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Sales Pitch Topics for Leasing Agents

city buildings on book cover

There are differences to consider in a sales pitch for a lease listing in commercial or retail real estate. You are working with elements of rent, vacancy factors, supply and demand, property types, and certain target markets of tenants. Landlords need a bit of help in knowing how you see the ‘attraction factors’ that apply to their property. Tell a story about their property and how you will move on the leasing requirement; demand exclusivity for your intense focus and time commitment.

Before going too much further here, it should be said that the leasing part of our business is very lucrative as you can connect with plenty of local landlords and that can lead to sales appointments over time. Be prepared to work with lease listings and convert them; go ‘deeper’ and make direct calls to local or targeted tenants.

Quality is important in working with lease vacancies and the different properties. That is a rule to ‘live by’ in brokerage. Choose the properties that are likely to create tenant interest. Know what motivates a tenant to look at or take up a property. That knowledge can be gained and used as you talk to plenty of local businesses.

 

Listing Facts for Presentations

Take every potential lease listing and do a ‘SWOT’ analysis before you engage with the landlord client. You are then prepared to ‘pitch’ for the listing. Here are some things for you to talk about with the landlord as the client for you:

  1. Levels of enquiry – show the landlord what is happening with the inbound enquiry and list the questions by a group as to what tenants are looking for. Will the landlord’s property satisfy that list of questions?
  2. Property types – put the client’s property firmly in a property grouping for the zone. At that point, you can then tell the client what they are up against with other listings and lease offerings.
  3. Location preferences – explain how different tenants look for location advantages such as roads, transport points (ports and airports), location to end users or markets, and other local businesses. Some locations are more attractive than others when it comes to those elements.
  4. Target marketing – shortlist a few tenant types that will be valuable in the target marketing process. Your promotional strategies can then be direct and deliberate as you spread the word about the property. Tell the client how you will do that.
  5. Local area comparisons and coverage – list the competing properties in the precinct, and then take some photos, get the property facts in each case, and look at the strengths and weaknesses of each property. The competitive position for the listing is then something that you can talk about with the client and make some clear recommendations.

In saying all these things, simplicity is important in what you say, do, show in the listing process or pitch. Help the client see and hear how you can move things ahead with a direct focus on results. That is the best way to pitch for a commercial real estate lease listing. Be different, real, and relevant to the property and the client.

 

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Shopping Center Managers – How to Reposition and Improve a Retail Shopping Center

Any shopping centre today can be a challenging asset from a performance perspective.  There are many challenges to track, balance, and manage.  The skills of the property manager and or leasing manager applied to the task will be critical to asset performance.

Fees for services

It should also be said that the fees to manage any retail property are also usually higher than the fees charged within industrial or office property management.  The skills of the people deployed on the property will reflect on the asset outcomes, so you must employ the right people for the task.

People Costs

Good quality people with the retail experience will cost more from a salary perspective.  The property outgoings should (subject to local retail leasing laws and regulations) be structured through the leases for management fees and staff salary recovery.

Taking on a new property?

If you are taking on the management of a shopping centre from a previous owner or previous property manager, there are many things to look at immediately and specifically.  Getting things under control quickly should be a priority with a retail asset.  You can use a checklist for that process.  Here are 4 specific ideas to help you get started:

  1. Arrears – Let’s start at the money or rental end of property performance. Understand where the rental arrears are and why they are happening.  Separate strategies will be required to get those things controlled.
  2. Vacancies – What and where are the vacancies now in the property and how are they impacting customer and tenant outcomes? Look at filling the vacancies quickly even if you must do short term rentals at lower base rents.
  3. Tenants and tenant mix – Assess the tenants in the property for current issues and volatility. A weak tenant mix will drag down property performance.  Talk to the tenants and ask about customer sales and customer requirements.  It is very likely that the tenants will know what is needed in a retail property to resolve shop placement and mix problems.
  4. Income and expenditureReview the cash flow results for the property over the last 12 months. You will see the timing factors from high cost issues such as rates and taxes, as well as capital expense items.  Then look at current rental levels, vacancy factors, and upcoming rent reviews.  From these things you can create a budget for the property.  The object here is for you to comprehensively control the money coming into the property and flowing out to the various stakeholders.  You can then shape the financial factors of the property in a controlled way into the future.

These 4 factors will lead to greater property understanding and control.  When you can see what is happening in the retail property or shopping center, you have something that you can base your future strategies around.

You can get more tips about Shopping Center Management and Leasing in our eCourse right here.

