National + Office | March 2, 2023

Office Landlords Face Knowledge and Technology Gap in Retaining Tenants

As new office demand continues to falter, 87% of landlords globally say retaining and renewing current tenants is more of a focus in 2023 than acquiring new tenants. However, a survey conducted for VTS also found that 62% of landlords don’t have the tools that help them understand how tenants use their space and amenities and 59% aren’t certain they have insight into upcoming renewals or tenants that are at risk of leaving.

This means that strengthening existing tenant relationships and investing in the technology needed to draw employees to their workplaces will be key to success, as just over half of landlords surveyed still struggle with daily occupancy rates under 30%.

“These days, it takes more than just negotiating lease terms to remain competitive,” said Nick Romito, CEO of VTS. “Employees are demanding activated and connected buildings that make them want to come to work, and companies are seeking flexible space options that enable them to scale up or down as needed and provide their workers with flexibility in where they work.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).