Sure, Blame It On the Economy

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Sure, Blame It on the Economy

By: Nicholas A. Dunlap

As with many operational decisions, whether you offer a concession or opt for the vacant space depends on the owner’s goals.  So if there is one thing you take from this column, remember the next two sentences.  While occupancy continues to trend upward and the economy continues to improve, take the time to develop relationships  with your tenants that will carry you through the more difficult times.  If you direct an on-site staff, encourage them to develop the level of professional comfort with tenants that will enable them to carry on conversation and possibly see the warning signs of potential vacancy before it becomes imminent.  And there’s never a wrong time to focus on improving tenant relations.  Just to think, the occupancy you save might be your own.

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