Ann Arbor Commercial and Investment Real Estate
Ann Arbor Commercial Real Estate Tips and Tools.
Buyers and Sellers are seeking knowledgeable resources when dealing with both commercial and investment real estate.
How to make certain your transaction goes smoothly:
Whether you’re looking to purchase a single-family home for your college students and their friends to live in while attending U of M or EMU, or looking for commercial land for the new restaurant you’d like to open, we can help!
Ann Arbor Commercial Real Estate usually encompasses office, industrial, retail, and multi-family apartments. However, in the broad sense of the term, commercial real estate is any property owned to produce income, so for ease, we have divided this into two sections and will address the second (residential purchases) as Ann Arbor Luxury Homes Investment Property.
Purchasing Ann Arbor Commercial Real Estate:
Purchasing commercial property is different from purchasing residential investments. Never trust your home and savings to an inexperienced agent. Always make sure that you’re working with a Realtor who has a Graduate Realtor Institute designation and/or is a Certified Commercial Investment Member. If you are a new investor, they can assist you with finding proper legal and tax guidance to make sure that your investment will not have unexpected costs and issues.
Often times a great investment property may be a foreclosure property in Ann Arbor, either residential or industrial.
Special Tip: Weekend Open Houses rarely include commercial real estate, however, investment properties can be found when focusing on properties surrounding the universities.
Ann Arbor Investment Property Searches:
Usually searches for residential investment properties include single family houses and condominiums, and smaller two, three, and four family units. While working with a commercial Realtor isn’t necessary when searching for properties, make sure you’re dealing with someone EXPERIENCED in Ann Arbor investment property so that they can guide you appropriately! Our city has special certificate of occupancy requirements for rental properties, and there are lots of nuances that only an experienced Realtor can educate you on.
There are different tax breaks and brackets for Ann Arbor Commercial Real Estate & Ann Arbor Investment Property. Always check with your CPA or attorney concerning the pros and cons of investing as far as tax breaks are concerned. Make sure that your Realtor explains non-homestead taxes to you thoroughly and that you understand the variance in what may be advertised in MLS listings.
Things to Consider: Buying Ann Arbor Investment Property:
One of the most common mistakes that Investment Property buyers make is forgetting to figure in the additional costs in handling the property. Make sure you have an appropriate “slush fund” ready. Here are the most common extra costs; all these must be taken into consideration when buying an Ann Arbor investment property:
- Vacancy times (when renters aren’t present)
- Property taxes
- Legal fees (in case of bad tenants)
Also keep in mind that you’re dealing with people management, not just property management when dealing with residential investments. If you have tenants who are unhappy, unruly, or destructive, lose a job, have a medical emergency or other loss of income issue, you may have to deal with the repercussions of their misfortune.
Ann Arbor Commercial Real Estate Property Management Assistance:
Berkshire Hathaway HomeServices Snyder & Company Realtors has a designated property management team to assist with both Ann Arbor commercial real estate and Ann Arbor investment property. We have the legal documents to insure that both landlord and tenant rights are observed and protected in accordance with Michigan law. We can collect rents, manage repairs, deal with tenant searches and qualification, and handle all of the issues that arise with investment property ownership.