Frequently Asked Questions [General]

Frequently Asked Questions Specifically About Bumii.co.uk

01. What is commercial and industrial real estate?

Commercial real estate is typically retail shops and offices while industrial real estate generally refers to factories and warehouses. The term "commercial real estate" is generally accepted these days as covering industrial as well as commercial real estate.

02. Some people talk about feet and square feet and others in metres and square metres and it's confusing. What does it all mean?

Despite the change over from imperial to metrics the old ways still persist, as many people still cannot fully relate to metrics. The conversions are:
1 metre=39.3701 inches
1 metre=3.28084 feet
1 square metre=10.764 square feet
1 hectare=2.47105 acres

03. What is the difference between a warehouse and a factory?

Warehouses are primarily for storage and distribution and need to have a high roofline for pallet racking and other storage (6 meters minimum) and good access for large vehicles carrying containers. Factories are for manufacturing and are less reliant on height depending on the manufacturing industry involved. These premises would perhaps need to be in close proximity to public transport to cater for employees.

04. Is commercial and industrial real estate a better investment than residential real estate?

It's a matter of opinion in many respects, however well located and well-managed commercial or industrial real estate can perform extremely well and can pay huge dividends over the long term. Commercial and industrial real estate generally offers higher returns than residential real estate with fewer tenants’ turnover and tenancy problems. Remember that commercial and industrial tenants generally take minimum lease terms of 3 years while residential tenancies are often very short term which is costly as every time your property comes vacant there is loss of rent, advertising costs and leasing fees.

05. Why should I have my commercial and industrial property managed by an agent, surely anybody can collect the rent?

Collecting the rent is only part of the job. When you engage a specialist agent to manage your commercial and industrial property they do just that - they manage your property. Management means more than just collecting the rent. It involves: Advising on acceptable lease structures so that your investment not only retains its value but also has growth built in wherever possible. Negotiating lease terms with the tenant to obtain results that ensure that the value of your property is enhanced by the lease and not restricted or worse - devalued. Dealing with your tenant in an expert, professional manner regarding queries and problems that inevitably arise from time to time with the property and/or tenancy - these negotiations should only be handled by professionals to achieve the best outcome. Ensuring the property is maintained. Advising the owners on rental and sale values and generally keeping them informed of market trends. The future value of your property is dependent in no small way on the quality of it's management - to take chances with a non specialist or to adopt a "do it yourself" approach is unwise and likely to result in rough running for your investment and lower returns.

06. What about the agent's fees and charges?

Agents’ fees are generally not regulated and are negotiable. Any successful investor will tell you that if you choose the right agent they are worth far more than the fees they charge. Many wealthy property investors owe their success to their choice of professional real estate agent and they did not gain that agent's loyalty by cutting fees. Never choose an agent on the fee structure alone. The final result is where the money is made not through negotiating lower fees.

07. My business has grown and I need to relocate to larger premises. I have several years remaining on my existing lease.What can I do?

This situation requires coordination as you need to locate and secure new premises and sub-let or assign your existing lease to a new tenant with as little time lapse as possible between the two transactions otherwise you will be paying double rent. Paying double rent for a short period of time at least is highly likely depending on demand for property in your location. Choose an agent from our find an agent in your State and one or more agents will contact you to offer a solution.

08. I have questions that are not covered here, where do I go for help?

Contact our team member by e-mail:info@Bumii.co.uk

01. What is Bumii.co.uk?

We are online only commercial property platform. Our aim is to give you more control over the way you deal with your property, saving you a huge amount of money in the process.

02. What are the benefits of using Bumii.co.uk?

Our platform provides an easy way to search for and find the right commercial property you are looking for.

03. Who Bumii.co.uk for?

Everyone! If you want more control over your property sale and save commission payment, then Bumii.co.uk is for you. You don’t need to be an Internet genius to sell, buy or lease through us.

04. Can I use an agent and be on Bumii.co.uk?

Yes! However, check with the agent's contract, as you may be restricted from advertising with anyone else.

05. What is the location coverage on Bumii.co.uk?

We currently cover all the properties from United Kingdom.

06. Why should we choose Bumii.co.uk?

We are focused on helping our customers to connect with the property they are looking for. We strive to be the best online commercial property search platform.

07. How long has Bumii.co.uk been trading for?

We are completely brand new company born in month of June 2016.

08. How long do you advertise our properties on the Bumii.co.uk?

Until you sell it.

09. Do you have your agent visit my property as soon as I list my property on your site?

Currently, we don’t have this service available.

10. Where will my property be seen?

Your property will be available on Bumii.co.uk. With our extensive marketing and large reach your property will get the maximum exposure it deserves.

11. What are your opening hours?

We are online platform. We operate 24 hours 7 days a week and 365 day in a year.

12. Where are the hidden charges?

It is free to list, sell and lease your property through Bumii.co.uk There are no fees, especially no hidden fees!

13. What if my property is already for sale or lease or rent with an estate agent?

We are happy to advertise your property alongside your local agent. However, we are unable to advertise your property if you have signed a contract for sole agency. You will need to give notice before you can advertise with us.

14. Can I use Bumii.co.uk and my local letting agents?

We're happy for you to do so, though you'll need to check your agency contract. Most allow you to use multiple agents.

15. Can I market my property with another estate agent at the same time?

Yes, you are free to market your property with another estate agent at any time although we advise you to read their terms and conditions.

16. Can I use my own photos / description?

We are very happy to use any information or photographs that vendors would like to provide us, provided they are representative of your property that comply with the Property Misdescriptions Act.

17. I run small agency deals both residential and commercial property. Can I use your service for commercial property?

Yes, off course. We deal with property owners, landlords and estate agent.

18. How can Bumii.co.uk help me?

If you own, lease or need to buy or sell commercial or industrial real estate Bumii.co.uk is an invaluable tool that will help you achieve your aims quickly and efficiently. The platform will provide the correct solutions to your need.

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