Property Management – Calabasas
Calabasas Property Management
Woodland Hills Property Management
West Hills Property Management
San Fernando Valley Property Management
Carnahan property management and long term tenant retention
As a part of one’s comprehensive property management, every property owner and the Carnahan property manager must have a retention strategy that can help one see long term benefits.
Here are some points that can help all involved in commercial property management in Calabasas:
- It is good idea to review the neighboring properties and understand the vacancy factors, their tenant mix and also the strengths and weaknesses in each of these competing properties. This can help you understand how the functioning of your own property can be enhanced. It will also help you to prevent these competitors from attracting your tenants.
- You should also do our homework regarding new property development in the area as this could impact the supply and demand in the locality. Naturally, these new properties are likely to have rental spaces and their chances of giving potential renters lucrative incentives can soften the rental market and affect your own vacancy rates.
- Planning and preparation is the key here. You must constantly review your own existing leases and come up with plans and strategies for getting these lease renewed or at least have the weaker tenants replaced. The leases that are about to expire within the coming two years must be of immediate concern to you.
These are some of the issues which must be considered as a part of your tenant retention strategy. Naturally, you will also need to take into account the requirements of the owner when making all these decisions.
