If you’re a property manager in the Boulder or Denver area struggling to fill your vacant building then listen up. Building Signage is often one of the most important factors tenants consider when making a decision on where to lease. If you have a property that is off the beaten path, far from a major intersection, or is a little on the older side, then you may need to reevaluate your sign program.
Property Managers, you need LED SIGNS!
Most property management companies reevaluate their sign program about every 10 to 15 years. Here is some of the risks of not changing your sign program:
- Your municipality may have loosened some of the restrictions on the amount of signs, type of signs, and square footage allowed.
- Most sign programs are often not very professional documents. They are drab, old looking, and often confuse the tenant. Your sign program is a selling tool for your leasing agents. It should look like a marketing brochure, simple to read, nice illustrations, and give the potential tenant a reason to lease.
- Poor sign programs can increase your costs! Some sign programs actually call for Neon Channel Letters and other outdated technology. If you want to take advantage of reducing your utility costs make sure your document includes the use of LED’s and High Efficiency Ballast technology.
Like all effective marketing efforts, you need to spend money to make money. Investment in new building signage will bring in more tenants to your door. Here are some examples of effective techniques to improve your buildings signage.
- Electronic Message Centers: This is the single most effective tool a leasing agent has in attracting tenants and it is rarely used. Converting existing shopping center monument signs to LED monuments allow you to do the following:
- Provide an outlet for tenants to advertise their brand, products, or services. Some property managers often charge by the day, week, or even the hour for tenants to advertise on the display. Eventually the display is paid for and then continues to generate revenue for years!
- Advertise available space in your building. Used in conjunction with “For Lease” bannersand post and panel signs, electronic message centers can grab more attention and attract that new business owner driving by.
- A valuable deduction on your tax return. There are various options for the financing of LED displays. Displays can be leased for a low monthly payment, then expensed at the end of your financial period. LED displays can also be purchased up front, providing a valuable deduction for depreciation.
- Multi-Tenant Signs: Large wall mounted signs or increasing the size of existing monument signs can give more space for your tenant to promote themselves. Property managers should be thinking like tenants. Don’t make the process of getting a sign difficult. Be as flexible as possible because a successful tenant pays their rent. You can go from a simple monument sign illustrated below to something more graphical where tenats can seperate themselves from the resto of the tenants and illustrate thier branding.
So, property managers. Think out of the box and communicate the importance of updating your sign program to building owners. If you need help writing your program call SIGNDEALZ. We have done it for numerous shopping centers across the country. We can also help you on the ROI of adding a digital LED sign or message center.