Owning a property with retail spaces may generate revenue and create attractive destinations - but only with an active leasing program in place in today's retail landscape. Traditional retail chains are consolidating, and securing new long-term tenants at desired rental rates is becoming increasingly difficult, with a typical lead time of three to nine months.
Meanwhile, vacant areas must be stimulated with events to keep your store, district, or street appealing to customers and generating traffic while you search for your next long-term tenants.
NoOrdinaryScent Pop Up, Stockholm This is where the Pop Up store concept comes in handy. The growth of e-commerce competition has necessitated that online firms establish relationships with their offline clients. Landlords can address these demands by giving temporary space to these brands while also offering consumers innovative offline experiences.
These Pop Ups serve a variety of functions, including direct sales, launching limited-edition collections, and increasing online-to-offline penetration. Additionally, we engage with non-retail segments interested in developing new branding channels in store formats - from technology to digital entertainment - such as Warner Bros, VanMoof, and Hedvig.
Klättermussen Pop Up, Stockholm
But, hey! This is all very interesting, but what problem are we attempting to solve? Developing a constant pipeline of brands and ensuring that Pop Up leasing processes function smoothly is no easy task. This activity includes prospecting brands, posting space listings, pricing for seasons, exchanging needless amounts of mail, negotiating, signing, and delivering - all within short and important time frames to secure Pop Up partnerships.
By connecting brands to short term spaces on a large scale, xNomad expands your brand's reach, increases rental revenue, and ensures a smooth and effective leasing management process through our partnership, where we help landlords manage listings, availability, bookings, reservations, payments, contracting, and negotiations in an all-in-one online package. As straightforward as booking a hotel room. We are able to assist landlords in easily generating a more profitable revenue stream and Pop Up pipeline for three primary reasons:
Colorama Pop Up, Stockholm
1) Reduce negotiation period
Traditionally, landlords and brands have negotiated leases for an average of three to nine months. When leasing managers negotiate a lease in the usual manner, i.e. leasing managers to brand managers, a variety of things might affect the process. These factors include the size of the space, the lease's market worth, the willingness of each party to bargain, and the number of rounds. Both parties desire favorable leasing conditions. Neither party, however, profits from an unduly lengthy process.
The booking procedure for xNomad can cut the negotiation period in half, from nine months to three weeks on average. With extensive information on spaces displayed on our platform, tenants may get a sense of the facilities before submitting inquiries. On our platform, landlords can decide whether to proceed or not. After a decision is made to proceed, xNomad will dispatch our concierges to negotiate and make offers from both parties' views in order to reach a compromise. This procedure can significantly reduce waiting time and quicken the negotiation process by up to 220 percent.
The most frequently asked question we receive from landlords is, "Do we need to modify their legal terms because this is a short-term rental?" No, it is not. It is still commercial leasing, the parties involved are the same, and the only variable is the term of the lease. As a result, landlords are not required to make significant adjustments to their legal terms. If you have any unique demands for modifying certain terms, we have knowledgeable real estate professionals who may make recommendations.
The second often asked issue by property owners is, "Do we need to amend our contracts in order to accommodate xNomad's policies?" - Not at all. Your property remains yours, and you have the right to maintain it in its current state.
VanMoof Pop Up, Copenhagen
"How can we ensure that the space is always ready and flawless when a renter vacates?" Our crew is prepared for this. Once you entrust us with your unoccupied spaces, you won't have to worry about maintenance or inconvenience. Our sales specialists will remind and support tenants in returning the space on time and in preparing it for the next tenant. Once the current brand has departed, our real estate specialists will evaluate the stores once more to ensure that no detail has been overlooked.
To recap, if you're looking to add a new revenue stream or keep your monthly rental income efficiently, our marketplace platform can assist you in listing your spaces and finding your ideal potential tenants.Trying out now 👉 www.xnomad.co
Voi Pop Up, Stockholm