Preferred Tenant Amenities in the Commercial Real Estate Space
While preferred occupant amenities are more streamlined among residential properties, those within commercial property management can also provide particular amenities that will make their building more attractive to tenants, as discussed in this blog.
Competition in the commercial real estate space can be steep, and if you wish to attract savvy tenants, then you need to look beyond offering low rents and favorable lease terms. Many people associate preferred amenities as more of a residential property line item, but in reality, amenities are every bit as important to tenants seeking a commercial space. Today, commercial property management demands that you offer prospects amenities that they consider valuable and worth paying for. Such amenities facilitate the day-to-day working experience for tenants, and in some cases, may offer significant savings on time and money. If your property scores high in terms of location, then you can really boost your chances of leasing it out to responsible tenants by providing useful amenities. Listed below are some of the most-preferred amenities within the commercial realm.
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Energy efficiency practices
With the entire business community increasingly recognizing the importance of the thumbprint that we leave on the earth as well as the costs associated with it, it’s no wonder that one of the top features that many tenants seek is the sign of energy efficient measures. Some of the steps that you can take to implement such practices include:
- Using compact fluorescent lamps (CFLs) instead of incandescent lamps. CFLs consume far less power and significantly reduce the lighting bill.
- Replacing older motors with newer models that consume less power and offers more savings
- Considering the installation of solar panels or fuel cells to complement grid-based fossil fuel power. This helps to cut costs and is environment friendly.
An awesome advantage to implementing these kinds of measures is the opportunity to receive help from the government in terms of costs Check if your state and local governments offer you any tax rebates for instituting measures to improve energy efficiency.
Give your tenants the option of eating at the premise itself. Corporates will value the availability of a good menu that is just an elevator ride away and does not involve covering a block or two every day. Food and beverage vendors can add to the appeal of the premises and also meld nicely with the corporate client’s brand image.
Flexible open hours
The days of working nine to five with weekends off are long gone. Commercial property management experts that offer access to premises, facilities and utilities to meet their client’s needs will have an edge over those that try to save by shutting the power off during weekends and at other times that may be traditionally considered “off hours.” What you may not know is that you can actually negotiate with utilities providers to offer you power supply at rates that best suit the working hours of your clients. This will allow you to provide your tenants with the benefit of adhering to their schedule while still potentially saving costs.
Consider creating a tastefully done lounge where tenants within different organizations can relax and rejuvenate themselves without having to step out of the building. This is another thoughtful amenity setting you apart from similar buildings that tenants are sure to appreciate.
Safety is an increasing priority for both property managers and tenants alike. If someone doesn’t feel safe within your building, they are unable to properly focus on their responsibilities at hand. Tenants need options for access to help in the event of an emergency. This makes safety systems like emergency help phones, security systems, surveillance and safety staff especially essential.
These are some of many preferred commercial real estate amenities that can actually become a revenue stream for savvy commercial property owners. Choose your amenities based on your budget, location and any business types that you are specifically targeting for leasing out office space. The bottom line is that property owners operate in a tenant’s market and they need to take positive steps proactively or risk untenanted spaces and mounting costs. For more information on how Kings III can keep your commercial property safe and appealing to tenants, visit www.kingsiii.com.
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