When buying investment properties in Fall River, MA there are several things one may wish to consider. Are you interested in buying property for commercial rentals or for residential rentals? Real Estate Fall River has many opportunities for investors.
Commercial rental property usually is property that houses or leases office space for a range of business interests, (i.e. law firms, retail outlets, service corporations and more).
1) Leases are usually longer, with built in rent increases. Businesses don’t like to get established in a location, only to move in a year. Often have 3 or 5 year rental agreements, with options to renew.
2) Commercial leases often require the tenant to pay part of property taxes and maintenance for shared areas. This stabilizes the income for the landlord.
3) Management is less hands on than residential rentals. Less frequent renewals. Tenant often has to cover interior repairs, glass breakage heating maintenance, etc.
1) More difficult to rent commercial spaces, requires negotiations and time.
2) Takes longer to fill a vacancy in commercial rentals.
Residential rental property is just that, you will be renting to people who need a place to live rather than work. There can be advantages to this and disadvantages as well.
1) Fairly easy to rent, usually high turnover, and potential tenants is generally pretty good.
2) Leases are usually short term, especially apartments, so you are in good stead with the rental market. If you have a multi-unit property, cash flow is pretty steady.
3) Easier to get financing from banks, they seem to feel it is a better risk.
1) Residential properties generally need a lot of hands on management.
2) Multi-family houses are usually older and may need more repairs and upkeep.
When buying Fall River real estate for investment purposes, there are many fine properties to select. Prices range from as little as $100K to over $500K it all depends how much you want to invest and how much you want to be involved. If you don’t want to be a hands on landlord, you also have the option of turning the property over to a management company to handle it for you. Either way, investments can pay off for the owner.