Marketing of commercial properties
Chapter 3.11
Learning Objectives:
Identify and describe the players in the commercial property market.
Ascertain the types of occupation and property tenure for commercial properties (whether strata/nonstrata) before marketing.
Determine the factors that affect the pricing of a strata-titled commercial property, including tenure, accessibility, size, shape and supporting facilities.
Determine special considerations in marketing offices, retail shops, commercial schools, childcare centres, kindergarten, tuition centres, show rooms and F&B outlets.
Ascertain a method of sale that best suits a particular commercial property or circumstance.
Determine a marketing mix or set of promotional tools for marketing a commercial property.
Apply and comply with URA, HDB, and other relevant authorities’ policies and guidelines when marketing commercial properties.
Explain the common terms, clauses and provisions in a commercial lease agreement.
Explain the approved use of properties.
Explain to landlord/tenant about penalties and consequences relating to illegal/unauthorised usage of commercial properties.
Explain the objectives of the Code of Conduct for Leasing of Retail Premises (CoC) developed by the Fair Tenancy Industry Committee (FTIC) and its application to qualifying retail premises.
Explain the guidelines and principles in the CoC and the use of the Checklist of CoC clauses for Lease Negotiations.
Explain the dispute resolution mechanism for any noncompliance with the CoC or dispute between landlords and tenants.