Picture this: you own a beautiful property in a desired part of town. It boasts highly coveted features, and you just know it’ll be a home run when you put it up for lease or sale . How do you reach the widest market to get the best possible price? Landlord representation.
To get your commercial real estate property in front of the market you’re looking for and to showcase the best features upfront, your best bet is to source professional landlord representation. A commercial real estate broker, such as Gonyea Commercial Properties, will help you lease out vacancies or sell your commercial property for top dollar.
Landlord representation plays a role in maximizing the value of your property by showcasing the property’s best qualities. Your representatives will create persuasive, results-oriented leasing or purchasing programs, enhancing the value of your assets for a maximum return.
What Exactly is Professional Landlord Representation?
Professional landlord representatives work with the property owner to create strategies that enhance the value of your real estate asset. They will market your asset to the broadest possible audience in the industry and develop a deep understanding of your commercial property listing. This helps them to attract and maintain the right renters while strengthening your investment.
Landlord representatives also…
- Negotiate tenant improvement allowances. This involves working with a potential tenant and coming up with a plan that both parties agree on to improve the property.
- Handle lease agreements. Your landlord representative will negotiate and handle all the fine details of any contract or agreement with your success in mind.
- Oversee security deposits and concessions. Your representative will preserve your best interests and ensure everything is above-board.
Since 1989, Gonyea Commercial Properties has executed thousands of commercial real estate leases and sales in the Minneapolis/St. Paul Metro metroplex. We know the area and have a stellar reputation among parties that want to maximize the value of their property.
The Benefits of Landlord Representation Services
You might be asking why this service is necessary. It’s not just that landlord representatives negotiate and handle deals on your behalf – they also shoulder overarching burdens so that you can focus on your other responsibilities as a property owner.
Let’s look more closely at the benefits of using a professional landlord representation company:
- Fill More Vacancies
A landlord representative is responsible for filling your commercial real estate properties with tenants (and keeping them filled). They will develop a leasing strategy to appeal to your ideal tenant.
Their job is to get your space in front of the decision-makers who want your property. Professional landlord representation will ensure your property is accessible, discoverable, and successful.
- Create a Solid Marketing Plan
This is where the work truly begins. Your landlord representative will study your property, nearby locations, and the current marketplace to present you with a comprehensive study. To come up with a solid marketing plan, your representative needs to have experience not only in real estate, but in your geographical region, as well.
They will take a deep dive into your target audience by collecting data so you can ensure that your strategy aligns with the desires of your ideal client. When all this information is put together, you’ll have an effective marketing plan in your corner.
- Target the Best Potential Tenant
If you have commercial real estate for lease, you want the highest quality tenant . The goal is to find tenants who want to be there – ideally for a long time to cut down on empty spaces. That’s what a professional representative helps you do.
Potential tenants need to be thoroughly vetted and approved. A landlord representative will find these great tenants, but also help you establish a relationship with them and feel confident about their rental agreement.
- Dominate Your Marketplace
The exhaustive research conducted by your professional landlord representatives will position you to dominate your local area (in a way non-represented owners cannot). They’ll learn your market, establish your position, and collect data on both clients and competitors.
You will know exactly where you stand and how to effectively price your property for the maximum return on your investment. Your representative’s ultimate goal is to get you a great client for a great price, then manage the experience for you.
How to Choose the Right Representative
You don’t want just any landlord representative helping you manage your property. It’s important to work with someone who knows your area and exactly what you want (and need).
When putting your investment property in someone else’s hands, you’ll need to do a little research. A good landlord representative should have…
- Industry knowledge, not only of commercial real estate, but also of your area’s market conditions.
- References that you can actually contact to learn more about them.
- Strong negotiating skills that will actually get you a good deal.
- Relevant experience working with companies and properties your size.
These are just a few of the crucial details to assess when choosing a landlord representative to oversee your property. Don’t forget that you also want to find someone you’ll be comfortable working with closely. Trust goes a long way in these partnerships.
It’s important for you to have professional landlord representation when positioning your commercial real estate property for lease or rent. By partnering with an experienced representative, you'll put your property in the best position to score a high return on your investment.
Gonyea Commercial Property owns, manages, leases, and sells commercial real estate in the Minneapolis/St. Paul Metro area since 1989. We have experienced landlord representatives who will work with you to lease out vacancies or even sell your commercial property for top dollar.
Contact Hunter Stanek with any questions you have at 612-500-7997 or via email: [email protected]. We’d love to talk to you and walk you through every step in our process.