Applying the Five Love Languages to Commercial Real Estate
Here’s how facility executives and property managers can use the famous five love languages to better their relationships with owners and tenants.
By Stacy Brown, Contributing Writer
When it comes to commercial property management, the famous five love languages usually aren’t associated with the trade. However, the ubiquitous five love languages aren’t just for personal relationships – they can also be tapped for commercial property management and ultimately, the relationships between owners and tenants. Here is how the five love languages can help any commercial real estate executive succeed.
- Acts of Service: To keep the relationship thriving, property managers should be aware that many owners believe actions speak louder than words. This love language can be as simple as property managers providing owners with a variety of service options, such as handling city compliances, screening tenants, and collecting rent. In turn, this allows the property owner to provide their tenants with maintenance support, common area upkeep, capital improvements, and more. Additionally, it will reflect well on the tenant’s business because operating in a well-managed property will create a positive perception of the company as a whole.
- Quality Time: One of the key parts to success is making sure to give your full attention to the relationship between the property manager and the property owner. It is essential to take the time to truly get to know what each party wants out of the relationship. Going that extra mile to communicate openly with each other will lead to a thriving, successful relationship. The same is said about property owners and their relationship with tenants.
- Receiving Gifts: Continued upkeep of a commercial property is a significant part of this love language, as it can increase marketability, and benefit everyone in the relationship. For example, the tenants can participate in this love language by paying their rent on time - a true gift to a property owner. In turn, the property owner will then be able to continue to provide for them. All in all, this leads to a happy property manager.
- Physical Work: This love language is quite simple, as you can show your appreciation through non-verbal acts of service. It can include property maintenance and repairs. When choosing who should be hired to do maintenance and repairs, you want to make sure it is someone you can trust. Taking the extra time to vet licensed vendors who can guarantee their work will be done efficiently and correctly, will make all the difference in the tenant–owner relationship.
- Words of Affirmation: This love language is the most important of them all in commercial property management. The number one reason property owners and tenants leave is due to a lack of communication. There must be constant, ongoing communication between all parties in the relationship to show each other your goals align. They all have the right to 24-hour access to know what’s going on within the property. The level of communication available is a direct reflection of the property owners and managers and should be at the top of their priority list. If someone feels they are not receiving the proper level of communication, they know it is time to leave and work with a professional management company that can offer that higher level of communication.
Stacy Brown is the Director of Technical Training for Real Property Management, a Neighborly company. Brown holds membership in the Institute of Real Estate Management (IREM), Community Associations Institute (CAI) and the National Association of Residential Property Managers (NARPM).
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