Commercial real estate leasing has changed dramatically over the years. From property amenities to market conditions and tenant qualifications, the scope and depth of information that must be considered by landlords has grown. Before you list your property for lease, consider these Boston commercial leasing tips for landlords.
Attract the Right Tenants
Identifying your preferred tenant is the first step to attracting them. Are you up to speed on what today’s office tenants are looking for? Does your building have the right characteristics and amenities to compete? What marketing avenues will reach your target lessee?
Stay Up to Date on Market Trends
The Boston commercial real estate market is not only unique, but it’s also constantly changing. Pricing and trends can vary by individual neighborhood in and around Boston. Unless you actively work those markets on a daily basis, you may not be fully up to speed. Before listing your property for lease, it’s important to get educated on market conditions and factors that influence pricing. This is one of our most important Boston commercial leasing tips for landlords.
Know Your Competition
Pricing is a reflection of supply and demand,… and competition. Arbitrary pricing models that fail to incorporate the offerings of your competition could leave you at a disadvantage. Thus, you must learn about the options available on the market before deciding where to position your Boston commercial real estate lease.
Hire the Right Experts
The last of our Boston commercial leasing tips for landlords is to hire an expert. It can be difficult to attract the right tenants, stay up-to-date on market trends, and research your competition all on your own. The knowledge to do all three effectively requires years of experience and daily involvement in the industry. Hiring experts to assist with your commercial real estate lease ensures that you receive the right information and guidance to maximize your leasing opportunity.
Consider ABG Realty’s advisory services for your next commercial real estate lease. As a boutique-style firm servicing the Greater Boston area, we have the local market knowledge and industry expertise to position your listing for success. Contact us to schedule a consultation.