Goodwill, happier tenants, and increased ROI will follow
When you invest in a commercial property, your responsibilities—and opportunities—go well beyond the four walls of your building or the boundaries of your grounds. You are now part of the community and it behooves you to embrace that responsibility and become involved. Fortunately, this can also provide a welcome boost to your reputation and your ROI.
Everything from property values to tenant relations stand to benefit from community engagement. Here are just a few of the ways you can get involved.
Incorporate charitable acts into your business
There are many ways to contribute to your community other than money, and there are many ways to connect with these opportunities. Here are just a few examples:
- Real Estate for Rehabilitation. As your first tenants move into your new property, hit the ground running by encouraging them to participate in this program. It connects them to the local Salvation Army, who will pick up their unwanted stuff and sell it in their stores. This fosters immediate goodwill for you, your tenants, and this legacy charitable organization.
- Give Back Homes. Put some hands-on work into the community with this group of fellow real estate professionals who build homes for those in need—in your town and around the world.
- Knock on some doors. Encourage tenants and neighbors to donate to the local food bank by providing bags and offering to deliver them. It’s a great way to get some face time with community members and serve a greater good.
Join local networking organizations
Networking is key to establishing and maintaining positive relationships with your neighbors and the town at large. Join the local Chamber of Commerce and attend events hosted by local service organizations, such as the Rotary, Lions, or Kiwanis clubs. They have their finger on the pulse of the community and can direct you to other opportunities to get involved. Local chapters of the Ronald McDonald House, the Boys & Girls Club, and various other groups are also great resources.
Support your local schools
Parents hold the key to a community’s good will. They are perhaps the most invested and the most vocal about their experiences, good and bad. What better way to engage this constituency than by helping your local PTA or PTO with fundraising, volunteering, or marketing, services which are nearly always in demand. Promote their events in your building and encourage your tenants to step up as well.
Get your tenants involved
Speaking of tenants, they are your most powerful tool and the most direct expression of your community involvement. Engage them in these efforts and you’ll have a better relationship with them and have a greater impact on your town. Organize neighborhood “shine” days where you collect trash or plant flowers along your street, as one example. Come the holidays, boost your efforts to collect food for the local pantry, and make your corner of town the pride and joy of the community with decorations and giveaways.
Give back, get back
These are just some examples of ways to become involved in your community. Commercial real estate investors in South Florida and beyond have innumerable outlets for finding causes and organizations that enable them to give back to the community. And the practical impact—beyond doing what’s right— is that all of them have great potential to bring positive attention to you and your property:
- If you have empty units, people will be more likely to fill them.
- Need something from the local zoning board? They will be more inclined to quickly provide it.
- You’ll build valuable connections with local contractors, tradesmen, and other useful service providers.
In short, community investment is not only a moral imperative and a great way to improve where you live or work—it has real ROI. We call that a win-win … win!
Morris Southeast Group is a champion of community engagement. For a free consultation on our commercial real estate investment or property management services, call us at 954.474.1776. You can also reach Ken Morris directly at 954.240.4400 or via email at kenmorris@morrissegroup.com.
Tags: charitable acts, commercial property, CRE Community, get back, Give back, happier tenants, increased ROI, Invest in Your Community, local networking organizations, Support local schools, tenants
