5 ways to ensure your commercial tenants stay put
03/16/2016 | Author: Editorial Staff
You know it can be time-consuming and expensive to find new tenants for a commercial property. Instead, why not focus on giving your current tenants reasons to stick around? Start by considering these tips.
Don’t skimp on upgrades. Proper maintenance is a given, but consider if your property’s amenities are inadequate. Is it time to offer a fitness center for your tenants in a currently unused space or upgrade to eco-friendly facilities?
Negotiate leases ahead of time. You don’t have to wait until a lease nears its end date to negotiate a renewal. Even 12-24 months in advance is OK, and it could mean locking them in for a longer stay.
Brag on your building. Remind your tenants about features like upgrades you recently completed or convenience to nearby businesses, like mail centers and public transportation
Support your tenants. Ask about their business and offer to help promote their events, like a grand opening or seasonal sales. And show tenants how important they are by hosting appreciation events.
Keep an eye on the competition. Find out what amenities nearby properties offer ... if any. Use this information to stay ahead of your competition and remind your tenants why your property is the best choice.
What strategies help you retain commercial tenants? Share yours in the comments below.
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