A shopping centre manager is a lot different than your ordinary commercial property manager. They must have a good degree of marketing skill behind them together with excellent communication skills.
If you run a real estate agency and are to be moving into retail property management then you should carefully consider your staffing strategy before you get started. It is quite likely that your existing property managers will not be ideal working in or on the retail property. The skill mix is different and not commonly available in your average real estate person.
A great manager for retail property is hard to find and are a special type of person. Here is why:
- A shopping centre is a vibrant property investment type that integrates to the community and customer. Marketing the property within that focus is an ongoing task for the centre manager. Neglect it at your peril as a property that is not aligned to the community will decline faster than you think.
- Tenants in a shopping centre are much more focused on property usage and function than tenants in office or industrial property. The reason being that the tenancy they occupy is likely to be their business and livelihood. Communication with tenants in a shopping centre is a daily event and is a critical part of the centre manager’s job.
Both of these elements of action are very high in the activities of a manager. It is not unusual for a the person to spend the start of every day or a large part of the morning moving around the property and talking with the tenants.
Tenants have to see the retail property manager frequently and relate to them well. In only this way can the manager keep on top of lease issues and tenant volatility. In retail property these factors are higher and more volatile than in any other property category. 레플리카 시계
It is not unusual for a retail manager to have a team of people around them to support on other specialised tasks such as leasing, accounting, maintenance, tenant services, customer communication, and community contact. It is best to locate these people on site so that response and action are easily implemented. Ultimately the retail manager is responsible for all staff and the property performance overall.
It is the retail manager that will ultimately analyse and sign off on the completed:
- Building budget
- Income performance
- Expenditure activity
- Maintenance report
- Arrears recovery strategy
- Risk management
- Energy management
- Essential services function within the property
- Common area usage
- Customer visitation figures to the centre
- Turnover figures from tenants
- Capital expenditure plans and report
- Lease deals and negotiations with new tenants
- Tenant Mix strategy and implementation
- Lease renewals and changes with sitting tenants
- Renovation and refurbishment plans
- Community marketing plan
- Shopping Centre marketing plan