Renting out industrial space is quite different from leasing residential property. And you must know the best way to go about renting your property to tenants. Understanding the differences can help you succeed in offering suitable space for clients. Whether you want to rent out an office building, a factory, or a warehouse, you will know that it can be complicated as your lease must be tailored to the clients. Because of this, it is often best to hire the services of a reputable industrial real estate agent. Read on to know some tips for leasing industrial space:
Consider the Kind of Business to Attract
Business owners looking for industrial real estate to lease out will consider the location. You will want to offer good transport links, thus, your property must be easy to reach by road or by train. In addition, some businesses choose to be beyond a major city while commercial firms opt for metropolitan areas. This makes it important to determine the kind of business you want to attract.
Ensure the Property is Ready for Business Use
Before you put the space on the market, ensure it is suitable for business. As you may want to appeal to as many kinds of businesses as possible, make sure the property has the basics that any business needs. The majority of industrial space is rented by the square foot, thus, ensure it has an open space and let a business decide the amount of space they need. Additionally, it is important to ensure the building and structure are safe and durable.
Great industrial property realtors will connect you to the right contractors you may need. They will give you a clear picture of whether or not your property is attractive to prospects. They may suggest things like having industrial flooring installed by an expert, lots of natural and artificial lighting, and other basic things. Aside from helping with property purchases and sales, realtors work in various areas including property management, leasing, and property development. A lot of them specialize in a certain market such as office space, retail space, and industrial space.
Offer Extra Services
If you want to increase your income from your industrial space, consider giving extra services and make them a part of the agreement. This can include leasing car parking spaces outside, offering maintenance service, and providing a refuge collection service. Moreover, you can offer advertising space to your tenant through the areas of the building not leased by a company.