Commercial Agents – 3 Tips for Leasing Commercial Property

When working as a commercial real estate agent, you will come across the opportunity to do leasing in addition to the normal sales activity in the local property market. Commercial office, industrial property, and retail property, all offer leasing opportunities for your agency listing diversity and future commissions.

Knowledge of market rentals, incentives, lease documentation, and tenant needs will help you with the process of putting a lease together on a vacant property.

The Main Factors in Leasing

When considering the listing of a commercial property for leasing, there are three main considerations or tips that can be incorporated into the listing and leasing process. They are as follows:

  1. Make sure you understand your target market of tenants and what they looking for. In each and every location there will be tenancies looking towards change and relocation. From time to time tenants are also looking to upgrade their premises or adjust their occupancy costs and commitments. This is a fresh and new opportunity for the leasing of new premises. Property agents should spend time in connecting with all the local businesses to identify their property needs, the expiration of their leases, and any tenant requirements for expansion or change of occupied area. You should expect that other specialized leasing agents in the local area will also be speaking to tenants in your managed properties on a similar basis. It is therefore critical to implement a tenant retention plan to retain your tenants and minimise vacancy situations.
  2. Comprehensively market the vacant property into the local business community. When it comes to the leasing of commercial office space, history has proven that most tenants come from the existing local business community. Those businesses are simply seeking to improve their standards of tenancy occupation, or adjust their business commitment to rental and other occupancy costs. They know the local area but they need to change property. On this basis, the marketing of vacant space should occur through both the traditional and non-traditional marketing processes into the local businesses. Firstly, the property should be listed on the Internet plus suitable signage placed at the front of the property or the tenancy. Secondly, the complete details of the property should be itemised in an information brochure to be circulated through the neighbouring properties and local businesses. The process here can be greatly aided by a follow-up telephone call. Even though an existing business may not be seeking to relocate currently, they will usually advise you of their existing lease termination date. Capturing this information into your database will greatly assist future marketing processes.
  3. Identify the competition properties that have an impact on your marketing promotions. These properties may have been on the market for some time; they may even be considering a rental adjustment to lower levels to attract more enquiry. These properties will have a direct impact on the levels of rental and the marketing strategies that you adopt for your subject property. In this case the landlord should be suitably briefed so they understand the impact that these properties could have on your vacant area. Logic says that a competitive rental should be offered in your property to offset the pressures of other competition properties.

These three simple tips have significant impact on the success or failure of the leasing campaign relative to the vacancy. Set your leasing targets so you can proceed through the campaign with clarity and focus. Adjust your rental should enquiry not be generated within the first few weeks of the campaign.

Commercial Agents – How to List a Commercial or Retail Property

When listing commercial property today for sale or for lease, it is important that you get all the facts relating to the property and the ownership. Failure to gather all the information can create significant problems later when it comes to negotiating sales and negotiating leases.

The due diligence process that is later applied to the property contract or property lease can easily find discrepancies and errors that can jeopardise the sale or lease. Many a commercial real estate agent has suffered the consequences of misinformation or missing information when working with a property listing.

Always take notes from your discussions with the property owner, ask questions, and always seek third party evidence in writing of any critical items. It is surprising how important this information becomes when difficulties or disputes occur as part of the property marketing and negotiation process.

As another note of importance, the listing of a property by the agent should be formalised with the client legally and correctly. It is surprising how many clients have avoided the payment of commission because they have found a loophole in the listing process. Solicitors working on behalf of clients are well versed in reviewing and investigating the legality of the listing process.

Do not take prospective buyers or tenants to the subject property without a legal listing arrangement or authority being established with the property owner. It is also a wise move to introduce the prospect by name and in writing to the client so that any other agent for the client cannot claim the same prospect for the purposes of obtaining commission or helping the client in avoiding commission.

Here are some important facts to explore as part of the listing process relating to commercial, industrial, or retail property.

