According to a research study by the commercial real estate firm Jones Lang LaSalle, it can take up to two years to make up for the income lost by the loss of a tenant. And a 2011 study by the real estate market research firm Kingsley Associates notes that the chance of lease renewal by a satisfied tenant is triple the chance of lease renewal by dissatisfied tenants. To ensure that your commercial real estate tenants are satisfied with their residence in your property, it is important to develop a written strategic plan for tenant management. The plan should include an assessment of, and a plan to meet, their real estate needs. You should develop a regular communications program with a single point of contact, as well as an assessment program with appropriate metrics that measure the level of tenant satisfaction.

From: https://www.cleverism.com