Commercial Tenant Retention is Gold

by | Oct 1, 2023 | News

 

Having a ‘for lease’ sign outside your commercial building is something that we all deal with from time to time. This is even more likely in the current environment where businesses are reducing their commercial space as an outcome of remote/hybrid work arrangements while others are simply looking to reduce their fixed costs. However, having tenants choose not to resign because they aren’t happy where they are, is something no property manager wants to hear. Further to that, a key way to fill an empty office space is through the word of mouth of those that have ‘lived in’ experience.

Which is why providing positive tenant experiences that make your commercial building stand out from all the rest is so important. Below are just three ways to help retain your commercial tenants, and get them saying good things about the building and you.

Make it easy and safe to get in, up and out

Easy access into the building for those that work there is pretty obvious, as is making sure safety comes first.

It’s important that the security system in place 24/7 considers the key working hours for the tenants in the building while allowing for early starters and late leavers.

The visitor experience too is important. Visitors should intuitively be able to find the walk and parking entrances to the building, understand if there are security procedures required, and from there easily find the business they are visiting. Have you ever stepped into a visitor’s ‘shoes’ to see how easy it is to find your way around the buildings you manage? You might be surprised what you discover.

Poor maintenance to shared spaces is the start to a cycle of indifference

Whether the building is showing its age or brand new, there is no excuse for the entry, foyer spaces, the lift well or shared amenities to be dirty, poorly lit or underserviced.

Poor maintenance practices during the life of the building will start to show quickly and can soon become unmanageable. Having access to regular maintenance systems, processes and teams is the key to ensuring shared spaces don’t become a talking point at the water cooler.

And while we are on the subject; small unexpected touches go a long way to making people notice for the right reasons. Such as a regular refresh of reading material in the foyer, replacing the ‘scratchy’ toilet paper with the ‘softer’ version or topping up the hand sanitiser.

Don’t wait for your tenants to complain

Property management is a big job with constant demands on your time. So, suggesting you be proactive with your commercial tenants may seem like more work when in actual fact, it could be less. By having regular contact with your commercial tenants, through a monthly e-update for example, may help identify shared issues before they boil over. The same newsletter is also a great way to share updates on what you have been doing over the past month rather than assuming that ‘everyone knows’.

Of course, when a tenant does contact you on an issue it’s important to respond quickly. Even if that response is purely to let them know you have noted their email, and that it’s being addressed within a suitable time frame. And, if resolving the issue is going to take longer than first thought, let the tenant and others impacted know. Keeping everyone in the loop is the key to a successful tenant relationship after all.

But what if it’s the supplier that let you down?

A common area of frustration for property managers is having suppliers let them down. You can’t be everywhere at once, and finding out when it’s too late that regular jobs such as office cleaning or building checks are not being done to an agreed standard only puts you in a bad light with your tenants. Add to this, finding tradespeople for last minute emergency jobs can often result in numerous calls with little outcome while in the meantime your tenants are sending copious emails about the same problem.

This is where Quoject becomes your ‘go to’ support platform. Quoject is an end-to-end online portal that provides 24-hour online access to reliable local suppliers and tradespeople. By matching the right people to the right job, Quoject streamlines the quoting and selecting process and then tracks the tasks to their completion, right through to invoicing. With Quoject you have greater reassurance that regular property tasks are being done to the standard agreed on, and a database of trusted tradespeople to turn to when you need them most.

 

Quoject

Quoject

Recent Articles

More articles you may be interested in…