do most of the work for you. This includes contacting landlords, finding out about their property and offering an online application. This application then becomes part of the company’s database and they will forward it to the landlord. As soon as the landlord receives your application they will put it on their personal list. Now you simply have to choose your property and start looking.
Now how does a lettings agency to make a profit? Well they don’t really, although it will help if they did get any money from your property. The majority of their profit however comes from a commission they take. It can also be higher if they find a great property or a particularly good deal.
There are two ways to find a commercial lettings in London company. You can do an internet search and come up with nothing but listings. Or you can go to a real estate agent and see if they know anyone who works with a lettings company.
You should never have to pay to use their service though. Most companies will expect you to pay a one off small administration fee which is actually refundable if they are unable to get you a property. This money could then go towards advertising your property if you haven’t got enough done yet. Plus they will take care of all the paperwork so you won’t have to worry about that at all.
Once you have found a suitable lettings in London company they will search for your property with lettings brokers. This means they can look around multiple companies looking to buy your property. They can then offer you a deal to get you to agree to let them look at your property further. They will typically try to offer you a low buy to let price with a fair market value guaranteed.
But be warned that you will still have to sign a lease agreement. The type of commercial property you will be looking at is usually a small office or suite. It is not advisable to let such a property to a property developer. Instead you should look at letting a commercial property for commercial rates. This way you will get far more profit for your property.
When it comes to lettings in London, you should always try to find a company that has a good reputation. This is not as simple as it sounds. There are hundreds of companies in the UK offering commercial space. Some of these may even be legitimate but you need to do your research to be sure.
If you can, find a company that has had experience in the property market. Don’t just opt for the cheapest company you can find – take the time to check their credentials and see what others have to say about them. Also make sure they have a good reputation in the industry and that they actually exist!
Remember to always get several quotes before letting a commercial property. Make sure they are all the same price. Also check that you don’t have any restrictions when it comes to the terms of the deal. For example, are you only able to let the property for three months or a year? Be clear on these terms before signing any contracts.