How to Advertise Commercial Lease Rental Properties

Owning a commercial rental property can be an effective way to create a large source of relatively passive income. However, you cannot start earning income until you fill the vacancy in the property. When you have a commercial property sitting vacant, you need to get the word out that the property is available for rent. In this situation, you can advertise the vacancy in several areas. Advertising the vacancy in many different places can increase your odds of finding a tenant.

Instructions

1. Put a sign on the property or out by the road. While this is a basic step, it is essential when you want to rent out a commercial property. This is especially effective if the commercial property is in a high-traffic area. An entrepreneur could drive by and see the property for rent and then contact you about the opening.

2. Take out an ad in the classified section of your newspaper. Many businesses turn to the classified section to find properties that are available. When you need to list a property, this is one of the most cost-effective ways to do it. You can usually pay a nominal fee and have the ad in the newspaper for a few weeks.

3. Hire a real estate agent to help you market your property. Not every real estate agent will be willing to help with rental properties, but many offices specialize in this area. The real estate agent will take pictures of your property and list it on a rental database. The agent may also be able to use his contacts to find a renter for your commercial property. In exchange for this service, you will have to pay a fee that is typically based on a percentage of the rent.

4. Buy a listing with an online rental website. In many areas, you can pay a fee to have your property listed on a rental website. On these websites, you can typically include information about the property and photos. You can also include contact information so that potential renters can contact you about the opening.

5. Work with a property management firm to find a tenant for your property. Some property management companies specialize in commercial property and they can handle the advertising portion for you. If you hire a property manager, you will have to pay him a percentage of your monthly rent each time it is collected. However, you will not have to worry about overseeing the property or finding tenants for it.

References

• Nolo; Where Landlords Can Advertise Their Rental Property; Janet Portman
• Find Law: Advertising Rental Property