Office Building Amenities That Attract Tenants
Today’s office building tenants are looking for more than space for desks and chairs. They need amenities that will help them attract and keep talented workers to grow their business. That means landlords and property owners need to know what amenities will make their buildings attractive to potential occupants.
Just a few short years ago, offices reserved a small percentage of space for amenities—three percent or less. Nowadays, however, 10 to 15 percent is dedicated to amenities. This represents an investment for property owners, but the payoff may be a property that attracts tenants who want to stick around.
Keep in mind that millennials are expected to make up 50 percent of the workforce by 2020 and 75 percent by 2030. They especially want to enjoy their time in the office. So employers look for buildings that offer the amenities this large segment of the workforce craves. Read on for a list of some the most desirable features.
Collaborative Work Space
Who wants to sit at a desk all day? Not today’s office worker. Millennials and others want space where they can relax and meet with colleagues to problem-solve or catch up. Therefore, in addition to quiet spaces that are necessary for concentration or confidential work, tenants look for open floor plans where they can incorporate a lounge with room for a game table, space to grab a bite, and casual seating.
Speaking of grab a bite—today’s office must have a kitchen area that is equipped with basic appliances such as a refrigerator, microwave oven and coffeemaker. Many employees bring lunch to work in order to save money and eat healthier. Business owners recognize that making mealtime and snacks convenient increases worker productivity.
When it comes to technology, businesses understand that they either have to go big or their staff will go home. And that’s barely an exaggeration. Employees simply must have reliable Wifi to use their laptops and mobile devices. There also needs to be plenty of electrical outlets for desktop computers and office equipment, as well as for recharging devices.
The Great Outdoors
Wifi makes working just about anywhere possible and that includes outdoors. Office buildings that are equipped with a comfortable outdoor space that includes chairs, tables and Wifi are bound to be attractive to possible tenants. The hottest new trend is a rooftop deck. But whether on the roof or a patio, workspace that also offers fresh air and sunshine can be very enticing to tenants.
A Bright Idea
Even when working inside, employees benefit from exposure to natural light. Research shows that lighting affects mood and behavior and, therefore, productivity and alertness. A dose of daylight can also lead to happier employees that are less stressed and out sick less often. Furthermore, daylight is free! Any tenant will be glad to reduce energy use, so windows and glass walls in a building are a plus.
Millennials have grown up with an awareness of and often a commitment to green living. Now, they expect the offices they work in to reflect that. But green offices aren’t only a way to make millennials feel comfortable. They also present businesses with a number of benefits including lower energy costs, increased worker productivity and reduced absenteeism.
These are just a few of the office building amenities that can attract tenants to rent space in your property. Yes, these all require an upfront investment, but the payoff could be happy employees for tenants that will want long-term leases.
The information contained in this article is general in nature and should not be construed as financial, tax or legal advice. As with any financial or legal matter, consult your tax advisor and legal counsel.