With so many options to choose from, why do you go back to eat at that same restaurant, shop at the same department store, or choose to fly the same airline? While there might be many potential answers here, I know one to always be true: These businesses meet or exceed your expectations with the service they provide.
While delivering some level of tenant service might be standard in commercial real estate property management, going the extra mile and making an effort to know the general attitude of your tenants at any given moment can really boost your brand and help you retain and attract tenants. I think we all know what an uphill battle it is to get back into the good graces of someone you have previously disappointed, so knowing as soon as an issue occurs is imperative and allows you to take immediate action.
According to the Daily News, an unsatisfied customer will tell 9-13 people about their bad experience with a company, and it can take up to 12 positive experiences to make up for just 1 negative experience. For every customer that does formally complain about a poor experience, there are 26 who remain silent. It is frightening to think about how many people we may have disappointed without even knowing something was wrong.
That’s why regularly measuring tenant satisfaction at your property is crucial to your organizational success. Frequently asking your tenants for feedback shows that you care about making their space a place they can succeed in. More contact with each tenant will lead to greater personal connection they can trust in. That trust leads to loyalty, and loyalty leads to many more lease renewals (yay!).
You can also utilize the feedback you have consistently gathered to show prospective tenants the top-tier service you provide. If you have been highly rated or have received testimonials from those businesses that call your building home, you instantly become more credible to anyone with interest in your available spaces. Your current tenants are doing the selling for you!
Finally, and probably most importantly, measuring tenant satisfaction on a regular basis can point to areas that are in need of improvement. Truly understanding how others view a specific situation or area can be next to impossible – unless you ask! You might realize that there is a more efficient way to do a daily activity, that you need to hire more staff, or that an area of the building could really use an upgrade. Any organization that is always looking for ways to improve will set the pace in such a competitive market.
So think about the office you arrive at each morning and the expectations you have of your working environment. What services should your building manager provide as a standard? Come up with questions, a ranking/scoring system, and a method of delivery to get started today!