When a commercial property becomes vacant, your goal turns to attracting tenants as quickly as possible.By understanding your ideal client's priorities, you can invest in smart improvements. The right marketing strategy for a commercial landlord may look much different in San Diego than it does in New York City. By offering the right on-site amenities and client engagement programs, landlords can gain an edge over their competition. In this blog, you'll learn 11 strategies to fill vacancies and maintain high tenant engagement.
Consider Offering Shared Amenities
Unusual vacant spaces in your building could be converted into shared conference or training rooms. Basements can be turned into shared exercise facilities for health-conscious employees or a childcare center for parents who work on-site.If your tenants have requested on-site dining options, consider offering deals on rent to prospective coffee or food vendors. Access to reservable conference rooms and other shared building amenities can be a valuable service for prospective tenants in small or quickly growing organizations.
Engage Tenants in Conservation Efforts
If your existing tenants tend to be conservation and sustainability-conscious, consider implementing building-wide sustainability efforts. Offering site-wide recycling or even composting service can facilitate high tenant engagement. Consider creating a conservation group with business representatives from your tenant's companies to suggest and implement improvements.LEED certified buildings are growing in popularity across the country because of the health and environmental benefits of their build. Tenants are attracted to buildings that have made steps to consider the environment, things like air quality and lighting are now on tenant lists.To further ensure your building is maintained properly, contact OpenWorks. OpenWorks utilizes low environmental impact cleaning chemicals and dispensing systems. They provide support for your recycling program to divert waste from landfills. Their program promotes source reduction from sanitary paper products and trash liners, while emphasizing the use of products that meet EPA guidelines for post-consumer recycled content. OpenWorks supports water conservation and improved employee and patron hygiene with no-touch restroom accessories and waterless hand sanitizers.Align your goals with OpenWorks: to promote stewardship and continuous improvement through a strong partnership that emphasizes low environmental impact cleaning policies and training. If you choose to pursue LEED certification, OpenWorks can provide you with the expertise to implement a comprehensive Environmental Management System for your facilities.
Leverage Your Anchor Tenant
Anchor tenants are what draw in other tenants, this is especially true with retail leases. Anchor tenants and national tenants have the ability to draw in customers and therefore, other businesses. Position the value of your asset in what others already see.
In your marketing materials and sales meetings, emphasize the steps you've taken to save your clients money. Energy-efficient improvements, fiber-optic Internet, and on-site parking are three ways your commercial spaces could be more cost-efficient than your competitors' properties.Additionally, every service offered on-site can maximize your tenants' employee productivity. If your building includes healthy dining options or a dry cleaner, emphasize these conveniences.
Understand Your Market
Performing market research can be among the most effective ways to fast track the right improvements in a soft real estate market. Client and prospective client priorities can vary according to city, neighborhood, and industry. Tech-heavy areas could prioritize fiber-optic Internet and on-site workout facilities more than parking access. In contrast, if your market tends to employ quite a few parents, on-site childcare facilities could be sought-after.By surveying your existing client's pain points and listening carefully to your prospective clients, you can understand your market's pain points and priorities.
Improve the Exterior
Small improvements to building exteriors and interiors can significantly elevate the appearance of your property. If you haven't hired a landscaping company, consider adding improvements to the green areas around your property.Adding indoor plants and art to building lobbies and hallways can create a more aesthetically pleasing environment for tenants. Hiring an indoor plant maintenance company that specializes in commercial spaces can lend convenience to your building improvement initiative. Exterior and interior improvements don't need to be costly to significantly improve the appearance of your commercial space.Proper maintenance and landscape care services can include a whole range of maintenance solutions. More importantly, it can be integral in maintaining the image of your company. OpenWorks offers daily, weekly, and monthly programs designed around your property needs.
Your commercial rental cannot rely on a for lease sign, it needs to be findable online and by commercial brokers. Visuals that speak to the details of the space combined with all of the necessary information (square footage, price, zoning) all show transparency in a listing. Tenants rely on research and details for their decision making, make your property easy to find and easy to find details out about.When a listing is present on a local commercial realtors website it receives more traction and adds to the legitimacy of the landlord.
Offering secured facilities can greatly ease tenant peace-of-mind, particularly for companies who may have employees working overnight or at other "odd" hours. While your city or neighborhood might not necessitate a building security guard or card access, improving lighting and adding security cameras can make your facility significantly safer.Be aware of existing security risks, such as dimly lit exits or overgrown shrubbery that could put tenants and their employees at risk. Most importantly, landlords should be proactive about responding to tenant security concerns or existing security issues such as a high rate of break-ins in the parking lot.
Offer Rewards for Referrals
Highly satisfied tenants can be your best marketing assets. If your existing tenants are thrilled with your facilities and customer service, they'll share with their friends.Landlords should create a program to reward existing tenants for qualified referrals, which could include anything from rent discounts to gift cards. Advertise your loyalty program to your existing tenants, and continue to remind your renters periodically about your loyalty program.
Keep Track of Local Amenities
Create relationships with local vendors who offer amenities that could be beneficial your tenants, such as coffee shops, catering vendors, dry cleaners, or business data specialists.Some landlords may be able to negotiate "first time client" discounts and coupons for their tenants from local vendors who are hoping to expand their business. Create a list of recommended local amenities with your prospective tenants and existing renters to let them know about local services.The nearby amenities cost you nothing and build appeal for tenants. Point out every day needs like a post office, coffee shop or banking during meetings and also include this online. It speaks to how the tenant will function in the location on a day to day basis.
Perform Tenant Satisfaction Surveying
Your existing tenants likely have the best perspective on how you're doing at meeting their needs. By regularly surveying your tenants on your customer service and amenities, you can gain critical insight into what matters to your clients. By prioritizing the improvements that matter to your tenants, you can improve customer loyalty and increase your chances of winning tenant referrals.
Hire OpenWorks For Professional Cleaning
OpenWorks is guided by a simple philosophy: A cleaner, safer and healthier environment means a more productive workplace. This is our goal at OpenWorks – to offer more than maintenance by working with you to improve your work environment. Offering a clean and well maintained commercial space will attract the highest quality tenants to your property.
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