5 Shopping Center Management Tips Every Owner Should Know | EP 97: I Own A Shopping Center, Now What

What are the most important things you should focus on when owning and operating a shopping center?As I get closer to Episode 100 of I Own A Shopping Center. Now What?, I’m counting down my Top 20 tips for shopping center owners. In Part 1, I’m starting with five areas that directly impact tenant performance, property operations, leasing, and ultimately the value of your asset.From collecting tenant sales and staying on top of rent to keeping your property clean, well-lit, and properly leased, these are the fundamentals I pay attention to across my own shopping centers.I also share why tenant sales reporting gives you an early look at business performance, how being too lenient with delinquent tenants can actually contribute to vacancy, and why your leasing agent needs enough time to learn your property before you judge their performance.KEY TAKEAWAYS- Require sales reporting from local and regional tenants whenever possible.- Use tenant sales to identify problems and opportunities early.- Stay disciplined with rent collection and enforce late fees.- Don’t let relaxed collection practices turn delinquency into vacancy.- Keep your shopping center and vacant spaces clean and presentable.- Prioritize lighting throughout the property to improve safety and visibility.- Give a new third-party leasing agent time to understand your asset and market.- Require activity reports so you know whether your leasing agent is actually prospecting.- If leasing stalls, evaluate the rent, positioning, marketing, and condition of the space.- Support good leasing agents with the tools they need to get deals done.This is Part 1 of my four-part series covering the Top 20 things I believe every shopping center owner should know.If you own, operate, manage, or lease shopping centers, subscribe so you don’t miss the rest of the countdown to Episode 100.BECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor