One size does not fit all. Re-Leased has a comprehensive platform designed for your specific business needs. Choose a solution to find out more.
The modern solution for property owners — family offices, investors, REITS and private landlords.
Leading trust accounting and commercial property management for third-party property managers.
Solving property management for those who own or occupy property as commercial tenants.
Designed to provide flexibility for property owners. Connect to your accounting platform of choice — Xero, Sage Intacct, NetSuite, QuickBooks and more.
Modern trust accounting purpose-built for third-party property managers and agencies.
Powerful access to our robust APIs to connect to your mission-critical business apps.
Congratulations to our winners
4 September 2024
At Re-Leased, we are excited to introduce our new Property Compliance Hub. Designed to simplify a complex and critical process, this hub ensures that compliance is managed effortlessly and accurately. Compliance errors can lead to significant financial and legal repercussions, and our goal is to make compliance management foolproof and effortless for our customers.
It may be an intimidating evolution to some, but PropTech is here to stay - so much so that Edward Wagoner, CIO for Digital at JLL states that “If you don’t take this seriously, in 5 years we won't take you seriously as you're not going to be around”. Adopting the right PropTech solutions can have incredible benefits for your business as the future becomes more digital for commercial real estate – yet many are put off by change.
UK Commercial Real Estate: A Shift Towards Longer Leases in 2024 The UK commercial real estate market is witnessing a shift towards longer lease agreements across various sectors. In this article, we delve into the key findings of the report, highlighting trends in office, retail, and industrial leasing. Average office lease lengths increase by 27% as tenants commit to longer terms 69% growth in 3-5 year office leases signals a preference for stability Retail lease lengths rebound, up 32% from 2023 Three-year steadiness in industrial lease durations reflects the resilience of the asset class
Transforming Commercial Property Management with AI In the ever-evolving landscape of commercial real estate, staying ahead of the curve is essential. Re-Leased, a pioneer in property management solutions, is taking a monumental leap forward with the introduction of Credia AI. This innovative platform is set to transform how property managers, tenants, and landlords operate, bringing unprecedented efficiency and intelligence to the industry.
By Phil Gale, Chief Information Security Officer, Re-Leased
Commercial real estate investors, developers and owners are embracing the move towards more efficient and eco-friendly commercial buildings, helped along by growing government mandates globally. Countries like the United Kingdom have been setting the pace when it comes to ESG-focused initiatives and now other countries are starting to follow suit. So how are commercial real estate companies approaching these initiatives?
Coworking is nothing new. In fact, the first ever coworking space was built way back in 2005 but it took a while before really gaining traction. Today, coworking has been deemed a priority for anyone who owns or manages an office building - and it’s making its way to the suburbs.
Since the pandemic, there has been a high demand for improving the quality of all indoor environments, including commercial properties. People are more conscious of the health risks that poor air quality imposes, which has forced commercial landlords to be more proactive in optimizing their buildings. If landlords want to charge premium leases, attract and retain tenants, they can’t sit back and ignore the new demands for the indoor environment.
In the brisk-paced world of commercial real estate, adaptation isn't just the key to success – it's the lifeline. Today, let's peel back the curtain on a silent but potent risk: the cost of maintaining the status quo in your property management systems.
Commercial real estate is facing more change now than in the last century, and it needs to start fighting back.
2023 is already seeing a fundamental shift in the Commercial Real Estate industry as disruptions to the market such as working from home, evolving workforces and ESG regulations become more polished and more accepted by the mainstream. All headwinds are blowing favourably in the direction of PropTech, and it is now time for businesses to embrace this inevitable evolution.
The most reliable way to grow a successful real estate business is to keep all of your properties in top condition and maintain a pool of happy and satisfied tenants. Whether you are an owner or investor managing your own buildings or you manage on behalf of owners, then versatile, user-friendly property management software in can save you time, cut costs, mitigate risk and help you grow your business in 2023.
In the last 12 to 24 months, there has been a significant labor shortage in commercial real estate, much like many other industries. Commercial leaders are finding it difficult to attract the talent they need while also ensuring they retain their best people. In light of this, the topic of people development has become a high priority for the industry.
The retail sector has been one of the hardest hit in CRE in recent years. First, there was the rise of eCommerce as customers flocked to online stores. Then, when a global pandemic forced shops to close their doors, many started to believe the days of physical retail may be numbered. But Rebeca Guzman Vidal never bought into that narrative. Rebeca is the Group Head of Retail Strategy at Chelsfield, a leading international real estate company focused on asset management, development and investment. She is also one of the retail sector’s leading voices and minds helping to shape the new era for the sector.
