Commercial and Retail Property Leasing – How to Be Pitching for a Landlords Listing

In investment property the landlords that own premises always require leasing assistance. Rarely will they turn down the offer of a genuine tenant at a market rent. For this reason, if you as a real estate agent focus on the control of your market and the tenants that are active or potentially active, you will create more opportunity for listings. Landlords will listen to you. More of your presentations and sale pitches will convert to listings.

Landlords want the best agent when it comes to leasing the vacancies that they have. Your database of enquiry from your local market is foundational to attracting landlords to your leasing services. So if you want to control your leasing market, focus on your database and the enquiry that sits in it.

When you pitch for landlords vacant premises to lease try these rules:

  • Show them the size of your database as a bulky document that they can feel and see. Put it on the table during the presentation or pitch.
  • Talk to the landlord about the recent market rents that have been achieved which other comparable properties in the area. Explain the advantages and differences between gross and net rents as you see it for their premises.
  • Explain what incentives are out in the market to attract tenants in today’s terms. It is likely that your landlord will need guidance or help with the incentive structures and decisions.
  • Make sure you have inspected the property in detail so you can talk to it and the property features around which you will build your inspection and marketing strategies.
  • Identify the target market that will be attracted to the property and just how you will tap into that target market.
  • Explain what the situation is like currently regards the time on market for the leasing of premises. What is the vacancy factor in the area or region that can impact on the landlords leasing requirement?
  • Tell the landlord what you consider to be the essential facts that tenants require in today’s leasing situation
  • Give the landlord an idea of how the best lease could be structured, what the rents are, and how the rents could be improved over time.
  • Talk about the permitted use and the zoning of the premises that will have impact on the future leasing strategy.
  • How do the services and amenities in the property suit the current enquiry for leased premises?

Landlords in this property market need help from agents to find tenants. Rarely will a landlord really have all the resources and solutions available to lease the premises that the local real estate agent has. These 10 facts above will help you show that you are the real estate agent of choice to market the vacancy for the landlord. If the vacancy and property is of high quality, insist on getting an exclusive leasing agency appointment so you can focus your efforts on the market and the premises for at least 8 weeks. If the property has not leased in that time then something else is impacting the marketing or the enquiry base.

Tips To Get The Perfect Tenant Mix for Your Retail Property

The ultimate goal for any landlord is to achieve maximum income from their retail property. However, that does not imply that they must lose focus on the bigger picture and let their space to any retailer who is interested in the property. Maintaining the perfect tenant mix in the property leads to increased foot traffic, greater spend, delighted tenants and ultimately more demand and better rates for the property.

Read on to find out the five ways to create the ultimate blend of tenants for a retail center.

Study the demographics of the environment

The demographics of the nearby locations play a vital role in determining what kind of retailers will best tick among the shoppers. Conduct surveys and collect information pertaining to what your target customers would like to see in the area around them. For instance, pharmacy stores may be a valuable addition for an aging population.

Talk to your existing tenants

Existing retail tenants may be a good source of providing insight into what brands and products can add more value to their own store and ultimately to the landlord. Analyze the performance of the stores and take a deeper look into their strengths and weakness and build ways to overcome or enhance them.

Mix brands and categories

A retail center that draws a balance between the big and the small brands and has a wider collection of product categories than simply focusing on part of the demographics enjoy better foot traffic. Choose tenants from various product categories and be sure to include local retailers who always have something new and fresh to offer. Look beyond the retail line up and set up service facilities like ATMs to optimize the time and effort spent on creating the perfect tenant mix.

Make market assessment a part of the responsibility

Tenants come and may go at the end of the lease. This may interrupt the existing interconnections within the retail space. For instance, men visiting your retail center to buy baby diapers in one outlet tend to grab a few drinks at the next one. Retail centers must continually invest time and effort to assess the market and ensure that their tenant mix is optimizing the overall performance.

Hire a good commercial real estate property company

Commercial real estate property management services have mastered the art of using several proven techniques in finding the right mix for any kind of retail property. They study the area around the property, analyze the geographical pros and cons of the place and have seasoned real estate experts to work on the tenant mix. They perform competitor analysis to check what products and services are missing in the area and also work towards acquiring high quality tenants for the property.

Landlords and real estate companies can use real estate property management services to manage tenant relationships from the start till the end while they focus on other core activities.