LEASING VACANT COMMERCIAL PROPERTY
Are your properties plagued with too many vacancies or high turn-over? Market research will provide a comparison of your current leasing programs against other similar properties and find discrepancies, room for improvement, and offer suggestions. Leasing programs should be designed to increase asset value, grow cash flow, lessen carrying costs all while remaining competitive in the local market.
A full market analysis will provide a list of comparable properties to ensure you are attracting the right tenants to your property.
The following strategies will assist in finding the right tenants.
Brochure
A quality brochure can attract tenants to your property with property photos, list of amenities, maps, nearby retailers, and demographics.
Signage
Visible signage is important to passers-by that may be interested in growing their business. Clean, concise signs can help drivers easily identify the property and contact information.
Online databases
Tenants are searching online databases more than ever before. Being a part of major online listing services can bring qualified tenants in for a walk-thru. Stack the odds in your favour by adding multiple photos, brochure and maps to the listing.
Demographics research
Get a full demographic report of your area, including population, median house-hold income and density. Attract quality tenants with up-to-date demographic information.
Competition
A full “comparables summary” will show your property side-by-side others in the area. See lease rates of similar buildings and compare your building amenities and location versus the competition.
Traffic counts
Researching the traffic counts of your nearest intersection(s) will provide helpful insight. High or low traffic counts will appeal to different tenants
5 Tips to Selling your Commercial Property
Five tips include how to establish a pricing strategy, understanding investors, marketing your property, property details, and tips on how to find the right commercial real estate agent for you.
• Establish a pricing strategy
• Understand investors’ points of interest
• Marketing your property
• Property types and details
• Much more!