At Brit Properties, we recognize that developing strong relationships with our tenants is the corner stone of property management. We love our tenants and know that they are truly the core of our business—without a reliable tenant base, we’d have no properties to manage.
In a rapidly changing world, it is up to us to make a difference. Our goal is to not only develop effective property management strategies today, but to also help encourage those that are creating a better world for years to come.
The purpose of our Impact Program is to encourage partnerships with tenants that we believe are truly changing the world for the better. The program, as it currently stands, is one that is mutually beneficial: tenants that are difference makers tend to have long-lasting and reliable relationships. At the same time, our program helps these difference makers find an affordable location to base their enterprise, whatever it might be.
The relationships we create with our impact clients begins with a face-to-face conversation. We find ways that we can provide these clients with the space they need, at a price that does not cause them to run into the red. We make a diligent effort to understand their mission, to support their mission through charitable donations, and to help promote these clients in every way we can.
The organizations we partner with don’t just have a strong mission statement—we see them making a difference in everything they do. We have worked with tenants that help feed the poor, something that has become especially important during these challenging times. We have also worked with tenants that help provide seniors with much needed transportation and other types of care.
Making Real Change Possible
We are committed to making our charitable, non-profit tenants a priority, even if it means occasionally experiencing a temporary loss on our balance sheet. The impact that non-profits can have on their community is something that is tangible and profound. With the right tenant, being “nice” is something that is surprisingly easy—if we see that a tenant is actively working to make the world a better place, we will do what we can as property managers to ensure these tenants’ lives become easier.
In Chicago, one of our favorite tenants is a small company that makes exhibits for children’s museums. Owned by a husband and wife team, the business creates some of the best woodworking and metal working in the area. Demand for this type of work typically comes in waves, meaning that rent challenges might occasionally arise. In some cases, our clients doing this sort of work might need to pay later or pay only a portion of their agreed upon rent. Rather than pushing these businesses out, we work together to ensure that everyone—including the children that visit these museums—is able to thrive.
Working with these sorts of tenants is not a burden, but a privilege. In fact, if we could only work with these sorts of tenants, we would very likely choose to do so. Do these tenants necessarily maximize our bottom line? Not always, though we are not working for free. Do they maximize our total bottom line—the bottom line where everything, including social impact, is accounted for? Absolutely.
Creating a Better Future
At Brit Properties, we have been running our impact program for several years and have seen some remarkable successes along the way. Our communities’ needs are being fulfilled and enterprises of all kinds are hearing humanity’s calls to action. We have seen organizations of many kinds use our properties to help reach out to the community and reach the world as a whole. We strive to make “doing good” possible.
We believe that anything that is worth doing is going to require hard work. Success, in every sense of the word, requires a sustained effort. By developing a long-term approach in everything we do—whether its developing relationships, managing debt, or developing an investment strategy—we can ensure that our successes can be continued over time.
The impact program is just one small component of our broader business model. But it is something that we believe is big enough to sincerely make a difference.