Renting Commercial Properties: What Businesses Want To See In A Space

By
Real Estate Technology with Husky Marketing

Renting out commercial properties has seen a bit of a challenge due to remote work. The number of empty office buildings makes it so important to stand out. Remote work is the future which could lead to some of these commercial spaces being used for residential properties. Renting out prime real estate for commercial purposes can still be such a profitable venture. Certain cities are growing due to a migration of people which is leading to businesses popping up on a daily basis. The following are aspects of renting out commercial properties that businesses want to see. 

Great Central Location For Employees

A great central location can help attract top talent which is very important for nearly any company looking to rent office space. There are going to be various parts of a city that are hotspots for certain types of businesses. Restaurant space in an area with heavy foot traffic is going to be ideal for those looking to rent out the space. Clients that are visiting a city will also want an area close to the airport or a number of business accommodations. Central locations should be safe as security for customers and employees should be a priority. 

Aspects That Help The Property Stand Out

The property should stand out for the right reasons whether they fly a flag supporting a cause or for its unique look. Finding a California flag for sale is a great example as state pride can be very important to businesses. Don’t underestimate standing out as businesses want a location that is easy to find. Businesses can even note the various aspects of the building that make it stand out from the others in the area. Keep in mind that this doesn’t mean painting a building such an offensive color that nobody wants to rent. 

Perks For Renters 

Perks for renters like free parking in cities like San Francisco and New York City can be very valuable. These cities can cost thousands of dollars a year to find prime parking. The ability to have a car in these cities without paying for parking provides ultimate convenience when venturing outside of the city. A gym in the building can also provide convenience as most people like to exercise either right before or after work. Restaurants in the building are also a great perk that can maximize the revenue for those that own the building. 

Flexible Lease Terms To A Point

A business might be in its infancy so a long-term lease might not be the best option. The truth is that most startups do not make it more than a few years. You might want to find various ways that a tenant can break a lease including finding a replacement tenant. Buyouts are also available if you have a renter lined up who can maximize the revenue on that specific unit. Subleasing can also occur if a business simply rented too much space for the rate that they are growing at. The flexible leases might be able to attract businesses to the space with remote work being so convenient for companies and employees. 

 

Renting out commercial real estate can be such a profitable venture when attracting long-term tenants. Do not underestimate the importance of doing something a bit extra when trying to rent out space.

Comments (1)

Kristin Johnston - REALTOR®
RE/MAX Platinum - Waukesha, WI
Giving Back With Each Home Sold!

Great information.   Thanks for sharing and enjoy your day!

Oct 15, 2022 07:29 AM