Managing a diverse property portfolio can present significant challenges, especially when the properties are geographically scattered and occupied by multiple tenants. A leading global retailer in the consumer staples sector with hundreds of properties in NSW found this out the hard way. Their staff were getting side-tracked from their core roles due to the excessive time spent managing the needs of numerous retail and commercial tenants.
After an exhaustive effort supporting their tenants throughout the COVID pandemic, they approached us for assistance. Ray White Commercial (SC) was among five groups invited to submit a proposal. The selection process was rigorous, involving written proposals, multiple meetings, and a demonstration of expertise in various technical areas. We were ultimately chosen for our collaborative approach, technical knowledge, comprehensive portfolio reporting capability, commitment to diversity, and crucially, our affiliation with the expansive Ray White Network.
Our team promptly set to work, introducing a range of strategies to improve the portfolio. We transitioned certain properties from gross to semi-gross or net leases where it would enhance our client’s overall return. We refined lease clauses to enhance management efficiency and decrease operational risk. We implemented our tailored tenant engagement plan to foster relationships for retention. We introduced our self-service technology suite, giving both our client and tenants 24/7 access to their information. We also began our comprehensive portfolio reporting to provide easy-to-understand critical information and trending across the portfolio.
Within just six months of management, we were able to increase the overall net effective income by 23%. We significantly reduced operational risks through changes to lease terms and monitoring by our automated systems. Our initiatives fostered strong relationships with tenants, improving retention rates. In doing so, we allowed our client’s staff to return to their core jobs and became a trusted partner to their business.
This case study highlights the impact that expert property management can have on a portfolio’s performance. If you’re interested in exploring how our services could provide similar benefits to your portfolio, please contact Samuel Hadgelias for a no-obligation consultation or strategic portfolio review.
Background: For years, a building managed by another agency struggled with vacancies. Four shops sat empty for over three years, and one for more than five years. The previous efforts to fill these spaces had fallen short, leaving the building underutilised and impacting its revenue. Our Approach: When we took … Read more
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