If you want to fill a vacancy in an office building you need to go out and find the tenants, not just wait for them to find you or make a property enquiry. Far too many agents wait for the telephone to ring when it comes to creating enquiry and leasing any vacant property.
Now I will say that there are differences in the way you lease ‘open listings’ versus ‘exclusive listings’. ‘Open listings’ are a process of luck and should not take much of your time when it comes to marketing and promotion; perhaps you can put up a signboard, put up a basic internet listing, and list the property in your generic marketing material. ‘Exclusives’ on the other hand are very special and require real effort; that is where you go out and find the tenants. Sure, you will be doing the generic things as well in property promotion, but you will be going much deeper on effort and getting the message about the property to the right target audience.
To attract more commercial office tenants you can set up and sell the entire property leasing package. Consider the following for starters:
- Location – Is the property well located and can you build a story of occupancy around that? There are likely to be tenants specifically wanting to be in that location; determine what the driving factors of occupancy are likely to be when it comes to location.
- Floor plates – Most tenants like versatility in floor layout. To do that they require plenty of space and flexibility in the floor plate size and configuration. Larger tenants like to have the majority if not all of their people on the one floor. It helps for business function. Conversely small floor plates in a high rise office building only apply to small tenants and small business. Design your leases to suit whole floor occupation and make good where you can find a tenant of suitable size.
- Fitout quality – As with most businesses today, a professional image must be given to customers when they visit an office. The tenant must then have the ability to establish and maintain the visual impact and customer comfort they require in fit out. In newer buildings it is wise for a landlord to set standards of lease documentation as well as fit out construction. All tenants in the one property can then complement each other when it comes to business like and professional image.
What you are doing here is making the property more attractive to the tenants in the market today. It makes it a lot easier to approach and directly pitch your exclusive leasing appointments to qualified and targeted tenants.