6 Effective Ways to Attract and Retain Commercial Tenants
Commercial tenants are the lifeblood of any property. They provide the revenue that pays for the building’s upkeep and management. So it is crucial to work on attracting and retaining them.
You can attract commercial tenants to your property in many ways. You can offer them amenities like a gym, parking, restaurants, etc. You can also provide them with services like facilities management, marketing or leasing agents, etc.
Retaining commercial tenants is just as important as attracting them because you will have to continuously persuade them to stay on your property if they decide not to renew their lease with you.
If you are a landlord, it is your responsibility to create an environment that attracts commercial tenants. With that in mind, here are 6 Effective Ways to Attract and Retain Commercial Tenants.
1) Be Searchable
To attract and retain commercial tenants, you need to be searchable. You are searchable means that potential tenants can find your property easily through search engines such as Google.
The first thing to do is create an attractive website with an easy-to-use interface. The website is where potential tenants will find you in the first place. You should also have a social media presence, as this can be a good way for people to find your company if they don’t know about it.
The website and social media account should have all the information about your property. This information includes pictures, video tours, floor plans, and other information about the property. All this information should be easily accessible for people to find when looking for a place.
Secondly, ensure that you regularly update your website and account with new content to stay fresh in people’s minds, and they are more likely to revisit it.
2) Welcoming Lobby
A welcoming lobby can mean the difference between attracting and retaining commercial tenants. So what are some ways to make a welcoming lobby?
There are different ways for you to create a welcoming lobby in your commercial property. According to a home cleaning services NYC company, keeping your entry clean and tidy is one way to make it more welcoming for everyone that sees it. Here are a few other tips on creating a welcoming foyer:
- Keep the entrance clean, have a good smell, and have plenty of light.
- Create an environment that is warm and inviting.
- Create a space that is flexible for various needs.
- Include features like artwork and greenery to create an inviting atmosphere.
With a welcoming lobby, people may be more interested in using your services and coming on as a tenant.
3) Easy access to parking and transportation
Parking and transportation access are essential for attracting and retaining commercial tenants. The more parking spaces a property has, the more likely it is to attract commercial tenants.
Commercial tenants want to know that parking will be available close to the building they are leasing, so they can park their cars as close as possible. They also want to know that there will be enough parking spaces for their employees or customers. You can use tools like ParqEx for that.
Property managers need to provide accessible parking and transportation access to retain commercial tenants. If a commercial tenant has difficulty accessing the building and finding a place to park, they may look for another property with better accessibility.
4) Offer a Modern Experience
To attract and retain commercial tenants, it is necessary that the building be up-to-date with modern trends. These trends include providing amenities such as a fitness center, conference room, and concierge service.
Aside from modern amenities, modern tools and features in the spaces your tenants are renting are also critical.
5) Improve the Exterior
There are several things that commercial landlords can do to improve the exterior of their property and attract and retain commercial tenants.
The first thing is to make sure that the exterior looks attractive. This step means having a well-maintained building with a fresh coat of paint, gorgeous landscaping, and clear signage.
Another thing that commercial landlords can do is to make sure the building is safe. Making it safe includes:
- Installing adequate lighting.
- Providing access control systems.
- Ensuring no significant safety hazards on sites, such as broken glass or loose scaffolding.
These steps make a positive experience for current tenants and appeal to anyone interested in staying in a safe place.
6) Ensure Your Tenants’ Voices are Heard
To attract and retain commercial tenants, one must first ensure their voices are heard. The landlord or property manager must be open to feedback, complaints, and comments from their tenants.
Landlords often have a lot of work on their plates when it comes to managing a building. These tasks can lead to them losing sight of the needs of the tenants in their construction. The best way to avoid this is by ensuring that you listen to all feedback by having an open dialogue with your tenants.
Creating positive experiences for current tenants can also attract more potential tenants for your commercial property. If you want to improve your chances of retaining and finding tenants, follow these 6 Effective Ways to Attract and Retain Commercial Tenants.
Guest Author: Andi Croft