When you own a commercial building, your first priority is keeping it filled. So long as your building has vacancies, you’re losing money. And yet, it’s not enough just to ensure tenants for your building; you also need to make sure you have the right kind of tenants.
What do we mean by the right kind of tenants? An obvious point is creditworthiness; simply put, you need tenants who can and will pay their rent on time! Ideally, you also want tenants who are going to stick around for a while; having to refill the vacancy in a year’s time is hardly ideal. And of course, you want tenants who will make good neighbors for the other residents in your building.
There are a few steps landlords can take to ensure they get these high-quality tenants; here are just a few of our suggestions.
Securing the Right Kinds of Tenants
- Market your building effectively. Your building isn’t going to fill itself. You actually have to promote it—and not just in abstract terms, but with real specificity. Consider it this way: The more detail you provide about the building, the better-informed your potential tenants will be; in other words, you’re more likely to attract interest from people who are really a good fit for your facility.
- Ensure positive first impressions. Any potential tenant is going to want to see your building before they sign the lease—and when they arrive for their tour, it’s vital for your facility to look its very best. Make sure your maintenance crew has everything clean, spotless, and in good working order before a potential tenant arrives.
- Perform all the appropriate background checks. You have not only a right but a duty to look into potential tenants and make sure they’re good candidates for your building. That means performing a credit check to make sure they can actually pay you. It may also mean performing a criminal background check on individuals seeking space in your facility.
- Work with a property management company. Ultimately, the single best way to attract the right tenants is to work with a management company, like Kuester CRE. Your property management company can provide you with marketing channels you wouldn’t have access to otherwise, as well as robust tools for tenant screening.
Essentially, a property management company can eliminate the hassle involved with locating and then vetting potential tenants—helping you maintain a building that’s full, and tenants who are welcome additions to your commercial space.
We’d love to talk with you further about the commercial property management services offered by Kuester CRE. Connect with us today; you can call us at our toll-free number today: 855-723-2500.