Commercial Agents – Rental and Leasing Strategies for Commercial or Retail Property Today

When it comes to renting and leasing commercial property today, the ultimate target should be to establish a stable and professionally prepared lease that encourages cash flow on the property over future years. Every landlord will have a different focus points and ideas relating to their investment. It is important that the lease matches the intentions of the landlord. The commercial agent needs to understand what the landlord wants to do and how the plan should work.

So when you find a tenant today, it is critical to know the lease terms and conditions that will be presented to the tenant. Hopefully you will have advised the landlord at an earlier stage so that the critical decisions here are well understood and have been set.

The different types of rental strategies to consider in commercial property include the following:

  1. The outgoings for the property should be identified and quantified. It is possible that the landlord will want to recover some of those outgoings from the tenants within the premises. This matter becomes more complex when it comes to multiple tenant occupancy in large premises such as shopping centres.
  2. The property type will have set trends and averages in the local area when it comes to lease procedures and rental levels. Ensure that you understand the factors here so that any advice that you give to the property owner will be accurate and correct as it relates to the property market at the moment. Market rentals change frequently, so speak to a number of other property agents and property valuers who can advise you of the recent benchmarks and new property deals locally.
  3. There is a significant difference between gross and net rental. The main difference is the recovery of outgoings and how it will occur. When it comes to a gross rental, the tenant is only paying one amount of money so the landlord has to gross up the rental to include the outgoings component that they would have normally recovered in a net rent situation. When it comes to net rental, the landlord will set a base rental above which the tenant will contribute towards particular outgoings relating to the tenancy and or the property. Clearly some decisions need to be made here before a tenant is located.
  4. When a lease is under negotiation, the factors of lease option come into discussion in cases where the tenant wants to remain in occupancy for an extended period of time after the first lease term. Options are useful property investment strategies although they do have limitations and frustrations from a landlord point of view. One option may be acceptable to the landlord after the initial term, but numerous options of three or four years for multiple renewals are to be discouraged. Multiple options remove the control of the property from the landlord and this can be a negative factor at the time of renovation or relocation. Options of this type also impact the property at time of sale.
  5. The rent reviews to be set for the growth of rental over the lease term should be discussed with the landlord prior to the location of the tenant. It is preferable for the landlord to set their own rules regards rent review processes rather than let the tenant dictate lower levels of rental escalation.

The rental strategies in commercial property are complex and critical to the future of the property. Take time to carefully consider the rental strategies with your client the landlord, prior to undertaking any special marketing campaign relating to leasing and tenant location.

Commercial Agents – Tips to Qualifying Commercial Tenants Today

When it comes to leasing commercial or retail property today, the selection of tenant will be fundamental to the quality of the outcome for the landlord. This says that not all tenants will do or be acceptable when it comes to leasing vacant commercial premises.

So the commercial real estate agent has to qualify and understand the tenant that is enquiring on the vacant property before matters proceed. Some questions need to be asked to get the correct match of property.

When fewer properties are selling, the lease activity tends to be higher. Successful businesses still need to operate from quality commercial or retail premises. This is an opportunity for commercial property agents that specialise in commercial leasing.

So let’s go back to commercial property leasing and the elements that should be considered when qualifying tenants. Here are some key factors to consider before you start:

1. Understand the capabilities of the property when it comes to tenant occupancy. Things to know will include services, amenities, and size of tenancy, improvements, fitout design, and availability, term of lease, options, rental requirements and type, and landlord plans for the property. The permitted use or legal use of the property should be understood as part of this process.

2. Get a full brief from the landlord as to the type of lease that they will do for the premises. A lease can be varied and negotiated, but you have to have the landlord’s base requirements before you start. Ask the landlord about rent levels, lease terms, option periods, preferred tenant, renovation and maintenance plans for the property. These facts should be in parity to the comparable properties in the local area that are also on the market to lease at the moment.

