A person having a property in a area suffering with high vacancies. The property has 4 portions of which 2 are?



A Person has a property in a area plagued by high vacancies.There are 4 portions out of which one is leased out XYZ co. whose lease term ends at the end of year and another one leased to other firm which extended its lease period for another 2 years at amount lower than previous agreement. The person has hired a broker to fill up the other two vacant portions. Suggest him how to retain the existing tenants, and how to attract other tenants for vacant portions, so that he earns profit without incurring loss?

A person having a property in a area suffering with high vacancies. The property has 4 portions of which 2 are?
Rate these answers

One Reply to “A person having a property in a area suffering with high vacancies. The property has 4 portions of which 2 are?”

  1. You should find out what similar properties are renting for in the area and make the lease terms similar so they can be competitive. The tenant would rather avoid the hassle of moving if you can give him terms similar to your competitors.

    You can also use the information about your market to then advertise for new tenants to fill in your vacancies. If the rent prices have dropped to below where it would cover your mortgage payments you might have to incur a loss when renting those units if at least for some time. Depending on your situation a negative cash flow unit might be better than a vacant unit.





Leave a Reply

Your email address will not be published. Required fields are marked *