MacRo LTD Blog

Tenant Screening 101

Tips for commercial building owners and landlords.

Tenant_Screening_101_091715From Nosferatu and Bram Stoker’s novel Dracula to the romanticized, GQ model blood suckers of the Twilight series, Vampire lore is embedded in societies across the globe. Certainly, vampires come in many different shapes and forms, but there are a few vampiric qualities that are consistent across cultures.

One of which is this: Never, EVER, invite a vampire into your home. If you let them in, they’ll suck you dry. If you don’t, they can’t. That simple.

A derelict tenant is the vampire of the commercial property world, draining time, resources and revenue from commercial building owners and landlords. There is no method that guarantees you’ll find the perfect commercial tenant. In fact there are no perfect commercial property tenants.

But there are ways to systematically increase your chances of finding solid, reliable tenants, while weeding out the vampire-tenants–from-hell of the commercial real estate world.

An important first step is to get professional commercial real estate help. While you could make use of a property management firm or a tenant screening service, the best and often used approach is to make use of a commercial real estate broker to build or refine the tenant screening and selection process. Remember, including screening in the tenant selection process will pay huge dividends over the long haul.

Putting garlic and sunlight aside—here are five steps that your commercial real estate broker should include in their approach to separating the good tenants from the bad (hint: if the prospect will only meet you after the sun goes down it is likely not a great sign).

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