Happy Tenants Mean Good Business - How to Maintain Great Relationships With Your Commercial Tenants
Make Sure Your Mid-MO Tenants Want to Stay With These Commercial Real Estate Tips From Lindner Properties
A fair and respectful dynamic between landlord and tenant is key to long-term success in the operation of a commercial building. Not only is it a nice principle to follow, but it will also ensure the people involved are here to stay. If your team knows how to draw attention from tenants, but can’t provide them with what they need as the lease continues, you will have trouble retaining them. When your Columbia, MO business is known to be dependable, it can keep tenants happy for the long haul and open new doors for opportunities.
At Lindner Properties, we’ve been present for hundreds of commercial lease agreements and understand what it means to take good care of a tenant. Whether you’re answering their questions about the term or fixing up the common areas, there are multiple factors that can prevent a new tenant from becoming a former tenant in Columbia, MO. Follow along with our commercial real estate tips!
Why is a good tenant-landlord relationship important in mid-Missouri commercial real estate?
When your commercial building is left vacant, it can mess with your flow of income and force you to begin marketing the available spaces, which can cost money to advertise. Every landlord has a slightly different method of communication with their tenants, from face-to-face conversations to automated software, but it’s important to keep that line of connection open through every lease. Additionally, tenants who feel like their needs are addressed will be more likely to practice efficient maintenance in their unit, keeping the property in beautiful shape. In a healthy tenant-landlord relationship, you can have confidence that people will join your team and choose to renew their leases when the time comes.
However, building this sense of trust can’t happen in one day. Many steps are essential to remember as you attempt to maintain a positive relationship with the people in your Columbia, MO commercial building. Utilize these strategies to set a strong foundation for the decades to come!
Offer transparent communication & answer questions for your commercial tenants
First and foremost, a landlord should have a consistent form of communication with all the tenants in their rental space. They should know how to reach you if there’s a question about the lease terms or if you need to announce certain renovations coming to the building. You can also schedule “check-in” meetings that ask your tenants about their feelings toward the space individually. When everybody feels like their opinion has been heard, it will be productive in helping you find the best solutions. This is shared commercial real estate, and the smartest way to move forward is by giving your tenants clear directions and resources for communicating. You never want them to feel like they’re sitting in the dark without vital information, so take initiative in getting to know each person entering your building in Columbia, MO.
Give mass updates to everyone in your mid-MO commercial building when necessary
Once you have been acquainted with all your commercial tenants on an individual level, it is time to optimize your communication with the full group of them. If you need to notify them about upcoming building changes, information about events, or rules for common areas, you can use an online portal or offer an email newsletter to send updates. This will help you avoid confusing scenarios and keep a record of interactions with tenants in your commercial property. Whether you send updates every couple of weeks or once a month, it is reassuring for Columbia, MO tenants to know their landlord is assessing the area properly.
Clearly outline your lease agreement with a new tenant in Columbia, MO
One of the most important steps in building your relationship with a commercial tenant is signing the lease agreement. To avoid miscommunication, you should use direct language in the contract and set official rules for both parties. Lease agreements can vary across landlords and tenants in central Missouri, but they typically establish key terms like who pays for utilities, insurance, property repairs, and more. A well-crafted lease agreement can outline other rules for commercial tenants, such as noise levels or smoking policies.
When informed of these conditions in a timely and respectful manner, it is much easier to resolve an issue before it becomes a dispute between landlord and tenant. Communicating early will show them you have the experience it takes to give them the best commercial real estate in Columbia, MO.
Be accommodating of your central Missouri commercial tenants’ lease term needs
Every tenant has different needs, and offering flexibility with term renewals can make them feel secure about their decision to rent with you in Columbia, MO. When people don’t feel trapped in an agreement, they often feel more incentivized to continue leasing with their landlord. Some of the most common lease term benefits include discounted rates for longtime tenants, month-to-month leases, short-term leases, and more. When you’re willing to have an open conversation about their lease, it shows that you are a reasonable and fair landlord who cares for the property.
