In 2017, you can expect the real estate market in the United States to get a lot busier and more competitive. Experts predict that there will be substantial increase in real estate investment and transaction volumes. While this is good news for the real estate market, it also means that it will be even more difficult for landlords to stay relevant and competitive in the industry. Thus, it is absolutely necessary for commercial landlords to adopt innovative business tactics for maintaining economic success.
The key to maintain a strong client-base is adhering to the basic principles of supply and demand. As a landlord, you should know and understand the needs of your clients. You can use this knowledge to develop effective marketing and sales schemes for your property. If you’re having trouble with figuring out how to improve your property, then this article can help you get started. Here are 11 ways to attract tenants for commercial real estate:
1. Equip Your Building With Fiber-Optic Internet
These days, all commercial clients need access to reliable and speedy Internet. No competitive business can survive in today’s economy without using Internet for daily tasks. If you are able to offer the reliability and efficiency of a Fiber-Optic Internet connection to your tenants, then that sets you apart from your competition.
2. Optimize Your Building’s Energy-Efficiency
Entice commercial entities to avail your services by promoting your efforts in energy-efficiency. Help them understand that your “green” efforts are not only good for the environment, but they are also helpful in reducing their energy expenses. Commercial tenants can fulfill their corporate social responsibility to help the environment while saving costs at the same time.
3. Offer Accessible Parking Amenities
Parking can be a struggle especially in booming urban communities. When it comes to real estate rentals, inaccessible parking amenities can be a deal breaker. Landlords should make an effort to invest in parking infrastructure or partner up with local parking amenities. Business tenants will greatly appreciate your efforts to improve parking access.
4. Maximize Your Building’s Spaces by Making Use of Shared Amenities
Offer your tenants more bang for their buck by providing additional shared spaces that they could use. Perhaps you could convert extra spaces into conference halls, recreation rooms, libraries, or even fitness facilities.
5. Regularly Perform Performance and Satisfaction Surveys
Clients will appreciate it when you regularly make conscious efforts to know how they feel about your property services. It tells them that you value their opinion and are always looking for areas of improvement.
6. Sell The Cost-Effectiveness of Your Property
In connection to items listed above, you should sell the cost-effectiveness of using your building’s commercial spaces. Inform prospective tenants on the savings that they can make by renting a space that offers accessible parking, energy-efficient infrastructure, and high speed Fiber-Optic internet technology.
7. Implement Conservation Policies in Your Building
Increasing tenant engagement also adds value to your property. You can increase your tenant engagement by implementing conservation policies that promote recycling and segregation. It shows that you are environmentally-conscious and community-oriented.
8. Do Your Homework on Market Demands
Demands can vary depending on where you are and how big your property is. Do your own research on the needs of your market and adjust accordingly. For instance, if your building is situated in a technological hub, then it is absolutely necessary for you to invest in Fiber-optic Internet connection.
9. Upgrade Your Building’s Security
Having proper security in your establishment is of utmost importance to commercial tenants. You want to make sure that their physical and financial safety is not something they have to be worried about in your building. Invest in having patrolling security guards and CCTV systems in place to assure your clients of their safety.
10. Upgrade the Aesthetics of Your Building’s Exterior
It seems like a simple tip, but the aesthetics of your property matter greatly to prospective tenants. Invest in a proper cleaning staff to maintain the neatness and orderliness of your property. Try hiring professional landscapers to improve the greenery around your building. If your building is easy on the eyes, then that’s always a plus.
11. Showcase Neighboring Amenities
Market your property by marketing your community. Don’t forget to showcase the diversity and accessibility of nearby amenities. Include neighboring parks, restaurants, gyms, parking spaces, and other commercial establishments in your marketing efforts to boost the value of your property.
Upgrading Your Building’s Internet Connection
Take the first step in upping your real estate rental game by improving your property’s Internet connection. Fiber-Optic Internet connection is the future, and you don’t want to miss out on an opportunity to stay ahead of the curve. So what are you waiting for? Click this link and sign up for state-of-the-art Internet technology now. You can be rest assured that by hiring the professionals at FiberX, you will be getting the best value for your money when it comes to Internet services.