Tenants Pleased, Property Leased: How to Boost Tenant Satisfaction

property management

property managementProperty management success lies in none other than the tenants. It is simple: no tenants, no income, no business growth. For commercial property business to prosper, it is important to keep a strong portfolio of consistent, long-term tenants. And for you to do that, you need to focus on meeting their needs and building positive relationships with them.

Excellent management and strong relationship with commercial property managers are two main reasons tenants stay and renew their leases

The Method: ‘Tenant-Pleaser’ Program

You need to have a tenant management program to keep you aligned in your goal of providing tenant satisfaction. The first step in crafting such a program is understanding your tenants’ business. You have to know the facilities they need to keep their business running.

Start by considering how the space contributes to their brand. Does the space reflect what they want people to perceive them as? Does it reinforce and improve their image? You should also think about the technologies they need. If they need special equipment, it would be a plus if you can provide such.

It is also important to consider if the tenant holds huge meetings on a regular basis or if they are likely to expand. If their business is growing and your property does not accommodate this, tenants may make the move and switch to a bigger space.

Maintain open communication with tenants so you will know which needs have to be addressed. Encourage them to express their concerns. From there, coordinate with your team and the property owner on how you can better address tenants’ needs.

The Goal: Maximum Impact

The road to making sure that tenants are satisfied does not stop at developing a tenant management program. There should be consistency in your “tenant-pleasing” efforts. To do that, you need to follow-through. In the middle of the year, make it a point to assess the impact your program has created.

An effective way to evaluate is by running a survey on tenant satisfaction. Property managers must be detail-oriented and highly organised for these surveys to be a success. In drafting surveys, make it as simple and understandable as possible. But do not just ask questions that need a yes or no. Include open-ended questions and queries that require scaled answers. This will allow you to get more insightful answers that will help you improve your tenant management program.

How are you making and keeping your tenants happy and satisfied? Make a tenant management program now to ensure that your tenants remain pleased and your properties leased.