Commercial Leasing Brisbane
Leasing your Brisbane commercial property effectively can have a big effect on you, both financially and personally.
No matter the reason, you have a few key factors to consider when finding the right tenant.
Here are five basic tips to assist you when making the decision to lease your commercial property.
1. Present Your Property Well
- Employ a good agent to appraise leasing potential of your property.
- This will enable you understand where you property may need improvement to get the best leasing result.
- Don’t assume it will be a costly exercise…the long term benefits will far outweigh the short term cost, if there is any. It might be as simple as a lick of paint.
Benefits – A well presented property will achieve a higher value in the eyes of the lessee, therefore a higher lease value to you, the lessor.
2. Engage the Right Agent
When it comes to selecting your agent, consider these two key factors:
- Does the agent have leasing success in your area?
- Does the agent have the right attitude and skill set to assist you achieve your commercial property leasing goals?
Benefits – If the agent has a positive, passionate and understanding attitude towards you, your goals, and your commercial property, this will flow through to all stages of the leasing process and make for a easy experience. Second to this, an agent with authority in your area will easily ensure credibility from the potential tenant.
3. Set Clear, Mutual Goals and Expectations
- The communication between agent and vendor during the leasing process needs to be fluid and honest.
- Mutual goals and expectations must be set. The agent must honestly walk you through all of the ins and outs of the leasing process, including the recent leasing history in the area and how your property sits in comparison.
Benefits – This will set the expectations of the relationship and ensure everyone is on the same page when taking the property to market for lease.
4. Go Exclusive
- Give yourself, and your agent, sufficient time in the marketplace (as agreed above when setting mutual goals and expectations) to optimise your leasing result.
- Why dilute your offer, confusing the unique selling propositions (USPs) of your commercial property by having multiple agents?
- Multiple agents do not equal a fast, cheap lease. In the eyes of the market they more often than not equal a desperate leasing need. The right agent will ensure you have a marketing strategy for leasing your commercial property that is cost effective and well planned, relative to the state of the market.
Benefits – One agent will take 100% ownership of your important asset. By them solely owning the solution you will achieve your desired goal.
5. Invest in Vendor Paid Advertising (VPA)
- You can’t lease a secret and you can’t undersell your product!
- Listen to the agent. Make sure you invest in media channels that they recommend will give you the most effective return on investment when leasing your property.
- If you have picked the right agent, they won’t be telling to you spend outlandish amounts of money on press advertising with a one day shelf life. They will be giving you bang for buck options that enhance you property’s perceived value.
- Importantly, always present your property with professional photography.
Benefits – It is simple but true. Advertising showcases your listing to a wider net/audience. This will in turn create more demand and push up your commercial property lease price.
For an effective Brisbane commercial property lease.
Contact me for a no charge commercial property appraisal.
No obligations, just honest, quality feedback.