What if your Austin, Texas commercial property tenants decided to stay forever, providing you with an ongoing source of income? Improving tenant relations can make all the difference to long-term retention rates. You can avoid vacancies and have the peace of mind of knowing you have the best possible tenants.
As a property owner, you don't just own commercial properties; you're also a source of help to the tenants occupying those properties. Read on to learn how to nurture robust tenant relationships to ensure your success as a property owner.
Understand Their Needs
Don't assume you understand what your commercial tenants want or need. Instead, ask about their preferences, needs, goals, and concerns. Let your tenants know you want their feedback.
When a new tenant signs a lease for one of your commercial properties, let them know how they can best contact you. If they struggle to reach you, it could lead to frustration and miscommunication. You won't gain as many lease renewals if they don't like you as a landlord.
As you begin gathering feedback, apply their suggestions. Show tenants you care and want to improve.
Ask tenants if your communication skills meet their expectations. Request suggestions about your communication style. For example, maybe you respond slowly or don't contact tenants often enough.
Identify problem areas and start making improvements. Track your satisfaction rate to recognize if the changes you're making are working to improve tenant relationships.
When communicating with tenants, always be clear and concise. Make sure you communicate a message that's easy to understand. Use direct, simplified language and avoid jargon.
Jargon, slang, or complex concepts can confuse tenants, which could lead to misunderstandings. Whether you're sending a survey, reminder, or lease agreement, simplify your message.
Make sure each message has a clear purpose and call to action. Let tenants know how you want them to respond or act after they read your message.
Don't wait too long to respond to tenant inquiries, complaints, or requests. The longer they wait, the more frustrated they could become. Quick responses will show tenants that you respect their time and care about their needs.
If you can't resolve the issue quickly, let your tenants know.
Don't forget to set boundaries. Don't reach out unnecessarily or enter their unit without permission. Don't be rude, aggressive, defensive, or dismissive.
Making these mistakes can hurt your reputation and credibility. If you're struggling to respond quickly, hire a commercial property management company. They can handle these inquiries on your behalf to ensure you're meeting each tenant's needs.
Improve Tenant Relations Today
Improving tenant relations could help you retain tenants in Austin, Texas. You can gain an ongoing source of income from your commercial properties. Start using these tips for stronger relationships today!
Remember, hiring a commercial property management company could make all the difference. PMI Austin has nearly 20 years of industry experience. We can help reap the benefits of a well-managed investment.
Contact our team to discover how we can help you with your commercial properties.