There are currently many available commercial options on the market, but how can you make your property stand out from the rest? We have provided some industry tips which can improve your asset and make it more attractive to potential investors.
Ensure your property is well maintained. The asset should be visually appealing, with a well-maintained interior and exterior. Those first impressions can be critical even when it comes to securing a viewing. Minor improvements such as painting and deep cleaning can be very effective with small capital expenditures.
Making environmentally conciseness improvements can increase the value of the property by reducing operational costs. The changes can be as simple as insulating the property and switching to efficient light bulbs. Many governing bodies will also provide grants to help with larger capital outlays such as solar panels. If you are looking to attract large companies, keep in mind that many have corporate social responsibilities, and will only occupy energy approved assets.
KNOW THE MARKET
Research the market and find asking and sale prices of similar assets. This will give you an advantage in the sale negotiation stages. If you’re looking for a quick sale, ensure the property is listed at the market asking price. Many investors will use a property search engine and filter the price ranges if the asking price is too high; your asset will not appear within the search.
KNOW YOUR PROPERTY
If you own a commercial building be aware of what type of tenants will be able to occupy your building, for example, which license they hold and if their business operation is approved. Gain as many government approvals as possible in order to accommodate as many tenants as possible.
HIGH OCCUPANCY RATE
Having a high occupancy rate will make your property more attractive to an investor. This can be achieved through leasing units at the current market rate, securing tenants with good covenant strengths, longer lease terms, good unit mixes and effectively using the available sq.ft area.
Use an experienced brokerage that will give your property the exposure to the market that is deserved. A good real estate company will have a database of potential investors and will also have a planned marketing strategy tailored to your requirements.