It can take upwards of 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 leased space 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 business 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 commercial property management. Please contact us for further assistance!
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 not rely solely on this information. We encourage our clients to work with a lawyer experienced in commercial and/or residential real estate matters as they can be complicated and confusing.
