How to find a tenant for commercial property?

What is a Commercial Property Tenant?

A commercial property tenant is a business or individual who takes the sole occupation of a commercial space for work use.

Examples of a commercial property tenant range from your local high street bakery to tenants as big as Amazon occupying 200,000sqft logistic hubs. There is no limit to how big or how small a commercial property tenant can be, and your local shopping parade is more than likely filled with a diverse range of businesses and organisations who are all commercial property tenants.

How to find a tenant for commercial property?

With the definition of a commercial property tenant above, you can begin to see that the answer is not so straight forward. Plenty of factors are in play in this situation, and finding a tenant for your commercial property can be a complex task at times.

Certain factors will determine just how easy it is to find a tenant to take occupation of your space but we’ll cover the main factors in play below:

  • Price

  • Size

  • Location

  • Condition

  • Terms

The majority of those factors are pretty straight forward and many people can understand what will draw enquiries and interest and what will not.

Finding the tenant

We just glossed over what tenants are looking for but didn’t delve into detail as to how to actually find a tenant. The question which is more important however, is how to find a GOOD tenant?

A GOOD tenant is worth their weight in gold and as commercial agents, we see a lot of landlords offer great terms and rent to current tenants in efforts to keep them. Some even lower their asking rent for secure tenants as they offer less hassle than a riskier tenant willing to pay more.

Commercial Estate Agents

The easiest way to find a good tenant is by instructing a quality commercial property real estate agent.

A great real estate agent who specialises in commercial property have experience in sourcing the right tenants at the right money. Taking away the hassle and worry of finding a good commercial tenant whilst providing solid advice on which tenancy suits your premises best. Whether retail, industrial or office space, a quality agent will find a great tenant to take the space.

Posting Online

Spreading word that your property or space to let is most accessible through the world wide web. Its also free.

The only worry with this avenue of finding a commercial tenant for your property is experience and knowledge. If you haven’t had experience with letting commercial space before, you can run into all kinds of issues and discover that sourcing a GOOD tenant is often a lot difficult than it seems. Portals such as Zoopla are great.

Word of mouth and signage

Something as simple as placing a sign in the window of your premise can draw in a host of enquiries from prospective tenants and may filter out the spam and low quality enquiries you’d find through posting online.

One major drawback remains however, experience and knowledge. Unless you’ve dealt with tenancy sourcing before it is definitely worth the cost of instructing an agent to deal with finding a tenant.

Instructing an Agent

Instructing a commercial property agent to help find your next tenant is as easy as heading to our Contact Us page. We can be in touch within a few hours and discover more about your commercial property needs. Alternatively, you can call us on 01564778890

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