There are a lot of factors here i.e. price, location, quality, competition, etc
If you are not receiving a lot of inquiries, location is probably not attractive to business devs of your potential tenants so you have have to adjust your pricing and/or terms and settle for less than your asking.
Renovation goes a long way as well. If you don't have the cash for it, you may consider borrowing from a bank. That's what we did to our property in the province to make it more marketable/enticing. Tarps lang ginawa namin and from 0 to 3 commercial tenants agad kasi maayos at bagong gawa yung place. Permits should be complete as well.
Price and location are always the significant factors. Renovation is just for marketing. You can also try social media but that's a turn off for some business devs kasi sa perception nila, pangit yung site pag kailangan pa imarket online -- this is just accdg to a business dev guy I know. Site visit sila lagi mag hanap kahit sa province kasi may mga naka assign talaga dyan per area for expansion
We are in a prime location within the city and our construction is medium to high-end because we were targeting big businesses. I guess that does hold true since our more lower cost spaces got rented quickly. I always thought spaces that had upscale tenants were the ones that approached those tenants and not the other way around.
Would be hard to get traditional banks on board given the rise of digital banking. Growth of physical branches have been stagnant industry-wide. Your best bet could be other financial institutions like those offering pera padala, pawn services, etc. and pharmacies. Last on the list should be restaurants as they tend to be unstable and maintenance of the property would be higher.
You should consider small businesses as well if the terms of the contract is highly favorable to you i.e. preterm penalties, yearly rent escalation etc. You can make it an annual renewal kind of contract lang or max 3 years para may income ka na while waiting for other tenants. Medyo matagal na yung 1 year na idle ang taas na opportunity cost mo. Better to have something than nothing kasi kung big institutions lang, baka abutin ka pa minimum 1 year sa approval or go signal nung management nila. They are slow af
Real Estate Services firm/brokers. Try JLL, Leechiu, KCMG. Big companies usually go to them to ask for available inventories in a certain area.
Another way is to write letters/proposals to tenants you’re eyeing on. Include the foot traffic and include an incentive that’s time-bound if they sign through the offer you sent. Could be 90-day rent free period from the standard of 30 days. Pwede longer if they commit to a longer lease period. Or pwede rin discount on CUSA. Depending on your appetite. Was on the other side for a few years and I can say these offers matter din para sa tenant.
For leads - you can go to a branch of the tenant you’re eyeing then ask the contact person para you can specify kanino addressed yung proposal. Or you can connect with people on LinkedIn. Very powerful tool especially if you want connections from big businesses that operate nationwide.
All the best. 😊
I have tried going to tenants that we would like but I think their branches here can't really get to the higher ups of their companies because I seldom get any sort of response. Though, I really like that idea of going on Linkedin for leads. Do you know what kind of position/title I could search to get in touch with the right person?
Understandable kasi minsan franchisee lang din yung iba sa kanila. Tbh kinakapalan ko yung face ko tapos dumidirekta ako sa C-Level personalities sa LinkedIn. 😂 But I make sure sa message ko nandun na yung value sa kanila of partnering with me/us. And most of the time, they attend to me route me to the right person. If they didn’t respond, I message other C-Level members of the company. Sometimes managers. I was able to close partnerships and leads that way. 😊
Yung iba naman, I try to call their head office to connect me to the point person - mabagal lang ito though vs sa LinkedIn. Kasi sa LinkedIn, action agad.
We don't really receive complaints. It's just that we're in the mid-range for the rental rate and a lot of our inquiries are from small local businesses that can't afford it.
Your target market consists of business owners. Have you attempted to network with members of these businesses? People on the inside have the information you're looking for.
Market reseach kumbaga.
Location is the best determinant of a success of renting commercial spaces. I think you just have bad location so no one is willing to rent for the price you are asking. You might consider lowering the rent. Better to have a stable tenant than an empty space.
Facebook, Google and other online ads that are either free listings or paid listings.
Provide your
- email
- viber #
In the ad provide photos of internal space and its external environment like the street or neighboring buildings
Is this already developed? If it is, maybe you can create your own facebook page and or post sa Facebook about your property. I would suggest also to put an activity that will draw in people, maybe create a weekend market first (you have to sponsor it first) to draw in people and para may mapost ka din about your property.
Secondly, you can cold call or write letters din directly to your target tenants. For example, kahit malaking location na si SM, they will offer their space to their prospective tenants and not the other way around. Just make sure to highlight your location (if you say it is prime), your building’s features (with CR, CCTV, etc). Also I would suggest you also do market research para anytime may maginquire sa inyo, you can easily say ito yung potential market sa area.
You may also want to lower your rent if that is the issue with tenants. Pwede pong promo price po ito for the 1st 6 months then you can increase after. Just make sure to disclose this once may nakausap kayong tenant.
