Advertising Commercial Property for Rent in London
Maximising Return from London Commercial Rentals
Advertising commercial property for rent in London should be an important consideration for any property marketing department or solo entrepreneur. Advert placement is crucial. Ask yourself if the property under consideration is attracting competitive market rates? Is the goal of renting the property long or short term? Do quality tenants matter to you?
London Commercial Property Rentals in a Competitive Market
According to Stephen Womack, writing for the Financial Mail on Sunday (May 2013), the "past few years have been a bumpy ride", where investors in the commercial property rental market have seen "a string of insolvencies leaving properties empty." Womack estimates across shops, offices and factories, up to ten percent of properties are empty.
The good news for those advertising rental property in London, is that markets for London and the South East bounced back extremely well since the recession of 2007 and 2008. Commercial property fund investor - the UK Commercial Property Trust, which provides investment insight into possible rental yields, reports its large London commercial rental portfolios seeing yields around 7 percent in 2013.
The Importance of Dealing with Reputable Commercial Property Agents
Renting your commercial property, or renting several properties, is better in the hands of reputable commercial property agents. An agent who specialises in your type of tenant is preferable. If you want to rent to shop tenants, seek an agent who is experienced with shop tenancies. There are different styles for advertising to and attracting different tenants. An experienced commercial property agent will have internal advertising systems, where clients are actively looking for a property. A great agent will have expert recommendations for paid-for advertising, relative to your market.
Successful Margins and Returns for Commercial Property
A select advertisement, which attracts the right tenant for a commercial property, is best secured by a contract relative to your market. Advertising your property is your first consideration, but by no means, the only process. An agency will manage all aspects for you, from the placement of an advertisement to the assignation of property possession. You can specify your ideal tenancy arrangement and check each stage of the process with your agent. For the most successful margins, delivered by long-term assured tenancy arrangements, going the professional route is the key to successful returns.
Advertising a Commercial Property for Long-Term Asset Return
It is clear that advertising a commercial property for rent in London is best handled by a reputable commercial property agency. Selective and targeted advertising will ensure you avoid broken agreements, absconding tenants, and irresponsible tenants. If securing the value of your asset is a long-term goal, some application of that thinking needs to go into your marketing and advertising strategy - right from the start.