Skip to main content

5 Ways to Become a Better Commercial Real Estate Landlord


These days, being a commercial real estate landlord is tough. As business gets more diverse, it’s not easy to upkeep, manage and overlook commercial properties and their tenants. Whether you own a multifamily, office, or retail property, perfecting the role as a landlord can elevate your asset to a whole new level.

Fortunately, there are strategies that can help overcome the industry’s prominent pain points and boost the CRE landlord workflows.

If you’re ready to improve and upgrade your commercial landlord skills, check out these 5 winning tips:

Get Tech Savvy

Technology is here, and at this point, there’s really no way around it.

Commercial landlords need to embrace the latest cutting-edge technologies that are dominating the field and reshaping the industry as a whole. Not only will it make the day-to-day tasks easier, but it will also appeal to contemporary tenants who expect tech to be a part of their landlord’s process.

Don’t lag behind - fuel your commercial property with the tools necessary to succeed in today’s competitive marketplace. Smart technologies, IoT, and data analysis servers are all great ways to bring your landlord workflow into the present.

Check-In With Tenants

Communication is key. Today’s tenants want to feel understood, respected, and most of all - heard. Landlords can benefit greatly by opening up a channel of communication between the tenants and property management.

Consider sending a bi-weekly or monthly email to touch base with your tenants, cover any pressing topics, and ensure that everything is going well. Remember, you don’t want to be overwhelming - but you don’t want to seem absent, either.

Consider Going Paperless

Making the decision to go paperless can save landlords time, money, and energy - especially when it comes to commercial properties. Going paperless is a great way to stay organized and consolidate all of the piles of paper into one neat and easy-to-access gateway. Plus, you’ll be doing something positive for the environment by cutting down on consuming paper products - the majority of which gets wasted the very same day.

Create a Community Around the Property

In today’s world, it’s all about community.

Commercial landlords can go beyond a mere property-based module by creating a community around their assets. Since many commercial properties, such as multifamily or office, are home to multiple tenants; everyone can benefit from cultivating feelings of togetherness and solidarity.

Happy tenants usually mean a happy landlord, so it never hurts to go out of your way to improve the tenant experience. Establish a community culture around your properties to boost tenant enthusiasm and engagement. 

Keep it Simple

Sometimes, it’s the simple things that yield the best results. When it comes to being a commercial landlord, don’t over-complicate things.

At the end of the day, the most important point is to ensure that the property is running smoothly, the tenants are satisfied, and you’re not overwhelmed by the workload. In today’s world, commercial property owners can greatly benefit from being flexible, patient, and understanding.

Employing these strategies will help commercial landlords remain current amidst the changing tides of contemporary business. 

Comments

Post a Comment

Popular posts from this blog

NAI Emory Hill Sells Wilmington Shopping Center

  Wilmington, DE – NAI Emory Hill ( www.naiemoryhill.com ) is pleased to announce the sale of a 8,710 square foot shopping center located at 2308 Concord Pike in Wilmington, DE to The Wittig Family at DSM Commercial. Dave Morrison and Jim O’Hara Jr., of NAI Emory Hill, represented the purchaser and Seller in this transaction. This retail center is anchored by Mattress Firm, Green Drop and China Inn. The center is strategically located at the intersection of Sharpley Road and offers a great retail location along the busy Route 202 corridor. NAI Emory Hill is a completely full-service commercial and residential real estate firm serving Delaware and the surrounding counties of Maryland, New Jersey and Pennsylvania. Founded in 1981, we have the resources to design, build, finance, lease, sell, manage and maintain commercial and residential properties throughout the Mid-Atlantic . Learn more about our services at: www.propertymanagementdelaware.com www.emoryhillhomes.com
Post a Comment
Read more

4 CRE Trends We Can Attribute to Millennials

Today’s workforce is undergoing a major shift in population. As of 2017, 56 million Millennials are either working or actively searching for work , making them the largest segment of the U.S. labor force, surpassing Gen Xers in 2016 and this will eventually lead to an impact of office space needs and what companies are looking for with new office leases.   More than one out of every three American workers is a Millennial -- more than Gen Xers and much more than Baby Boomers. And, just as every other generation that came before them, Millennials pride themselves on marching to the beat of their own drum, if you will -- wearing different clothes, listening to different music, and working differently. The very idea of where and how we work is undergoing a revolution right now, with major changes being made in physical design and decor. Here’s a closer look at 4 CRE trends we can attribute to millennials… 1. Millennials prefer non-traditional workspaces   ...
Post a Comment
Read more

5 Surprising Resident Amenity Trends to Watch in 2020

As we transition into 2020, commercial realestate professionals need to start gearing up for the emerging trends that are reshaping the industry. When it comes to the multifamily arena, these popular amenity trends are at the top of residents’ most-wanted lists. Here are the top trends based on the 2020 Apartment Resident Preference Report conducted by NMHC and Kingsley Associates. Smart-powered Voice Assistance According to the report’s data, digital voice assistants are highly coveted by the tenants of tomorrow. More than 40% of respondents say they’d be interested in living alongside a voice-powered AI home assistant, such as Amazon’s Alexa and other variations. Including this in your multifamily package can give you a competitive advantage in 2020 and also be an attractive marketing point. Consider adding in-unit voice assistants as a luxury amenity in your multifamily strategy. Pet-Friendly Amenities Pets are apart of the family, too! Multifamilyren...
Post a Comment
Read more