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Top 10 tips for managing commercial tenants

Effective tenant management is the key to a successful investment so here are some industry veterans’ top 10 tips on how to best manage tenants.

Monday, February 26th 2018, 8:00AM

by The Landlord

Veteran commerical investor Olly Newland says being buddies with tenants makes it harder to be tough.

Think about commercial property and, odds are, that big industrial warehouses or glittering glass office blocks come to mind.

By its very nature, commercial property doesn’t have the emotions and personal attachments that residential property does.

Yet it is people – and people skills – that are key to a successful commercial investment.

That’s because keeping a commercial property tenanted is critical. Vacancies, and the related lack of cash flow, can be the death knell of a commercial investor.

For this reason, secure, longer term tenancies with good tenants should be the goal of any investor.

And, to achieve that, proactive and effective management of tenants is required.

So, in this month's issue of NZ Property Investor magazine, we turned to some commercial property experts to get their best tenant management tips.

Based on their advice, here’s our list of the top 10 tenant management tips:

1. Careful selection
2. Lease talk
3. Strategic planning
4. Keep tenants happy
5. Communication counts
6. Tailored engagement
7. Create a community
8. Maintenance moves
9. Retention tactics
10. Trouble-shooting

To get more information and details about our top tenant management tips, click here to get the digital issue of NZ Property Investor magazine.

Subscribe to NZ Property Investor magazine here to get great stories like this delivered to your mailbox every month.

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Resimac 5.30 4.86 4.94 5.30
RESIMAC Special - - - -
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The Co-operative Bank - Owner Occ 5.75 4.10 4.35 4.49
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TSB Bank 5.80 4.45 4.69 4.99
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Median 5.89 4.50 4.69 4.79

Last updated: 2 December 2018 8:39pm

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