It’s one thing to get someone to sign a lease in your building but quite another to get them to renew that lease. First impressions may get companies to move in, but it’s how you handle things after the deal is done that encourages them to stay for the long run.
Your goal is to keep your office tenants happy. Here are the necessary steps to do that:
• Communicate. Don’t just show up six months before it’s time to renew a lease and attempt to foster a connection with companies then. Tenants should feel there’s an open dialogue, particularly when it comes to happenings in your building. For example, construction in the lobby should never come as a surprise.
In addition to informing tenants of building activity, check in with each tenant periodically. Find out if the office suite continues to suit the company’s needs. You may learn they need more or less office space in the future, which will help with your plans for the building.
• Be responsive. Be sure to return all phone calls and emails promptly. If tenants point out problems, get the issues addressed right away and keep people updated on the status of any delayed fixes or other open loops.
• Focus on safety. Office tenants want to feel property management takes security seriously. Installing plenty of lighting for late-night workers, having security guards on-duty and conducting safety drills periodically can reinforce tenant safety as a priority in your building.
• Keep it clean. No more leaky faucets or empty paper towel dispensers! Shared spaces like bathrooms and kitchens should be very well-maintained. This means they’re cleaned frequently and that maintenance personnel check them regularly for potential repairs. Be proactive so tenants are less likely to have to report problems themselves.
• Create a community. Try to create an environment that is warm and inviting, that fosters a sense of community among tenants. Encourage tenants to network and get to know one another by offering social events, on-site meal opportunities and comfortable, engaging lounge spaces. At the Atlanta Galleria Office Park, for example, they hold a tenant appreciation barbecue, ice cream social, holiday breakfast, and blood drives, among other activities.
• Update the property. Is your building’s overall look considered retro or is it simply old? It’s easy to get used to the appearance of a familiar space, and before long everything looks dated. Take time to reassess the look of flooring, furniture and décor to make sure everything is fresh and current.
Keeping office tenants satisfied is about consistently paying attention to and considering their needs. Are you doing all you can to make companies want to stay? These simple, proactive efforts you make as a property manager can help you reduce vacancies and compete more effectively against other buildings in your area.