While the business of commercial and residential property management appears to have many similarities, they are fundamentally different and require a different approach to run successfully, from both a personnel and software perspective. All too often commercial property management is run with residential property personnel, and legacy software systems - a model that is increasingly agreed to be broken. As part of a recent webinar, we spoke with Wendy Thompson, owner of Wendy Who? a highly respected professional property consultancy, and Jason Luckhardt, National Manager of NAI Harcourts, the world’s largest network of owner-operated commercial brokerage firms, on why residential approaches don’t work for commercial properties. Watch the full webinar or read below for key takeaways: Why residential and commercial property managers are not made equal While it may seem like a simple transition, not every residential property manager is made for commercial real estate. And vice versa. At its core, the driving motivations between leasing residential and commercial assets are starkly different. “People don't have the necessity in life to have occupied commercial premises, it's a choice that they make, whereas people have a necessity of a roof over their head. So you start off with two very different bases in terms of property management. ” - Jason Luckhardt. These differing approaches then directly affect the service offering and landlord expectations associated with the role, which of course then flows through to the job description and ultimately the appropriate personality type of successful candidates. The role of a commercial property manager is extremely technical and complex, while a residential property manager is largely concerned with efficiencies around property maintenance and tenant satisfaction, From understanding legislative requirements in every region they work in, to managing tax, completing accurate lease administration, and ensuring all compliance is met by both tenant and landlord, the role is extremely business development focused. Being able to interpret macro and micro level reporting and offer timely advice to landlords is another part of the role and requires a person who thinks critically, and is extremely efficient. Given the difficulty of the role, and the vastness of the responsibilities that fall under it, a key component to the long-term success of the property manager, and therefore the business as a whole, is the need for appropriate available software. The importance of fit-for-purpose commercial real estate software “It's so critical to have good systems to be able to help you manage and simplify complexities so that you can focus on the landlord’s investment and maximizing the income to the agency.” - Wendy Thompson. When it comes to commercial real estate management, good reporting is imperative. Whereas a residential property is bricks and mortar and contains one type of tenant, commercial properties can be much more complicated. A multi-level property may have stacking plans, different business usages, car parking - and unique utilities. In a property such as this the landlord will want to see a detailed breakdown of expenses, track the vacancies, negotiate leases and identify the efficiencies in order to be able to derisk their investment and maximise the value of the asset for the owner. This requires both a level of macro and micro reporting that residential software simply cannot supply. "You need a system that allows you to put data in and analyze it locally to look for efficiencies. That's really where you're going to win business” - Jason Luckhardt The complex nature of the amount of information required to manage a commercial property portfolio effectively is not only a brain tangle but hugely time-consuming. Having a software system in place that is fit for purpose also greatly reduces the amount of admin time property managers spend inputting information and double-checking data. A good software system will automate everyday reminders and critical events, ensuring you are reminded of upcoming activities so that you don’t miss a beat, which in turn frees up time to get on with building your business. “Having a software program that makes it simpler for you at the end of the day is so important.” - Jason Luckhardt Of course, there are many services that are the same in managing residential and commercial properties, and this is why so many businesses persist in using legacy residential software with a few workarounds. But given the many unique challenges that commercial property managers face, this model is the business equivalent of fitting a square peg into a round hole. Check out our latest FREE guide on the ins and outs of making the transition from Residential to Commercial Property Manager and our expert tips like the ones above.
Great branding isn’t the first thing that springs to mind when you think of commercial real estate. For decades, the extent of a ‘brand’ would be a company name (typically a last name or multiple last names) and a bit of colour. But building a memorable brand not only helps you stand out from the (slightly outdated) crowd, it also has a tangible impact on your business.
The customer or tenant experience has been a major talking point across all sectors of commercial real estate recently. As tenants look to move away from 20-year leases to shorter agreements, the onus is on landlords and owners to deliver a service that will keep tenants in their buildings. It’s a trend that has already become popular in the office sector, but Industrials REIT is bringing that focus to the industrial space and finding great success.
Commercial properties are more than just bricks and mortar, they are lucrative business assets, assets which must always be profitable. To try and guarantee this, commercial landlords have two important goals: to maximise rental income and to safeguard against potential losses.
A lot of property managers and landlords use spreadsheets for a variety of needs. They’re a tried and tested way of storing and organising information, and when used with clever formulas and calculations, they are handy assets that add value to an organisation. But even with the ability to leverage off formulas, spreadsheets still require a lot of manual legwork in having to physically update data to keep information up to date. And this creates more headaches for property management teams.
Before a property is purchased, it is a common industry practice to conduct a thorough due diligence. The same goes for hiring a new team member. Whether it is a market or financial analysis, a series of interviews, tests or background checks, the real estate industry checks, checks, and double-checks.
For most Commercial Property Managers (CPMs), dealing with the far-reaching consequences of COVID-19 is new territory with many being overwhelmed by the daily influx of tenants requesting assistance. Approaching landlords with these requests, documenting and adapting property management systems and processes to make adjustments – while simultaneously maintaining vital communications with all parties – is a huge challenge. So, how do we meet it?
When it comes to determining the value of your commercial property, one of the most important variables to consider is how much the tenant is willing to pay.
Leasing out commercial spaces brings its own set of unique challenges. To get the most yield out of a commercial property portfolio, landlords need to make sure they have a strategy in place to maximise returns.
Outgoings is a general, industry term used to describe the recovery of money spent from the tenant for expenses that are associated with the day-to-day running (and maintenance) of a commercial property during the term of its lease. Or in other phrasing, outgoings are otherwise referred to as operating expenses – that is ultimately what it costs the landlord to occupy the building.
The WALE (or weighted average lease expiry) is the way to measure the average time period that all leases in a property will expire. It is a crucial metric used in the commercial real estate industry, particularly in property management and investment analysis.
Being aware of how your company is performing is vital for property management. The fragmented nature of the industry means that landlords and property managers cannot afford to let go of the reins.
By moving away from the old way, property managers are greatly reducing risk.
You have just bought a multi-tenanted commercial property. What are some key metrics to calculate to measure the performance of your portfolio?
