Establishing and maintaining good working relationships with your commercial tenants is vital to your long-term success as an owner or landlord. Aside from common courtesy, satisfied tenants are more likely to be lasting tenants, helping you keep high occupancy rates. Gaining a reputation as someone who cares for tenant needs can even help you attract new, strong businesses to your properties. But what exactly does it look like to provide good customer service in the world of commercial real estate?
Working with tenants and managing commercial properties involves many types of tasks. It includes everything from setting up leasing and financial agreements to handling maintenance and building improvements. Depending on the size of your portfolio and the types of properties you manage, your relationships with tenants may require different things. But overall, there are a variety of ways that all owners and landlords can start off on the right foot. Let’s dive into what it takes to create and sustain solid commercial tenant relationships.
How to Get Started
Some landlords prefer to be hands-off, while others are more directly involved with their tenants. There’s no single right or wrong way to handle tenant relationships. However, no matter your working style, it is important to keep communication lines open with your commercial tenants. This way, you always know what is happening at each of your properties and what you need to take care of. Build a habit of frequent, open communication using the strategies below.
Be Available to Answer Questions
Your tenants should know how to contact you when they have questions about their lease agreement or concerns about their unit. You don’t want concerns and tensions to build up and grow over time until they get out of control. This is especially true of hot topics like lease management and common area maintenance (CAM). In situations like this where tenants and landlord must work together to handle expenses and property upkeep, it’s crucial to be as clear as possible from the beginning and to resolve any confusion immediately. Tenants who feel that they are being overcharged or kept in the dark about finances are less likely to renew their leases.
Show Tenants that You Care About Their Needs
You can’t fulfill every tenant request, and some tenants just won’t be happy no matter how hard you try! However, you can still show tenants your commitment to meeting their needs and that you care about their continued business.
Respond to maintenance requests quickly and keep tenants updated on repair and upkeep schedules. For the clearest, most efficient communication, use a commercial property management software like STRATAFOLIO that includes an online portal for tenants to report maintenance issues.
If more complex concerns arise, take the time to talk to your tenants. Whether the issue is about finances, lease terms, or property conditions, understanding tenant perspectives is key to making informed choices. Tenants will be happier and more likely to stick around if they feel heard and know that you make decisions with their businesses in mind.
Send Out Regular Mass Updates
Email lists are a great way to stay in contact with commercial tenants. We recommend a monthly or quarterly newsletter with updates. In addition, send out an email to everyone when there are sudden changes like repairs, construction, or updates to rules. This helps eliminate confusion and keeps everyone on the same page.
Conduct Individual Check-Ins
When possible, get to know your tenants individually. Scheduling visits to your properties can help you better understand their unique needs and concerns. It also demonstrates that you are committed to providing a positive experience.
Of course, if you have a large or far-flung portfolio, logistics can make it impossible to meet with every tenant yourself. In this case, virtual meetings, personalized emails, and good local property management go a long way. Regardless of how you do it, the most important thing is that tenants know that you or someone on their team understands their specific situation and has their needs in mind.
The Bottom Line
Communication with your tenants matters, and as the landlord, it is your job to keep those lines open. Let them know that you’re here to answer their questions and set their mind at ease. If you haven’t sent out an email or talked to your commercial tenants lately, now is the time to reach out.
STRATAFOLIO Makes Tenant Communications Easy
If you need help managing your tenant information or staying in touch, turn to STRATAFOLIO. When integrated with QuickBooks, this powerful tool allows you to keep all your commercial real estate data and analytics in one place. In addition, a convenient tenant portal lets tenants access their lease information, make online rent payments, and submit maintenance requests.
No matter how many commercial tenant relationships you have to maintain, STRATAFOLIO can make it easier! Contact us today for your free demo.
