Real Estate Revolution: Where Simplicity Becomes Substantial - Tenants
Proximity Park - Charlotte, NC
Following our discussion about sellers, we now shift our focus to another crucial player within the Tempus process - the tenants. Tempus adopts a distinctive strategy when it comes to its relationships with tenants. Much as with the Tempus approach to sellers discussed in the previous post, Tempus views tenants as partners, fostering a more collaborative and mutually beneficial landlord-tenant relationship than typically seen.
Tenants are normally at a contractual disadvantage when circumstances dictate the need for change. Often when these situations arise, landlords will simply shrug and point to the lease offering with little to nothing in the way of accommodation. More progressive landlords will engage with the tenant to seek a mutually beneficial solution. In these situations, landlords will look for solutions that address tenant concerns while also improving the financial yield on their property. Implicit in this response is that the tenants value is limited to the return they provide to the property they occupy. The Tempus view shows them as an important part of the overall ecosystem which opens a much broader opportunity to engage with them to create value.
How Tempus Delivers Value to Tenants
Beyond competitive pricing, Tempus ensures fair, transparent and responsive treatment, recognizing factors like timing, transaction risk, flexibility and reputation. Tempus goes the extra mile to provide tenants with an unparalleled experience, setting a new standard in landlord-tenant relationships. Proactively addressing their concerns not only lowers the cost hurdle for the tenant, but it also allows the Tempus team to focus as much time and effort is necessary to achieve the tenants’ goals. This results in a noticeably better experience for tenants than what they would typically expect.
How Tenants Benefit Tempus
When tenants have a positive experience with Tempus, they repay the favor with value far exceeding their monthly rent payment. Tenants who feel well cared for are more likely to stay, cutting the overall cost of owning the property that they occupy. These residents frequently refer Tempus to other prospective tenants, encouraging others to Tempus-managed buildings, creating value beyond just the property they occupy.
In one particular type of transaction called sale-leaseback, the seller of the property is the tenant after the sale. For these seller-tenants, the reputation of Tempus as a landlord with exceedingly high tenant satisfaction is a major consideration. In each of these, the tenants deliver real value to the Tempus community, adding to the value mentioned in our previous post.
Next week, we will continue this blog series with brokers. The Tempus difference with brokers is unique and makes up a huge part of what we do, so be sure to plug in next week.
Dan Andrews
CEO and Managing Partner