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How to Choose the Right Commercial Property Management Software Solution

In commercial real estate brokerage today the property management division of your business will need a dedicated and specialised property management software program to control asset performance for the clients that you serve.  There are many different software packages around, some of which are of the highest quality, whilst others are very average.

Quality is important

If you plan to provide a professional property management service across the best buildings in your town or city, then you will need a high quality software program that can comprehensively cover the needs of the clients and the challenges of the properties.  There are significant and different management requirements across industrial, office, and retail property types.

In saying that you do need to choose the right software program, there are costs associated with all of the specialised solutions available.  Most of the high quality programmes are reasonably costly although they can be easily funded by the correct management fee structure and a good size property management portfolio.

Understand the reporting solutions

If you want to attract the best clients to your professional property management services, you will need a good software solution to support your activities.  You need something that is well proven and cost efficient, and yet something that is easily able to produce the reports that the clients require.  An informed client is more readily able to make the best decisions in a timely way.

Know what you must control

Understand the informational needs of the clients that you serve across an array of activities.  Consider some of the most common challenges that you strike on a regular daily basis, including:

  • The lease documentation and updates
  • Tenancy mix details and variations
  • Expenditure activity across the various cost codes
  • Arrears controls and reporting
  • Regular tenancy correspondence and communication
  • The landlord reporting requirements and report formats
  • Property maintenance records
  • Risk management and documentation
  • Energy management and tracking
  • Environmental issues and controls
  • Income controls and optimisation
  • Rental strategies and budget expectations
  • Property budgeting for both income and expenditure
  • Premises and area detail
  • Tenant contact, correspondents, and records
  • Outgoings activity and performance
  • Cash flow projections

So these are some of the most common requirements in most commercial property management activities.  At a minimum, the software solutions that you use need to cover these and other issues effectively and directly.

The Categories?

You can see from the list that some of the matters are financially orientated, whilst others are linked to documentation, and also tenancy mix occupancy.  One software package has to cover all of the issues in an accurate way.

Choose the best commercial property management software package that suits your typical client profiles, property types, and property portfolios.  Understand the factors of growth that will occur with your property portfolio so that the selected property management solution you choose can give you the best ongoing support into the future as the portfolio grows and building complexity increases.

You can get more commercial property management tips in our eCourse ‘Snapshot’ right here.

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Why Confidence is so Important in Commercial Property Management

The clients that we work with in commercial property management expect experience and confidence in the managers that they use.  Those clients like to know that the person chosen to manage their property can handle the variables of income, expenditure, tenant mix, and lease negotiations.

So why worry too much? The experience and confidence in any property manager will be important to the client service process and also to the brokerage fees charged for services rendered.

Inexperience is Dangerous

An inexperienced property manager can be a costly and concerning problem in property performance for any investor.  Invariably that is the time when errors and omissions occur with the critical factors and tenancy activities.

So the property manager needs the confidence, knowledge, and experience to know how to look for upcoming concerning issues in the leases and with occupancy, and how to position the property for better results in investment outcomes.

Every landlord and property owner will have certain unique targets to merge into that property performance equation, so the balance becomes a bit tricky.  That is where the right property manager for the asset and the client should be considered.

The complexity of many office and retail properties requires specific experience and knowledge to help the property stay on track from an investment perspective.  Errors or omissions create problems with any property and its performance.

Critical Confidence Factors

Here are some ideas to help you with this.  Any property manager should be specifically familiar with the following topics as they apply to the location, the client, and the property type:

