Lease management strategies are a critical component of the job and role of Commercial and Retail Property Managers.
If the leases are not well managed for the landlords that we act for, long term problems can arise in the performance of the property and the stability of the rental income.
Ultimately the tenancy mix is impacted.
The process of lease management involves a number of issues; here are some of the main one's for you to consider:

1. The monitoring of the current rental payments applicable to each tenant within the tenancy mix is to apply as part of lease management.
   Understand the upcoming rent reviews, lease options, current lease negotiations, and tenant obligations under the lease documentation.
   A commercial or retail property lease is built around cash flow control and tenant occupancy.
   These factors involve critical dates where things must be enforced or should be occurring.
   Is up to the property manager to understand these dates within each lease.
   
2. The enforcement of the terms and conditions as they apply to each individual lease should be tracked through some suitable tenancy schedule software program.
   This says and acknowledges that each lease can be a different than others in the same property.
   The property manager needs to understand these differences intimately, and be prepared to enforce the terms and conditions in a timely way.
   A tenancy schedule will help with this and conveniently display lease dates and required actions providing the property manager has loaded the base information at the start of occupancy.
   
3. In every property market, there will be pressures of supply and demand that have impact on the market rental and the vacancy factors surrounding the property.
   Keeping abreast with these factors will allow sensible lease management procedures and negotiations to occur with existing and new tenants.
   
4. It is not uncommon to find some leases with special terms and conditions that apply to the tenant during lease occupancy.
   Typically they are matters of insurance, refurbishment, renovation, and make good.
   There can however be many other issues hidden in the lease document that require identification and enforcement.
   It is the property manager's role to work with these matters and ensure that they are correctly enforced and tracked.
   Critical dates are part of the process.
   
5. Meet with your tenants regularly to understand any pressures or changes that they are seeking.
   In tougher property markets, this allows you to work with the tenants more closely and avoid tenant business and income instability for the landlord.
   In many cases it is more productive to work through tenancy challenges than to create a vacancy in a market where excessive vacancies exist.
   

There is a significant difference between the skills required of a Commercial or Retail Property Manager, and that of a Residential Property Manager today.
Commercial and Retail Property is complex and requires understanding and diligence, so the significant cash flows within the tenancy mix are not impacted or reduced over the lease terms.