Curb Appeal – Does Your Property Make a Statement?
If your property does not stand out from your competition you are losing both money and value!
I recently toured over 35 retail centers taking photos and making notes. What I found is that the majority of properties were grossly mis-managed. My observations included:
- Poorly maintained and/or dying landscaping
- Faded, worn-out traffic and directional signage
- Stickers and graffiti on buildings, light standards, bollards, storefronts and site improvements
- Faded, peeling and tired looking red curbs, light standards, bollards
- Vacant storefronts with cobwebs, filthy mullions, stickers and advertisements
- Vacancies that have not been cleaned and/or have trash thrown inside the mail slot onto the floor
- Fire hydrants that desperately need a fresh coat of paint
- Trip and fall hazards
- The list goes on and on…
I understand that the economy is weak. As a property owner you are dealing with vacancies that you are trying to lease. Cash flow is tight and some of your tenants are struggling to stay in business and to pay their rent. To make matters worse you may be working with tenants who are struggling and who may even be delinquent. You think that you cannot afford to make improvements to your property but that is where you are wrong. With competition on practically every corner, I maintain that you cannot afford to NOT make the improvements that will set you apart from your competition!
As far as those vacancies go, prospective tenants have options. They want to locate in a property that will compliment their business. A tired, run-down, poorly maintained and managed property makes their chance for success that much harder. They have one strike against them before they even open their doors. All other factors being the same, what tenant, in their right mind, would choose the property that is “tired” and neglected over a property that has a high degree of curb appeal and pride of ownership? Instead of investing money to make your property appealing, you end up having to lower your rental rates which means you are losing even more money and value!
Customers have choices too. Given the option of patronizing a property that shows pride of ownership or one that is “tired” and “neglected”, many patrons would much prefer the property with great curb appeal!
To quote Albert Einstein, the definition of insanity is “Doing the same thing over and over again and expecting different results.”
If you feel that you, your property management company and your leasing agents are doing everything possible to achieve your desired results, I am happy for you.
If, on the other hand, you keep doing the same thing over and over again, expecting different results, we need to talk!
I can help you maximize the value of your investment!
Call me at 619.807.7802 or email me at BClark@CommercialPropertyServices.net and let’s schedule a meeting to discuss how we can work together to not only increase you cash flow but increase the value of your properties.
Brad Clark, CSM
Principal | Broker | Contractor
COMMERCIAL PROPERTY SERVICES
The Definition of Insanity – Albert Einstein
“Doing the same thing over and over again and expecting different results.”