Combined, the two have 55 years of experience and have completed more than 15 million sf in lease transactions. They recently gave sat down with GlobeSt.com and gave advice on critical landlord issues.
First, look to lock in early renewals, they say. In today's market, it's not unusual for tenants to begin looking around when they have two years left on a five-year lease.
In order to keep tenants in your building, emphasize "proactive tenant communications," they say. Find out if the tenant needs to expand or contract, for example.
If you hope to keep a tenant, you must provide excellent property management, whether with a third-party company or in-house, they say.
And finally, now is not the time to defer problems with buildings, they emphasize, no matter how tempting it is not to spend money in tough times.
Landlords need to cure functional obsolescence, whether it related to the HVAC system, elevators or parking, they tell GlobeSt.com.
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