Managing vacancy is an unavoidable part of being a property owner or manager. Tenants can move locations or unfortunately close up shop, and it’s always tough to see them go. You develop a relationship with them, and they become a part of your community.
Plus, a vacant unit cuts into your bottom line. Every month that the unit stays empty affects your rent roll. You want to get this spot filled with the right tenant as soon as possible.
There are a number of ways that you reach new tenants looking for space in a commercial building, each with their own reach. You probably already use the tried-and-true method of listing online through Craigslist. You might also reach out to brokers and realtors who spread word of mouth about the vacancy in exchange for a fee. There’s even the classic method of purchasing print advertisements in local magazines or newspapers. All work, but the difficult part is standing out from the other buildings that advertise in the same ways.
If you’re a pro, your listings already have some key components. Adding high-quality photos, plenty of details, tenant testimonials, and even extra bonuses like gift cards can go a long way. But, there’s probably one other detail about your property that you might also want to include.
Your building’s best differentiator is most likely already on your roof. A King Energy solar system can attract new tenants and fill empty spaces by setting your property apart from the crowd. Here’s how you can quickly fill empty units:
Advertise your solar discount
If you have a King Energy solar system on your commercial rooftop, your tenants are already enjoying 10% off of their solar energy charges. But, solar savings aren’t just for clients that were in the building when the system was installed. It’s also extended to incoming renters as well, and you can also use that discount to your advantage.
Including a section in your listing about lower utility bills and energy savings from your onsite solar system could sway new tenants to lease in your building. Energy rates from the utility are increasing exponentially in 2023, and commercial tenants are now seeing massive increases in the cost of doing business–especially those with large energy needs. If you position your solar as a solution to this economic stress, you’ll gain a leg up on the competition.
Offer discounted energy to prospective tenants with a solar system
Also, talking about your system as a cost-saving benefit that comes at no risk makes your solar discount incredibly enticing to new tenants. All they have to do is move in, set up, and they have access to power that’s cheaper than the utility. They’ll still receive one bill like anywhere else, and they might even view the savings as an offset against the cost of rent.
Market your sustainability
You could also attract new tenants with solar by appealing to their desire to have a positive impact on the environment. A recent study by Neilsen found that “78% of consumers say a sustainable lifestyle is important to them,” and that number is only increasing.
Knowing that your commercial building offers renewable, solar energy could be a deciding factor in a tenant’s decision to sign a lease. Some local business owners may be looking for spaces that align with their personal beliefs while others are just looking for a more marketable location, but the value is undeniable.
Larger anchor tenants may also find value in using your building’s solar system to further their company’s ESG goals. These commitments are usually set at the corporate level and give stores environmental requirements to reduce their brand’s overall carbon footprint. Having a solar system on site, or having your building LEED-certified, could help them achieve these aims by increasing the amount of sustainable energy they use per year.
Use your local resources
It’s also a good idea to tap into community resources to add some credibility when trying to attract new tenants. Anything that you have online or in writing speaking to your building makes your location seem more appealing to tenants looking for a new lease. Whether a blog, news story, corporate listing, or review, they make your unit feel more concrete and separate your commercial building from other one-dimensional units.
Photography of a King Energy project adds value to media posts about your property
If you don’t have any coverage, consider writing to your local newspaper or TV station to see if they’d like to report on your solar system. These are multi-million dollar projects that have plenty of environmental and financial human-interest appeal, so there’s a good possibility that they’ll pick up the story. Your commercial building will get some free press, and you’ll be able to use photos or article links in your listings.
Showcase your options
Tenants could also appreciate that your building offers additional, locally-generated electricity options. They might have had a negative experience with your local utility or just appreciate having a choice in their decision. While all their power won’t come from the solar panels, the promise of a new experience could draw them in. Plus, the King Energy solar billing software, OneBill™, streamlines their monthly electricity statement and makes it easy to read and understand.
If they sign a lease with your building, they’ll also have a locally-generated power source creating energy directly above their storefront. Most business owners appreciate when consumers shop local, and they might enjoy having a local option for energy as well.
Find Tenants Faster with King Energy
All said and done, this entire solar pitch could be a few lines in your lease listing and a larger conversation during a walkthrough, but it could attract new tenants to your building and impact someone’s decision to sign a lease. Whether looking to save money, operate sustainably, or have local options, prospective tenants will view your ability to offer solar as a major differentiator.
A few pre-written options that you could include in an amenities or benefits section are:
- Our property has an on-site solar system, offering discounted, renewable energy to building tenants at 10% less than utility rates.
- Tenants in the building benefit from discounted power because of our King Energy solar system. They receive sustainable, locally-generated solar energy for 10% less than the utility rates.
- On-site solar system: The building’s solar system gives tenants access to renewable energy at 10% less than the utility.
If you are a property owner or manager that would like additional materials that further explain the solar system to prospective tenants, reach out to our account management team.
If you don’t yet have a solar system on your multi-tenant building, King Energy makes solar easy and financially beneficial for property owners and tenants. King Energy installs and maintains solar systems on commercial properties at no cost to landlords, paying them monthly rent for their roof space. The entire system is managed from end to end: no hidden costs, no complex contracts, and no capital investment from property owners. They enjoy an increased rent roll and property value, and their tenants receive access to solar energy that costs 10% less than the local utility.
Get a personalized proposal for your building by contacting our team.