Market Insight

The power of transparency: How property innovation builds strong tenant relationships

September 4, 2023
In the dynamic landscape that is the UK real estate market, property managers play a crucial role in ensuring smooth operations, fostering productive relationships between landlords and their commercial tenants.

A key ingredient in effective property management is transparency. By embracing transparency and communicating well, property managers cultivate trust and eliminate the ‘us and them’ dynamic.

The result? Invariably, this establishes strong, long-lasting partnerships between landlords, property managers and their tenants.

In this article, Head of Property Asset Management, Carl Grint, explores the importance of transparency in both multi-let and single-let properties, highlighting how one innovative solution can enhance communication and collaboration – Tenant web portals.

Cultivating trust through transparency

Transparency serves as the cornerstone for trust-building between property managers and commercial tenants.

Today, landlords increasingly view their tenants as customers and expect their asset managers to adopt a similar approach.

By openly sharing information and maintaining clear lines of communication, property managers can foster an environment of trust and collaboration. In turn, tenants feel valued, respected and more inclined to engage in a mutually beneficial relationship.

In addition to the transparency and relationships built between property managers and their tenants, there is also a tool which is playing a vital role – the tenant web portal.

By offering this proactive approach, property managers empower tenants to stay informed, make informed decisions, and feel more engaged in the management of their space.

Carl Grint, Head of Property Asset Management, Vail Williams LLP.
Carl Grint

Tenant web portals

An innovative solution that enhances transparency, the tenant web portal is an important online platform which can provide tenants with 24/7 access to important data.

Implementing tenant web portals can deliver several advantages for both property managers and commercial tenants.

It enables them to retrieve information on their leases, financial statements, maintenance schedules, and other pertinent details instantly and at their convenience, reducing the need for frequent enquiries and allowing them to resolve issues independently.

This self-service portal also streamline communication and reduce the administrative burden on property managers, resulting in improved efficiency for both parties, and a more collaborative environment for all involved.

Not only this, web portals also facilitate seamless communication, enabling property managers to efficiently address tenant concerns, provide prompt responses, and keep tenants informed about important updates.

Finally, these portals promote transparency by ensuring that all stakeholders have access to the same information, eliminating misunderstandings and creating a more harmonious working relationship.

Bridging the communication gap

Property managers can face challenges when it comes to providing information requested by tenants in a prompt manner.

Traditional methods of communication, such as email or phone calls, can result in delays or miscommunication.

Tenant web portals, on the other hand, offer a solution to bridge this communication gap by centralising information and making it readily available to tenants.

We’ve seen how successful this can be for our clients and, amid the ever-evolving real estate landscape, it is more important than ever to ensure transparency with commercial tenants, in order to deliver successful property management services.

By embracing transparency and adopting innovative solutions such as tenant web portals, property managers can cultivate trust, build strong relationships, and eliminate the ‘us and them’ dynamic of the past.

In an era where tenants are seen as valued customers, transparency is not just a buzzword—it’s a strategic imperative for property managers to ensure long-term success and tenant satisfaction.

That is why, here at Vail Williams, we have implemented MRI Engage as our chosen portal provider – to empower tenants, streamline communication, and create a collaborative environment where all stakeholders thrive.

To find out more about Vail Williams’ property management services and how we can support you with your commercial property portfolio and tenant management, get in touch.