When a tenant leaves, it always causes a bit of instability in your cash flow. Even if you have a new tenant lined up for your office building or commercial space, there’s still a long to-do list before business can continue as usual. If you have a management company, they also charge fees for tenant turnover and in-between maintenance. Make the process smoother by preparing for these three problems:
1. Renovations may take a bit of time.
It’s pretty rare to have a tenant move in the day after the previous tenant leaves. Depending on the industry and the space, new tenants may want to refinish the interior within the bounds of the lease. You might also have some maintenance to take care that has been building up for a while. While you can line up the inspectors, electricians, and repair technicians with tight appointments, there’s still going to be a bit of a gap. Expect tenant changes to be both a direct expense and a loss of revenue.
2. Tenants won’t take everything with them.
Even good tenants may leave behind old supplies, discarded office furniture, and trash. While you may have some responsibility for holding onto documents for a certain number of days so the tenant can come back for them, usually left-behind items are rubbish that’s now your problem. Have an office removal to load away everything but the bare office space. This gives you a clean slate for repairs and new tenants without delays.
3. Tenants may have mis-scheduled their own moving service.
Mistakes happen, and your soon-to-be-former tenants might have accidentally extended their stay beyond the lease term, at least as far as their furniture is concerned. Sometimes you can afford to let the mistake slide and just work around their boxes and compacted furniture. Sometimes you have to start your maintenance to-do list immediately because the next tenant is ready to move in.
While Kiwimove can’t help with all of your tasks in-between tenants, we can help make sure the office is cleared out in time and everything gets to where it needs to go. Schedule an appointment or check out our services here.