5 ways to ensure your commercial tenants stay put

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Brown exterior of a commercial building

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. 

Categories: Property Management, Business tips, Landlords, Commercial real estate, Renters
Tags: landlord, property management, renters, commercial real estate, commercial tenant, tenants, leasing


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The material provided here is for informational purposes only and is not intended and should not be considered as legal advice for your particular matter. You should contact your attorney to obtain advice with respect to any particular issue or problem. Applicability of the legal principles discussed in this material may differ substantially in individual situations.

While the Texas Association of REALTORS® has used reasonable efforts in collecting and preparing materials included here, due to the rapidly changing nature of the real estate marketplace and the law, and our reliance on information provided by outside sources, the Texas Association of REALTORS® makes no representation, warranty, or guarantee of the accuracy or reliability of any information provided here or elsewhere on texasrealestate.com. Any legal or other information found here, on texasrealestate.com, or at other sites to which we link, should be verified before it is relied upon.

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