Zoning is such an important aspect of commercial real estate especially now when real estate development has risen to high levels. It refers to a government system used in planning and classifying different areas for specific development purposes. Zoning is what determines what can and what cannot be built on a specific piece where. Governments use zoning to determine use and ensure that is appropriate development in all areas across the country.
Zoning regulations and laws are enforced strictly in all countries. Â Flouting these laws and regulations can result in serious consequences from the government or the enforcing authority. As an investor in commercial real estate you are required to carefully sturdy the applying zoning laws and regulations in areas where you wish to invest.
Knowledge of these rules will help you to determine the right structures to develop that are in compliance with the local zoning laws and regulations. To guide you in this area, consider the information below on commercial real estate zoning laws and regulations.
Key Components of Zoning Laws and Regulations
Zoning laws and regulations are wide and apply differently to different regions. Â For instance, the New York zoning laws and regulations might be different from those of Nevada and so on. Â As an investor you need to be weary of the zoning laws and regulations in the area that you are in before committing to any real estate development.
At the heart of zoning laws and regulations are details like permitted uses which outline the kind of businesses allowed in a given area. Â The second detail in zoning laws and regulation is building height restrictions which dictate how tall buildings in a given area need to be.
In some areas, the zoning laws and regulations might also come with floor area ratio regulations in both commercial and residential buildings. This rule though not standard to all areas and countries dictates the minimum and maximum number of floors allowed in a commercial property in the region where these rules apply.
Setbacks is another important detail contained in zoning laws and regulations. This detail determines and defines the exact distance a building has to be from property lines or from another property. This distance is often measured in meters and is used to ensure that buildings are not constructed so close to each other.
The Importance of Understanding Zoning Laws and Regulations
Commercial property zoning laws are very important especially to property owners or people interested in investing in commercial properties. Mastery of these laws can be added advantage to property developers as it will help them mitigate the risk of flouting zoning rules and regulations in the area in which they are investing.
As a commercial property investor you are therefore advised to familiarize with the local land zoning laws and regulations. Â Knowledge of these laws and regulations will guide your investment moves ensuring that you only invest in the right areas and do so in the right way.
Conclusion
Zoning laws and regulations are very important as they determine what property is constructed where and in which way. Â Property investors are urged to master these laws and always adhere to them when constructing commercial properties.
