How to Get the Most Out of Your Common Areas

Whether you’re a property manager or just managing a few rental properties, maximizing the potential of your building’s common areas is crucial. Common spaces are not only for tenants and visitors to enjoy but can also help attract prospective tenants and make your space more inviting.

With a little extra effort and help from iSpace Office Interiors, you can turn your common space into a place that everyone will love to spend time in. In this article, we’ll dive into everything you need to know to maximize the potential of your common areas and make them more inviting for tenants and visitors alike.

Usable Area

The usable area is the square footage leased by a tenant. This area often includes facilities such as restrooms, closets, break rooms, and individual offices. The tenant shoulders the fee for their rented usable area.

Common Area

Common areas of the building are outside a tenant’s leased space but are available for their use. These areas include common public restrooms, lobbies, walkways, parking lots, laundry rooms, and landscaping. Some common areas of multi-story buildings include elevators, electrical rooms, and public corridors.

CAM charges are usually distributed among all the building’s occupants and serve as a way “to require tenants to help cover the landlord’s direct expenses for ‘common areas.’ The CAM fee covers any upkeep of these common areas, including maintenance, repairs, and operating costs.

Attract New Tenants

Ensuring that your property’s common areas are clean and well-maintained creates an appealing environment for prospective tenants. A good example would be keeping lawns and landscaping manicured and walkways debris-free. Keeping common areas up-to-date with modern fixtures and furnishings is also a good idea to have potential renters drawn to your space.

Keep Current Tenants Happy

Keeping the common areas in good condition is also crucial for current tenants. These spaces are often used for relaxing or entertaining guests, and if they appear run-down or dirty, they could reflect poorly on the property. Tenants appreciate a clean and well-maintained area whether it be a bathroom or a lobby.

Reduce Operating Costs

Finally, maintaining the common areas of a property can help reduce operating costs significantly. Regular inspections of these spaces for potential repairs can prevent further damage that could cost more to fix in the future. Regular maintenance also ensures that fixtures like lighting and air conditioning are running efficiently, reducing energy costs.

1. Create a Welcoming Atmosphere

When tenants walk into the common area, it should be inviting and make them feel at home. Consider what decorations or features can help create this atmosphere, such as artwork, plants, comfortable seating, and lighting.

2. Provide Amenities for Residents

Provide amenities that can benefit residents in their daily lives. Adding amenities could include a laundry room for shared use, a lounge area with television or games, and Wi-Fi access. You can also provide outdoor recreational areas such as a pool or playground if there is space for it.

3. Keep It Clean and Well-Maintained

Ensure to keep the common area free from clutter, dust, dirt, and other debris. Regular cleaning will ensure that the space remains safe and comfortable for tenants. Also, check regularly for necessary repairs such as painting or plumbing issues.

4. Establish a Rental Fee

A rental fee is a great way to cover maintenance and upkeep costs for the common area. You can decide on how much to charge based on the area’s size and consider any additional features such as Wi-Fi access or a pool.

5. Partner with Local Artists

Many of today’s common areas feature artwork and sculptures that match the aesthetic and ambiance of the surrounding area. Consider partnering with local artists to provide artwork that fits in with your property’s theme and vibes.

6. Develop A Clear Lease Term

Outline what is expected from those using the common area regarding behavior and maintenance. Ensure that tenants understand that they are responsible for maintaining the area’s cleanliness and any damage caused by them or their guests.

7. Designate Appropriate Use Areas

Whether it’s an outdoor courtyard or a shared lobby, designate different areas for tenants to utilize. For example, some areas could be used as outdoor seating or play areas while other areas are designated for quiet reading or studying. Area designation will allow tenants to enjoy the space without feeling overcrowded.

8. Utilize Commercial Space

If your building has commercial space in the common area, consider renting it out to local businesses. Not only will renting it out help you generate additional income, but it may also attract more people to visit your property due to the presence of nearby businesses.

9. Invest In Quality Furniture

Investing in high-quality lobby furniture and fixtures will make your common area look more inviting and comfortable. Consider purchasing aesthetically pleasing furniture and durable enough to withstand wear and tear.

10. Utilize Technology

Incorporate technology into your common areas where possible, such as adding Wi-Fi access or installing digital signage. Additional tech appliances can enhance the user experience and attract more people to visit the place.