Many landlords every year will have the challenge of finding a new tenant in their commercial investment property. If the landlord can work ‘ahead’ of their vacancy issue then there is time for the leasing agent to find a high quality tenant that matches the property and the investment intentions of the landlord. Consider these…
When you have a vacancy to lease in a retail shop, don’t jump too quickly at the first tenant who comes along. Some checking is required, and decisions should only be made when you know everything possible about the tenant and their intentions in occupation. Many landlords have suffered the financial impact of a poorly…
When you combine tenant types in a shopping center correctly, the tenant mix can be matched to the customers and increased sales can be the result. That’s how you will help make a shopping center successful. So let’s expand on that concept a bit further. To find the right tenants for a property it is…
When it comes to managing a commercial or retail property, the leases are the important factors that should be checked and reviewed for important things such as critical dates, lease options, and rent reviews. That can be done as part of the property handover and certainly that should be comprehensive and complete so that…
A franchise tenant will in most situations bring better chances of opportunity and stability to an investment property. That is the case largely because the franchise model for any business is already established and proven. Logic says that landlords and property investors should seek a suitable franchise type tenant to fill a vacancy in their…
When you manage, lease or own a retail shopping center it is very wise to regularly undertake a market supply analysis for the region and your property. In doing that, you can stay well ahead of property changes, tenant needs, customer interest, and retail shop availability. The supply and demand for lettable retail space will…
In a shopping center leasing program you are likely to be working with many smaller tenants, some of whom are likely to be a simple ‘family business’. In saying that you should have some ‘checks and balances’ to fall back on to ensure that you totally understand the value and commitment the smaller tenants can…
Every retail shopping centre should have a customer service plan. That plan can and should be part of the overall property business plan created as part of the centre management strategy. The object of servicing retail customers is to encourage ongoing sales and repeat visits to the property. Customer service is therefore a big part…
If you are to embark on a shopping centre renovation project for your clients, then look at all the issues of importance to the project outcome. A retail property is an income generating investment, so careful planning is needed to ensure that all stakeholders are not put under pressure or threat. Ask yourself the key…
Most shopping centres require regular upgrade and renovation. As part of that process, risk management and planning are key factors to making things work correctly. So let’s look at how a risk assessment could happen in working towards a renovation of a retail property. You know your location and town or city better than I…
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