17.06.2022

    Noah Warren: How modern amenities and good old-fashioned values help QE be a landlord of choice

    How modern amenities and good old-fashioned values help QE be a landlord of choice
    By Noah Warren, Head of Existing Assets

    The days of enticing tenants with cheap rent are long gone. I have managed assets for Quintessential Equity (QE) in various capacities for more than 12 years and I have observed how tenants have evolved during this time.

    Maybe three out of 10 clients today will lease a building because it’s cheap, most are looking for a lot more. Tangible benefits are the space and amenities, but the intangibles, like being listened to cannot be underestimated.

    Introducing ourselves to the tenant

    I want to share an interesting observation here. Whenever we buy a building that has a tenant, the first thing we do is to go and introduce ourselves. Our point of difference is our level of service and care and that we go above and beyond for each and every one of our tenants.

    Gone are the days where you can afford to take your tenants for granted and believe if you lose one, you can easily find another one quickly.

    The cost of finding a new tenant and getting them into the building, if you find one at all, is significantly higher, so treating people well is not just the right thing to do… it makes financial sense.

    8 St Georges Terrace, Perth

    Keeping tenants across our plans

    Something that we really pride ourselves in is being communicative, transparent, and proactive.

    We like to sit down with our tenants and do a sort of page turner and articulate the mechanical and aesthetic refurbishment upgrades to their office building. This gives the tenant the opportunity to envision what we are working to bring to life and drives excitement and understanding to counter the disruptions the tenant may experience from time to time whilst the works are being carried out.

    Further, we have regular quarterly face to face catch ups with our tenants, but in the interim, we are constantly checking in on them. We take a rounded communications approach where we discuss the major alterations, but also check-in on the little things and everything in between.

    This helps us resolve issues within their tenancy or the building that could be bothering them.

    Tenants may also think small issues are not worth bringing up, having the opportunity to meet face to face provides the forum to discuss and resolve to ensure they do not fester and snowball to become a bigger issue.

    I’m pretty confident that we can walk into any of our buildings and our asset management team will know the tenants by name. Maybe not all of them, but definitely the key stakeholder within that tenancy.

    431 King William Street, Adelaide

    Maintaining strong relationships

    Each of our asset managers take the time to get to know the tenants and really understand what makes them tick. We know what drives our tenants and often have proactive conversations to determine what they want for their office and building experience.

    We are very proud of our tenant retention rate since inception of the business, and this isn’t by chance. This is through hard-work, attention to detail, going above and beyond for our tenants and maintaining an exceptional standard – always.

    This level of service is tailored around our love the tenant philosophy, which we are constantly striving to incorporate in our day-to-day role.

    If you’d like to find out more about becoming a tenant in one of our properties, contact us today here

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