To qualify the tenant you can take the following approach:

  • Find out where the tenant has come from and if they are moving from another property. It is likely that the timing of the move will have impact on your negotiations and inspections.
  • What does the tenant know about rent and properties in the local area? Have they looked at anything else in the area and if so what? It is best to know what you are up against early in the inspection process.
  • Has the tenant been looking at other property with other agents and are negotiations underway elsewhere on any ‘short-listed’ property now? This will have an impact on your discussions and inspections with them.
  • What levels of rent and lease term does the tenant have in mind? Make sure you find out about the extras of lease occupancy such as outgoings payments, and consumables including electricity, gas, water, and communications.
  • Will the tenant require a long lease term and or an option period for a further term? This may not always suit the landlord.
  • The numbers of tenant staff and the type of business will have impact on the improvements and fitout in the property. Ask questions about things such as car parking, loading and deliveries, office configurations, hours of operation, security, access, customers to the property, and quality of fitout.

So you can do a lot with a tenant before you take them to a property. Importantly this information is captured into your database. As a general rule do not give out any property information until the tenant has told you everything that you need first.

If a tenant is also or has been dealing with another agent, be very careful to check that they have not seen any of your listed properties with other agents earlier.

Top 10 Social Media Apps Which Gained Immense Attention in the Year 2016

Social media is a great way to interact with people and share your interests, thought, and likings. Over the years since the day internet launched, apps like this have been floating around like anything. All kind of apps from daily life to social to personal. It’s all there to make our lives that little more convenient. There are many apps we all are familiar with and using on a regular basis like it’s a part of our lives. However, there are still quite a few apps not everyone is familiar with or using.

Here is the list of top 10 social media apps which gained immense attention in the year 2016 and are insanely addictive as well as productive.

1. Tumblr

One of this year’s biggest hit. This app lets you share your thoughts, posts; it’s like running your own blog channel. Through Tumblr, you can interact with people with same likings and thoughts. You can follow what others have to say, post, opinion about your favourite fandom. Tumblr is very easy to use as well very easy to understand.

2. Quora

I too got addicted to this application all through the year and maybe I’m still. This app lets you post any query (Quora) and let you read other’s queries. You can improve and gather much information through this app. For your intellectual hunger, this app is for you.

3. Whisper

Have some secrets you want to tell someone. Have any confessions to be confessed. This app will let you post anonymously, you can post everything or whatever you’re holding back without having to reveal yourself. You can chat with anyone anonymously. Whisper has gained many eyes through its creepy, clingy, funny, weird confessions.

4. Goodreads

Are you a book nerd? I’m for sure. This is a wonderful application for all the book lovers out there. Through this app, you can track all the books you’ve read or want to read. Comment on your daily progress with a book. Review your book. Chat with other book nerds. Create or join book clubs. A drama paradise for every book nerds.

5. Amino

We all follow some fandom or another. For your fandom craving, you can simply install this amino app of your favourite fandom or start your blog and write a comment on someone’s post and definitely chat with another Potterhead, Directioner, book nerd and more.

6. Yik yak

Once you download this app, I can bet my life you’ll live it. This app has gained massive popularity this year because of its individuality and uniqueness. This app lets you share/post question or discussion thread under 5 Miles radius. You see, write, chat anonymously to and with anyone under 5 Miles radius. This app sure is a famous app to spend time on for campus students.

7. Pinterest

This app will surely be your favourite spot to spend time as it displays everything of your liking. You can select your interest and then the app will display only and only posts related to the topics you’ve selected.

You scroll through different and bazillion article or DIYs relating to the topic of your interest. A perfect time pass!

8. Peach

Missing Vine already. Peach is an app created by the co-founder of the Vine name, Dom Hoffmann. Peach is a combination of all social media app with more fun and uniqueness. This app allows the users to interact with other users holding similar interests through hashtagging. This app has quickly expanded its mainstream popularity.

9. StumbleUpon

This app is pretty much like Pinterest. StumbleUpon is your one-stop solution for all your interest. Like Pinterest you’ve to select your topic of interest and the app will gather all the highlights, app, news, posts relating your interest. You can meet and chat with other people with similar interests as you.

10. Wanelo

We all are fashion savvy. This app will let you see all the information and offers available or given my big brands you like. You can scroll down through your favorite brand’s new outfits and save it to the cart as well as see what your Neighbours have wearing or what’s trending in fashion. Pretty much a fashion paradise for all the women out there.

So these were some of the most popular social media sites for the year 2016.