(Originally Published October 11, 2019)
Being a commercial landlord is no easy task. This article will explore a number of tips for better tenant management.
We have put together a guide to help you to achieve better tenant management by streamlining processes, building in protective measures, and helping you save time, energy, and money.
This article will dive deeper into some tips and tricks for you to manage your commercial tenants better. Let’s get started now!
According to Unicom (see video below), 4 of the top challenges for commercial landlords in their property management included hiring and maintaining quality property managers, increasing revenue, unexpected damage and maintenance, and time management. Here are 5 tips to ensure you offer the best tenant management.
There are many ways to screen commercial tenants within Canada. You need to have tenants who will pay their rent on time, look after your property, and be reliable. The first step to adequately screening commercial tenants is to meet with the potential tenant and get a first impression. Use this first meeting to seek out their trustworthiness.
You can’t always tell everything from a first impression, it’s important to keep that in mind. However, you usually can get a general idea of who they are and what they are about.
Next, you’ll want to take a look at their application form. As a commercial landlord, it is crucial to have a rental application form. You can find and create commercial rental applications for free in Canada through Law Depot.
Remember, this is not a contract - it’s just an application. The rental application should ask for the legal business name, year it was established, type of business, financial information, and rental history, including references. For established businesses, don’t forget to look over their financial statements. For new businesses, be sure to review their business plans.
Finally, you should ensure that your tenants are able to pay and will agree to and abide by the terms of the lease.
One of the biggest risks of commercial leasing is the upkeep of the space. How can you guarantee the upkeep and maintenance of your commercial space? Include a commercial cleaner in the lease! By hiring a commercial cleaner as a part of your lease, you can control and even guarantee the same quality and consistency of cleanliness in all tenants.
This guarantees a certain standard of upkeep for the entire building, which allows you to prevent damage and unkept spaces.
At Kitchener Clean, we offer a variety of high quality and consistent commercial cleaning services to match your specific requirements. These include:
Whether you require daily, weekly, bi-weekly, monthly or "as needed cleaning,” Kitchener Clean can accommodate you. We are confident that once you try our services, you will stay with us. Contact us today for a free, no obligation, onsite quote.
KITCHENER CLEAN IN ACTION!
When drafting a lease, be sure to be very clear on your commercial tenants rights. Tenant-Landlord disputes can be expensive and time consuming. They are something you want to avoid as much as possible. In Ontario, tenants have a number of rights. You can learn more about Ontario tenant rights here.
In addition to selecting the right tenants and having an extensive application process, you should also be very clear on what tenants can and cannot do, and what you can and cannot do, so that the terms of the lease are cleared and agreed upon.
In general, tenant rights are included in the lease. If disputed, courts tend to decide based on the original lease terms for fairness. To create the best possible landlord-tenant relationship, be sure the terms of the lease are clear, agreed upon, and talked about before the lease is signed.
In order to be an excellent commercial landlord, you need to ensure that regular property maintenance is conducted. Without proper maintenance, your property can lose value, you can lose tenants, and you can lose money. Maintenance issues also decrease customer satisfaction and the probability of a renewed lease.
With commercial real estate, you can either require tenants to be responsible for the maintenance or you, the landlord, are responsible for the maintenance, depending on the terms of the lease. Either way, it is crucial that the terms of the maintenance are clear to all parties involved. It is also important to inform tenants of what they can and cannot change on the property.
As a commercial landlord, there are resources available to you, including those provided by local real estate boards, real estate networking groups, and property management software. Employing a property manager or property management firm for a commercial property can be a game changer!
The screening of a commercial property manager can be as important as screening tenants. They will often be the first point of contact with tenants and the first one to troubleshoot maintenance issues. You should be sure a prospective property manager has experience and good references.
To ensure that your commercial properties are managed successfully, you may require a property management software to help you maximize efficiency. To manage all of the moving parts, you should consider using LandlordMAX to keep all of your tenants, properties, and documents organized.
Kitchener Clean services a wide variety of industries all across the Kitchener and the surrounding areas. We offer commercial cleaning services to many different businesses, both big and small! If you are interested in learning more about the types of businesses we work with, see some examples below. You can also contact us to learn more.
Examples of Industries we serve:
We are happy to serve many different types of office spaces and workplaces, including restaurants, corporate offices, rec centres, and the ever-growing tech industry in the Kitchener-Waterloo area.
“We have recently hired Kitchener Clean to take care of the cleaning of our offices, kitchen and bathrooms. We are very happy with the attention to detail and their willingness to go to great lengths to make sure we are happy with the service they provide. They care about each new customer and it is obvious in their quick response time in all matters. I would recommend them if you are looking for a reliable, great team!”
- Laurie Fitz-Henry