It is important for you to understand the client and keep track of your needs and requirements on this farm and on the mall's real estate market. Rents and leases must be protected from the effects of the economy. Large retail properties are not just happening, they are shaped and are based on plans.
Strengthening the performance of the mall and making the lease base optimized for visiting customers and spending. If the rent is justified by the good commercial real estate level, you must be a happy tenant. This is the basic focus that every landlord, mall leader and leasing manager must strive for. Win the balance of rent and sales.
Economics and Retail Real Estate
Since the economy is under pressure, this has a real impact on the sales levels that some promises can achieve and some properties can create. In this market, the mix of tenants and the stability of the shopping center becomes more important than ever.
This optimization always comes with the customer in all respects. Farmers and shopping center managers must always be cautious in the current economy to boost the performance of properties. Placement of careful rental housing and customer interpretation are part of this process.
Today, without the customers of retail real estate, nothing will work, no matter what the new and modern properties are. This is the experience and service that a real estate creates, which returns customers. Real estate experience must be the same or better than anyone else in the area. For this you need to know what your property is trying to do and who you want to serve.
Negatives that customers perceive or identify are minimized. Customers visiting the mall will "feel comfortable" with the experience. He wants you to come back often. Good factors can be felt & # 39; a property can be a lot of things, including:
1. Parking Use
2. Security and Protection
4. Access is easy
5. Public Transport
6. Tenant mix offer
7. Presentation of Rents
8. Common Space Services and Facilities
9. Points of interest
10. Entrances and Gateways
11. Demographic data for the customer base
12. Special social areas and food courts to extend the visit.
13th Entertainment facilities.
Regular organization of customer interviews is a solid and secure strategy to keep customer needs and demographic know-how. Quarterly customer surveys conducted by the professional survey company, on different days of the week, seize the customer's mood. The results of the surveys can be integrated into the real estate business plan and budget. The regularity of the survey process is important to identify changes that affect ownership.
In this market, landlords and managers of shopping malls must be sensitive to any negative feedback that is the same among customer surveys. Find common complaints and comments that your customers are giving you and quickly change your property to minimize rental and sales impact.
Retail property performance can be easily influenced by nearby similar properties and competitive properties nearby. This means that the new development activity in the district has to be monitored. You can do this by contacting local planning officers and local government offices.
This also means that existing competitive properties need to be monitored for their success and service in the same market. Discretion is the name of the game when you visit and evaluate competitive properties as a sensitive subject of properties. However, visit competing features regularly and at different times of the week.
The vacancy factors for competing property may have an impact on the property, especially if this other property offers attractive incentives for new tenants. In this retail real estate market, the incentives are very active and affect the thinking of any prospective tenant. The reality of the incentives, however, is that they are not free. Some tenants understand this fact.
Any inactive material must be returned to the lease (or refunded) so the relative tenant will pay during the rental period. Sometimes tenants simply see the incentive offer, not the return.
If you compete with another mall with more attractive incentives, your negotiation strategy is part of the lease agreement and the incentive offer may include the renter's reminder of how and why the incentives are recovered. To justify this, the tenant has the opportunity to analyze the lease NPV (Net Present Value) during the lease period and then compare it with the other property. The value of the lease is more important over the period than the initial rental incentive. NPV analysis helps to prove; the numbers talk about the negotiations.
To keep on the mood of our customers, we need to carefully formulate your interview process. Some of the questions below are worth adding a questionnaire that the marketing survey company will use.
Any real estate survey you undertake covers the following areas:
- Visitor who? Learn what stores your customers and why. Stores with a relatively low sales volume actually attract customers to the malls and thus contribute to the success of the property. It is not so much the volume of sales but the profitability and rents. When sales are made, the main goal is achieved.
- Sales figures Service leases that do not represent sales data by the management of the center (such as banks, professional services, and public institutions) often call a large number of customers. This is useful to you. Care should be taken to see where the tenants are located in your property. By themselves, service tenants create a pedestrian traffic path from which the special rental housing set can be optimized and placed. Service Tenants Unfortunately, they generally do not pay the same raised rents that a specialist retailer can get. For this reason, we must carefully consider and balance the location and number of tenants in the property. Normally you would not sell the best real estate listings for a type of service. They are dragging on the retail environment they are trying to create, and they can start selling their large retail properties to an "office block". Sometimes this means lower rental rates.
- Regularity of Visits How often do customers visit your property and what days? It has been proven that more than half of the shopping centers' customers visit at least once a week. In such cases, it is possible to increase a wide range of retail goods and services on the property. It's a tenacies like fruits and vegetables, bakery, news agency, chemist, supermarket, and special butcher. When assigning such rental contracts, the & # 39; so that each rents complement each other and sell each other and each other. It is interesting to note that the rationalization of rents today is a priority in renting affiliation. Customers do not like extreme distances between real estate to simply complete their shopping. This means that you have to be close to each other as you like ten. This strategy creates the sales volume required by the shopping center. If the client has been left out of rents in the long run, they will soon submit a new offer to spend more money.
- Time and money? It's important to understand how much time the client will spend on the property on average and every visit. Keep in mind that there is a significant difference between men and women in this regard. The male buyer usually goes to the property for a small amount of goods, browses and then leaves quickly. A female purchaser usually charges for buying more goods and catching up with friends. The average female shopping center customer is ca. It takes about two and a half hours. If you find the average visit much shorter, consider adding elements to confirm your overall shopping experience. This can include physical comfort, entertainment, and restaurant or fast food enthusiasts. The demographic data of the local area surrounding the residential area tells what people want. Be sensitive to the special case studies you own, such as tourism, motorway or motorways. Both dictate the shift in the rental composition to serve this particular client type and why you visited your property.
- Popular stores? Learn how much and what's store your customers every time. Keep in mind that this may change in some days of the week, as the payday and pensioner's payday changes the shopping pattern on the day that week.
- One-time visit? Many customers only enter two or three stores for a single shopping center. In such cases, consider accommodating larger tenants or concessions that may be more effective than the larger number of smaller tenants for the sales you need and the tenants need.
- Spending Pattern? It is to be classified in the category of expenditure for each type of rental. You also need to know that people spend on average and what categories. In many real estate situations, monthly data is collected every month to compile the confidentiality of the landlord and / or landlord. This allows you to monitor the performance of your properties and make decisions when the retail shopping segment does not perform or go beyond.
- Are the sexes in spending? Females continue to be the majority of shopping malls, but men between the ages of 25 and 44 often spend more on visits per visit. If this is not your case, a remercing program can focus on increasing the accumulation area for men, sports goods, electronics, and other men-oriented categories.
- Special customer groups? Key customer groups that need to be sensitive to expenditure are older people and children with significant spending potential, but choosing the current tenant may not be well served. Always concentrate your identified shopping groups on the property to sell neighboring rents. For example, concentrate your shopping segments for groups such as male buyers, female buyers, children, entertainment, tourism, leisure and food. This helps to create a greater lifetime in the property. This can only mean more sales.
Ask the fixes!
The future of your property is perhaps more important than today's affair. In an efficient buyer survey of retail properties, you should ask what specific buyers of stores and stores can buy if they have been added to the property and what improvements can increase their shopping experience. You can also make detailed inquiries about market information in informal focus groups.
Shopping centers are ripe, demographic and shopping habits change, shopping center managers and leasing professionals respond with remercing and expansion programs that are better at serving their markets. With creative sales of historical sales, current distribution and customer surveys, owners and managers can increase the efficiency of their leasing strategies.
Source by sbobet