The success of a business can be attributed to many factors, but one that can significantly influence a company is the landlord of a commercial property. A good landlord can go a long way in supporting their tenant businesses, while a bad landlord can create financial and logistical nightmares for their tenants and hamper their growth. In today's Aegis blog post, we discuss the impact landlords can have on a company and why it's important to choose wisely when picking a commercial site for lease.
Quality of Property Maintenance
One of the primary ways a landlord can impact a tenant business, either positively or negatively, is through their commitment to having quality property maintenance throughout the year. Good landlords will ensure that all landscaping and trees are well manicured and safe to boost curb appeal, and many will often add seasonal décor to attract additional customers.
In addition, landlords can also ensure the safety of their tenant businesses and customers through having good security across the property, either with external video cameras across the property perimeter, or with security personnel patrolling the property. Also, offering good lighting at night, working and visible signage, and well-maintained parking lots and sidewalks can also help improve property maintenance and can result in happy tenants with safer businesses.
Promoting Tenant Growth
Another factor to consider when evaluating commercial sites for lease and their landlords is to look at how they invest back into their property by supporting their tenants. For example, some commercial property landlords and management companies host events such as tree lighting ceremonies at Christmas, pictures with the Easter Bunny, or exotic car show events in parking lots. Hosting and promoting these events can draw large crowds of visitors and potential customers to the commercial site and can help tenant businesses grow and thrive. When tenants are given good promotion by their commercial landlords, they are more likely to remain happy, long-term tenants.
Require Specific Insurance Coverages
Commercial property landlords will often require tenants to have specifics kinds of business insurance policies before they will agree to lease their property. For example, a commercial landlord might require a restaurant tenant to carry General Liability and Commercial Property Insurance, which can provide financial benefits if a restaurant's customer is injured on site or their property is stolen or damaged. When landlords require specific types of commercial coverage, it can protect both the landlord from liability claims, and also protect neighboring tenants in the event of a fire or major disaster that impacts multiple tenants. All businesses can have financial peace of mind when they know everyone has the financial protection that comes with commercial insurance coverage.
Landlords aren't something usually considered when entrepreneurs are making their business dreams a reality, but it's important to consider the impact and influence they can have on a new business so the company has the greatest chance possible for success. At Aegis Insurance & Financial Services, we're committed to helping companies of all sizes and industries reach their goals by offering a wide variety of top-quality Commercial Insurance policies, tailored to specific industry needs at competitive pricing. Contact Aegis today at 713-850-7622 for more information, or complete our online form to request a free quote!