The Voice of the Commercial Tenant
The move to remote or hybrid work following the COVID pandemic has decreased the demand for commercial real estate. With more people working at home, there is less of a need for office space.
Findings made by Deloitte indicate that experts are optimistic about the demand for commercial real estate for 2022. However, we are far from pre-pandemic days, and it is essential to provide tenants with an optimal experience to remain competitive in the commercial real estate industry.
Encouraging and harnessing the power of the commercial tenant’s voice is key to providing your tenants with the best possible service.
Below, we will highlight the importance of giving your commercial tenants a voice, as well as provide you with some tips and tricks to help you give your tenants a voice.
What Does It Mean to Give Your Tenants a Voice?
When you are leasing out a commercial property, you are providing a service, not just a good, to your commercial tenant.
It is not enough to simply hand over the keys to the property and give the tenant occupation to the premises for a set period. There is a lot that goes into maintaining the property and ensuring that it satisfies the needs of the commercial tenant throughout the lease period.
The best way to ensure that the premises meet the tenant's standards is to engage with the tenant. Show your tenant that they are not just a passive recipient of the leased premises. Rather, they are a valued customer, whose opinions matter.
Ultimately, you want to give your commercial tenant a voice. They should have their say in property matters that affect them as a tenant.
To give your tenants a voice, you should encourage feedback – both good and bad. If they have a problem with something, they should be able to let you know immediately. The same can be said if they see a potential problem arising in the future.
Similarly, encourage your tenants to provide you with any ideas they might have for improvement. This way, you can meet their expectations and provide a better experience for them. Moreover, if you implement any changes on the premises, you should invite their feedback on these changes.
Giving your tenants a voice is all about creating a safe space for them and their needs to be heard.
Why Is It Important?
If you give your tenants a voice, it becomes a lot easier to provide them with an optimal tenant experience.
This is partly because it becomes easier to gauge what their expectations are and how they are planning on using the facility. Once you know their expectations, it becomes a lot easier to meet them.
Moreover, if you are unable to meet some expectations, you can let your tenants know why as soon as possible so that they will not be disappointed down the line.
Giving your tenants a voice also makes it a lot easier to maintain and manage the property. This is because those occupying the property generally have much better insight into the state of the property.
For example, if there is a banging sound in the roof – your tenants will hear it. If the water pressure is poor, your tenants will be the first to realise it. If the electricity goes down, it will be the tenants who will be the first to know.
Occupants of premises have an intimate knowledge of the property that evades those who do not occupy it. If you give your tenants a voice, they will alert you to any problems as they arise, making it easier for you to solve them and satisfy your tenants.
Further, giving your tenants a voice will allow them to provide you with constructive criticism and ideas for improvement. This can help you ensure your property is in its best possible condition.
Remember, if you give your tenants a voice, this shows them that you value them as tenants. When tenants feel valued, they are more likely to continue to lease property from you. They are also more likely to contribute to your good reputation.
Why Is It Often Not Considered?
Often, property managers believe that tenants will speak up if they have a problem. They believe that no news is good news, and often avoid trying to encourage their tenants to be more involved.
However, a tenant is not necessarily completely satisfied just because they haven’t alerted you to any problems they have. Often, a dissatisfied tenant will remain quiet and simply look for different premises upon the termination of the lease. Moreover, they might complain to other potential clients, harming your reputation.
Top 3 Tips For How Can You Get More Feedback from Your Tenants?
1. Ask The Right Questions
Many commercial tenants will not provide you with feedback without being encouraged. You need to seek out their feedback.
Ask them about their experience and put together a few simple questions that cover a variety of issues. Then, make sure you follow up on any dissatisfactions.
2. Make It Easy To Give Feedback
People are busy and are often reluctant to take time out of their day to make a report or type up some feedback they have.
So, make it as easy as possible for them to communicate with you. Have an effective tenant portal that they can access easily from their phones so that they can log any issues as soon as they come up.
It’s also a good idea to give them the option to give feedback anonymously. Some tenants may want to bring something up but don’t want to look like they’re complaining. So, having an anonymous channel would be beneficial and you can receive more honest feedback.
3. Conduct Regular Meetings
Another great way to gain feedback is to set a regular meeting or have a day where you’ll be available to answer queries and listen to your tenant’s feedback.
This gives them a chance to address you properly and discuss anything they may not be satisfied with.
To help your tenants make the most of your commercial property and retain them for longer, it is essential to give your tenants a voice. This is vital for providing a good tenant experience and gaining loyal tenants.
Use the tips above to start optimising your tenant's experience by giving them a voice.
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 Falcony | Observe.
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.
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