Top tips to lease your commercial property

The leasing market is a very competitive place. Making the right first impression and standing out from the crowd are crucial to successfully leasing a commercial property.

To find out the best ways to do this, we spoke to the experts and asked for their top tips. Here’s what they had to say:

1. Choose the right agent with the right marketing plan

It’s important to choose a reputable agent, with a proven track record, who can demonstrate to you a good understanding of the current commercial property leasing market.

Colliers International Director, Office Leasing, Jock Gilchrist says a good agent “will have unique, high-exposure marketing initiatives that you can participate in at very cost-effective rates to position it above the competition”.

2. Commercial property – it’s all about presentation

Make sure your property looks its very best before an inspection. As David Howson, Knight Frank’s Office Leasing Director, says: “You only get one chance at a first impression.”

Your agent will advise you on how best to present your property and they will be there well before an inspection.

Gilchrist says they should “turn on the lights, lift the blinds, turn on the air conditioning and clear any clutter … if they are not doing this, you have the wrong agent”.

If you are at the inspection too, David Howson says you should make the effort to meet and greet the prospective tenant and give them a full overview of the building. “Show them you take pride in the building and that you are across the asset and its performance,” he says.

He also recommends doing some research on the tenants before the inspection. This way you can provide a comprehensive tour, making sure all aspects of the building are covered and anything that may be of interest to a particular tenant is discussed.

3. Respond quickly

After an inspection, Howson says it’s important to “farewell the tenant with detailed information of the property and a reason to follow-up”.

With a competitive commercial property leasing market it is critical that you respond quickly to questions. “Work with your agent to ensure any tenant queries are addressed promptly and lease proposals are issued quickly once requested to ensure maximum positive engagement with tenants,” says Jock Gilchrist.

4. Appoint the right consultants

Gilchrist’s final advice is to make sure you have the right consultants in place when negotiating a commercial property lease.

“If you have the right agent, they will also be able to assist you with appropriate marketing and fitout/design consultants,” he says. “It is also important to engage good solicitors to ensure that once commercial terms are agreed a lease can be finalised promptly and with a minimum of fuss.”