Not long ago, I got a call from one of my commercial property owners who owns multiple shopping centers in the Chicagoland area. He had a crucial
decision to make:
Renew the lease (NNN Lease) with a major tenant
Sell the property if the tenant wasn’t renewing
As we explored various options—including selling the roof rights as a way to maximize returns—however, what stood out to me was the shift in my client’s perspective on these tenants over time.
Why was this significant?
Because just a few years ago, this same owner was caught in a severe legal battle with these tenants. The relationship had deteriorated to the point where simple communication was a challenge. Frustrated and exhausted, he brought me in to take over the management of the property.
The first thing I did? Rebuild trust.
I met with both the owner and the tenants, setting a clear tone:
I was there to run a fair, structured operation where both sides could focus on what mattered—tenants on their business, and the owner on collecting rent without stress.
I set clear expectations, established month-to-month accountability, and maintained open, professional communication.
Initially, the tenants' responses to my outreach were dry, cold, and delayed. It was clear they were still holding onto past frustrations. But I stayed consistent, ensuring communication remained open and professional.
Then, about a year and a half ago, I noticed something shift. The tenants started reaching out to me candidly, proactively—even offering insights or help. The once-tense relationship had transformed into a cooperative one.
Over time, tensions eased. There were still challenges, but the foundation of respect and consistency paid off.
Fast forward to today, and that same owner—who once considered these tenants a legal nightmare—now prefers to renew their lease.
For me, this moment was a huge compliment. It reaffirmed that effective property management isn’t just about handling maintenance and collecting rent—it’s about creating stability, solving conflicts, and adding long-term value to real estate assets.
Are you dealing with similar management challenges? Let’s connect & discuss!
Comments