According to Bloomberg, US office vacancy rates could reach 24% by 2026 as working from home persists. This could reduce revenue for office landlords by $8 to $10 million. If your commercial properties are vacant, you could lose potential earnings.
Before that happens, apply these commercial property marketing strategies. With these real estate marketing tips, you can reach potential tenants in Bullhead City, AZ. Maximize your occupancy rate and earning potential with these property promotion ideas!
1. Update the Property
Make your Bullhead City commercial property more attractive to renters. A few upgrades can increase the property value and attract applicants. Improve the property's value with:
- Optimized parking and accessibility
- Better security measures
- Enhanced curb appeal
- Renovated interior spaces
- Modernized amenities and facilities
- Open floor plans
- Sustainable practices
- Upgraded mechanical and electrical systems
Track current market conditions, including emerging trends and property prices. Consider working with a property management company. They'll help you complete a rental analysis to ensure you choose appealing renovations.
Their advice can help you stay ahead of competitors. Completing a rental analysis will ensure you set competitive rental rates.
If you set the rate too high, you could deter potential tenants. Setting it too low could cost you potential earnings. Your property manager will ensure you maximize your profitability by helping you make informed decisions.
Invest in routine maintenance and regular inspections to keep your property in the best possible shape. Otherwise, potential tenants will look for a property with better upkeep. Regular inspections will improve tenant satisfaction rates and reduce the cost of extensive repairs.
After completing these upgrades, hire a real estate photographer. Eye-catching, professionally-taken photos will strengthen your real estate advertising campaigns.
2. Leverage Digital Real Estate Marketing Tips
Use digital marketing to reach potential tenants online. Effective strategies include:
- Paid advertising
- Social media marketing
- Email marketing
- Search engine optimization
- Content creation
To keep up with current trends, create virtual and video tours of the property. Potential tenants can explore the listing thoroughly to determine if it meets their needs.
If you lack experience with these property promotion ideas, partner with a property management company. They'll strengthen your campaigns and improve your ROI.
3. Partner With a Property Management Company
Work with an experienced property management company to offer tenants better leasing experiences. Their commercial leasing strategies can improve satisfaction rates. Happy tenants will rave about your commercial property online.
Generating positive reviews can help you reach new renters and retain current ones. Choose a full-service property management company. Their services will help you operate more efficiently, improving your ROI.
Effective Commercial Property Marketing Strategies
The right commercial property marketing strategies will help you reach new tenants in Bullhead City. Remember, you don't have to apply these real estate marketing tips alone. Instead, partner with PMI US Southwest.
We use state-of-the-art technology that allows owners to track how their properties perform in real time. We're part of a nationwide recognized franchise that has 10 consecutive years in Entrepreneur's Franchise 500.
Our comprehensive property management services can maximize your profitability. Contact us now for a free rental analysis.
