Commercial property management is a special field in the property industry. The same, if not more, can be said about retail property. The property managers who work on these property types should be well-chosen for their skills and/or training for the needed skills. Commercial Property Industry Averages? Far too many agencies employ people in property…
In commercial property management today, the skills of the property manager need to be relevant and well applied to the particular asset given its location, type, and client requirements. There is no doubt that skilled commercial property managers are in short supply and yet they are a valuable part of any commercial real estate brokerage…
Tenant retention plans are essential to the performance of a retail property today. They help stabilise the existing tenancy mix and help you optimise the market rental across the entire site. A tenant retention plan can be a specific strategy to adopt as part of your retail property management processes and leasing support. It should be…
There are many ways to look at rent in any commercial property investment. Whilst every lease will have a starting rent many other factors in the lease are more important to cash flow. What’s the formula? It is the rent over time that matters from an income perspective in a lease of investment property and…
When we lease commercial or retail property today, the income factors can be improved initially through good lease negotiations and secondly a strategically sound tenant retention plan. What can you do? Cash flows and tenant retention underpin the performance of the property. We are then the ‘strategists’ in the process of property improvement, and we…
When it comes to presenting and pitching for commercial real estate business, you must adopt the team approach wherever possible. This way, you can cover the issues and complexities of the property type and the local market. Until you have been in the industry for many years, you will unlikely have the necessary experience and…
When you work in commercial real estate, it pays to set some rules regarding personal focus and daily action. Your actions drive your real estate business forward at a personal level. Consistency is then a key component for all agents to succeed in brokerage. Without some form of control and focus, the day will get…
When you negotiate a commercial or retail lease, it is not just a matter of getting the tenant to agree to some form of lease deal and then putting a lease ‘heads of agreement’ together. We, as agents, can provide a lot of value to the client by helping them through strategies and decisions relating…
When it comes to your career in commercial real estate, you will frequently be presenting and pitching for potential sales and leasing business. It pays to have a system of approach to showing and sharing your ideas about a property for a client. It could also be the case that you are a property manager…
When you work as a commercial real estate agent, it is tempting to take ‘shortcuts’ when it comes to preparing for and attending a listing appointment; this is especially the case if you are being invited to list properties regularly and frequently. The fact of the matter is that you should prepare well for each…
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