If you are a landlord in Brisbane and wanting to lease a property to a new tenant today, it pays to fully understand the leasing and vacancy competition that you are up against. Let’s face it, tenants are looking around at everything that is available, and they are more selective in making a final decision. They generally know what the rents are doing, they know what their cost limitations are, and they can generally ‘shop around’ for the ideal vacant premises.
What’s Your Leasing Focus?
So, what are your priorities in leasing premises? What do you prefer out of the following?
- A tenant leasing space?
- A high rental?
It is sometimes difficult to achieve both points of focus in the one leasing transaction. A good lease with a new tenant should be a priority. A ‘fair’ rent is the best way to attract a lease and tenant arrangement. The escalation of rent over time can then be improved by a rent review strategy.
Today’s property and leasing market in Brisbane provides a broad selection of vacant space to the active tenants in most locations. The vacancy rates in the local property precinct can make your selection of rental a key part of the leasing process. Add to this some other leasing decisions such as:
- Lease term
- Option availability
- Base rental
- Rent reviews
- Rental type (gross or net rent)
- Outgoings recovery
Expert leasing advice is critical here. Leasing a vacant tenancy is not just a simple decision. We guide our clients through some key decisions like those above so that the best lease can be created given all other property factors and pressures in the local area. Timeliness is important in getting a property leased today.