Top of the line commercial property is back in demand as the sector recovers from the financial slump. Businesses that were downsizing are returning to the market looking for a good commercial real estate lease. This spells great opportunity for commercial property owners that have been staring at ascending vacancy rates in most CBD locations over the past year.
However, with many prime Sydney real estate properties still vacant, it’s a renter’s market. Owners will benefit from understanding what tenants are really looking for in their Sydney office space.
Service – forget harbour views and impressive lobby areas, these days tenants are demanding service with their commercial real estate lease. Whatever grade of property you’re offering, companies will demand that they are given the attention they need. Ensure you maintain premises in tip top shape and respond promptly to requests.
Commitment – at the end of the day, tenants are looking for a long standing and committed relationship with their landlord. This means that providing service and support long after the deed has been signed. This is especially important for landlords hoping to resign short term leasers; you’ll be more likely to keep your tenants for the long haul if you demonstrate a commitment to maintaining the relationship beyond the lease term.
Flexibility – in today’s fluctuating market place, tenant demands seem to be ever changing as businesses contract and expand faster than ever. Landlords that can more readily accommodate for these changes will have a greater chance of retaining their tenants for the long term and be more likely to gain positive referrals and attract new tenants.
Help them do business - a commercial office space is an integral part of a company personification and tenants want a space to impress. Get some foliage in the lobby to bring some colour to space, ensure lifts are in clean and working order. By paying attention to smaller details and ensuring your commercial premises are designed and maintained to impress, you’ll be helping your tenants do business – which in turn is good business for you.
This article is brought to you by Tim Green Commercial. Find your next commercial property for sale or lease at Tim Green Commercial – the experts on finding great office space in Sydney CBD and surrounds.
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