When building or renovating a new commercial space, you want to make sure that the tenants who fill the space will contribute to the value of the property and improve your investment. This means that you need tenants who will draw plenty of business to your property and generate revenue to ensure that they can meet the terms of their lease.
There are several things that commercial property owners should consider when building or renovating their property that can help them attract excellent tenants who will add value to the property.
- Have an attractive and aesthetically pleasing building. Buildings and office spaces that look well built, clean, and professional are automatically going to attract good tenants. The appearance of your property matters to both your tenants and your tenants’ customers or clients, and so it is important that you can provide your tenants with a space that they can be proud of.
- Make sure the building is in a good location. Tenants will want to have their space visible to drivers and passersby to attract business. Making sure that the building is clearly visible from the street and in a populated area of town is an excellent way to increase the visibility of the space, which can in turn help your tenants generate more business.
- Know the kinds of tenants who will use your space. Is your building better suited for an office atmosphere? A retail establishment?A medical facility? Knowing how your space will be used will ensure that you can reach the right market when it comes to finding tenants.
- Make sure that the space lets in plenty of light. Studies consistently show that employees and employers alike are happier during the day when they have access to windows and natural light. Providing a space that incorporates plenty of light will help attract tenants.
- Promote energy-efficient systems. Not only is going “green” good for the environment, but will help keep costs down on your tenants’ utilities as well. This will help your tenants increase their profit margins overall.
- Build flexible space inside. Try to make each unit a space that can be altered or adapted according to your individual tenant’s needs. This will let tenants use the space for everything from a large conference room to small offices, depending on how they intend to use the space.
- Provide adequate signage. Another way that businesses can attract clients or customers is to visibly promote their business. Having a sign outside the easily visible buildings and that can feature the name of your tenants is a way to help promote your tenants’ business.
- Improve the security of the building. Tenants want to know that they and their commercial spaces are safe. This can include hiring a security guard for the lobby or installing security cameras.
By following these tips, you can attract the kinds of tenants you want for your space.