Tenant Science

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One of the greatest ways to increase the value of commercial real estate is through good property management. While buying a property at the right price is critical, what you do with it after the purchase is often more important. Here are some key tips for good property management.Keep tenants happyUnlike residential properties, it is very difficult and expensive to find new tenants for commercial properties. It can take two to nine months. A leasing commission isn't due until you sign the lease, and often you have to spend money on the space to make it leasable. Therefore the best way to maintain your income is to keep existing tenants from leaving.Maintaining a positive tenant relationship involves regular communication, anticipating their needs, and being proactive.Maintain the propertyThe appearance of a building is important for a business's success and tenants pay more for better maintained properties.