Managers Real State Property - Create a Tenant Retention Plan - Part 2
Tenant retention program quality
A tenant retention program is an improvement in the leasing or management services provided by the real state property broker. This is the structure of a tenant retention program that could be applied to the mixture of lease in a retail shopping center:
1. All lease documents must be reviewed so that the key dates and critical performance issues flagged for follow up.
2. Any lease agreement relating to the performance of the tenant or the realization that the owner must be documented for the correct implementation of the right time.
3. Identify leases have upgrade programs as part of the occupation of tenants. These dates must be satisfied that the property retains a look of quality.
4. The requirements make each good lease should be reviewed, as it will have an impact on the pre-grant period expiration. All provisions of repair must be satisfied before the contract expires.
5. Any future rent reviews over the next two years should be marked for execution and also controlled by the type of review to apply. Any market analysis will be critical to the benchmarks of the rental market within the property and have some impact on the value of property in general. All revisions of market rents should be negotiated in a timely manner, due to the local housing market.
6. Tenants within the property must be grouped in the categories of anchor tenancies, leases desirable and leases do not really matter for the performance of the property. Each lease negotiated with each type of lease will be treated differently.
7. Close contact should be maintained with tenants in the building. The pressures of occupation in relation to the expansion or contraction must be identified early. Otherwise the movement will look for another tenant and property owner to another. Other agents and property managers will always talk to their tenants in an attempt to pass their property.
8. Tenants who are under financial pressure should be checked for its stability and its relevance to the future of the property. Maybe some simple rental assistance for the next six to 12 months will receive through their financial pressure. It is best to keep a good tenant to create a vacancy in the housing market.
9. As part of the retention program, it is desirable to establish benchmarks with the rent and expenses that apply to leases. This helps the leasing process and fast tracks of any lease or lease negotiation.
10. If a vacancy occurs on the property, occupancy short term lease with existing tenants others should be encouraged. This prevents the vacancy affect the image of the property in the eyes of the customer.
Rental programs with good retention characteristics close communication and relationship with all tenants and real state property. When they know the owner and property manager is there to help, occupation and future stability rental makes it much easier.
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