  1. Income – The levels of income in any property will be impacted by local vacancy factors, current market rentals, and business sentiment. If a property is to grow its income base with rentals that are market aligned, the property manager really does need to have advanced skills with tenant management and property leasing.  Remembering that many leases exist for a number of years, the property manager is the person responsible for qualifying the tenant, then establishing and growing the cash flow.
  2. Expenditure – Rarely will property expenditure decline and that is why a specific budget is required to keep property expenditure under control. Energy costs, operational costs, and property usage place pressures on expenditure each year.  Operational costs within most properties are escalating.  There are seasonal factors to look into as well including climate conditions, and the associated energy consumptions.
  3. Tenant placements – When you have a number of tenants within the same Investment Property, you will have challenges when it comes to positioning, occupancy, and property use. Some tenants have an impact on other tenants around them.  As part of any lease negotiation, specifically choose the right tenants for the right location and then control them within the existing lease documentation.  Understand the businesses in each case and the types of people that will be accessing the tenant and or the property.  What pressures will happen as a direct result of tenant existence and occupation?  You may need to put certain controls within the lease document to keep things on track within the tenancy mix.
  4. Lease negotiations – Every lease negotiation should be looked at in balance allowing for current market conditions, vacancy levels, market rentals, and the locations of other tenants within the property. Some leases will come to an end within the same property at a particular point in time.  Most owners cannot afford to have escalating vacancy factors across a large percentage of the property.  Negotiate your leases so that the cash flow of rental is not overly impacted by lease expiry dates.
  5. Vacancy strategies – Like it or not vacancies will happen in any property. The impact of those vacancies can be lessened through finding new tenants, moving tenants around, and modifying the property use.
  6. Maintenance strategies and costs – During the year things will happen in any managed property. You will have maintenance issues occurring for all types of reasons, and some of those repairs will be timed whilst others will be unexpected.  You need response systems for all levels of maintenance including emergency responses.

Are you ready to improve your confidence and knowledge in commercial property management?  A successful property management division in any brokerage will bring many advantages to the business over time.

You can get more commercial property management tips in our Snapshot eCourse right here.

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Commercial Real Estate Leasing Brokers – The Additional Benefits of Working with More Local Tenants

If you are a commercial real estate leasing agent, you can get plenty of market traction if you work with local tenants and business owners.  They tell you things and that then leads to listings and better commissions with quality property transactions.

Always err on the side of leasing quality when it comes to any property listing or property choices.  Why is that?  Consider these things:

  • Quality properties create better levels of inquiry
  • The rents are higher per unit of area
  • The commissions are better due to the higher rents
  • The tenants are drawn to a quality listing
  • Modern buildings offer a level of improvement and services that most tenants require

What are the Leasing Positives?

There are some good things evolving from working in property leasing and resolving tenant needs.  Think about these:

  1. Leasing leads to Property Management – Many landlords are open to property management services when you have just solved a complex leasing issue for them.
  2. Leasing leads to Sales – A lease today is likely to be a property sale in the future, particularly if you do a great job for the landlord property investor.
  3. Tenants share local property information – Local tenants will tell you many things about their location and other nearby businesses.
  4. Landlords want help with tenant placement and tenant mix – Whilst a landlord may have a fully occupied property right now, many leases may be in need of upgrade and renegotiation at the right time in the future. As a general rule, weaknesses in leases can be negotiated away over time with better leases and rents.
  5. Rental and lease strategies are highly specialized – There are many different types of rents and leases; they can be mixed and matched to the investment requirements of the landlord and or the occupancy needs of the tenant (it just depends on who you are engaged by as a client). You can drill down into market rent strategies and leasing alternatives.  That will then make every lease negotiation more valuable for the clients that you serve.

So you can do a long way in the property market as a specialized agent or broker by starting from a ‘leasing base’.  Understand the linkages between the 5 points mentioned and build your skills and property market around them.

In closing on these points, recognize the differences between office, retail, and industrial property.  Understand the leasing opportunity in each property type, and then choose the segment that offers you the most market activity over time.

You can get more commercial real estate broker leasing tips in our ‘Snapshot’ eCourse right here.

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Commercial Real Estate Agents – Control Your Tenants for Better Leasing Results

In a commercial or retail property today, it is the tenants that provide the backbone and the stability to income and rental performance.  On that basis, you really do need to keep your tenants well in control given the prevailing market conditions and the current tenancy mix.

It is notable that a retail property can be highly volatile when it comes to tenant interaction and occupancy.  Essentially all retail tenants are essentially small business people that rely on the success of the property and the overall tenancy mix to provide an opportunity for sales growth.

The tenants in a retail property will usually talk between each other on a regular basis.  They therefore share information and perceptions relating to the property, the property manager, and the landlord.  I go back to the point, that you must not let your tenants get out of control.  Encourage good communications and build solid relationships with all of your tenants.

