The world of commercial property investments is vast, with some people specializing in office space while others routinely buy factories. The renting out of these properties can either be supervised by the investor or by a company that they have hired to manage the building.

There are some investors that simply want to buy the building and start collecting rent checks. There is nothing wrong with this, but other investors try to make each piece of property more profitable than ever. This is done through improvements, increased popularity of the area, and other things, which are as follows.

Attract A Few Popular Businesses

Regardless of whether you own a strip mall or an office building, it is important to have tenants that are there to stay. Popular restaurants moving location is a great example of this, as it could stimulate the economy of the entire office park.

This can help boost foot traffic at all of the businesses and help them stay open for as long as possible. However, attracting these businesses can be difficult if your property is not up to their standards. Something that could attract potential businesses is having a gym in the office building.

This is a perk that the businesses could allow their staff members to utilize, as long as they are sanitary. Be sure to post general rules related to wiping off workout benches or cardio machines, as not all people have the common sense to do so.

Put A Restaurant In The Building

Office buildings that have a restaurant or café of some kind do immensely well. The amount of employees in the business park or building will directly impact the amount of food that is sold daily.

Most people are willing to pay quite a bit to avoid going out to lunch with potentially annoying coworkers. Even allowing vending machines in the area can bring in more income. This could be rented by a company that would pay to put their machines in there, or it could be done by you as the owner of the building.

Vending machines can make an office park look less classy, but it will make money for you on a daily basis.

Renovate Where Necessary

Most people who own business parks want to avoid potential costs in the future. This can be done by renovating when necessary and not avoiding any repairs because of the cost. A renovation can even end up saving you money if you do something like replace the windows with a more energy efficient option.

Building and renovation electrical services will have to be consulted in order to make sure everything is up to code. Carpets are a thing of the past, so make sure to replace these if the old carpet starts to look worn. Renovate to create an office that you would love to work in, as this will be sure to garner the highest rent payments.

Build a Parking Garage On Your Property

A daily parking fee for anyone who wants to use the parking garage with security can be a great way to continue making money. While you will not be able to force employees to use the secure parking facility, it will attract those who want to protect their cars and trucks.

This will be a large cost at first, but it will end up paying for itself. The other businesses like clothing shops or restaurants will add a good deal of parkers.

Employees will tend to take up quite a bit of parking space, but those already parking for a night out will not think twice about spending a few dollars on parking. Institute an hourly fee and a daily fee, so that employees are getting a deal if they choose to park there.

As you can see, there are ways to increase your return on investment at your commercial property. Do not hesitate to try one or all of these in order to make this as profitable of an investment as possible.