Prepare Your Commercial Property for Sale or Lease Part I: The Look
The smell of warm baked cookies may help you sell your house, but not your commercial property.
If you’ve ever sold a house before, you know the importance of preparing the house in the form of staging. Staging can take the focus off of negative aspects. The same principals used in staging a residential property can also be applied to commercial properties; they just have to be thought of in a different manner.
I know what you’re thinking, I’m not selling a house, and I don’t need the next Design Star from HGTV to help me sell my commercial property.
Let’s be honest, unlike buying a home, where there is sentimental emotion when purchasing, chances are, what the building looks like has less effect on the actual purchase / lease decision. However, it can’t hurt to make the property appear in top shape. You don’t want garbage on the property or a poorly kept lawn act as a factor in the final decision.
Just like buying a home, a potential buyer / tenant for commercial real estate doesn’t want to have to worry about minor things such as landscaping or cleaning. They want to the property to be “move-in” or purchase ready.
If you are looking to lease your commercial property, here are some low-cost suggestions from the CBC organization to help prepare your property. Many of the suggestions will seem like common sense, but you would be surprised at how many of these are often overlooked:
How does the building look to potential buyers / tenants?
Stand back and view your property as if you were seeing it for the first time. What stands out to you? Those same items will stand out to potential purchasers / tenants.
Make sure the bushes are neatly trimmed, the grass is mowed and the lawn looks healthy. You may want to put a couple thousand dollars into new landscaping if needed.
- Parking Area / Driveway
If your parking area or loading dock surface condition is stained or otherwise worn-looking, consider resealing it. If the parking lines appear faded, have them repainted. Remove any obstructions.
- Building Exterior
Have a cleaning service power wash the building exterior for a fresh look. Don’t forget the windows. Make sure you paint over any graffiti that can be an eyesore.
Replace any cracked or broken glass and as previously mentioned, clean the windows.
The roof may be the single most important aspect of your property. A well-maintained roof will say a lot about the overall condition of the property. Replace any broken or missing shingles or tiles. Repair flashing where needed. If the roof is old and needs to be replaced, consider having the work done before selling the property.
After following a few of these suggestions provided by the Coldwell Banker Commercial® organization, you will realize there are simple and effective solutions for virtually any commercial space to get it sold / leased.
Contact a Coldwell Banker Commercial professional to ensure the maximum exposure and marketing for the commercial property you are looking to lease.