Here are some rules to apply to the tenant communication and connection process in commercial and retail property today:

  1. The tenant will be assessing their business performance continually during the year and the lease term.  This then says that you should meet with your tenants on a monthly basis.  This will help you when it comes to understanding shifts and changes relating to their business, customer base, or sales.  If you identify any problems early, you can make the necessary adjustments to occupancy or leasing strategy.
  2. In a large property, it is likely that you will have one or more anchor tenants as part of the tenancy mix.  The anchor tenants will usually be in occupancy for the long term with a lease document that extends over a number of years; in most cases the lease for an anchor tenant will be in excess of 10 years and will have options for lengthy renewal terms.  Stay close to your anchor tenants so that you can understand how they are integrating into the overall property and any associated specialty tenants.  The success of the anchor tenant will have some flow through to the specialty tenants.
  3. Most leases will have provisions for rent reviews and options as part of occupancy.  The critical dates that apply to those lease situations should be carefully watched.  Any rent review or lease renewal inside the next 12 months should be negotiated as early as possible.  This then will remove the volatility from the property for the landlord.
  4. Every meeting or conversation with a tenant should be documented as quickly as possible.  Whilst a simple situation or discussion today with a tenant may seem unimportant, it is quite common to have more complex issues arise in the future that started from some simple discussion or telephone conversation.

Get to know your tenants as part of the services that you provide for your client the landlord.  In this way you can help the client understand the predictable changes that you can see with the tenancy mix and the lease profiles.

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Top Leasing Agent Formula for Success in Commercial Property

In commercial and retail property, a top leasing agent will make a lot of commissions.  That is because they specialise.  They know the local businesses that are looking to move over the coming years and they work towards putting the right deals together.

In reality, landlords need the top leasing agents to help them that really understand the local area.  Those top agents will have their market covered in a comprehensive database of tenant movement, lease strategies, rent alternatives, and marketing ideas.  Finding the right tenant for the right property is a real skill.

Landlords do not need an agent that just knows how to lease.  Anyone can put a sign on a property and list it on the internet.  When you are a ‘top agent’ you will have the market coming to you because of that intense and relevant market knowledge.  You will also know who are soon to be moving and for what reason.  Market intelligence is invaluable in our market today as businesses change location and seek better leasing deals.

These are the skills and knowledge factors of a top leasing agent today:

  1. They have a comprehensive awareness of what all the local tenants are doing in their current leases.  They know when those leases will expire and will work towards helping those tenants in the last year of their lease to find something of better value or relevance to the business.
  2. They know where the successful businesses are that will need property change.  They look for tenants in pressured occupation.  Expansion or contraction factors are major triggers when it comes to property leasing.
  3. Top agents know the landlords of the area and the best properties that create the major interest.  When you can relate to those properties and the existing tenant mix, you will soon see property change and opportunity in each.
  4. Rentals will change from property to property and location to location.  To a great degree, the rentals in any location are driven by the rate of tenant enquiry and the supply and demand for leasing space.  As part of that equation it is wise to keep a close eye on the upcoming property developments in the local area.  It takes about 2 years from approval to completion when it comes to getting a new investment property established.  That being said, the property developer will be offering some very real incentives to attract tenants even before the property comes out of the ground.
  5. Lease terms and conditions are sometimes standard to a property or landlord, but they will also be influenced by the rate and type of local property enquiry.  A lease that is offered for a vacant space should be matched to the prevailing market conditions and current lease enquiry.  You may need to create incentives to attract that lease enquiry.
  6. Franchise tenants are a good source of lease enquiry.  Top agents work the franchise groups to find the right properties that suit them.  Those franchise groups will have a priority in location and lease terms.  Get to know what the franchise groups want.

To be the best leasing agent, you can dominate your market when you know what the tenants, the landlords, and the properties are doing.   Isn’t that what we should do anyway?

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Retail Leasing Strategies for Commercial Property Agents

When you work on retail property as an agent, you will soon see the need to specialise locally.  There is a lot of difference in property performance when you compare retail property to office property and industrial property.  The factors that drive rental, lease enquiry, and property performance are totally different.

If you choose to be a retail leasing specialist, it pays to have a comprehensive knowledge of the factors that drive retail property sales, and retail property performance.  All of these factors are linked and impact the activities of the tenants, the tenancy mix, the landlord, and the property manager.

Retail leasing strategies today will vary from property type to property type and location to location.  They are however underpinned by local market awareness.  To help you with the local market awareness here are some tips and ideas that you can merge into your business activities.

