Doing Business in Naples. Retail Space for Lease
On the internet, or in commercial realtors windows anywhere in Naples, retail space for lease is abundant. If you’re a landlord with some on your books these three tips should help you get them rented faster and for longer.

Now I don’t want to sound like some kind of thought guru trying to espouse mind over matter, but there is an element of truth to it. If a landlord thinks it’s going to take a long time to rent out a space because of the economy, it probably will.

This is purely down to the mindset of the landlord. Resigning yourself to a vacant lot is going to prevent you from taking immediate and robust action to get the property rented again. Thinking “I must get that retail space leased within the next five days” is going to spur you on to action. Action you may not have taken if you were resigned to having it empty.

Tip #2, offer some kind of reward for the paying of rent on time. This can be a discount, gift certificates, free time at another business you own, whatever. If you have a portfolio of properties you could even have a prize draw each month for those who pay on time. It’s amazing how much of an incentive it is.

This is psychology at work. You are actively trying to collect your rent on time, but doing it in a positive manner. Rather than demanding payment or bringing attention to the expense of the rent, you are concentrating the tenants mind on the prize. You would be amazed at how many defaulters or late payers this has turned around. The prize doesn’t have to be anything expensive, just don’t get caught up in spending as little as possible. It has to be worthwhile after all.

Tip #3, try to arrange to have your rent collected automatically. Many banks and financial institutions have an automatic payment facility, use it. In my experience, tenants who don’t have to think about paying rent stay longer, and default less. It makes it more convenient for them and they appreciate that. More importantly it makes it more convenient for you. Many landlords actively target tenants who can pay electronically, and say so in their adverts or literature. Not only does it offer the convenience, but also freedom. If your tenant is overseas, on holiday or even in jail, the rent will still be paid. In my opinion every landlord should do this for all their tenants.

Using lateral thinking is a great way of making you a more efficient landlord, while keeping the tenants happy. With the record amount of vacant rental space we have around at the moment, everything that can help keep the money coming in is a bonus.