Anyone in the world of commercial real estate is familiar with the drastic changes experienced by the industry in the last few years.
Those tasked with leasing out commercial premises have to keep their finger on the pulse and stay up to date with industry trends to meet the changing tenant expectations. Engaging with contractors is a practice that is increasingly being used to improve the tenant experience and meet tenants' expectations.
The needs and expectations of the modern tenant are, in many ways, different from what they were a few decades (or even years) ago. While modern commercial tenants still expect to receive suitable premises, most commercial tenants will also expect a lot more.
For example, modern commercial tenants generally like to be more involved in decisions about the property. They also like to be kept up to date on any important developments.
Furthermore, tenants prefer renting from those who have embraced technology in their interactions with tenants. There are so many useful digital tools, such as mobile-first tenant portals, that can streamline and encourage communication between property managers and tenants.
Providing your tenants with a good experience can be what makes or breaks you in this industry. To remain competitive and make the most out of your properties, meeting tenants' well-being expectations is more important than ever.
If you are renovating a property, chances are your tenants will want to be kept in the loop and up to date on any developments made. They will also likely expect to have a say or be able to give input on major decisions made about the building and any renovations.
One of the biggest mistakes you can make when it comes to commercial property renovations is playing messenger between your tenants and your contractors.
Usually, contractors will send emails to property managers, who will then forward them to tenants. But, this can complicate things. The property manager becomes the gatekeeper of information that should flow freely between the contractors and tenants.
It is much easier for everyone involved if you and your contractors use a tenant portal to communicate with your tenants. It streamlines communication, increases tenant involvement, and improves your tenant's experience.
You should enable and encourage your contractors to use your tenant portal to keep your tenants up to date on any development through announcements. This takes away the need for you to be a middle man. Your tenant can access any information they may need about the property, including updates from contractors, in one place.
The Covid-19 pandemic has decreased the demand for commercial real estate. However, this major industry disruption can be seen as an opportunity to adapt and grow. Engaging contractors through the use of technologies such as tenants portals is an innovative way to get a leg up on your competition and improve tenant experience.
If your organisation is looking for a tool to involve all tenants in property management for better decision-making on workplace and property strategies, have a look at our 30-day free trial:
We are building the world's first operational involvement platform. Our mission is to make the process of finding, sharing, fixing and learning from issues and observations as easy as thinking about them and as rewarding as being remembered for them.
By doing this, we are making work more meaningful for all parties involved.
More information at falcony.io.