Retail Leasing Manager

Job Description

Overview of the role

The Retail Leasing Manager is responsible for:

• Setting the tactics of the Leasing strategy on the Retail Portfolio that is aimed at ensuring the viability of the business and meeting overall objectives.
• Provide market information and competition updates 
• Managing the rental of retail units to ensure maximum occupancy and a premium level of rentals 
• Undertaking lease negotiations and meeting the approved milestones
• The accurate completion of information and paperwork for tenants. (Database, turnovers, etc.) 
• Consistently apply your experience and judgment to plan and accomplish goals and to sustain and expand market share.
• Effectively lead and direct the work of others, specifically your direct reports and supporting departments, outsourced consultants (Market Researches, Leasing Agents, etc.)
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What you will do

Planning

Prepares and implements leasing plans and strategies so as to exploit current market demands and generate future demand for the Retail Leasing business in order to achieve or exceed projected units and revenue targets.

Market Intelligence

Researches the market in terms of current demand, customer preference, types, size, and location of the properties. Where possible, obtains information on competitors’ pricing policy, and property specifications to revamp the company pricing policy, strategies, and tactics to effectively position the property against the competition and enhance market share. Liaises with external consultants for additional insights into the above information and for the formulation of the ERV schedule by an externally appointed consultant as required.

Targeting Prospective and Existing Customers

Oversees preparation of a target list of prospective tenants including high-end and flagship retail brands/customers, local and international, suitable for the type of properties available for leasing. Oversees preparation of schedules showing lease expiry profile on an annual basis. In the case of Retail tenants, prepares an exit strategy if the brand is not considered in line with the agreed Retail mix. 

Viewings and Presentations

Manages invitation of tenants to the presentation of drawings/site meetings in order to generate new interest and maintain the interest of existing tenants in the center and work towards deal closure to meet revenue targets.

Term Negotiation

Prepares proposals for new and renewal tenants at rates in line with budget/ERV for communicating to tenants in order to close new business and finalize renewal of existing lease contracts in a timely manner. Also negotiates and finalizes lease terms in line with prevailing SOPs, Budgets, DOA, and any other conditions required by the business.  

Arranging Legal Documentation

In liaison with the Lease Administration team ensures that all documentation is correctly prepared by Lease Administration in accordance with the SOP (LAF/LCA, Lease Contract, etc.) and is signed by the authorized person as per the DOA in order to avoid any litigation in future and to serve as a point of reference. Maintains awareness of local legal procedures and practices, ensuring that these are upheld and/or not contradicted in lease terms.

Asset/Property Management

Ensures that existing leases are renewed on time and that any changes in terms and conditions or rentals are correctly recorded and rental is collected on time and in full to avoid any loss of money or dispute with the tenants. Proactively manage the tenancy schedules of assets to regear the lease contracts to increase the valuation of DFC’s portfolio. Negotiate exit strategies for tenants regarded as no longer fitting the overall retail brand mix.

Financial Data Entry and Maintenance

YARDI: Checks that all lease contract information is accurately recorded by Leasing Administration in REFX and systems. 

Financial 

• Credit Control:
• Liaises with Credit Control Department on AR status, follows up with tenants for outstanding payments, finalizes statements of account, and preparation of payment plans. Prepares monthly statements of negative accruals and other accounting provisions

• Analysis and Reporting:

     Oversees preparation of progress reports on a weekly/monthly/annual basis as appropriate, on the current status of the business; comments on assessment of future    market trends and prospects and proposes measures and strategies to achieve or exceed the projected target.

• Budgeting: Evaluates historical performance, and market information on future market trends, to arrive at a rational budget projection both in terms of units and revenue so as to contribute effectively to meeting the company’s overall objectives set for the year. Prepares Retail budget based on the foregoing.

• Budget Review: Reviews the actual performance against the budget on a regular basis to ensure that projected units and revenue target are being achieved, in case of a shortfall examines the reasons and take corrective measures to bring it back on target.

• ERV Report: Prepares and maintains current ERV schedule by liaising with external consultants / Feasibility team as required to ensure accurate valuation of the property.

Skills

Required Skills to be Successful

Teamwork

Communication 

Leadership

About the Team

The Retail team is a group of highly motivated, collaborative, and fun professionals across Egypt, looking for a member to add to the department.

What equips you for the role

• Bachelor’s degree in Business administration, or any related field.
• Minimum 8 – 10 years experience in handling property leasing/portfolio management including lease negotiations and management with a reputable real estate company. 
• knowledge of the Leasing market and practices in the local market/international market.
• Familiar with a variety of the leasing field’s concepts, practices, and procedures along with the Brands awareness and categories