If you’re a real estate owner or experienced property manager, you already know these in one form or another, here’s my spin on these concepts. It is useful to refresh these points in your mind. There are five ways to increase rental activity for your commercial real estate in Downtown LA, and only five ways to increase rental activity in DTLA. If you have a vacant space, the cause of the vacancy has something to do with one or more of these factors. Do you have a vacant commercial space in DTLA? Wouldn’t you like to be collecting the monthly rent on it? Well, let’s see what we can do by going over these five factors!
· RENOVATIONS: Sometimes, it is hard to realize how your space looks to fresh eyes, someone seeing the space for the first time. If your space shows poorly during a tour, this will be a factor in getting the space leased. Also, the physical appearance of your property will affect the quality of the pictures you are able to get of your space. When it comes to online advertising, your space is only as good as your photos of it.
· BRANDING: Are you positioning your property to the tenants who make up the market for the greatest demand of your property? Did you use to rely on sewing manufacturing tenants when now the greater demand and value is in creative office space? Is the image of your space is projecting cool?
· How dtlarealestate.com can help: I can consult with you to position your property in the best light possible for the greatest demand based on my knowledge and experience of the “gentrified type of tenant” coming into Downtown Los Angles.
INCREASE EXPOSURE OF VACANT UNITS
· Marketing is everything. Is your space getting the most visibility it possibly can to the type of tenants that are most interested in your space?
· How dtlarealestate.com can help: First of all, I can make your spaces look good with photography and video. I have over 38,000 fans on Facebook at facebook.com/dtla4ever where I share photography, street art, and real estate in Downtown LA. My website gets over a thousand visits per month. You can Google “commercial real estate Downtown LA” and see how I get so many tenants calling me each day. I honestly believe there is no one in the world that can give your commercial rental units any more marketing visibility than I can. And personally, I’ve never seen anyone else come close to the photography and video that I do for my clients’ vacant spaces.
REDUCE PRICE/RENT RATE
· How dtlarealestate.com can help: You don’t need me for this one.
IMPROVE SALES SKILLS OF TOURING AGENT
· The sales presentation a tenant receives extraordinarily affects whether they rent or not. The methods employed when demonstrating the space and persuasion involved can mean the difference between making and breaking a deal.
INVENT AND USE A TIME MACHINE
· Last but not least, eventually, it might take two years, but someone is going to find out about your space, call you, agree to the rent rate, approve of your sales pitch, and rent your space at your asking price. Hopefully, you don’t raise the rent rate during that two years time, because it might stay vacant forever!
· How dtlarealestate.com can help: I’m a smart guy but I can’t build you a time machine. You’re on your own with this one!
The ways I can work with you (as a Downtown LA real estate broker and property manager) to get your vacant commercial spaces leased better than any other broker in the world are by helping you with adding value, increasing quality of your marketing materials, increasing the number of people exposed to your marketing materials, and being your sales representative. If you’re interested, give us a call and we can talk about filling your building up with happy tenants!