2 Steps to Achieving Positive Tenant Experience in Property Management
In our previous blog, The Secret to Successful Property Management, we briefly touched on the idea of the tenant first approach. Let’s dive a little deeper on this concept, as it is a top factor in the success of a property. A robust rent roll is everything, so understanding and providing for the needs of every tenant is paramount.
Property managers should continually focus on creating a positive tenant experience. In this new of era of technology that makes life easier and more convenient, tenants expect more. Especially as there is an influx in younger professionals entering the workforce who focus on experience, technology and work-life balance.
New Approaches to Improving Tenant Experience in Commercial Real Estate
New approaches in property management have led to improved experiences for tenants through technology that provides personalized and intuitive applications. For example, real estate giants like JLL and Cushman have elevated tenant experiences by providing an app where tenants can access a variety of programmings such as yoga, educational workshops, and social events.
“Commercial real estate owners need to make the shift from rent collectors to instead, service providers.”
The goal of the application is to facilitate the role of commercial real estate owners as service providers. Successful companies are making the shift in providing the space that tenants want. Open space offices, robust amenities packages, attractive interior designs, and collaborative work environments are just a few of the physical manifestations commercial real estate companies are providing. Another shift that landlords should be setting their focus on is, prioritizing business intelligence tools.
Tenant expectations will continue to evolve and as they do technology will play an increasing role in that growth. Real estate companies will need technology to help gain visibility into each of their tenants needs. The need for a holistic property management solution is necessary to elevate tenant experience, deliver value and drive operational efficiency.
Download this guide, Taking Control of the Full Property Management Ecosystem to learn the importance of a holistic Property Management Solution and how to successfully roll-out a Property Management Solution.