Fill CRE Vacancies FAST

In an ideal scenario, when one tenant moves out, building managers have another occupant lined up. Short turnaround times for vacant offices can significantly improve cash flow and revenue. Finding and securing new tenants can be a challenging task for property managers who lack experience in sales or marketing. Fortunately, there are strategies that can improve brand recognition and help reduce the number of empty units within facilities.

Promote value

Potential occupants have options when it comes to selecting a new office location. Several buildings may offer the square footage they require and be within their price range. To separate their properties from the competition, managers should focus on promoting the value they provide. This could include location, additional amenities, and even the friendliness and professionalism of the maintenance staff.

In addition, showing potential tenants the protocols that employees use to respond to problems can assure clients they will receive assistance when it is needed.

Share information on expenses

Similarly, offering accurate cost estimates for utility costs, insurance and other expenses not included in rent will help show the level of service that businesses provide. If there were recent renovations to improve a building’s energy efficiency, having access to this data can highlight a commitment to reducing operating costs and creating value.

Implement video

Social media has become a popular marketing channel with companies promoting everything from consumer products to heavy equipment. Real estate brokers have found the channel is useful for reaching select audiences. Video is also expanding its appeal to marketers within the real estate sector, according to A quick and simple video of facilities can be used in conjunction with social media and other online marketing strategies to generate excitement and interest.

Understand the target audience

However, doing video correctly depends on understanding the audience. Business 2 Community noted that successful video campaigns, whether promoted through traditional media or online, present brands that connect with the customers. This may seem challenging when showing an empty unit, but if building managers focus on a select demographic, they can promote specific features to drive interest.

To understand the audience, property managers should analyze current and past tenants. This information can indicate groups that may be interested in the location, cost and amenities that a building provides.