... look around a retail property as a real estate agent or property manager, it pays to do so with an eye of a customer or visitor to the property. If you manage or lease a retail property it is the customer that will impact everything in the end result. Without customers the tenants cannot trade and therefore the rent cannot be paid. Look after the customer and the property will reap the benefits. All great retail properties are a fine balance between the tenant, the customer they serve, and the landlord that owns the property. If the property drives significant visitor numbers then the future of the property is assured. Part ... 's say that you have just taken on a new retail shopping centre as a property management and leasing appointment. So in walking around a retail property you can do look at specific things such as: Can you get access to the property without difficulty both on foot and in a motor vehicle? When customers enter the property from surrounding roads is the car park easy to understand and use? Look at signage at logical entrance points. Is the signage of high standard and of similar design at all entrance points? The branding of the property with a logo and colour theme is quite important to establish ...
Tags: shopping centre | property management | retail property management | shopping centres |

... rental down to a rate per unit of area. The quality of the premises should be looked at. This includes age, services, amenities, fixtures, fittings, property layout, and property improvements. Proximity to other tenants and businesses can be a factor in setting rent levels. You should look at those other tenants and determine if they have positive or negative impact on your subject premises. If your premises are part of a larger retail property then customer numbers to the property and the direction of foot traffic will be important in understanding and setting the rental. Understand if any incentives are active or have been given ... and how will that impact the assessment of market rental? Are there any clauses in the leases of comparable premises that impact the rental hence creating a discount or premium? You can add to this list as your location and property speciality dictates. Importantly you are gathering all the facts before you set a market rent in your property. Every commercial or retail property has unique elements that can impact the rental. The only way you can understand this uniqueness is to inspect the premises and any others to which you are comparing. Make the notes and then adjust the figures based on the ...
Tags: market rental | commercial property leasing | retail property | subject premises | best market rental |

... be optimised for the business plan for the property. Income and expenditure will be part of the decision process. All the leases for the occupants will be reviewed and the terms and conditions contained therein will be integrated into the cash flow plans for the property. Tenant mix becomes really important when you have multiple occupants in the same property and when they are close to each other. A poorly planned mix can impact the other tenants in the same area. When it comes to retail property, customers can see when things are not working in a property and will start to find some other place ... precincts within the property for customers to extend shopping and spend. Make it easy for the customer to spend time at the property by creation of common areas and adequate seating. Customers want to feel good when then visit a shopping centre, so look at all decisions from a customer perspective. Food and entertainment should be integrated into the retail property to extend customer interest and time shopping. Locate anchor tenants on the property so the customers walk past the smaller retailers. Ensure that the anchor tenant is well chosen and is locked into long term occupancy. Track the customer visits to the property through all ...
Tags: property performance | customer traffic | retail property performance | tenant mix becomes |

... be optimised for the business plan for the property. Income and expenditure will be part of the decision process. All the leases for the occupants will be reviewed and the terms and conditions contained therein will be integrated into the cash flow plans for the property. Tenant mix becomes really important when you have multiple occupants in the same property and when they are close to each other. A poorly planned mix can impact the other tenants in the same area. When it comes to retail property, customers can see when things are not working in a property and will start to find some other place ... precincts within the property for customers to extend shopping and spend. Make it easy for the customer to spend time at the property by creation of common areas and adequate seating. Customers want to feel good when then visit a shopping centre, so look at all decisions from a customer perspective. Food and entertainment should be integrated into the retail property to extend customer interest and time shopping. Locate anchor tenants on the property so the customers walk past the smaller retailers. Ensure that the anchor tenant is well chosen and is locked into long term occupancy. Track the customer visits to the property through all ...
Tags: property performance | customer traffic | retail property performance | tenant mix becomes |

... tenant and their lease permanence. Expect the potential tenant in a retail property to visit your property before they make a decision to lease. Any retailer knows that trade varies on different days of the week and they will want to check that themselves and with other tenants. Given that tenants in a retail property always talk to each other, the high value of good tenant relations with the landlord and property manager cannot be understated. Unhappy tenants in a property can detract or derail your endeavours to lease any vacancy. This marketing package for a retail lease vacancy is comprehensive and will answer many of the tenant ... of property promotion and marketing for the tenants Details of signage and tenancy design as it applies to the subject tenancy Details of the anchor tenant and their lease permanence. Expect the potential tenant in a retail property to visit your property before they make a decision to lease. Any retailer knows that trade varies on different days of the week and they will want to check that themselves and with other tenants. Given that tenants in a retail property always talk to each other, the high value of good tenant relations with the landlord and property manager cannot be understated. Unhappy tenants in a property can detract ...
Tags: marketing package | retail malls | leasing proposal | leasing retail property | professional retail leasing |

