1.Offer them an irresistible location
Location is one of the primary concerns of commercial tenants. Naturally, they need a space where they can be seen by customers. They also need a space where they can actually sell. Not only does your commercial property need to be in a prime location, but their space within the property should also be strategic. Maybe this resource will help you to pick the ideal location for your investment property.
Show prospective tenants that their space will be beside stores that will complement their type of business. For example, you could put their popcorn stand next to the movie theater, or you could put their shoe store next to a cluster of clothing stores. Once you assure your prospective tenant that they’ll be placed in a strategic location, they’ll be more likely to sign the lease.
Location is an important factor in commercial real estate investment. When a commercial property is at a good location, it will attract tenants to the property and retain them there. It will also attract the customers of your tenants to the property. As a result, you as the owner of the property can demand the higher rent & price for the property.
3. Perform Tenant Satisfaction Surveying
4. Understand Your Market
5. Keep Track of Local AmenitiesCreate relationships with local vendors who offer amenities that could be beneficial your tenants, such as coffee shops, catering vendors, dry cleaners, or business data specialists. Some landlords may be able to negotiate “first time client” discounts and coupons for their tenants from local vendors who are hoping to expand their business. Create a list of recommended local amenities with your prospective tenants and existing renters to let them know about local services.
High-quality photography should top your list. When it comes rental properties, potential renters will judge your book by its cover, so you need to make sure your photographs stand out.
7.Know the Law Before You List
Before you look for tenants, make sure you understand Fair Housing laws. These laws came about as a way to prohibit discrimination against tenants based on their gender and race. But they aren’t the same as they once were. In fact, they change constantly and are even more complicated. These laws tell you how you can advertise your property and can guide you through your responsibilities as a landlord, But what about forms? You may be able to download the paperwork you’ll need online, including applications, consent forms, and lease agreements. You may need to enlist the help of an experienced attorney if you plan to draw up your own package of paperwork. Determining a good prospective tenant can be challenging. Even if you were legally allowed to judge them based on your intuition, experienced landlords will tell you that there is never a perfect renter and that gut feelings are often wrong. But be sure to ask for references—and contact them—and get a credit check on any applicants.
8. Kitchens and Bathrooms
Kitchens and bathrooms make or break your apartment in the eyes of a potential renter. Both rooms are going to be used frequently every single day, so you want to make sure that both are laid out well, with nice features. As discussed before, having updated appliances in your kitchen is critical, but what is often overlooked is storage space. Kitchens need a lot of storage space for food, spices, utensils, and smaller appliances, so having a good amount of cupboards is important. With bathrooms, the more counter space the better. Similar to kitchens, you want storage space and shelves for things like toiletries, towels, and cleaning supplies. Having a large mirror is very important in a bathroom as well.
9. Emphasize what makes your property better than your neighbors
Walk down the street, looking at your property and the ones around it. What makes yours better than the others? If there’s something lacking (like the above windows and yard, or anything else you notice), then you’ll want to make up for that. Is there something you have that’s better than the other houses in the neighborhood? Make sure to emphasize that, both in upgrading the property and in your marketing later on.