More Than 80% of Office Landlords Witness Uptick in Lease Renewals as Enhanced Tenant Experience Becomes the Norm, According to the 2024 VTS Global Landlord Report
The report is a result of a survey commissioned by VTS from an independent market research firm surveying today’s landlords from across the globe on their priorities and challenges in 2024.
- The report is a result of a survey commissioned by VTS from an independent market research firm surveying today’s landlords from across the globe on their priorities and challenges in 2024.
- The report shows that landlords are prioritizing the improvement of tenant experiences to drive retention of current tenants as opposed to leasing vacant space in 2024.
- According to the latest VTS Office Demand Index (VODI) , national demand for office space marked its sixth consecutive month of annual growth, and VTS’ 2024 Global Workplace Report showed that 62% of companies are executing a hybrid work strategy, which both indicate a slow but steady recovery for the office market.
- However, the market remains fragile, and landlords have therefore shifted their focus to tenant retention and lease renewals, with technology being a top asset, followed by outdoor communal areas, and property operations.