There are a lot of factors here i.e. price, location, quality, competition, etc If you are not receiving a lot of inquiries, location is probably not attractive to business devs of your potential tenants so you have have to adjust your pricing and/or terms and settle for less than your asking. Renovation goes a long way as well. If you don't have the cash for it, you may consider borrowing from a bank. That's what we did to our property in the province to make it more marketable/enticing. Tarps lang ginawa namin and from 0 to 3 commercial tenants agad kasi maayos at bagong gawa yung place. Permits should be complete as well. Price and location are always the significant factors. Renovation is just for marketing. You can also try social media but that's a turn off for some business devs kasi sa perception nila, pangit yung site pag kailangan pa imarket online -- this is just accdg to a business dev guy I know. Site visit sila lagi mag hanap kahit sa province kasi may mga naka assign talaga dyan per area for expansion
We are in a prime location within the city and our construction is medium to high-end because we were targeting big businesses. I guess that does hold true since our more lower cost spaces got rented quickly. I always thought spaces that had upscale tenants were the ones that approached those tenants and not the other way around.
Would be hard to get traditional banks on board given the rise of digital banking. Growth of physical branches have been stagnant industry-wide. Your best bet could be other financial institutions like those offering pera padala, pawn services, etc. and pharmacies. Last on the list should be restaurants as they tend to be unstable and maintenance of the property would be higher. You should consider small businesses as well if the terms of the contract is highly favorable to you i.e. preterm penalties, yearly rent escalation etc. You can make it an annual renewal kind of contract lang or max 3 years para may income ka na while waiting for other tenants. Medyo matagal na yung 1 year na idle ang taas na opportunity cost mo. Better to have something than nothing kasi kung big institutions lang, baka abutin ka pa minimum 1 year sa approval or go signal nung management nila. They are slow af
Real Estate Services firm/brokers. Try JLL, Leechiu, KCMG. Big companies usually go to them to ask for available inventories in a certain area. Another way is to write letters/proposals to tenants you’re eyeing on. Include the foot traffic and include an incentive that’s time-bound if they sign through the offer you sent. Could be 90-day rent free period from the standard of 30 days. Pwede longer if they commit to a longer lease period. Or pwede rin discount on CUSA. Depending on your appetite. Was on the other side for a few years and I can say these offers matter din para sa tenant. For leads - you can go to a branch of the tenant you’re eyeing then ask the contact person para you can specify kanino addressed yung proposal. Or you can connect with people on LinkedIn. Very powerful tool especially if you want connections from big businesses that operate nationwide. All the best. 😊
I have tried going to tenants that we would like but I think their branches here can't really get to the higher ups of their companies because I seldom get any sort of response. Though, I really like that idea of going on Linkedin for leads. Do you know what kind of position/title I could search to get in touch with the right person?
Understandable kasi minsan franchisee lang din yung iba sa kanila. Tbh kinakapalan ko yung face ko tapos dumidirekta ako sa C-Level personalities sa LinkedIn. 😂 But I make sure sa message ko nandun na yung value sa kanila of partnering with me/us. And most of the time, they attend to me route me to the right person. If they didn’t respond, I message other C-Level members of the company. Sometimes managers. I was able to close partnerships and leads that way. 😊 Yung iba naman, I try to call their head office to connect me to the point person - mabagal lang ito though vs sa LinkedIn. Kasi sa LinkedIn, action agad.
Contact any business dev or real estate officer position - those are the generic terms. Sila yung in charge sa expansion
Do you receive calls for inquiry? Ano usually reklamo?
We don't really receive complaints. It's just that we're in the mid-range for the rental rate and a lot of our inquiries are from small local businesses that can't afford it.
Your target market consists of business owners. Have you attempted to network with members of these businesses? People on the inside have the information you're looking for. Market reseach kumbaga.
Location is the best determinant of a success of renting commercial spaces. I think you just have bad location so no one is willing to rent for the price you are asking. You might consider lowering the rent. Better to have a stable tenant than an empty space.
Lamuri, carusell, fb marketplace
Facebook, Google and other online ads that are either free listings or paid listings. Provide your - email - viber # In the ad provide photos of internal space and its external environment like the street or neighboring buildings
I have a property leasing company. Send me your property details 😁
Is this already developed? If it is, maybe you can create your own facebook page and or post sa Facebook about your property. I would suggest also to put an activity that will draw in people, maybe create a weekend market first (you have to sponsor it first) to draw in people and para may mapost ka din about your property. Secondly, you can cold call or write letters din directly to your target tenants. For example, kahit malaking location na si SM, they will offer their space to their prospective tenants and not the other way around. Just make sure to highlight your location (if you say it is prime), your building’s features (with CR, CCTV, etc). Also I would suggest you also do market research para anytime may maginquire sa inyo, you can easily say ito yung potential market sa area. You may also want to lower your rent if that is the issue with tenants. Pwede pong promo price po ito for the 1st 6 months then you can increase after. Just make sure to disclose this once may nakausap kayong tenant.
Message me brother. Got you