In this article I will talk about how to rent a room quickly and efficiently.
Characteristics of the premises
How do tenants decide that a space is right for them and they are ready to take it on?
First they find a space that meets their requirements in terms of location and square footage. Well, and sometimes the price. Next, the tenant calls and asks a few clarifying questions about the space. The questions are usually of a general nature, but already at this stage landlords start to malfunction and break their sale because they can’t answer fairly trivial questions clearly and correctly.
The questions are simple, and the landlord can’t answer them. He pauses to find out and often doesn’t come back with an answer. Don’t believe me, ask the tenants.
But suppose the landlord did find out what the tenant asked him. He liked what he heard and makes an appointment with the landlord or his representative for a viewing. Here’s his chance to make the sale and tell him all the benefits of renting the space. There is a real interest, you need to do everything so that his still virtual interest is transformed into a real interest. Not only need to show the room, but also to tell him the benefits.
But no, what are the benefits. Landlord can not answer basic questions, no documents, some outdated plan, what the actual area he does not know, etc., etc. Instead of selling the premises for rent, just showing with the provision of sketchy information.
And the tenant sees not just one room, but several. And he has already formed a negative, if not in relation to the premises, then in relation to the lessor or his representative for sure. Therefore, if the next object is better to caress him, then emotionally he will be for that object. Believe me, I know what I’m talking about. It’s easier for a person to go with the flow than to put in the extra effort.
So don’t make it difficult for the tenant from the start. How to rent the premises easily? Help him create a positive image of your premises.
Building Characteristics
A tenant, especially if he has to look through dozens of ads, cannot always understand which building the space is in. For some types of business, the characteristics of the building may be crucial.
For example, stores selling fuel and lubricants cannot be located in residential buildings. Some restaurants, such as McDonald’s, which are in fact not restaurants, but factories, also cannot be located in residential buildings.
Characteristics of the location
The task is the same as in the previous two points – to gather as much useful information as possible to make the tenant want to locate his business here. A positive image of the premises is transformed into a need to rent such premises gradually and is made up of many building blocks. The problem of the landlord is that he does not know how many of these bricks are needed and what kind of bricks it consists of. So the more useful information you give the tenant, the better. A small detail can prove decisive in tilting the scales in favor of your premises.
Your client. Who is he?
The easiest thing to do at this stage is to screen out anyone who is not your client. These are the kinds of businesses to which you do not want to rent space or cannot by virtue of legal restrictions. So you screen them out right away, so as not to waste time on them.
In shopping malls may also be set limits on the number to accommodate certain types of businesses. For example, no more than two hair salons or no more than one grocery store.
If you’re a mall representative and you’re all booked up, I congratulate you. I’ll just give you one little piece of advice. At one time we were placing points of sale in the malls and the vast majority of the malls that couldn’t accommodate us didn’t even bother to take our contacts and put them in our database of potential tenants. And I was representing a very well-known brand in the market.
Is this really the right thing to do? We did exactly the opposite, all who were interested in the premises in our shopping center, we wrote down and put in our database. If a tenant left us or just planned to leave, we found a new one within a week. We did not waste time, the premises did not stand idle and we saved on commissions to realtors.
There can be certain nuances for the street retail premises. If the premises previously housed a bank or restaurant, it is worth starting the search for a new tenant with similar types of business. The new bank can save significantly on repairs if the premises were also formerly housed in the bank, but any other business will have to shell out a lot of money.
In general, determine who are not your customers. Then everyone else is yours.