If you manage a shopping center efficiently, your spending and operating costs must be carefully monitored. There is a lot of pressure on this real estate market as a part of the real estate management process, and spending is always a cause for serious concern. It is very difficult to rent vacant premises for new tenants if spending is excessive in their type. The lessee will still receive a lower net income if that is the case.
Most importantly, the Shopping Center faces financial standards that are at least the same or better than any other competitive features of a similar nature and size. The standards must include key financial criteria such as:
- Repair and Maintenance Costs
- Basic Maintenance Services
- Income Generation
- Free Workplace Factor
- ] Sales MAT (Average Average Traffic
- Sellers by Retailer
- Number of Sales Size
- Customer Visits to Property
- Council Charges and Other Legal Costs
These figures are to be handled and understood in the Financial Performance Plan of the Shopping Center . To achieve this, it's not uncommon for the Shopping Center to share some information and averages as part of a market research on financial performance. If you can not compare your property with something else, you will not know where the header is and how it works.
It should be said that in recent years your property history will always be useful as benchmark for real estate performance plan. As part of this historical analysis, you can share the distribution between controllable elements and uncontrollable elements and then track your progress according to income codes or types.
The uncontrollable elements are those that apply to the property and have to be paid. Typically, these consultants, water fees and land tax. Escalations in these batches are due to the uncontrolled policies and qualification processes of local councils. Generally, their bases and fees are based on the value of the property. It is not uncommon for councils to evaluate local property every two years. The retail center managers know the high value of supervision and dispute the value of the property when it arrives. You can get overheads and interest and tax payments if you get real value.
Co-operation between managers is therefore frequent and productive, as work and industry are just as special. Unqualified and ordinary real estate owners have little chance of improving and specializing without having gained experience from other proven Commercial Center executives in this part of the real estate industry.
Source by sbobet