BOMA Magazine: Keeping Tenants Happy
Here’s a riddle for you: How is a building manager like a circus juggler? Answer: If anything falls down, people notice. In the case of a property manager, that can include your boss, your ownership entity and the group on which the entire structure hinges: your tenants.
Let’s face it: If you don’t have satisfied tenants, you have no product. Quarterly earnings, capital expenditures for amenities, future asset value all come tumbling down like so many juggling pins. In this new age of tenant expectations for flexibility in leasing, the consumerization of the workplace and the emphasis on “tenant experience,” property managers are expected to meet many different needs. At the same time, many property management teams are facing staffing shortages and are spending extra hours to solve problems as they arise.
With so many factors at play, it can be all too easy to overlook an unhappy tenant who stays relatively quiet about just how unhappy they are—right up until the point you learn they are not renewing their lease.
Learn more about how to keep tenants happy and read other great content in the latest issue of BOMA Magazine.