At Windermere Commercial Property Management, we pride ourselves in decades of successful experience working with all types of tenants and properties. Doing this takes an understanding of what both tenants and the property owners need for a long-term relationship. Here are a few tips.
- Be sure your rental/lease agreement is clear and covers everything, especially who is to take care of repairs indoors and out.
- If your tenant is new in business, ask if they have a marketing and business plan in place before they commit to renting space. It doesn’t help you to rent to an inexperienced group destined to fail.
- Be responsive. Half of your relationship with a tenant is being accessible. Answer the phone and take care of emails within 24 hours. An ignored tenant is an upset tenant.
- Be honest. Any sign of dishonesty will taint your relationship from day one.
- Don’t ignore cosmetic improvements or your promises to fix things. When creating the lease agreement, be clear during your property inspection of what is to be done prior to moving in.
- Set rent levels appropriately. Raising rents is a tricky business, especially when the economy is unstable. It may be better to leave the rent at an affordable rate rather than sit on an empty space. A tenant may become long term if given the chance to succeed.
- Let renters know you appreciate them. Remind yourself that professionalism doesn’t preclude kindness. A card, small gift or tickets to a game can go along way toward smoothing future problems.