How can you create a tenant advisory board for ongoing feedback?

1 Benefits of a TAB

A TAB can provide you with several benefits as a real estate developer and manager. First, it can help you understand your tenants' needs, preferences, and expectations better, which can help you tailor your services and amenities to match them. Second, it can help you communicate with your tenants more effectively, which can enhance your reputation and credibility. Third, it can help you solicit feedback and suggestions from your tenants, which can help you improve your property's performance and value. Fourth, it can help you foster a sense of community and collaboration among your tenants, which can increase their satisfaction and retention.

2 How to select TAB members

To create a TAB, you need to select a representative sample of your tenants who are willing and able to participate. You can use different criteria to select TAB members, such as the size, type, and location of their units, the length of their lease, their demographic characteristics, or their involvement in the property's activities. You can also invite tenants who have expressed interest or concerns about the property's management or who have shown leadership or initiative in the tenant community. You should aim for a diverse and balanced TAB that reflects the diversity and interests of your tenant population.

3 How to organize TAB meetings

To make your TAB meetings productive and efficient, you need to plan and organize them well. You should decide on the frequency, duration, and format of the meetings, as well as the agenda, topics, and goals. You should also establish the roles and responsibilities of the TAB members and the landlord or manager, such as who will chair the meetings, who will take notes, who will report back, and who will follow up on the action items. You should communicate the meeting details and expectations to the TAB members in advance and provide them with any relevant information or materials.

5 How to implement TAB feedback

To make your TAB feedback useful and actionable, you need to implement it appropriately. You should prioritize the feedback based on its urgency, importance, and feasibility, and assign the tasks and resources needed to address it. You should also monitor the progress and results of the implementation and evaluate its impact and effectiveness. You should communicate the feedback and the implementation to the TAB members and the rest of the tenants and acknowledge their contributions and achievements. You should also solicit their feedback on the implementation and the TAB process and make any necessary adjustments.