Attracting tenants to your Calgary commercial property requires a combination of real estate market research, competitive pricing, and marketing your property accordingly. Here are 3 tips to help you attract tenants to your property!
Understand who your target audience is.
If you want to attract tenants to your Calgary commercial property, it’s essential to have a clear understanding of who your target market is. The first step is to conduct thorough market research to identify the businesses that would find your property the most appealing – your commercial real estate agent can assist you here. You need to consider various factors, like the local economy, demographics, and industry trends. Once you have identified your target market, evaluate the unique selling points of your property and how they align with potential tenants’ requirements. This will help you tailor your marketing efforts, property features, and lease terms based on the preferences and needs of your target market. By taking a targeted approach, you can boost your property’s attractiveness and ensure your promotional efforts are focused on the business most likely to lease your commercial space.
Competitive pricing.
Setting a competitive price is important in attracting tenants to your Calgary commercial property. Analyzing the local real estate market will allow you to gain insights into the prevailing rental rates for similar properties in your area. This understanding will help you establish a realistic and attractive pricing strategy. Consider highlighting your property’s unique features and amenities and using them to justify the value proposition. Providing flexible lease terms or incentives like rent discounts for long-term commitments can also make your property more appealing to tenants. By striking the right balance between affordability and value, you can enhance your property’s attractiveness and increase the likelihood of securing leases promptly. Regularly reassess and adjust your pricing strategy based on market trends and tenant demand to maintain a competitive edge.
Market your property accordingly.
Many commercial properties are on the market, meaning yours needs to stand out. By working with a REALTOR®, you can market your Calgary commercial property to reach the broadest audience. Real estate brokerages have access to the Multiple Listing Service (MLS), a comprehensive property listing database; in a world where so much happens online, it’s important that your listing stands out right from the get-go. Professional photography is an integral part of this process, and your real estate agent may include those services in their fee. By marketing properly, a commercial agent can help draw more tenants to your property faster, saving you time and money.
Working with Realty Unleashed!
Realty Unleashed serves clients in Edmonton and Calgary. If you are looking for a real estate agent to help attract tenants to your Edmonton or Calgary commercial property, please fill out the form below and someone from our team will get back to you soon!