... and tenant mix are critical to the leasing success in a retail property. Poorly constructed leases and inexperienced tenants in a retail property are like a cancer on property performance. It can drag the property back for years. Careful choices are required. So let's look at that. In a shopping centre the property manager has to be forward looking and planning the placement and performance of the tenants. Vacancies are to be minimised through strong lease administration processes. It is not unusual to be planning your leases and vacancies up to 2 years ahead. Given that retail property renovation and upgrades occur frequently, lease administration and vacancy controls ... A shopping centre is a special type of property investment that must be well managed and leased. It is closely integrated to the community and serving the customer. If it does not achieve that, then the property fails and the landlord loses money. This is where lease management and tenant mix are critical to the leasing success in a retail property. Poorly constructed leases and inexperienced tenants in a retail property are like a cancer on property performance. It can drag the property back for years. Careful choices are required. So let's look at that. In a shopping centre the property manager has to be forward looking and ...
Tags: successful shopping | tenants faster | retail property | centres find tenants |

... When you take on a commercial property to property manage, the questions you ask at that early stage are critical to the ongoing management process. In many cases you will not be given all of the facts or detail about the property. Asking the right questions in the property handover is fundamental to starting off on the right foot. Every property is different and at the basic level will generally be industrial, office, or retail property. This says that you should have a property management handover procedure for each property type. Make no mistake; the property management handover procedure is greatly assisted by use of a checklist. To a large ... many cases you will not be given all of the facts or detail about the property. Asking the right questions in the property handover is fundamental to starting off on the right foot. Every property is different and at the basic level will generally be industrial, office, or retail property. This says that you should have a property management handover procedure for each property type. Make no mistake; the property management handover procedure is greatly assisted by use of a checklist. To a large degree the checklist is relevant to your location and the property type; however this basic list will help you with creating your checklist if you ...
Tags: property management handover | management handover | management handover tactics | commercial property |

... and retail property should not be forgotten in the property management and leasing process. Do so at your peril! After the lease is in place, ongoing contact and support of tenant occupation is critical to the performance of the property. Without the tenant stability, the landlord's cash flow is threatened and the property as an investment could then underperform. Your tenant base and tenant mix in the property have to be protected at all times. Tenants are the foundation of the property investment process. When tenants are in building or part of building occupation some of the critical things to monitor are: Functionality of the property services ... things evolve from the lease document itself. The property manager or lease manager for the landlord has to know how to read a lease and track the important points contained therein. The best way to work with tenants in a commercial or retail property is to establish a series of monthly meetings where they can talk about current issues and concerns; they can also be updated on any current property events. In a property that contains many tenants this is absolutely critical as unhappy tenants will talk to others and before you know it you have a property that is unstable and volatile. The management of ...
Tags: commercial tenants | tenant ports | retail property | commercial property | property manager |

... income producing property of an office, industrial, or retail nature, that is owned by a property investor, or office, retail, or industrial property owned and occupied by businesses that use the premises for commerce, service, sales, production, or manufacturing Looking at the key elements above the most immediate focus should be to build your knowledge of local, regional, and national legislation as it applies to commercial property. A solicitor will be a good point of reference to start with. Take care with retail property legislation as it is common for many locations to have specific rules and regulations that apply to how you lease and run a retail property. It ... a retail property. It is not unusual to have specific forms and processes that you must comply with when it comes to a retail tenant or lease. A good property manager brings controls and focus to a property so that it may return a stable income over the term of occupancy or investment. Given that a property is an investment for some years, it should be managed with the big picture in mind. That is almost like modelling a business plan for the property, and indeed some properties do have that level of control. Not all property investors will want to hold the property for their lifetime. Most property investors ...
Tags: manage commercial property | commercial property management | management financial management |

... to your area and the property type. There are a variety of leases around, some of which would be prepared by solicitors. Knowing how to read and interpret a lease is fundamental and essential to managing a commercial property. Expect that all leases are different and reflect unique terms and conditions; then look for the matters that impact the tenant and the landlord and how they must respond during the occupancy. When something goes wrong with a tenant or landlord relationship it is the lease that you must review first to see how you respond. Retail property is quite different: Retail property leasing in many locations ... occupancy. When something goes wrong with a tenant or landlord relationship it is the lease that you must review first to see how you respond. Retail property is quite different: Retail property leasing in many locations can be supported by special laws and regulations. These rules and compliances have to be exercised correctly in any new leasing situation before a lease can be implemented. When in doubt see a local solicitor to understand what has to occur locally when new retail tenants want to take up vacant premises. Awareness of rental types and market rental trends: Rent in commercial leasing can be established in a ...
Tags: commercial property manager | commercial property management | property manager | management skills |

