Leasing your commercial Property

The Step-by-Step Process to Leasing your Property

Initial Consultation 

• Understand the landlord's goals, property details, and leasing objectives.

• Discuss the property’s features, condition, and potential tenant types.

• Determine the landlord’s priorities (e.g., income, long-term leases, or specific tenant industries).

Property Assessment 

• Evaluate the property to identify its strengths, weaknesses, and marketability.

• Inspect the property for amenities, layout, and overall condition.

• Recommend improvements or repairs to make the space more attractive.

Market Analysis 

• Set the right rental rate and identify competitive advantages.

• Research comparable properties in the area and assess local market trends, tenant demand, and economic conditions.

• Present a pricing strategy to the landlord.

Marketing Strategy Development

• Create a plan to attract potential tenants.

• Develop professional marketing materials, including brochures, photos, and videos.

• List the property on commercial real estate platforms (e.g., LoopNet, CoStar).

• Use signage, broker and business networks, and targeted social media advertising.

Target Tenant Identification

• Focus efforts on attracting the right tenants.

• Define the ideal tenant profile based on the property’s size, location, and zoning.

• Identify businesses that complement the area or existing tenants.

 Property Showings

• Showcase the space to prospective tenants.

• Schedule and conduct property tours.

• Highlight key features and benefits during showings.

• Address tenant questions about space suitability and terms.

Tenant Screening

• Ensure prospective tenants are qualified and reliable.

• Review financials, credit history, and business viability.

• Verify references or previous landlord recommendations.

Lease Negotiation

• Negotiate key terms, such as rent, lease duration, and escalation clauses.

• Secure a lease agreement that benefits both parties.

• Discuss build-out allowances or tenant improvement responsibilities.

Coordinating Tenant Improvements (if applicable)

• Ensure the space is ready for the tenant’s use.

• Finalize agreements for modifications or customizations.

• Coordinate contractors or oversee build-out timelines.

Lease Finalization

• Execute the lease agreement and secure tenant commitment.

• Review and finalize the lease with all parties.

• Collect the security deposit and initial rent payment.

• Provide keys and access details to the tenant.

Move-In Coordination

• Facilitate a smooth transition for the tenant.

• Schedule a walkthrough to confirm the space’s condition.

• Provide support with utilities, parking, and other move-in logistics.

Post-Lease Support

• Maintain a good landlord-tenant relationship and address future needs.

• Monitor lease compliance and address any issues during the term.

• Offer advice on renewals or expansions.

• Stay in touch for future leasing or sales opportunities.