Tenant Retention Strategies: Commercial Remodeling
Attracting and retaining tenants can be challenging for commercial property owners, especially in a competitive real estate market. Nowadays, building amenities are essential. Tenants are always on the lookout for properties that can provide them with a healthy working environment with all the essential shared amenities.
One solution is to utilize commercial remodeling as a tenant retention strategy. Here are some commercial remodeling tips that can help you attract and keep tenants in your commercial property:
Essential Shared Amenities
Parking spaces, high-speed internet, food options, and other shared amenities are crucial for tenants. Consider adding more options like a well-designed coffee shop, a co-working area, or a conference room. These can be open to both tenants and the public. Providing additional amenities helps to create a sense of community and pays dividends when it comes to tenant satisfaction and retention.
Interior and Exterior Improvements
Aesthetic improvements are essential in making your property more appealing to prospective tenants. There are many interior and exterior improvements for you to consider, including:
Adding design elements
Adding low-maintenance plants and art pieces
Hiring a landscaping company to create a beautiful green space
Repainting the walls
Investing in Security and Reception Service
Investing in safety and security measures ensures tenant safety and comfort. Consider 24-hour security systems, turnstiles, ID scanning, fire/intruder alarms, and well-lit areas. Reception services can create a welcoming environment. Additionally, you can invest in smart locks and badging systems to increase security further.
Utilize Smart Building Technology
Technology is becoming more popular among companies. Visitor management solutions, access control systems, smart devices, and other technologies can help commercial tenants become more productive in the workplace. Creating automated shared-use amenities is eye-catching, functional, and most importantly, automated, so you don't have to control access to these booths manually.
Conclusion
Remodeling your commercial property by following these strategies can help attract and retain tenants, increase the value of your property, and beat your competition. By prioritizing amenities based on your target audience and location, you'll be able to improve your tenant retention. For details about these strategies, please contact Treasure Valley Remodel and Restoration in Nampa, Idaho.