A building is not just a stand-alone structure, it is also part of a wider community of other buildings and businesses. Often residential, retail, corporate and even commercial businesses share the same space, and it is important for every building owner to understand the configuration and composition of the local businesses in your area.

For most people, a building is not just where they work or live, but also represents a part of their life and identity. Most tenants want to feel a part of a community and will spend parts of their day eating in local restaurants, buying from local stores and working out in local gyms, among various other activities. Creating this atmosphere starts with communication, which is made easier and more effective with MYBOS software. With an inbuilt business directory, creating a strong  community lifestyle has never been easier.

Starting with simply surveying the local area and deciding on businesses to feature in the directory, you can include businesses best suited to your tenants. Oftentimes, these businesses will be open to organising promotions specific to your tenants, again strengthening the relationship your tenants have with the building.  These little bonuses add value to your building for tenants and can translate into increased revenue for you when they decide to increase their tenancies for longer.

It’s also important to note that the business landscape of your area is not stagnant. It is constantly changing. That means you need to keep your pulse on the new local businesses popping up in your area. You might even work with them to introduce opening offers and discounts exclusive to your tenants. Not only will this help their business to grow, but it will help your tenants receive extra value from their tenancy, and will foster good community relationships.

Understanding the local business layout in your area doesn’t need to be difficult. To start a free MYBOS trial, contact us today.

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