Let's face it, tenants and landlords don't always see eye to eye. Many times it can be adverserial, but why? Both sides should have the same mission: foster environments for successful businesses to thrive. Effective communication and collaboration between landlords and tenants is crucial for this process.
Here are some tips to help ensure smooth communication and create an environment to help one another:
Clearly define expectations: Clearly communicate the terms and expectations for the lease process to both landlords and tenants. This can include the timing of rent payments, communication channels, and the responsibilities of each party. This will also be addressed in the lease verbiage, but ensure everyone knows their duties.
Foster open communication: Encourage open and regular communication between landlords and tenants to help resolve any issues that may arise during the lease process. Establishing regular check-ins can help maintain a positive working relationship. Keep a regular schedule to check in and show concern.
Stay organized: Keep track of all communication and documents related to the lease process in a centralized and organized manner. This can help ensure that both parties have access to the information they need, when they need it.
Be proactive: Address any potential issues before they become major problems. For example, if a tenant is behind on rent, work with them to come up with a solution before the issue becomes a bigger problem. Don't let capital improvements get to the point of driving away business.
Be responsive: Respond to inquiries and requests from landlords and tenants in a timely manner. This shows that you are committed to the lease process and helps build trust between the parties. No one enjoys being ignored.
Seek mediation if needed: No, not medication! If disagreements arise during the lease process, consider seeking mediation to help resolve the issue. A neutral third party can help both parties find a mutually acceptable solution. This is a helpful solution when trying to determine fair market rents in an option, for example.
Not all negotiations and relationships need to be contentious. By following these tips, landlords and tenants can work together effectively to ensure a successful lease process. Remember, the goal is to have successful businesses thrive in commercial buildings.