You're showing a property with location concerns. How do you address a potential tenant's reservations?

1 Understand Needs

Understanding the specific needs of a potential tenant is crucial when addressing location concerns. Listen attentively to their business requirements and the role that location plays in their operation. If they are worried about foot traffic, discuss how the property's layout or nearby amenities might compensate. For businesses that rely on logistics, emphasize access to major transport routes or the availability of delivery services. By aligning the property's features with their business model, you can turn perceived weaknesses into strengths.

2 Highlight Benefits

Every property has unique benefits that can overshadow location concerns. Perhaps the space offers exceptional value for money, or there's an untapped market in the area that could benefit the tenant's business. Highlight these advantages, focusing on how they can positively impact the tenant's bottom line. If the location is in a developing area, point out the potential for growth and the opportunity to establish a presence before competitors do. Benefits like these can make a less desirable location seem like a strategic choice.

3 Address Accessibility

Accessibility can be a significant factor for businesses considering a property with location concerns. If the property isn't ideally situated, present alternative transportation options or infrastructure improvements that may be in the works. Discuss nearby public transit, parking availability, or even bike paths that might make the property more accessible to employees and customers. Demonstrating that you've thought about accessibility shows that you're committed to finding workable solutions for the tenant.

4 Offer Incentives

Incentives can be a powerful tool to alleviate concerns about a property's location. Consider offering rent discounts, flexible lease terms, or contributions towards fit-out costs to make the deal more attractive. These incentives can help offset any initial reservations about the location and demonstrate your willingness to work with the tenant to meet their needs. It's important to strike a balance that benefits both parties while ensuring the property remains a viable option.

5 Leverage Technology

Utilizing technology can help potential tenants visualize the advantages of a property despite location drawbacks. Offer virtual tours that showcase the property's features or use mapping software to highlight nearby businesses and amenities. If traffic is a concern, provide data on peak travel times and alternative routes. Technology can bridge the gap between perception and reality, allowing tenants to see beyond immediate location concerns.

6 Create Community

Sometimes, creating a sense of community can be just as important as the physical location of a property. If the area lacks certain amenities, suggest ways the tenant could become a community leader by offering those services or organizing neighborhood improvements. Encourage them to envision how their business could positively impact the area and become a destination in its own right. By fostering community engagement, tenants can create a vibrant atmosphere that attracts customers and employees alike.

7 Here’s what else to consider

This is a space to share examples, stories, or insights that don’t fit into any of the previous sections. What else would you like to add?