Tell me about a time you had to negotiate a lease or deal with a difficult tenant or client. How did you handle it?
Why This Is Asked
This question, grounded in the leasing specialist's role of managing tenant relationships, assesses negotiation skills and resilience, key for retaining tenants in competitive retail landscapes.
General Approach
Share a specific example using the STAR method. Highlight preparation, active listening, and how you created value for both sides. Quantify the outcome if possible.
Sample STAR Answer▾
Situation
During my internship at a property management firm, we had a long-term retail tenant who wanted to renew their lease but demanded a 30% rent reduction, citing lower foot traffic despite our data showing otherwise.
Task
I needed to retain the tenant to avoid a vacancy while maintaining profitability, so I had to negotiate a mutually acceptable renewal rate.
Action
I prepared a comparative market analysis showing competitive rates in the area and our mall's higher foot traffic. I then presented a counter-offer with a smaller discount of 10% along with additional marketing support for their store. I also emphasized the long-term benefits of staying and offered a flexible payment scheme for the first quarter.
Result
The tenant agreed to an 18-month renewal at a 12% reduction, which was within our target margin, and they increased their sales by 15% over the next year due to the marketing efforts.
Attempt Your Answer
Write your own answer, then get instant AI feedback graded against:
- •STAR Structure
- •Specificity & Numbers
- •Ownership Language
- •PH Workplace Context
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