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How do I determine an appropriate, competitive rent for my commercial property?

To maintain good occupancy rates in your commercial property, you must offer rents that are competitive with other similar commercial properties in the area.  If you are managing your own property, you should undertake a comparative market analysis that compares your commercial property with others of a similar size, type and location. Note that getting information about the rents charged by other landlords, or their internal building improvements, may be difficult to obtain.

Engaging an experienced commercial property manager is a great idea.  With their years of experience, they can provide you with a realistic market analysis quickly. They can inspect your property and compare it with similar commercial or industrial properties under their management.  A good commercial property manager will also be able to help you set a rent that will make sure your property is leased at the earliest possible opportunity, whilst also maximising your investment return.
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