  1. First and foremost, the property ownership and the property title detail should be fully investigated and obtained. You need to know that you are dealing with the legally correct and authorised property owner. Get a copy of the property title.
  2. You also need to know exactly where the property is in relation to its boundaries and its constructed improvements. The improvements as constructed on the property should be suitably approved by the local building authority. There should be no outstanding orders or notices that apply to the property or the premises. The occupancy of the tenants within the building should be legally correct.
  3. The property title or the property location could give rise to some encumbrances, rights of way, or other interests on the land. These should always be investigated as they can be frustrations to the marketing, selling, or leasing process. Get copies of the relative documentation and review it before proceeding further.
  4. The property history and the property usage will give you some important information. Ask questions about environmental matters, heritage matters, services and amenities, property operating costs, and tenant mix.
  5. If the property is being taken to the market for sale, you will need copies of the relative lease documentation for all of the tenants within the tenancy mix. All of this documentation is to be reviewed completely and thoroughly to ensure that it is current, enforceable, and not producing any irregularities. Look for leases that are due for a rent review, a lease option, lease expiry, and outgoings reconciliations. Make sure that there are no lease defaults current, and if there are, you will need details of the status of the default and the method of resolve. When in doubt, don’t proceed with the marketing of the property until you understand the impact that the defaulting lease could have on the sale process.
  6. Check out any vacancies as they apply to the property and find out what the property owner is doing about them.
  7. Ask about any current lease negotiations that could impact the sale in timing or price. Buyers for the property can be sensitive to high levels of vacancy.
  8. If the property is to be sold, the net income and the property outgoings will be important to the pricing process and marketing that you adopt. Get all the right detail here.

The listing of commercial property is complex process that can be significantly simplified with checklist documentation that is suitable for the property type.

6 Reasons You Should Outsource Mobile App Development

I think it goes without saying, and I believe we really don’t need a backing survey, that users all across the globe have turned to their digital devices like women to fashion. In a space pervaded with compact mobile phones, innovations drive mobile users towards a legal digital predilection. On an average, mobile users spend as little as 2 hours a day interacting with their mobile screens. Of this time, they tend to devote some 30 minutes fiddling with mobile apps.

If there are more and more unique apps coming to flood the mobile app store, the reason is the fact that mobile app lovers are rising in leaps and bounds. Among all types of mobile apps, what has dominated the major portion of the app market is gaming, ecommerce, social networking, education and lifestyle apps.

However, with a market filled with both hyped rumors and excitement of challenges, many marketers happen to foster the notion that outsourcing mobile app development process leads to technical mistakes, delays in app releases, miscommunication and limited life cycle of final product.

Such misconception might lead to many hurried decisions about mobile app development, which will ultimately cost you a lot of pain. To debunk this myth lets review the top 6 reasons for outsourcing mobile app development process.

Stronger focused knowledge

Usually, App development process comprises of many critical stages that require intense attention, greater care and precise knowledge. With each component screaming for best digital tactics and utilization of modern resources, the process needs specialist app developers who have extensive experience in this area. You should outsource to a location that is a hub of outsourcing companies and that have mastered the art of creating remarkable apps with high usability, life cycle and excellent UI. They should have specialized in special genre of mobile apps and embody best knowledge in industry matters and latest technologies.

Flexibility of app development model

Having reliable expertise in special area of app development process allows companies to choose which part of mobile app process they can outsource. For instance, if an app development agency has credible experience in the QA section of App development, it becomes easy for companies to outsource the quality assurance part to receive the best results and a product that they know will achieve highest standard of quality. Such flexible model is only possible with Outsourcing mobile app agencies.

Time-saving alternative

Time is of precious value for any business, and the app development process involves heavy components from building the app, scaling up the features, using the right technology to working on its UI, deploying and testing it. All of it takes a good chunk of time before the product is finally ready to launch in the app store. Outsourcing the app development process saves you from all the tedious elements involved in the creation of an app, so that you can focus on its post-product marketing tactics and other essentials.

Ability to explore the depth

With information becoming key to any business success, different set of information compiled tactically works like a miracle in this business. Database collected by mobile app creators helps drive any mobile app project towards its final fruition. What is digital industry without highly valuable data applied during the development process? A programmer needs to be a meticulous researcher who culls and harnesses data as a strong resource to transform the conceptual idea into substantial mobile app.

Financial comfort and affordability

It doesn’t swoop as a shock when a business person emphasizes on minimizing the development cost to keep their overall budget to optimal level. Companies indeed look for alternatives that offer great mobile app solution in return for affordable investment. There is nothing wrong in expecting low-cost solutions. Usually, app development cost stops at 6 figures which can be kept at certain level only by outsourcing the entire project. By doing so, you don’t have to typically spend time and money creating infrastructure, hiring a skilled team and employing healthy resources. You can easily find app developers that cost you not more than 5 figures for the same expensive-looking project.

The full range of quality service

If you collaborate well with an agency that provides entire service suit of end-to-end app development services, you will get to enjoy the process hassle-free. From ideation, conceptualization, discovery, development, testing, deployment and support, you will receive entire package so that in the end all you have to do is to wait for the finest result to come your way. So what’s stopping you from outsourcing app development?

If you too nurture any dreams of launching robust app development services that had brought smiles and satisfaction to many businesses. Are you looking to make your app presence to be felt everywhere? Do share your ideas or send in an email for any questions you may have.