BOMA Tenant Relations & Customer Service Flashcards

What is the role of a 'property manager' versus an 'asset manager' in commercial real estate?

Answer: Property managers handle day-to-day operations and tenant relations while asset managers focus on portfolio strategy, investment performance, and owner returns

Property management focuses on operational excellence and tenant satisfaction, while asset management takes a higher-level view of the property as an investment, focusing on maximizing value, strategic leasing, and portfolio returns.

What is 'concierge service' in the context of Class A commercial buildings and why do owners invest in it?

Answer: Premium amenity services for building occupants that enhance the tenant experience, support recruitment, and justify premium rents

Concierge services in Class A buildings provide amenities like dry cleaning, dining reservations, package handling, and event planning, helping tenants attract and retain employees while justifying the premium rent commanded by Class A properties.

When managing a multi-tenant commercial building, what is the most important principle for enforcing building rules?

Answer: Apply rules consistently and fairly to all tenants regardless of size, lease value, or personal relationships

Consistent, fair rule enforcement builds trust with all tenants, prevents claims of discriminatory treatment, reduces conflicts, and maintains the professional building environment that protects everyone's property values.

What is a 'tenant appreciation event' designed to accomplish from a property management perspective?

Answer: Strengthen tenant relationships, demonstrate value, increase community within the building, and improve retention

Tenant appreciation events build positive relationships between property management and tenants, foster community within the building, and create goodwill that improves lease renewal rates and referrals.

What does BOMA's 'The Outstanding Building of the Year' (TOBY) award recognize?

Answer: Excellence in commercial building management across operations, management practices, tenant relations, energy efficiency, and community impact

TOBY awards recognize commercial buildings and their management teams for excellence across operations, tenant satisfaction, energy efficiency, emergency procedures, community impact, and overall building quality.

In property management, what does 'escalation procedure' refer to in the context of tenant service requests?

Answer: A defined process for elevating unresolved tenant issues to higher management levels when standard responses are insufficient

An escalation procedure ensures that unresolved tenant issues receive increased management attention as time passes without resolution, preventing complaints from being ignored and protecting tenant satisfaction.