What are your competitive advantages for attracting tenants? Sometimes you have to think beyond a gym, parking, metro or a nearby coffee shop.
Here are five surprising ways you can attract new tenants. These are all amenities tenants are willing to pay extra for, so your ROI will be instantaneous.
1. Improve the Air Quality of Your Building
Have you updated your HVAC recently? It might be time. HVAC systems that bring more fresh air into the building are preferred by tenants. It’s also a great selling point, because you can advertise the added comfort as well as the health benefits of “museum-quality” indoor air.
You may not need to do an entire retrofit. In fact, a properly treated HVAC system can last up to 40 years. Just make sure you’re following these six steps to keep it clean and up to date.
Another way to improve air quality is to take advantage of economizers. Especially this time of year when the temperature inside your building is likely to be similar to the temperature outside, the more fresh air you use the better (and it’ll be cheaper too)!
2. Optimize the Building’s Use of Natural Light
There is a fine balance between getting enough natural light into your building, without getting too much. Especially during the summer, too much light shining through will make it challenging to cool the building efficiently. However, it may be worth the extra dollars if it makes the tenants happier. Tenants may be willing to pay more for space that has a lot of natural light, due to the fact that it encourages employee productivity and leads to employees taking fewer sick days.
3. Offer Flexible Office Space
Many of today’s office tenants are looking for flexible and convertible space. Rather than having individual offices and one conference room, tenants prefer options. They want to be able to move around the space, depending on what they are doing – sitting in a meeting, focusing on a project, or taking a mental break.
As it turns out, half of the space in most offices is unoccupied at any given time. Therefore, flexible space that can be easily used for many different things will be appreciated by tenants. When building a new space, consider malleable walls that can be put up or collapsed.
4. Allow for Shared Conference Rooms
If you have several different companies sharing a floor of your building, they may not need to each have their own conference rooms. Instead, they can share. That way, they won’t have to pay for underutilized space, but they will still have access to conference rooms when they need them.
5. Give Building Tenants Some Outdoor Space
Is there roof access for your building? Is there any space around the building that can be used for benches or tables? Tenants, especially those like me who bring their lunch to work every day, want a way to get some sunlight during the day. Granting access to some outdoor common space will increase tenant satisfaction – everyone is happier with a little vitamin D!
Which one of these suggestions will you try first? Have you been successful with anything we haven’t thought of? Let us know in the comments section!