Are your tenants satisfied? This is one of the big questions commercial real estate landlords must ask themselves when planning for the future. In an effort to ensure overall happiness, one of the big initiatives for commercial developers in today’s world is to activate their site by hosting exclusive tenant events.
Doing so can result in a number of positive outcomes. Firstly, hosting events for tenants communicates the message that their occupancy is more than just a rent check. It improves overall morale, and a calendar of upcoming events give tenants something to look forward to. Additionally, it fosters a sense of community and provides tenants the opportunity to meet other people that they normally wouldn’t be exposed to.
Annual summer barbecues, morning coffee carts, and holiday events are standard. They are generally the same across each commercial property, and often lack the type of creativity that excites tenants. The aforementioned events still carry value in the sense that they are routine, added value amenities and events that tenants have come to expect. Of course, everyone enjoys a free meal and a tasty beverage, but is that really what is going to peak interest and keep tenants coming back for more?
Budgetary restrictions are a reasonable concern, but rather than having a few large events throughout the year, progressive commercial real estate landlords are opting to hold 2 or 3 per month.
These events should be more specific and tailored to the demographics of the tenants that occupy the property. This requires extensive knowledge of the likes, loves, and passions of tenants – something every landlord should be in tune with. By expanding the range of events, commercial real estate properties can differentiate from competing office spaces.
Not all of these events have to come with a hefty price tag. We’ve compiled a list of ideas that may spark your imagination for your next commercial real estate tenant event.
Partner with your local Humane Society or dog rescue; events such as this come at little to no cost to commercial real estate landlords. It gives tenants a reason to get outside and enjoy nature, all the while finding a potential home for an animal in need. Who doesn’t love watching some furry friends frolic around with wagging tails? Petting and playing with dogs has been shown to be therapeutic, providing a much-needed break from work and relief of day-to-day stress.
Even if no dogs are adopted, these types of events generate awareness for positive impact organizations, and it’s almost a guarantee that tenants will pull out their phones to snap a photo or video and share their “work” with people in their social network. We call this a win-win-win!
National _______ Day
The 365 days in a year offer 365 opportunities to fill in the blank! Nowadays, there is a day dedicated to everything, many of which are for a great cause. Some of the most popular include “Pi Day” (March 14th), “Earth Day” (April 22nd), and “Bike to Work Day” (May 16th), to name a few.
The possibilities for creativity here are endless. Prizes, giveaways, raffles, auctions, you name it! This is a great way to engage your local business community in fun activities for purpose-driven events everyone can support. If all else fails, “National Margarita Day” is February 22nd. Be sure to pencil that in for 2018!
Nothing brings people together quite like philanthropic initiatives. This is an excellent opportunity to really listen to what matters to your tenants. Solicit their suggestions for charity events that can be run on-site. Your tenants will respect the fact that you take their passions into consideration, commit to hosting an event on the property, and deliver on promises to help them accomplish their goals.
As an added benefit, invite a news outlet or reporter to cover the event. This portrays the landlord in a positive light and improves the property’s reputation.
If your property has the available space, investigate the possibility of hosting a farmer’s market. This is a great way to engage tenants and their families in an activity fit for all ages. Additionally, hosting such an event supports local businesses, again, improving the property’s reputation.
And after all, everyone loves free samples! To step it up a notch, look into inviting a local musician(s), face painter, etc., to really get the party bumping.
Health Driven Events
Overall satisfaction and well-being is directly correlated to health. This is nothing new. Give your tenants an excuse to get out, get educated, and get sweaty by bringing in a fitness instructor or nutrition expert.
An excellent example of this is holding a joint event during February (National Heart Month) with the American Heart Association (AMA). The AMA has been known to hold health driven events such as group yoga classes, during which all proceeds are donated to the AMA.
The Bottom Line
There is absolutely no reason to feel limited in your options when deciding on tenant events throughout the year. If your property is active on social media, these events should be publicized to promote engagement and sharing through individual networks.
There are hundreds of ideas that can be carried out on commercial real estate properties that benefit the landlord, the tenants, and society as a whole.