Consider the reasons why UK commercial tenants continue to show relatively low levels of satisfaction with their landlords and the property management service they receive. How might landlords’ real estate managers help to improve this score?
- 1990 crash – there was a downturn in the early 90s, therefore there was oversupply of properties because there is no demand from businesses for properties – and so there was pressure for change from government, but also the occupiers were in a stronger position to be able to negotiate and have more say in the relationship.
- 1995 start if industry/ government initiatives – both from the property federation and other industry bodies, but also the government trying to influence landlords to treat their tenants better.
- 2007-2009 global financial crisis
- Rise of disruptive businesses, such as wework – meant that landlord had to be much more reactive to their tenants needs and be much more flexible in their leases and offer such as offering shorter leases, the ability to rent space more flexibly.