  1. Get to know all of the franchise groups that are located in your region or those that could be located in your region.  Franchise groups are greatly involved with retail property leasing and property performance.  They bring a brand to the property that can have significant benefit to the overall tenancy mix.  That being said, they have a specific need when it comes to finding the right property and occupying that property.  In many cases they will bring a specific lease to the landlord as part of the lease negotiation.  In those circumstances, it pays for the landlord to have an experienced property solicitor to help them with the adjustment of the franchise lease document to make it relative to the subject property.
  2. The competing retail properties in your local area will always have factors of change.  That will include expansion, contraction, renovation, and refurbishment.  All of these things can shift the tenancy mix and drive tenants to other locations.  That will have impact on your particular subject property.  As a specialist in the area, keep on top of the changes to the local area in both demographics and property availability.
  3. Most shopping centres will have one or more anchor tenants as part of the tenancy mix.  Anchor tenants are very special when it comes to the future of the property and the attraction of specialty tenants to the shopping centre.  On that basis, it pays to connect with the relevant and successful anchor tenants that could occupy medium to large retail properties.  Anchor tenants may be department stores, supermarkets, or hardware stores.  Given the size of the tenancy that they would occupy, the rental terms and conditions will be significantly different in circumstances to those that are offered to the smaller specialty tenants.  In exchange for these differences, you would normally negotiate an extensive and comprehensive lease with the anchor tenant over a long lease term.  That being said, the anchor tenant must be the tenant that you require to match the needs of the local shopping demographics and the tenancy mix.
  4. When it comes to retail property, there will always be alternatives of rental, lease terms, and occupancy conditions.  They will include rental levels, rental types, fitout controls, refurbishment strategies, relocation strategies, and landlord investment requirements.  Get to know the activities of all competing properties so you can bring that information into those retail properties owned by your clients.

A property person that specializes in retail leasing will be in regular contact with the local business community.  It is this business community that provides the specialty tenants for your properties.  As part of that process, you should also be contacting tenants in other competing properties in case they need to change location or expand their particular business.

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Commercial Property Leasing – Strategies for Agents Today

When it comes to the leasing of commercial property, you as the commercial real estate agent really do need to understand the trends of the local area.  It really does not matter if you sell, lease, or manage property as the main part of your job; you still need to understand how to lease a property and how that lease can improve the sale or the property performance.

The clients that you work with will expect you to bring significant local market knowledge to their needs and opportunities.  That local knowledge will also need to be very apparent in your sales pitch and presentation; you want the client to listen to you.

It is a fact that many agents are far too general when it comes to the initial presentation to the client of the available services and solutions for their property.  Being specific to the property helps the clients really understand the relevance that you bring to the property requirement.

Key Discipline

Leasing is one of those disciplines that will eventually create a property sale or a property management opportunity.  That being said, a commercial or retail leasing specialist should be suitably versatile to talk about sales opportunity and property management strategies as well.  One commission opportunity will turn into several over time.

For a commercial real estate agent to be of any relevance to the client that they serve, they will need to have a toolbox of strategies to implement for any particular client or their particular property.  Those strategies should not be generic, because the client is likely to be seeing a few agents before they make a selection on what agent should get their listing.

Here are some factors for commercial and retail property agents to optimize as part of their services and solutions for clients:

  1. Get to know the rentals in the local area as they apply to the different property types.  There are differences between gross and net rental when it comes to different property locations and property types.  In some leasing circumstances you may use a net rental strategy, whilst in others you may use a gross rental strategy.  Either of these choices will have impact on the rent review process that you negotiate for the particular lease.
  2. In any particular property market is very common to have a variety of incentives available to new tenants.  The size and type of that incentive will change from time to time based on the supply and demand of premises locally.  When there is little vacant space available for new tenants to occupy, it is likely that the incentive will diminish or even disappear.  That will only remain the case when demand for premises exceeds supply.  Over time you will see new property come into the market through fresh new property developments; the leasing leverage that each landlord creates in those circumstances will be that of an incentive.  As the local property expert, you need to know the incentives that are both available and sensible for any particular property that you could be leasing.  Compare those incentives to other properties nearby and in the general property market.  Offer the landlord some alternatives when it comes to those incentives and how they match the needs of that tenant enquiry that you know exists currently.
  3. When it comes to establishing a new lease, it is best to have some regard for the existing tenants in the current property and their proximity to the current vacancy.  What you want to do here is spread the risk of any vacancies occurring in adjacent premises.  In other words, you want to minimize the chance of multiple vacancies occurring at the end of lease terms at about the same time.  The only reason you would have any adjacent vacancies occurring would be in the circumstances where a renovation or relocation strategy was required for property improvement.
  4. The operating costs for the property (the outgoings) that appear in any lease negotiation should be acceptably similar to those which apply in competing properties.  If your property outgoings levels are too high, then it is likely that the vacancy will remain difficult to lease.  On this basis it pays to understand the levels and types of outgoings that are available and charged in competing properties in your area.  There is a large difference between the outgoings or operating costs charged for a retail property, and industrial property, and an office property.  Generally speaking the outgoings for a retail property are far higher than those that would apply to office property.  Similarly, an industrial property is at the bottom end of the outgoings scale in occupancy cost structure.

