May 19, 2017
Commercial property management can arguably be either easier or harder than residential management. On the one hand, businesses tend to stay in the same place for years, meaning once you've rented the commercial spaces in your building you're not going to have as many vacancies as with residential properties which renters tend to leave on a regular basis. However, when a business does leave, it can be challenging to find a new tenant. Rather than waiting for responses to general advertisements, there are creative and proactive means toward filling your commercial space.
Door to Door and Word of Mouth
Going door to door with neighboring businesses is a great way to introduce yourself and maintain a presence in the community. Employees in nearby businesses may recommend your building to friends or professional contacts, and you can reference back and forth with other building owners when one building isn't appropriate for potential tenants. Likewise, attending town hall meetings or local churches can be a great way to get free advertising for your empty space through word of mouth while presenting yourself as a responsible part of the local business community. Being familiar with the area provides an additional service you can offer your tenants by introducing them to nearby businesses you're already familiar with who they may want to work with.
Maintain a Website for Your Property
In today's age, it's almost essential to maintain a website for any business endeavor including a commercial property with business space for rent. Potential clients can find the information about your properties while searching for information about the area, which you provide with blog posts and Search Engine Optimization (SEO) tools. Blog posts can highlight restaurants and local attractions which define why your building is a good place to operate a business.
Targeted Emails and Newsletters
Through word of mouth connections and visitors to your website, you can develop a list of potential future clients and send out a newsletter or regular emails to remind them of your business, upcoming community events, and notify them when you have a vacant space up for lease. Again, it contributes to your status as an outstanding member of the local community and someone others want to do business with. The very nature of how people get added to your list means they're targeted as people who may be interested in the services you provide, or can at least might recommend you to someone in need of what you have to offer.
Today's business environment offers challenges which weren't in place in the past, fortunately, it also offers solutions. Simply providing a minimal service which is sufficient doesn't tend to lead to success anymore. Businesses have to stand out in order to flourish, and creative thinking is how to achieve such goals. Real estate is an especially competitive market which requires you to stand out as an exceptional service rather than simply providing the minimum. Maedwell Residential is here to help you stand out from the crowd. If you're interested in commercial property management in the Washington DC area, call Maedwell Residential today!