Though traditionally seen as a bedroom community for the larger nearby city of Montreal, Laval actually has a diverse economy that welcomes with open arms those new residents with the business vision to create and sustain a new venture in a multicultural city. If you think you are a person with the right skills and connections to pull off such a feat, browse through this quick guide to commercial properties in the city to make sure you get off to a good start.
Commercial Versus Residential
Shopping for a commercial property is not the same as shopping for a new home, though many people do choose to live in apartments above the storefronts they maintain. You'll need to employ the services of a qualified and knowledgeable Quebec or Ontario commercial real estate agent. Some agents do double duty, but most residential realtors are simply not up to putting through a commercial sale.
Getting Funded
If you're serious about purchasing or leasing a commercial property in Laval, you will not only be in the market for the property itself but also a mortgage or loan. You should visit multiple commercial mortgage lending institutes (most are banks, but not all) to check out the rates. Remember to have a solid business plan with you or there will be no incentive for them to take a risk on you.
Types of Commercial Properties
There are dozens of types of commercial properties in the world, but we will concentrate on the types that you are most likely to be in the market for in Laval. Retail is a major sector for suburb jobs, Gatineau to Laval to Mesa, Arizona. You can choose from a stand alone shop front where you can set up a boutique store, perhaps in a downtown area or in a prominent shopping district, or a parcel of space in a mall. In both cases you will be paying rent by the square foot based upon property's sales volume potential.
A lot of Toronto investment real estate is in the form of multi-unit residences, and the same is true of urban Quebec. In any city there are large numbers of people looking to rent an apartment or buy a condo, so if you have the capital to lay down on a residential property, do. Just make sure when you're choosing a place that you'll be able to get enough rent from tenants to make your mortgage payments - and turn a profit.
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