The retail market is constantly at a flux, changing to suit the world’s needs. Property managers are earning a fair amount in retail assets. Successful retail tenants make successful retail properties. Every aspect of the property counts; the location, the costs, and the lease contract. The duties and responsibilities attached to retail property management involve all aspects of day-to-day operations of the property, including accounting, tenant relations, maintenance and repair.
The Property Manager assists in the preparation of the annual budget, monthly reporting and financial performance of the property. A retail property manager is the main contact person who takes care of all the important details required to run a commercial building. Cushman and Wakefield are an example of a retail property management. They offer hands-on experience to the clients. By promoting collaboration between owners, occupiers, stakeholders and customers, retail property performance significantly improves in terms of income and capital value and changing market conditions. Offering consulting and advisory, leasing and transaction service, they have taken Australia by storm.
As part of the retail property management scheme, leasing agents play a significant role in driving revenues for the company. As opposed to sales tenants, leasing agents perform more legwork as leases tend to become broken, expired, and need to be signed frequently. Hence, the job does not end once the property has been sold. To be successful within the extremely competitive leasing market, it is important to know which companies are in the market for new space, which leases are reaching their expiration date, and which buildings will attract the most buyers depending on the space and cost. The retail leasing agent must know full well what his or her buyer is willing to negotiate; the extent to which a concession can be made that would benefit the real estate agent and the buyer. Australia’s leading retail leasing services include JLL. They aim to deliver value, creativity, integrity, and market knowledge to bring a complete deal to the table. Their teams connect across the firm with exceptional market strategies, market-leading research, innovative digital solutions to drive leasing and tenancy opportunities. The services this agency includes are;
Specialists provide economic analysis, property market research, financial analysis, demographic analysis and forecasting services.
Property and Asset Management
The innovative and rigorous commercial property management strategies maximize income
Timely and informed research and analysis that helps you understand market trends, identify opportunities, test new ideas and challenge conventional thinking.
Source: Dr Andrew Unterweger