When investing in Cleveland commercial real estate, acquiring and retaining high-quality tenants is the key to success. Good tenants will take care of the property and pay their rent on time. They are professionals who will help your business thrive and recommend your other properties to their friends and colleagues. You can implement proven tactics into your strategy to appeal to the best tenants in Cleveland, Ohio, and inspire them to connect. Let’s take a look at the best ways to attract quality tenants.
Focus on Tenant Satisfaction
Promising tenant satisfaction should be one of your top priorities because satisfied tenants tend to stay longer and tell their friends and colleagues about their wonderful landlord. Additionally, having a solid property management plan and team in place will ensure your commercial property is run efficiently. Consider distributing a survey to measure tenant satisfaction. Surveys allow you to address any problems your tenants might have without taking too much of their time or making anyone feel uncomfortable. Completing these surveys as a regular occurrence, your tenants will realize that you care about their happiness and well-being.
Offer Fiber-Optic Internet Connectivity
Having access to high-speed internet is critical to your tenants’ business operations. Fiber-optic internet carries a significant advantage above regular high-speed broadband with increased consistency, speed and bandwidth. Performing a site-wide installation of fiber-optic internet can be a powerful marketing tool. Your future tenants will appreciate the opportunity to save money on installation while having the benefits of the fastest internet service available.
Leverage Your Anchor Tenant
Anchor tenants are what attract other tenants. This is especially true with retail leases. Anchor tenants and national tenants can draw in customers and other businesses. Having longevity as a Cleveland property manager is often predicated on which retail establishment is the anchor in the shopping center.
Easy Access to Parking
Creating professional relationships with parking merchants can be a valuable service to business tenants. If you are considering options to improve parking access, always keep tenant safety in mind. Prioritize relationships with parking merchants who offer well-lit spaces or security cameras, particularly for prospective tenants working late hours. Having a well-lit parking structure is often underestimated but goes a long way with tenants, especially in Cleveland shopping centers.
Understand Your Market
Performing market research is an effective way to accelerate to meet potential tenants’ needs and satisfy existing tenants. Tenant priorities can vary according to the neighborhood and industry and profile of the tenants’ employees. For example, if your market tends to employ quite a few parents, on-site childcare facilities could be in demand.
By surveying your existing clients’ pain points and listening carefully to your prospective clients, you can learn more about your market’s priorities. Once you understand your ideal tenants’ priorities, you can invest in innovative improvements.
With these tips in mind, you should have no problem attracting the best tenants to build a thriving real estate business. If you have any questions, please don’t hesitate to reach out to us. Our team of experienced professionals is here to help you with all of your commercial real estate needs.
To learn more about how CRESCO, Greater Cleveland’s leading commercial real estate company, can help you with your property needs, contact us at 216.520.1200, or fill out the form below. A CRESCO professional will contact you shortly.