Managing Tenant Relations to Increase Long-Term Occupancy

In commercial and residential property management, maintaining a good relationship with your tenants is key to the success of every property. As any commercial real estate owner can tell you, bringing in a new tenant is much more expensive than keeping a current one. The best way to ensure your existing tenants stay for the long-term is by prioritizing tenant relationships.

Leasing spaces and building relationships

The relationship you have with your tenants starts before they even sign the lease, which means that first impressions are incredibly important. Make sure that every person a prospective tenant comes into contact with – from the property manager to the maintenance staff – works hard to create a positive first impression.

While on the surface it may not seem like it, screening prospective tenants is also a significant part of establishing a good relationship with your tenants. Without careful screening, not only could you end up with a problem tenant, but it could also disrupt your existing tenants – damaging your relationship with them as well.

Establishing relationships with existing tenants

There’s more to the landlord/tenant relationship than just collecting a rent check. It starts by establishing expectations early with a well-written lease and a clear-cut procedure for handling maintenance requests.

Beyond that, make sure to check in with your tenants on a regular basis to address any of their needs or concerns. Not only will this reaffirm the relationship, but it will also allow tenants a chance to give insight into any day-to-day issues that may be missed during routine inspections.

Remember that existing tenants appreciate the same things that you would do to attract new tenants –amenities, great service, favorable leasing arrangements. Don’t forget about your tenants after you did all that work to get them in the space.

Addressing any issues in a timely manner

Responsive handling of maintenance and repairs is one of the most important parts of maintaining a good relationship with your tenants. When a tenant makes a maintenance request, make sure it is completed in a timely manner. When it comes to maintenance issues, communication is key. If there will be a delay or change in the scope of work, respect your tenant’s time by keeping them informed.

Overseeing improvements to property and handling any disruptions

When making improvements to the property, make sure to keep your tenants informed of what is happening – before it happens. Giving them advanced warning will make it easier for them to adapt to any changes. Also, for commercial property management, it will allow your tenants enough time to warn their own clients and/or customers and to plan accordingly.

Hiring a commercial property management company like Millennium Properties is a great step towards building and maintaining a good relationship with your tenants. Our extensive experience in the industry gives us the ability to anticipate tenant needs and our proactive approach allows us to efficiently address any issues or maintenance. Give us a call today to see how we can help.