Get to know your local property market comprehensively and thoroughly.  Properties will come and go in the area from time to time, and some rental or lease transactions will occur.

Get to know the actual rents that are achieved from the particular lease deals as they are the rents that are acceptable to the enquiring parties in today’s market.  As part of this process, stay abreast of the future new property developments that are coming into your region and that could have an impact on the supply and demand process.

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Commercial Property Managers – Tips for Better Monthly Reports to Landlords

Many commercial property managers will understand just how important the monthly report is to the clients and landlords that they serve.  The information that goes out in the report must be accurate and detailed.

It is interesting to note that many monthly reports sent out to landlords are little more than a financial report from some computer based property management system.  Whilst that is just fine for a basic shed or industrial property, it will not suffice for office buildings or retail property.  When a property is more complex in operation or tenant mix, then you will need better reports and not just financials for the landlord to look through.  Explanation and information is required.

The other fairly common problem in the industry is that many month end reports from computer based software systems are assumed to be accurate and error free; that is a big problem and will let incorrect information reach the property owners.

Here are some of the major issues that should be reported on in the monthly report for a property management landlord.

  1. Income analysis should occur at month end to ensure that all provided income is accurate and expected. This will include the income received during the month from all the tenancies.  Any discrepancies will need to be explained and referred to the property budget.  The income commentary should also include details regards rent reviews and options that have an impact on the recovery of income.  In essence, you need to provide stability for the landlord in the recovery of income.  Any threats of vacancy need to be minimised.  Any opportunities to increase income should be identified.
  2. Expenditure details should be accurate and up to date. The expenditure activity in a property from month to month can vary significantly.  Whilst some expenditure will be planned and budgeted for, other expenditure will remain outside a budget and will require adjustments to cash flow for the landlord.  It is very important to monitor the larger items of expenditure throughout the year.  Some of those larger items will be timed to payment requirements such as rates and taxes.
  3. Arrears will always occur in a managed property from time to time.  It is really important to monitor the arrears in any property.  That will firstly be for the requirements of the income recovery and legal action.  There will however be secondary situations where the landlord is in agreement to stagger the recovery of arrears over a period of time from a particular tenant.  Whatever the situation is, the arrears need to be continually checked and monitored on a daily basis.  The landlord should be briefed for suitable action if arrears are unexpected and unexplained.
  4. Lease documentation changes and tenancy updates will occur throughout the year in any managed property or portfolio.  Issues such as a lease option, rent review, and lease expiry will always be management challenges for you to administer in a timely way.  The best way to do this is to adopt a forward looking calendar that looks to the next 12 months and any events that occur inside the timeframe.  In this way you can prepare for the process and any negotiations that are required.
  5. Vacancy reporting will always be important.  The reality of any property market is that vacancies will occur at any time and will require addressing.  It is wise to keep in close contact with tenants within the property.  Regular monthly meetings with the tenants will allow you to identify any upcoming vacancy challenges.  As part of that process is wise to have a tenant retention plan for each and every property that you manage.
  6. Maintenance matters within the property will be either planned or unplanned.  You should have a budget allowance for each, and monitor the repairs or replacements to plant and equipment in the property as required.
  7. Tenant mix changes will occur in any property and will become more complex subject to the number of tenants that you have in the portfolio and the age of the property.  For this reason you should be meeting with your tenants regularly to discuss occupancy needs, matters of expansion, contraction, and relocation.  The renovation and refurbishment requirements will also come into those discussions and strategies.
  8. Market updates will be valuable as part of the monthly report for landlords.  In reporting to the landlords, you can advise them of shifts in market rental, vacancy activity, incentives, and leasing enquiry.  Throughout the year there will always be changes to these factors in commercial and retail property.

So this list is not finite and complete.  It does however give you an idea of the complexity of a good monthly report for a moderate to large commercial or retail property.

I go back to the earlier point; there is no point in sending out just the property financials to property management landlords, given that there are many other things going on in the average commercial or retail property needing to be fully explained to the client.

It is the quality of the property management service that you provide that will justify your property management fee and ongoing reappointment as property managers.

If you want more tips on commercial or retail property management you can get them in our newsletter at this site.