A row of brick buildings on the corner of a street.

Our Case Study on Strategizing Tenant Retention

For landlords, tenant turnover and its associated costs are a significant risk. These costs, including downtime, tenant finishes, rent abatement, and brokerage commissions, can rapidly accumulate, infringing on potential returns.

Since our establishment, Commercial Development Company has meticulously monitored tenant decision-making as leases reach maturity.

Understanding the Implications

As a leading full-service developer in the commercial real estate investment landscape, we acknowledge that tenant relocation, in certain circumstances, is inevitable.

During annual board meetings, we review a detailed account of occupancy, focusing on the cornerstone of our business: the retention rate. It also includes a thorough analysis of annual retention by property, portfolio, and trending retention since our inception.

Our Three-Step Approach to Tenant Retention

Our staff meets regularly to discuss the company’s portfolio progress. During these sessions, we discuss maintenance, lease concerns, and strategies for enhancement.

This is the initial step towards tenant retention. Our next step is building positive relationships with tenants, which is a crucial aspect of retention.

Our property managers communicate directly with our tenants, thereby establishing a rapport and setting the groundwork for the Commercial Development Company Standard.

It is crucial that everyone at our company is aligned with our vision: Our home is their home too!

That is why our team members are continually in communication with our properties and contributing wherever necessary. This sense of pride in ownership and relationship is infectious and encourages tenants to follow suit.

Proven Outcomes

The results are a testament to our strategy. Commercial Development Company’s portfolio is fully occupied, with over 53 tenants across 14 states and a historical tenant retention rate of an impressive 98.5 percent.