Frequently asked questions
What do Colliers’ Landlord Representation services include?
How does my long-term investment strategy inform the lease objectives for my property?
Whether you’re planning to own a building for the long-term, or interested in selling the property within the next few years, drastically impacts the type and length of leases you’ll want to offer your tenants. Because long-term investment strategies guide scheduling for capital improvements, our landlord services teams will help you develop a management strategy that will meet your future objectives without sacrificing present profits.
How can I distinguish my building from other properties in the market?
Cultivating and highlighting your property’s unique amenities requires a nuanced understanding of the property, local ecology profile and the market at large. It’s also important to showcase the benefits of adjacent tenants and services, as leasing space to complementary businesses can help foster a sense of community that makes the property more desirable.
While some selling points are obvious, our Landlord Representation professionals can identify differentiators that might be overlooked. In one recent case, our team identified that a building was equipped with five ingress/egress points from its parking structure, whereas other properties within its competitive set had only two or three. Our brokerage professionals utilized this information to attract the right tenants and achieve stronger rents.
How can I minimize my risks as a landlord?
Minimizing risk starts with a solid plan to ensure your property is occupied by the right mix of tenants. Our team can help you reduce risk by thoroughly researching the financial status of a potential tenant including credit ratings and business history as well as understanding the impact of current market cycles and economic dynamics.
In addition, our lease auditing teams can ensure that all leasable space is fully utilized and all lease agreements are structured with the right security measures to protect your investment.
What are the costs I should consider?
Most property owners recognize that a space without a tenant represents lost income. However, there is a much wider range of costs associated with tenant turnover, including leasing costs and incentives, marketing costs to identify and attract new tenants, the labor and materials required to upgrade the space for future tenants and the legal and accounting costs of terminating a lease. Taking steps to find the right tenants and maintain positive relationships can be a cost-saving measure.
How do you secure the best tenant for my property?
We have deep property marketing expertise, which starts with establishing a hierarchy that allows you to focus resources on the highest-quality prospects. Once we have identified prospective tenants, we move them through a transaction filter that begins with creating awareness and then helps establish an understanding of how your property can provide the right space and place that adds value to their business.