Global real estate investments were worth $165billion in the first quarter of this year seeing a rise of 15%. This was the best recorded quarterly performance since 2007. Rapid changes in tenant dynamics, customer demographic shifts, and ever-increasing needs for better and faster data access to allow improved service and amenities are changing the way the commercial real estate world works. However, the need for excellent tenant communications is still paramount to success within the industry.
There are many strategies that can be implemented and tips that can improve tenant communications and make commercial real estate business run smoothly and efficiently. Below are several key pointers that will help both property managers and tenants communicate professionally and to the best of their ability.
Executive Level: Who signs the lease? Business Contact: Who is the point‐person for meeting with members of the building team? Who meets with the property managers to discuss how things are going? Administrative: Who submits work orders or calls when something isn’t working or needs attention? Billing/AP: Who do you call when you need something paid? Groups: What are the groups of people you may need to communicate with such as emergency teams, mobility impaired, or emergency first responders?
By clearly defining all points of contact you can create a go-to list when implementing your commercial communications strategy.
Create frameworks for the most common communication types that will be used with tenants.
Consider daily communications, periodic scheduled messaging, crisis communications, and implementing a continuous feedback loop.
Use these frameworks to build a robust client communication plan that can be linked to your pre-defined target audiences for clarity and ease when communicating.
These items may include:
Clearly identify which building team members will be in charge of which action items, and set targets for completion.
Who will communicate with regard to leasing? What about billing? Who will you assign for work orders? What about emergencies?
Communicating proactively with tenants is one of the top ways property managers can increase tenant satisfaction.
Clearly describe the timeline for implementation of all regularly scheduled meetings/visits with tenants.
If a tenant service‐related (or any contentious) issue involves an exchange of more than 3 messages, go see that tenant in‐person to discuss the situation. Don’t forget to document the conversation!
With these five key areas addressed, here are some additional pointers to further improve your tenant communications.
By implementing the various tips outlined in this blog you will work towards rapidly improving your overall tenant communications strategy.
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