When you look at the property market today and the performance of the typical retail shopping centre, the tenant mix and tenant profile in the property is fundamentally important to the income generated in the property. A good tenant mix will bring you:
More customers to the property
Better sales per customer
Repeat visits to the property
A bond between the anchor tenant trade and the specialties
Stronger market rental capability in the property
Lower vacancy factors
So it is very important to find the right tenant to suit the property and the plans of the landlord.
This is what you should look for in a retail property tenant today:
A tenant that can show success in other locations
A good rental payment history
Quality products and services that suit the local customer and demographic for your property
Quality fitout fittings and displays that the landlord can approve prior to occupancy approval in the shopping centre.
Quality fitout design and signage that complements the property and the tenancy mix
The size and location of the tenancy to capture the passing foot traffic through the shopping centre.
A guarantee or bond that protects the landlord against any situation of default under the existing lease
A legal entity that can be responsible for payment of rental and that gives the landlord some form of surety of income payments over the term of the lease.
This list can be increased subject to the requirements of the landlord and the particular property operations.
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