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Essential Commercial Real Estate Leasing Tools to Use with Landlords and Tenants

The commercial real estate leasing process is quite special.  You can work with tenants or landlords, but either way you will need some local area information and the tools to help you through any property inspection and negotiation.

In this audio, I share my thoughts on the tools that are most effective when it comes to engaging with landlords and tenants as they strive to arrange a lease on market conditions.  (NB if you need ideas to help you with leasing, you can get them here in Snapshot – its free)

Given that you know the property market and the trends in leasing, you can develop a ‘toolbox’ like this to create better real estate negotiations.

You can get the audio right here:

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Cut to the Chase with Commercial Property Vacancies

A vacant commercial property is a significant frustration for an investor.  They are loosing out on rents and outgoings recovery.  Over time that can all add up to a large amount of money and financial discomfort.  Look at vacancies for the opportunities that they are for you in leasing brokerage.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

Survey the local property market so you can find the listings and properties that need a vacancy solution.  Approach the investor owners directly.  Work with tenant mix challenges and vacancy problems.

In this audio program, John Highman talks about the advantages of working with vacant properties and providing specialized leasing services.

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How to Prepare for a Commercial Property Lease Negotiation

Staircase with marble landing and balconies
Prepare comprehensively for your commercial property lease negotiation

If you have had a bit to do with tenants in leasing any commercial or retail property you will know that they can really delay things for their own reasons, thereby impacting the landlord in negotiation and slowing the agent as to finalizing the deal.  As the leasing professional your job is to work with that challenge and encourage agreement to the benefit of the client.

(N.B. these ideas are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage results…. Get your access here)

Understanding the tenant’s situation now and applying that requirement to the current property market will help you with activating and progressing the lease deal.  That then means a better negotiation.

The tenants focus?

Good questions and research will usually help you to get to the tenant facts and motivators.  As you move through that, don’t forget just who your client is in the process and how you are representing them through the process of leasing.

Here is an interesting leasing based question for you. Can you believe what at tenant tells you about the property lease requirements that they have?  Perhaps not totally, however you can ‘read between the lines’ of what the tenant is saying and doing, and get to some of the real facts of what is happening in their business world.

A good outcome?

A good lease negotiation is generally a result of the leasing broker informing the parties to the deal, then discussing, listening, and seeing through the challenges.  Though all stages of the inquiry, inspection, and meeting process you can find out more of the tenant’s requirements and priorities.

So what really goes on in a lease negotiation?

The balance of any lease negotiation will shift and change based on just how much available space may be in the property market at any point in time; you have to prepare for that variation.  It directly follows that you should be prepared for any and all of these tenant ‘delay’ tactics:

  • Looking around at other properties
  • Comparing rents across the market and between vacant premises
  • Comparing properties and the improvements
  • Incentives to sweeten the deal
  • Slowing discussion to make a decision
  • Wanting to change lease conditions
  • Asking the landlord to do some internal fit-out works
  • Seeking early access to the premises before documents are signed
  • Fit Out approvals slowing
  • Plans of the fit-out not available

There are many variations as to what a tenant will be looking to do with a lease negotiation.  As the professional, you are to guide the process and negotiate through these barriers and many more.  Control and research are the keys to any successful commercial property lease negotiation.

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A Property Vacancy is a Real Opportunity in Commercial Real Estate Brokerage

 

Commercial real estate podcast

Look for the vacant properties in your local area, you will find leverage in working for those landlords.  They will be highly motivated to fill the vacancy and listen to you as you make recommendations about property market conditions.

(N.B. these audios are also sent out to regularly to our friends in Commercial Real Estate Online Snapshot to help amplify brokerage business results…. Get your access here)

In this audio I talk about how you can do more with vacancies and how your professional services should be positioned within that.  One other special note here is that your database in leasing will give you massive momentum if you structure it and grow it over time.  In the audio program I talk about how you can use that to build leasing leverage.

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Podcast 228 – Commercial Real Estate Online by John Highman

Commercial real estate podcast
Commercial Real Estate Podcast

In this weeks podcast I have covered a number of topics that feed into leasing and property management activity.  There are 6 parts to this weeks program.

  1. How you can adopt a ‘robotic’ approach to commercial real estate brokerage and why that may be helpful to your career as an agent or broker.
  2. What you need to know about commercial real estate prospecting and how to approach the process successfully.
  3. How to understand and use the rental structures of leasing in property performance.
  4. Why vacancies are an opportunity for brokers today and what you can do about that.
  5. Establishing a blueprint approach to tenant advocacy work as an agent or broker.
  6. The 5 important rules to cold call prospecting in property today.

These are commercial real estate training programs by John Highman.  You can get more tips and ideas about commercial real estate brokerage from our eCourse ‘Snapshot’ right here.