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.