Enhancing Your Shopping Centre Management and Leasing
When you have a shopping centre to lease and manage, there are many factors to consider and things to balance. As the economy shifts and changes, so do customers’ spending patterns.
Attracting customers to a shopping centre and then finding the right tenants for the long term is a delicate balance. Your success in doing that will impact the property income stream.
The Base Retail Plan
Where can you start? Every day you’ll work with customers, tenants, and other stakeholders to strengthen the ongoing asset performance. Ultimately, you will direct the property performance to the client’s investment targets. This video gives you plenty of ideas about retail property management and leasing.
What must you consider as part of this retail property planning process? Start with these:
- Rents
- Expenses
- Net income
- Tenant occupancy
- Vacancies
- Maintenance
- Retail sales
- Risk management
Of course, every client will look at their shopping centre from a unique perspective and may have a short or long-term investment profile or target to achieve.
How do your clients differ with property holding lifecycles now? Have you tuned your asset management plan to that?
The Client Investment Focus
It is essential that the property manager understands the focus of the client, and then compares that to the operations and the capability of the shopping centre.
If a shopping centre contains pressures or problems associated with the tenancy mix or the cash flow, there will be immediate concerns to address. So where do you start with that?
Today’s video, we share some priorities that will help you improve a shopping centre under management. Bring together all these focus factors to get the investment directions underway for your investor clients.
