When it comes to effectively communicating with your Arizona commercial office real estate tenants, creating a strong relationship starts long before they move in. A research study conducted by the commercial real estate firm Jones Lang LaSalle found that it can take up to two years to make up for lost income after the loss of tenant. Another study noted that a satisfied tenant is three times more likely to renew than a dissatisfied one.
Camroad Properties builds transparency into all our office space in AZ lease agreements right from the start so we can get to know our tenants. It helps set the foundation for a good relationship and productive talks in the future. So how can you set up the relationship so that communication is productive and rewarding?
The Screening Process
It’s always difficult to know beforehand if the business interested in your office space in AZ is a good match or not, but do your due diligence and cover as much as you can through vetting. Run credit reports, background checks, call industry contacts, and take any steps necessary to reduce risk to yourself or the agency you represent.
Furthermore, take the time to get to know them; grab lunch together and talk about sports or family. Putting in this effort early builds the solid foundation that all following communication will rest.
Create Good Faith
There is only so much you can find out about someone through background checks and lunches. Another important part of setting up future productive communication is by limiting silent lease issues through development and refinement of your lease agreement.
Silent issues arise when a tenant does something that isn’t explicitly addressed in the lease agreement, but is something that you rather they not do. While no lease can cover every single scenario, Camroad Properties respects changing needs and craft lease agreements so that future talks are productive and rewarding for both parties.
Tackle Issues as They Arise
Whenever tenant infractions do arise, diffuse the tension sooner rather than later. Instead of quietly accumulating several small infractions and blowing up with legal intervention, communicate in writing as each infraction passes. Finding a safe place where good faith, speedy communication, and thorough conversation is shared between parties is what makes Camroad Properties different from the rest, and our clients agree!
When it comes to the communication itself whether over phone or email, handle each engagement promptly, courteously and formally. You want to have a good relationship with your office space in AZ tenants, so take the extra steps early in the process to go above and beyond their expectations. By feeling heard, the newly created partnership between Camroad Properties, brokers, and clients will be healthy and long lasting.
What are the best ways to communicate with your Arizona commercial office space tenants? Let us know by commenting on our LinkedIn page.
WRITTEN BY: Portia Dempsey