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4 Reasons to Engage More With Your Tenants

Engaging With Your Tenants

As a building professional, does your team do a good job at engaging with your tenants? Perhaps you may find it a little challenging to spark conversations as you pass in the hallway or other public areas. Well, engaging with clients is a really good way to improve the way your tenants think of living or working at your property. There’s an abundance of information you can glean from these interactions that not only make the tenant feel appreciated, but there are details that can feed better decisions for your team. So, let’s look at why engaging more with your tenants makes good sense.
1. Interacting with tenants can improve overall satisfaction and retention: By engaging with tenants more often, you can foster a positive relationship and ensure their satisfaction. When tenants feel valued and heard, they are more likely to renew their leases and stay in the property longer. This reduces tenant turnover and vacancy rates, and as a study by CBRE found, the average tenant turnover is $4,000 per square foot.
2. Enhanced Communication: With regular engagement with tenants (i.e., emails, newsletters), property owners and managers can address any concerns, maintenance requests, or issues promptly. This leads to an improved tenant experience as clear communication channels build trust and minimize potential misunderstandings.
3. Increased Property Value! Engaging with tenants allows property owners and managers to gather feedback and insights on the property’s strengths and areas for improvement. Understanding tenant needs and preferences can give you valuable insight regarding property upgrades, amenities, and services.
4. Reputation and Referrals: Positive tenant engagement contributes to a property’s reputation. Satisfied tenants are more likely to provide referrals to potential tenants, enhancing the property’s visibility and desirability. A good reputation among tenants can attract quality businesses and tenants in the future.

As you undoubtedly know, engaging with tenants is an ongoing process that requires a good deal of effort. But as you can see, through more thoughtful interaction, commercial property owners can build strong relationships, increase tenant satisfaction, and ultimately maximize the value and success of their properties.