by The Landlord
Having a property sitting vacant for a lengthy period is every landlord’s worst nightmare.
But when it comes to commercial property it can be a far more intractable problem than it is in residential.
Legendary ex-pat Kiwi investor Dolf De Roos says that when a house is vacant for more than a few weeks, there is only one problem: the rent is too high.
But getting the desired level of rent may only require making a few small upgrades to a residential property.
In commercial property, the lack of a tenant means there is no cash flow – and cash flow is the driver for commercial investments.
This means that one of the principle challenges for commercial property investors is finding and keeping tenants.
So we turned to some old commercial hands to assemble a top 10 tip list on how to achieve that for this month's NZ Property Investor magazine.
Here are those tips:
1. Get creative
2. Location, location
3. Go green
4. Understand your market
5. Bang on a tin rum
6. Stay flexible
7. Don’t be greedy
8. Negotiate leases
9. Relationship advice
10. Use experts
To read the full details of our top 10 tips for attracting and retaining commercial tenants, click here to get the digital issue of NZ Property Investor magazine.
Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.
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