Use a kind, professional approach if there is a dispute about your Columbia, MO commercial property
Sometimes, a tenant and landlord have a disagreement regarding the details of their lease, or a party violates a part of the agreement. Most commercial real estate disputes revolve around the breaking of a lease policy. Tenants may have fees to pay for an early termination, and it is usually expected that they notify the landlord through written notice at least 30 to 60 days before ending their lease in Columbia, MO. These topics should always be approached with professionalism and politeness, speaking in a neutral tone to keep the relationship cordial as you work through your dispute.
Landlords and tenants alike often benefit from having a commercial real estate attorney to progress the discussion formally. By using different resources and stating your interest in solving the matter, commercial tenants in mid-Missouri can navigate your property with the confidence to speak up about important issues.
Upgrade the building’s amenities with commercial tenants in mind
Think of the ways your property can be optimized to meet the needs of your tenants. What is your parking system like? Do you offer shared amenities? The more a space is modeled to help commercial tenants with their day-to-day duties, the more productively they can operate, increasing the chances of them renewing their lease. Another side of commercial development is tailoring a space where tenants can build a community. Implementing features like computer labs, break rooms, outdoor areas, and more will add to the atmosphere instead of closing tenants away from each other. Landlords can also bring people together by providing wellness programs throughout the year or hosting tenant appreciation events in their Columbia, MO property.
Plenty of tenant-focused amenities are growing in commercial spaces that offer convenient benefits or even relieve stress in the workplace. Some businesses implement gyms and on-site clinics to satisfy health and fitness needs, while others provide entertainment like pickleball courts or children’s play areas. Certain amenities can be updated based on the tenants’ industry, so it is vital to learn this information in the lease agreement process.
Take efficient care of your commercial property for rent in Columbia, MO & keep it clean
If your commercial real estate has any common areas that you are responsible for, such as waiting rooms or lobbies, it will be important to make sure these spaces aren’t outdated or messy. It’s not just bad for tenants, but possibly their clients as well! People will want to return to a property with clean floors, good furnishing, and structural security, making it one of your main priorities to keep up appearances throughout the commercial space. Public bathrooms are also a section that will need consistent monitoring and maintenance. Whether you carry out these tasks yourself or hire a janitorial service, this demonstration of care will keep mid-Missouri tenants happy.
Respond quickly to maintenance requests from your mid-MO commercial tenant
Nothing in a commercial building can last forever, and there are multiple pieces that fit together to make a space easy to manage. Timely and efficient responses to maintenance requests are essential for maintaining a positive relationship with your commercial tenants in Columbia, MO. When issues arise with plumbing, electrical systems, or reports of pest or mold, prompt action demonstrates your commitment to their business operations and overall satisfaction. Delays can lead to disruptions, financial losses for tenants, and a decline in their trust in your property management. By prioritizing quick solutions, you ensure their continued success and foster a long-term, mutually beneficial tenancy. If you want to lower the number of maintenance requests being sent, take proactive measures like scheduling routine inspections, fixing minor damages around the property, and more will further exceed your commercial tenants’ expectations.
You should also inform tenants on how they can send maintenance requests. Every commercial landlord practices different methods, whether they use an online portal to check messages or ask that you call or email them directly. Keeping tenants updated or letting them know when the maintenance request is complete will ease their worries substantially and look to you as a reliable source.
You & Your Tenants Will Be Pleased With Commercial Real Estate Provided By Lindner Properties. Get in Touch to Find Your Commercial Property in Columbia, MO
With a diverse selection of locations and more than 40 years in the business, Lindner Properties is a fanatic of all things commercial real estate. Our affiliate property managers know the necessities of both tenants and landlords in Columbia, Jefferson City, and Sedalia, allowing us to help you feel confident in your investment. The experts at Lindner Properties can answer your questions about lease terms, common area maintenance, tenant communication, and so much more. Reach out to begin building your vision of success and strong relationships in a commercial space!
