Communication and Negotiation

Question 1

What example can you use in your PM role for communication / negotiation?

Answer 1

A tenant sought a rent concession due to financial challenges in their business.

I communicated with my client to understand their goals and objectives.

Subsequently, I engaged in negotiation with my client and the tenant, and we came to an amicable agreement

Question 2

LTA example - explain

Answer 2

1. Site visit noticed that the tenant installed ancillary office space without reporting the alterations to the client or managing agents
2. After discussing the lease terms and our internal application process, the tenant submitted drawings and plans
3. Retrospective license was drawn up and the tenant had to pay

Question 3

What are some good negotiation skills?

Answer 3

Detailed research and preparation - undertaking a SWOT analysis
Understanding the other parties position
Constructive environments for the negotiator
Always maintain communication

Question 4

Can you explain to me the internal steps of an LTA?

Answer 4

1. Receive the undertaking from the tenant solicitors
2. get the plans/drawings
3. if its a structural LTA, get in a building surveyor
4. Once agreed, license is drawn up.