Partner Article

When did you last hear from your landlord?

Commercial landlords can reduce tenant loss by creating stronger direct relationships with clients and avoid becoming victims of an increasingly competitive market, according to chartered surveyors at Sanderson Weatherall.

“Like with a lot of client and supplier relationships, many business owners may move into a new property and find that their new landlord is suddenly less visible than during the deal making process,” said Tim Carter, Senior Surveyor.

“However, a new breed of landlord is emerging which is more engaged with existing, as well as prospective tenants. The aim is to give a better experience and retain happy customers, working on the principal of a bird in the hand being better than two in the bush. These landlords recognise that keeping tenants happy and creating lasting relationships based upon listening to customers’ needs and acting upon them reduces churn in occupancy.”

One example of such good practice comes from Marchday, owners of Lingfield Point, Darlington, and the estate management team. Direct contact and bi-annual perception studies are among the activities which have led to the site becoming a multiple award winner, including a recent British Council of Offices Test of Time award for the Memphis building, which was developed speculatively, but has proved a hugely successful home for the Student Loans Company.

Tim said: “We have had a lot of success in placing clients in Lingfield Point and they tend to stay a long time, telling us that they appreciate the regular contact and the changes and adaptations, however small, which come from that. The management team and owners are regularly talking directly with the tenants to ensure they are happy and to look for ways of improving the service they provide.

“What every landlord wants is full occupancy for as long as possible and, if tenants are not getting the best service, they know there is always a deal to be done elsewhere. That is why some landlords experience churn, because their customers think ‘what are we getting here that we won’t get elsewhere?’”.

A recent independent customer satisfaction survey resulted in all tenants which took part rating the service they received as good or excellent, and 100% saying they would recommend Lingfield Point to other businesses.

“This direct contact, listening and responding to the bad feedback, as well as the good, epitomises the extra mile landlords can go to, to be not only competitive but to also improve the service they provide,” said Tim.

“By reducing churn, the need for landlords to be constantly pushing for new business is eased and they can focus more greatly on providing a better environment for their occupants, which creates a cycle of improvement.”

This was posted in Bdaily's Members' News section by Recognition PR Business Team .