As a real estate agent in a market that is ever changing I have found that leasing is good commission cash flow when sales slow or become more difficult. Versatility to do both in this property market is quite important.
There are plenty of businesses out there that want new premises or to take advantage of lower rents and incentives. So how do you tap into these businesses?
Try this list:
- Look for lease expirees 12 months out so you can help tenants with relocation opportunities
- Talk to all the businesses in the local area and get to know all the business leaders. Some will own their premises and others will rent
- Look for those businesses that are running out of space
- Check out the older buildings where the tenants might be wanting to upgrade to better building services and amenities
- Talk to the local planning authority so you can identify any changes to supply and demand for vacant space in the local area
- Keep up to speed on the number of new developments coming up and what lease incentives are being offered.
This is a simple list and yet an effective way of building real lease opportunity from tenants and businesses in your area. The more that you know about businesses and relocation pressures in key properties the higher value you are to landlords and property investors in the local area. Opportunity awaits in commercial property leasing.