... or demolition provisions Signage policies and placement on the property Marketing funds that are applying to the promotion of the property Current budget of income and expenditure for the property together with the actual year to date performance Site topography and risk assessment Outstanding orders and notices that relate to the property Environmental assessment and impact Heritage assessment and impact Energy ratings and assessment Trading hours detail for all the tenants Proximity to competing property Tenancy mix and layout In real terms all of these issues are matters that impact the retail property every day. How they allow the property to function and perform is what you really ...
Tags: shopping centre inspections | property tenancy | retail property | occupancy detail | shopping centre |

... is required to fill the vacancy. You may specifically need just one type of tenant to make the tenancy mix work, and that will impact your marketing processes. Get all the legal paperwork and disclosures ready for the lease negotiation. In retail property this can be quite specialised and will require someone who knows what to do with due regard to retail leasing legislation. This is usually a solicitor for the landlord. Have an information brief prepared for the vacancy and get it approved by the landlord before use. The brief should itemise all the elements required in a new lease of the ... A retail property is a vibrant and active type of property investment. Ideally you do not want vacant space arising although it will occur from time to time. So let's look at how you as a real estate agent can market that shopping centre vacancy to potential tenants. Preparation is the key to leasing vacant space in a shopping centre ...
Tags: shopping centre vacancy | retail centre managers | centre managers | prospective tenant |

... exercise carefully on the tenant lease at the time of lease negotiation. When this 'control' is not well considered, especially in a multi-tenant building, property performance can be affected. Not all tenants function well near each other and the lease is the only way to keep the harmony in occupancy. In retail property and tenancy mix this is critical.  The 'permitted use' is then an essential part of the lease strategy and the operation of the property. The best 'permitted use' clause in a lease is very specific to the tenants business; most particularly it is a tight terminology that keeps the tenant ... therefore in the landlord's interest to keep balance and control in both tenant mix and also the permitted use clause of the leases. Property leases in commercial investment property attempt to cover many property issues for both the landlord and tenant. Each and every lease should be carefully prepared given the specific nature of the occupation and the landlord's investment plan. Landlords that consider themselves and their property to be of importance for the long term should use a property experienced solicitor to reflect the needs of the landlord and the tenant into a sound and secure lease. Not any old lease will ...
Tags: estate permitted | real estate permitted | commercial real | lease term lease | property performance |

... for commercial property, all-property rents fell, with office rents dipping for the first time in four months. This is the first time in over a year that retail property has toppled offices from the top spot. In another study carried out by CBRE, it was revealed that shopping centres had also improved month-on-month, with a 1.5 % growth in capital values, and total returns of 2%. However, the data relies heavily on the performance of London's commercial property market. Outside the capital, the only other city in the UK to have recorded stable property rents, and a steady increase in commercial property is ... is the first time in over a year that retail property has toppled offices from the top spot. In another study carried out by CBRE, it was revealed that shopping centres had also improved month-on-month, with a 1.5 % growth in capital values, and total returns of 2%. However, the data relies heavily on the performance of London's commercial property market. Outside the capital, the only other city in the UK to have recorded stable property rents, and a steady increase in commercial property is Aberdeen. According to data compiled by Knight Frank, commercial property in aberdeen has experienced a marke improvement over ...
Tags: Commercial property | commercial property in aberdeen | offices | retail property |

... understand the contents relative to ongoing occupancy How to interpret tenancy mix and strategies What are property outgoings and how to recover them from the tenant through lease and rental structures How to reconcile rent and outgoings payments from leases that are all different How to handle property breakdowns and maintenance events on a major scale How to track retail property performance with customers, trade and local demographics How to create a building budget and monitor its performance How to read legislation that relates to commercial, industrial, and retail property Intelligence, sound business practices, and an ability to make decisions under pressure The list goes on ...
Tags: great commercial property | commercial property manager | property manager |

