Letting Your Office Floor at D Plaza: A Guide for Owners
For owners of an office floor at D Plaza: setting the right rent, preparing the floor, the target tenant, discreet marketing and the lease.
At D Plaza on Yıldız Posta Street in Gayrettepe, almost all floors are let to businesses. This means the value of an office floor in the building is largely determined by the right tenant and the right lease terms. In this post we take owners who want to let their office floor at D Plaza through the process step by step.
Setting the right rent
A rent set above the market can leave the floor vacant for a long time and lower total income; pricing too low means falling short of the floor's income potential. The right level is set by looking together at the size, technical features, lease terms and letting periods of floors in comparable buildings.
Preparing the floor for letting
A prospective tenant's first impression matters. Maintaining technical systems, checking washrooms and the kitchen area, cleaning and, if needed, small improvements such as repainting help the floor let sooner. An up-to-date floor plan and good photographs speed up corporate tenants' decisions.
The target tenant profile
A floor of about 685 m² suits mid-sized companies that want their team on one floor, regional head offices, consultancy and finance firms, law firms and professional services offices. Because care is taken at D Plaza that tenants' activities fit the other businesses in the building, compliance with the building rules should also be assessed when choosing a tenant.
Discreet marketing
Not every owner wants their floor marketed with a public listing. In a discreet approach, the floor is offered directly to selected corporate tenants and companies known to be searching before any listing appears. This protects the routine of both the owner and the existing tenants.
What to watch in the lease
- Term and reviews: lease term, annual review method and renewal terms.
- Security: a deposit or bank guarantee and its refund conditions.
- Alterations: the scope of the tenant's fit-out and the floor's condition on exit.
- Charges: who pays service and common charges.
- Handover report: a photographic record of the floor's condition at handover.
How we manage the process
The process starts with a free value analysis: the floor's location, size and condition are assessed against current demand and a target tenant profile is defined. The floor is then offered through targeted marketing or discreetly, and the negotiation, lease and handover are managed end to end.
Assessing a prospective tenant
The tenant matters as much as the rent. Assess the applicant's activity, company size and track record, ability to pay, how they will use the floor and their visitor traffic together. A long-term corporate tenant is usually better for income stability and the floor's condition than tenants who change at short intervals.
Shortening vacancy periods
Every month a floor stands empty means lost rent while service and maintenance costs continue. Starting marketing before the current tenant leaves, keeping the floor ready to let, setting rent expectations in line with market data and making decisions quickly are the main ways to shorten vacancy.
Our general guide to D Plaza: D Plaza offices for rent.
If you want to let your office floor at D Plaza, please get in touch with us.
Özkan ÖZEL
Strategic Real Estate Asset Management
Beşiktaş / Istanbul
ozkanozel.com
#DPlaza #GayrettepePlazaOffice #OfficeLeasing #YildizPostaStreet
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