Tenant Engagement

Tenant engagement relates to the experience a tenant or building user receives within a particular building. Factors include providing amenities and services that tenants love and fostering a sense of community through networking and events. Landlords and office building providers will typically have a tenant engagement strategy which focuses on increasing levels of engagement and tenant satisfaction to reduce churn, attract new tenants and add value. This can often mean that higher rental values can be achieved as a result. 

With the rise in flexible workspace (its global market value at a whopping $26 billion) consideration into tenant engagement is not just a “nice-to-have” but fundamental to retaining tenants that can easily move on with a month’s notice if unsatisfied. Competition in the flex space market is fierce and therefore tenant engagement has become a key aspect of attracting and retaining quality tenants. Today, office space is an on-demand service, and modern tenants have high expectations around the experience they will get within the building. Successful commercial landlords are no longer simply rent collectors but community managers.

What is the building layout like and how easy is it for tenants to navigate around the building? Is there an on-site gym and interesting events? Are they able to order lunch straight to their desk? Is there an ongoing office debate about the air-conditioning? Is it a nightmare trying to access the building out-of-hours? Asking these types of questions and uncovering the pain points that tenants have within the building will greatly improve their experience.

Tenant engagement can be tracked by harnessing technology. Digital platforms offer dashboards and analytics to track building usage and engagement levels meaning that experiences can constantly be iterated to provide what tenants really want.