... . Industrial property will get you out into the property market whilst you build your skills as a leasing agent. Office property leasing can be much more complex given the nature of office occupancy. The negotiation is more advanced, and leases used and created are generally done so with the assistance of a property lawyer. Retail property is very special and knowledge here is critical to success at all stages of shopping centre leasing. It is not just the property that requires understanding, but also the local customers, local demographics, retail shopping trends, and tenancy mix. Many real estate agents will start their career in leasing one property type till ... . If you are just starting your career in commercial property leasing, then the following is the general rule. Industrial property is easy to get involved with at the very start as it is not hard to understand or promote to single small tenants. Industrial property will get you out into the property market whilst you build your skills as a leasing agent. Office property leasing can be much more complex given the nature of office occupancy. The negotiation is more advanced, and leases used and created are generally done so with the assistance of a property lawyer. Retail property is very special and knowledge here is critical to ...
Tags: commercial property leasing | leasing agent | property leasing agent | property leasing |

... or retail property is one of the key factors for investment performance. It is the main thing that underpins buyer interest at the time of sale and the price that can be achieved. Buyers are interested in income and your ability to create income clarity will help the property sell when the time comes. You need a property business plan or something similar to set and track the income targets. Income in commercial property is made up of a number of things that interrelate and impact the bottom line. They include: Net Rental paid by tenants Gross Rental paid by tenants Capital value from any property ... tenant usage Gross lettable area and net lettable area All of these things involve money. As a real estate agent you have to ask the questions and get to the bottom of the real income for the property. Optimised income will increase the sale price providing the property is in a desirable location and threats of occupancy or building function do not exist. As a property professional you should know what to do in the situations above to improve the rent and income. Your local knowledge as a real estate agent will help this process substantially. It is this local knowledge that will ...
Tags: rental trends | retail property | shopping centre | grow income | rental paid |

... is moving ahead in various ways. As we come out of the global economic crisis the first levels of property to respond to stability and growth will most likely be industrial property. It is already happening in some cities and countries. The next property type to follow in the recovery will be office property. It should be noted that retail property is and will be separately performing as it is driven by consumer sentiment and the economy overall; that is a different cycle within each country. Every property no matter how large or small should be managed to a plan that includes: Income strategy Expenditure strategy Capital ... will most likely be industrial property. It is already happening in some cities and countries. The next property type to follow in the recovery will be office property. It should be noted that retail property is and will be separately performing as it is driven by consumer sentiment and the economy overall; that is a different cycle within each country. Every property no matter how large or small should be managed to a plan that includes: Income strategy Expenditure strategy Capital expenditure strategy Lease documents Tenant mix Renovation and maintenance Lease renewal decisions and alternatives Marketing of vacancies A good commercial property with a good business plan ...
Tags: commercial property | property owners | real estate | real estate agent | commercial property managers |

... with single small tenants would not need to be so controlled. Office property and retail property would almost always have budgets and benchmarks to reach each year. Tenant mix will also be part of the decision process when it comes to future income and the expenditure for a given property with multiple occupants. So what we are saying here is that all property performance should be tracked to a financial year budget of income and expenditure. By setting budgets for both of these categories the landlord can target net returns and prepare the property for growth or sale as the case may be. The real estate ... Commercial investment property should be leased and managed to established budgets and benchmarks. Only the very basic of industrial buildings with single small tenants would not need to be so controlled. Office property and retail property would almost always have budgets and benchmarks to reach each year. Tenant mix will also be part of the decision process when it comes to future income and the expenditure for a given property with multiple occupants. So what we are saying here is that all property performance should be tracked to a financial year budget of income and expenditure. By setting budgets for both of these categories the landlord ...
Tags: investment property | property performance | income budgets | expenditure benchmarks |

... with single small tenants would not need to be so controlled. Office property and retail property would almost always have budgets and benchmarks to reach each year. Tenant mix will also be part of the decision process when it comes to future income and the expenditure for a given property with multiple occupants. So what we are saying here is that all property performance should be tracked to a financial year budget of income and expenditure. By setting budgets for both of these categories the landlord can target net returns and prepare the property for growth or sale as the case may be. The real estate ... Commercial investment property should be leased and managed to established budgets and benchmarks. Only the very basic of industrial buildings with single small tenants would not need to be so controlled. Office property and retail property would almost always have budgets and benchmarks to reach each year. Tenant mix will also be part of the decision process when it comes to future income and the expenditure for a given property with multiple occupants. So what we are saying here is that all property performance should be tracked to a financial year budget of income and expenditure. By setting budgets for both of these categories the landlord ...
Tags: investment property | property performance | income budgets | expenditure benchmarks |