In any competitive leasing market, it’s important to hunt for new quality tenants to fill your vacant spaces. For any property owner, vacant units are often the biggest expense component and can cost them thousands in monthly fees. Empty spaces make no profit and cause them to waste money on utility bills and taxes. If you want to attract the right tenant for your commercial property, SSS Commercial Real Estate will provide helpful tips to attract the right tenant for your property.
Here Are 4 Ways to Attract the Right Tenant for your Commercial Property:
1. Make them valued clients: Tenants in commercial properties are business owners. They know how to value customers and they will appreciate it when treated as valued clients. Quality tenants will continue to lease for many years, so you should give them rewards after using your property space for a specified number of years. Consider offering annual appliance maintenance or a fresh coat of paint every three years.
2. Give them something out of deal: Commercial tenants know that they are getting a good deal if they receive regular bonuses. By offering a small incentive, like tenant improvements to small businesses, you can enhance the appeal of your property. Incentives will make your property appear more competitive as well.
3. Understand your tenants: Research the prospective commercial tenants in the area and ask property managers and real estate agents about commercial tenants in their market. Find reasons why people choose a location to set up their business. It could be because of easy access to transportation or its proximity to population centers.
4. Focus on benefits: Fully featured commercial buildings are not always appealing if those features are not beneficial for businesses. You should create positive emotions that make aspiring business owners want to rent your property. Small business owners are fully aware of the concept of value, so try to offer the highest possible value compared to the competing commercial properties.
For more information on Alaskan commercial real estate, contact SSS Commercial Real Estate today.
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