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.

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