Choosing the right place to start a business can be tricky. If you’re in Bloemfontein, you can never go wrong. It’s a bustling metropolis, fondly called the “City of Roses”. It is known to be the hub of good schools, restaurants, shops, entertainment, and bars. With this, Bloemfontein is the right place to establish your business.
Property development has started in this beautiful South African city, just a couple of years ago. Many properties are already up for sale or rent. How do you know if that specific area of business is the right one for you? Here are some of the things to consider in choosing the right commercial space in Bloemfontein:
- Do your homework. It is always wise to have your independent search first before you consult a real estate agent. Checking out commercial properties on your own can shed new light in what you want. Seeing those available properties can result to unbiased perspectives before you actually get a real estate by your side.
- Consider your investing range. Determine if you want to manage that commercial property yourself or pay someone to do it for you. If you want to manage the property actively, choose one that is not far away from your residence. Hiring someone to manage your property for you is a better option if you are too far away from the spot you purchased or rented.
- Study the available job opportunities in the area. Since you have chosen Bloemfontein, see what types of employment openings are available. Be o the lookout for major companies that are opening in your area. Employees usually flock in places where new jobs are opening. Take advantage of this opportunity because this can provide you with tenants. It is more beneficial for you and your potential tenants if the new company is very near your commercial property. This takes out the stress of traveling a long distance.
- See what kind of neighborhood you have around your business. The type of neighborhood that surrounds your commercial property sets the type of tenants that you can have. An example is a property near a university. Tenants here are mostly students and even professors. This area also gives you a consistent time of vacancies during the year.
- Think about the property taxes. This type of taxes is not a standard thing. If you want to rent out your commercial property, consider the money you lose in taxes before you set the rental fee. If your commercial property is in an area where long-term tenants are found, then you can set a higher rental fee. You can visit Bloemfontein’s assessment office for tax information.
Bloemfontein is a good place to start a business. It’s also an ideal area to establish alliances with other businesses. Choose well and you can reap your investment rewards soon.