From time to time you will get retail properties and shopping centres that have a rising vacancy problem. When this goes on for too long the vacant tenancy space becomes ‘stale’; the customers to the property get a message of property decline. Soon the customers to the property are shopping elsewhere. So the important lesson…
In commercial property management and leasing, the leases and the tenants in a property are critical to the income cash flow for the landlord. You as the property manager must watch for the upcoming lease changes and renewals. They are called ‘critical dates’ and they should be tracked and actioned early or on time in…
One of the biggest problems I see in commercial property management is in setting the correct fees for services provided. Many agents think that fees in management should only be based on passing income or as a flat fee against an ‘industry standard’. That’s the wrong way to do it. The result can and usually…
When it comes to property management processes in investment property, the most intense property type is that of a retail or shopping center nature. There are so many things to think about and manage as part of the overall retail property performance. It should be said that a successful property management system in retail will…
Managing a retail shopping center is a very special process. It requires the right leasing and property management specialists that understand all the key facts of the property type and the local area. Retail property requirements are more complex than those that apply to office and industrial property. If retail is a property type that…
A career in commercial property management can be a very rewarding choice for you. In saying that you should be prepared to learn and grow your skills for your entire career. The complexity of property types and management styles requires that. In an average working day, here are some of the things that a property…
The commercial property management process can be quite a challenge when it comes to controlling workload and getting results. The same can be said about retail property and shopping center management. On that basis every property manager should be well chosen for skills, knowledge and relevance to the property type. The skill set behind the…
In shopping centre management it is really important that you have systems to follow in undertaking daily property management activities. A retail property and particularly a retail shopping centre is perhaps the most demanding property that you can manage. You have lots of smaller specialty tenants to control each day as well as the activities…
In the leasing of a retail property or tenancy it is really important to have a comprehensive leasing package available to give tenants that may be considering occupancy in any vacant premises that you are marketing. It should be said here that you cannot misrepresent the property in any way so the quality of the…
The management of commercial and retail property today are complex issues. The profession requires diligent process and highly skilled people. As part of that, the chosen property manager should be reporting to their landlords in a regular and professional way. The size and the complexity of a property under management will dictate the diversity and…
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