It can take up to two years to make up for the income lost when a tenant vacates instead of renewing the lease. The chance of lease renewal by a satisfied tenant is triple the chance of lease renewal by a dissatisfied tenant. To ensure that your commercial real estate tenants are satisfied with their residence in your property, it is important to develop a strategic plan for tenant management. The plan should include an assessment of, and a plan to meet, their real estate needs. You should develop a regular communications program with a single point of contact as well as an assessment program to measure the level of tenant satisfaction.
We are here to help you and your clients with all aspects of the commercial property management. Please contact us for further assistance!
There are no warranties, express or implied, including fitness for a particular purpose, made with respect to this communication. Nothing found herein should be construed as an attempt to offer or render a legal opinion or otherwise engage in the practice of law. You should obtain the advice of an attorney well versed in these matters.