When it comes to leasing, and managing any shopping centre, take the time to establish and implement a tenancy mix and tenant retention process. It is a wise business strategy to use to boost property and retail performance. In focusing on the tenant mix, you can improve the financial performance of the property and reduce…
The strategy behind growing commercial property management fees will always be separate from the commissions and fees you can get from sales and leasing activity. Any real estate brokerage business plan and team structure should consider the different fee types and the unique strategies required to grow those income channels separately. In defining the difference…
There is a certain ‘attainable mass’ of properties in commercial or retail property management that will seem to create its ongoing portfolio growth momentum. Getting up to and beyond that point is the focus for many brokerages. Typically, and for a few years at the start of a brokerage, the conversions of new properties to…
When you are taking on a new retail, office, or industrial property for management, make sure you have a good set of deliberate questions to work through and help you identify the performance issues within the property. Get to the bottom of the issues relating to income, tenancy mix, maintenance, risk, documentation, and occupancy. Where…
If you work in commercial or retail property management or leasing, you will soon come across the terminology of building automation in larger buildings. The issue or concept generally applies to buildings where the building function issues are complex and therefore for efficiencies, the operational elements of the building are integrated into daily property operations,…
Over the years I have seen many different challenges with Shopping Centers of all types in diverse cities and towns. Recently I was in Dubai, sharing that information and speaking at a conference on tenant mix and tenant retention strategies. Retail Property Performance Plan As part of that review, we then built an Asset Plan…
A complex office or retail investment property needs an Asset Plan. Things should be considered and decided as part of the planning process. Over time that then allows the right indicators to be tracked, negotiated, and changed as required. (NB – you can get Commercial Property Asset Planning tips in our Snapshot program right here)…
It is a fact that the property managements in your commercial brokerage can bring real value to the business overall. You can serve the clients in several different ways, control the listing stock, and optimize your commissions from any transactions created. A property management client is generally with you in the business sense for the…
In commercial property management, tenant communication is critical on an array of things. Every day there will be issues in and around the managed property that will impact occupancy and or building use. The greater the number of buildings that you manage, the more complex the problem. So, what are the targets with this? You…
The process of pitching and presenting to win a commercial property management is quite special. A good property management appointment is one where you match your services into the clients investment targets and property challenges. There are things to look at including: All of these things present issues of management and control. Some of these…
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