Are you a landlord with vacant office space in Malta? Navigating the competitive commercial real estate market can be very challenging; that’s why every little detail can make a huge impact seeking to lease your office space faster and more efficiently. In this guide, we’ll explore some quick and effective hacks to make your property stand out in the bustling office market of Malta.
Polish Your Office Space Online Presence
In the digital age, your property’s online presentation matters. Ensure your office space is listed on reputable and experienced commercial real estate websites with eye-catching photos and detailed descriptions. Highlight unique features and amenities that set your space apart. An attractive online presence can significantly increase the visibility of your property.
Offer Competitive Prices
Research the current market rates in Malta and specifically in your area. Organise a meeting with an experienced commercial real estate agent to help you evaluate your office rental price and set a competitive rental rate for your office space. Consider important aspects like wheelchair access, outdoor area, parking spaces nearby, and furniture. Pricing your property appropriately will generate more interest and inquiries. Consider offering competitive rates or incentives for longer leases to attract committed tenants.
Network with Commercial Real Estate Professionals
It’s safe to say that days when one ad on Marketplace will rent your property are officially over. Collaboration with commercial real estate professionals is essential. Not only do they have a deep understanding of the market and can advertise your property to an incomparably wider audience, but also take professional photos, exact measurements, introduce it to potential tenants, filter clients, organise viewings, and help you prepare a lease agreement. Networking within the real estate community can expand your reach and expedite the leasing process.
Consider Furnishing Your Office Space
Furnishing your office space is a crucial step in creating an inviting and functional environment for potential tenants. A well-furnished office not only enhances the visual appeal but also helps tenants envision their business operations in the space. Often, offices are not shortlisted simply because clients struggle to feel or like an empty space, or because office furniture will take a long time to arrive. Offering your office space furnished (especially if it’s up to a 200sqm office) will speed up the renting process.
It is always good to work safely with neutral color schemes in furniture and décor to create a timeless and universally appealing look. Neutral tones also provide a blank canvas for tenants to personalise the space according to their brand identity. Often, some used good-quality furniture makes a great difference. You can also contact your commercial real estate agency and ask for their help in furnishing.
Maintain your Office Space and Premises Clean
A professional environment demands a professional approach. Nothing feels more awkward during a viewing than stepping over a pile of construction trash at the entrance of the premises or encountering a mess left by the previous tenant in the kitchenette. Maintaining a clean office space and premises is crucial for establishing a positive and professional environment. A tidy office reflects professionalism and attention to detail, leaving a positive impression on both yourself and potential tenants. Simply removing trash after previous tenants, decluttering premises, and keeping them fresh and clean will create a positive atmosphere, attract like-minded tenants and increase your chances to lease your office faster.
Respond Quickly
Time is of the essence in the leasing process. Respond promptly to inquiries, schedule viewings efficiently, provide a draft agreement promptly, and overall, keep your communication channels open. This increases your chances to rent your commercial premises fast by 40%. If you have more than one property to manage or you are not available 24/7, consider working with experienced commercial real estate agents that you can rely on. A quick and responsive approach reflects professionalism and can significantly impact a tenant’s decision-making process.
Leasing your office space in Malta can be a swift and successful process with the right approach. By implementing these landlord hacks, you can maximise the potential of your property, attract quality tenants, and lease your office space more efficiently in the extremely competitive commercial real estate market of Malta.
