The type of tenants you have in your commercial property can dramatically impact your return on investment.
Hand-holding or excessive wear and tear can quickly reduce cash flow and increase staffing and building expenses. On the other hand, a renter who operates autonomously and goes above and beyond with building care and maintenance may increase the value of your commercial asset.
Attracting tenants that best fit your space and management style is the key to being a successful landlord.
Attracting and Retaining Great Tenants
Here are a few things to consider in your attempts to attract and retain great tenants:
- Location: Always at the top of the list when it comes to real estate, an appealing location will attract many tenants, allowing you a larger pool to choose from.
- Access: Buildings with easy access and plenty of parking can be hard to come by. Having great accessibility at your commercial property can help secure an exceptional tenant.
- Safety: Safety is typically at the top of the wish list of a high-quality tenant. Offering top-notch building security is extremely attractive for prospective renters.
- Appearance: Appealing interior and exterior appearance helps your building stand out amongst other options, driving higher cash flow and quality tenants.
- Amenities: Shared amenities (conference rooms, lounges, kitchens, etc.) are great tools in marketing to a wide variety of renters.
- Responsiveness: As a landlord, responsiveness is crucial in attracting and retaining great tenants. Whether scheduling showings or following up on maintenance requests, quick responses are always appreciated.
- Feedback: Collecting feedback and doing all you can to keep renters satisfied is the best way to keep solid tenants.
Use Your Broker
Using your broker for property marketing and recommendations on best landlord practices will guarantee high-quality tenants. Experienced commercial real estate agents know where to look to find great tenants and the right questions to ask to ensure a smooth lease going forward.
Please contact Steve Longenecker at WeBrokerCORealEstate or 720-600-9513 regarding any commercial real estate needs in Longmont, CO, and our neighboring communities.
We give out $250 gift cards for referrals that become our real estate clients.
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