Many Texas office spaces are still sitting empty, with office vacancy rates ranging from 21 to 25%. If your properties are vacant, it's time to reevaluate your commercial real estate marketing strategy. Otherwise, you'll lose thousands in potential earnings every month.
Here are three commercial property marketing strategies for generating more visibility. With these strategies, you can attract tenants and improve your occupancy rate. Watch your ROI rise today!
1. Update the Property
Your El Paso commercial property won't attract tenants if it falls apart. Before marketing the property, spruce it up. Choose cost-effective upgrades that will boost the property's value.
Effective improvements that can boost property ROI include:
- Enhancing the curb appeal
- Investing in security
- Renovating interior spaces
- Optimizing parking and accessibility
- Modernizing amenities and facilities
- Upgrading mechanical and electrical systems
- Adapting floor plans
- Focusing on sustainable practices
Otherwise, monitor the local and regional real estate markets. Spot trends to enhance your properties accordingly. This will help you stay ahead of the competition.
After tenants move in, schedule routine inspections. Routine maintenance will ensure the property remains in good shape. You can avoid the cost of expensive renovations and keep tenants happy.
Keeping your existing tenants happy can encourage more lease renewals. As tenants stay, your occupancy rate will rise. You'll also save money on tenant screening and property marketing.
2. Leverage Digital Marketing
After making the above changes, update your online property listing. Your listing should feature:
- Location-specific language
- An attention-grabbing headline
- A thorough description
- A list of amenities and unique features
- Stunning photos and videos
- Floor plans
- The rental rate
- Your contact information
- A strong call to action
Hire a professional photographer to show off our stunning property. Their photos will attract more people to the listing. Use these photos to enhance your digital marketing strategy.
Use a mix of strategies to gain more online visibility. This includes search engine optimization (SEO). SEO will ensure your listing appears as people in El Paso search for commercial spaces.
Use effective marketing techniques like social media marketing to engage locals. Answer their questions and show them how the property will meet their needs.
3. Hire a Property Manager
To make the most of these real estate marketing tips, hire a property manager. Their property management strategies can boost tenant satisfaction rates.
Keeping your existing tenants happy can help you attract future tenants. Develop a referral program. Encourage tenants to recommend your commercial spaces by offering incentives.
A property manager can enhance your commercial real estate marketing plans. They'll use effective strategies like personalization. Tailoring your campaigns based on your target audience can lead to more engagement.
Apply Commercial Property Marketing Strategies
Leverage these commercial property marketing strategies as soon as possible. With these tips, you can reach new tenants to maximize your occupancy rate. Remember, you don't have to do it all alone.
Consider partnering with an experienced property management company. Our team at PMI El Paso is part of a fast-growing franchise. We've been changing the property management industry for over 20 years.
Trust our award-winning strategies, technology, and expert team. Contact us today for a free rental analysis.
