Whether you manage a commercial office park, retail center or apartment building, making tenants happy is always job No. 1.
Not only do you want to attract tenants to fill your spaces, but you want to retain those tenants for the long-term.
There are many ways quality landscaping can help you do this. In fact, there is a direct correlation between nice landscaping and high building occupancy rates.
People love to brag about where they work, especially if it is associated with a beautiful landscape. As a result, it is more economically feasible to invest money in landscaping because the return in the number of tenants and amount of rent money far exceeds the cost of installing ornamental plants.
Here are the top five ways to get tenants to renew their lease with commercial landscaping.
Landscaping Increases Property Values
A well-maintained landscape increases property values and makes properties more desirable. While improvements can add significant value to a property, some of these enhancements don’t always provide 100 percent return on money invested … with the exception of landscaping.
Landscaping yields on average a 109 percent return on every dollar spent. Tenants like to know the property they rent is consistently improving in perceived and actual value. By maintaining quality landscaping and making regular landscape improvements when necessary, you are driving property value.
Tenants pay good money for rent and they want the property to reflect the money they are putting into it.
Landscaping Reduces Energy Bills
Since commercial buildings consume a significant amount of energy (40 percent of the nation’s total U.S. energy consumption), particularly for heating and cooling (32 percent), it is important for you to reduce energy consumption and the cost of heating and cooling. Correctly planted trees can positively impact energy bills.
Deciduous trees that shade east-facing walls and windows in the morning and west-facing surfaces in the afternoon during the months of June, July and August will make a building more comfortable and decrease air conditioning costs. In the winter, trees planted to the southeast or southwest of a building help avoid winter shading and save property owners on heating bills.
No tenant minds landscaping that helps save them money immediately on their monthly expenses.
Beautification Draws People In
Trees and plants create a positive aesthetic environment that naturally attracts and welcomes visitors. Stores with landscaped areas make shoppers feel more at ease. This translates to longer shopping periods among customers, boosted sales and enables stores to charge higher prices because of the increased perception of quality landscaping brings.
Adding ornamental plants can even revitalize a stale business, bringing in more clients and improving its overall environment. Plants reduce stress levels, making shoppers and tenants feel more at ease, which increases time spent in the space.
Today, amenity areas are very popular with tenants. Providing outdoor spaces, including patios, gardens and walking trails, for meditation, relaxation, lunch escapes or walking are very popular and can be very impactful to retaining tenants.
Everyone loves color. Plants that change hues with the seasons are a huge hit with tenants. Bold borders and vibrant varieties are most influential when located in key focal areas. Not to be outdone, beautiful, well-cared-for expanses of turf also make tenants happy, showing a property is well-maintained.
Landscaping Is A Cost-Effective Method For Improving Property Perception
Simply landscaping a formerly bland area can transform a community into a safe and friendly environment. The cost of landscaping pales in comparison to the cost of security services. By simply adding plants and trees you revamp a community’s perception of your property.
Gorgeous landscaping also reduces crime because when people perceive a place as beautiful and neighborhood-friendly, they treat it that way. We can use landscape lighting, proper maintenance and pruning, as well as well-planned landscaping to enhance safety on your property. Tenants will always want to remain in a place that feels safe and secure.
Landscaping Boosts A Building’s Green Status
A majority 66 percent of tenants responding to a Building Owners and Managers Association tenant survey indicated that environmentally sustainable building operations are important to them. There are many green additions you can make to your property to boost its LEED (Leadership In Energy & Environmental Design) status and make tenants feel proud, including irrigation improvements, using more native plants and adding green walls or roofs.
The bonus with many sustainability initiatives is they save costs as well. For instance, smarter irrigation practices save water and watering costs. Green roofs moderate a building’s temperature and lowers energy costs—all while adding to the aesthetic appeal of a building and improving tenant perception of the space.
Show Your Investment In Constant Improvement
No matter how nice a building is, if the landscape is run down and in need of improvement, it distracts from the property. Tenants are much more likely to live and work in an area that is nicely landscaped versus one that is sparse. Making regular improvements makes your property more competitive and attractive. HighGrove Partners’ team can help you attract and retain tenants. Give us a call at 678-298-0550 or use our simple contact form.
In the meantime, be sure to check out our 2015 Commercial Property Trends Report below for more tips and trends to help your commercial property stay in demand and become more attractive, more valuable and more sustainable this year and for years to follow.
Last modified: June 3, 2021