Maximising occupier value from business improvement districts

This paper is a review of Business Improvement Districts (BIDs) from the perspective of property occupiers. The issues that property occupiers should consider when analysing the potential benefits that a BID could deliver are identified and reasoned. The differing approaches to BIDs in the UK and North America are contrasted, and occupiers are alerted to the need to think differently in these locations — especially in respect of ‘voting power’. The ‘property cost paradox’ is also explored. This leads on to the relative merits of involving property owners — in addition to occupiers — in the strategy and funding of a BID in the UK