Being a landlord for a retail building is a bit different than being a landlord for houses in the suburbs. The retail building has to meet quite a bit of stringent codes. Plus, we need to consider the safety of the public using the space along with the tenants. Of course, houses need a lot of work to keep them up, but commercial is different. We keep up on things by hiring professionals to manage the building’s infrastructure. We got a maintenance contract from a company that does HVAC contracts in NYC, and we even have a contract with a snow removal company. Your household tenants remove their own snow. When you lease retail space, you pay for it.
It is not a big deal as far as costs go. Continue reading Operating a Commercial Retail Space is Different Than Being a Landlord for Houses