Boston Properties [NYSE: BXP]

Shari Barnes

Shari Barnes is a highly experienced Certified Property Manager with over 15 years of expertise in managing commercial properties. Currently overseeing 500,000 square feet of office space at Boston Properties, Barnes excels in property operations, lease administration, budget management and tenant relations. Known for consistently reducing expenses and generating revenue, Barnes has a strong track record of developing and maintaining solid tenant relationships.

Through this article, Barnes emphasizes the importance of building strong relationships with tenants in property management and highlights the role of effective communication, problem-solving, and empathy in addressing tenant needs and ensuring their satisfaction.

When I first began my career in property management at the age of 19 years old, I had no idea that it would change my life and spearhead my career. I began with a real estate management firm in the downtown Washington, D.C., area as a service request dispatcher. I was the first line of defense between the tenants and owners. This first position within property management helped me develop relationships with tenants, maintenance and environmental staff. You learned about the tenants and the companies they worked for, as well as developing close relationships with the building staff who worked there to ensure tenants lease obligations were met. I stayed in the role for just about 7 years, and it laid the foundation for my understanding within the commercial real estate field.

Every transaction begins with a client and the client has the decision to decide the square footage amount, location, leasing negotiations, amongst many other important factors concerning the success of their business. I think we all know within this field that some calls can become nuisance calls but that is when you can really impact the relationship between you and the tenant. Problems will arise because in this field no two days mimic one another. The tenant wants to see engagement, care and the ability to solve problems quickly as they arise.

When you can exhibit the above, this leads to tenant retention. Every property management company knows that satisfied tenants are more likely to renew their lease, which means reduced vacancy rates and turnover costs (broker fees, restaging, marketing, etc.). In this area there is a close-knit community and people talk. From the property management team to the cleaning staff for the building, each entity plays a direct role in keeping tenants satisfied and honoring and upholding lease obligations.

Over my past 15 years within this field and working with all different kinds of tenants (private (law firms, nonprofits, tech, etc.) and public sector), it has taught me the importance of first listening to a tenant's needs, which can sometimes be unrealistic; make sure it aligns with lease obligations; and sometimes, if it does not, you approach management by trying to come up with a solution. Taking this approach has led to several issues that could have been deemed a dead situation. This is not a guarantee that every situation will end in the tenant’s favor; sometimes you must have those uncomfortable conversations that will not please the customer. In my current position, I began having dialogue with the tenant and it was apparent that the historical relationship was one of tension and distrust, which automatically affected our relationship. I can say three years later the relationship has significantly improved due to overcommunication and allowing the relationship time to establish trust and results.

When tenants witness this personal interaction and go above and beyond to make sure their needs are heard and sometimes met, it creates a trustworthy relationship. Without tenants, there would be no industry to excel in. As I used to tell our building staff, our tenants are the bread and butter for the company. In learning this over the past 15 years, it created one of my superpowers: being able to work well in any uncomfortable situation.