JOB PURPOSE:In this position, you are responsible for:?
Implementing the Retail Leasing strategy that is aimed at ensuring the viability of the business and meeting overall objectives.
The rental of Retail units to ensure maximum occupancy at all times and high renewal rates.
Coordinating fit-outs, lease negotiations, renewals and re-gears.??
The accurate completion of paperwork of current and prospective tenants.
?You will also ensure that you:?
Are familiar with a variety of the leasing fields concepts, practices, and procedures.
Consistently apply your extensive experience and judgement to plan and accomplish goals and to sustain and expand market share.
Effectively lead and direct the work of others, specifically your team members and supporting departments.
?KEY ACCOUNTABILITIES:Planning:?Prepares and implements renewal leasing plans and tactics to support the overall Leasing strategy.???Advises Leasing Team of upcoming vacancies due to non-renewal of existing tenants.Market Intelligence:?Researches market in terms of current demand, customer preference, types, size, and location of the properties.?Where possible, obtains information on competitors pricing policy, 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 formulation of ERV schedule by externally appointed consultant on six monthly basis.Targeting Existing Customers:?Prepares schedules showing lease expiry profile on annual basis.?Prepares proposals at rates in line with budget/ERV for communicating to tenant in order to ensure renewal of lease contract in timely manner.?In case of Retail tenants, prepares exit strategy if brand is not considered in line with agreed Retail mix.?Term Negotiation:??Negotiates and finalises lease terms in line with prevailing SOP?s, Budgets, DOA?s and any other conditions required by the businessLegal:Arranging Documentation:?Ensures that all documentation is correctly prepared 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 the lease agreements are renewed in time and changes in terms and condition of rentals are correctly recorded and the rental is collected in time and in full so as to avoid any loss of money or dispute with the tenant.Financial Data Entry and MaintenanceSAP:?Ensures all lease contract information is accurately recorded in REFX system, including all new leases, amendments, terminations, etc. across AFGRE portfolio (Residential, Commercial and Retail).?Liaise with Finance and STS departments to ensure information accurate, complete and correctly formatted in order to generate meaningful reports from the SAP system.Ejari:??Ensures all lease contracts (Residential, Commercial and Retail) are registered with Ejari system, complying with all current and future RERA requirements.FinancialCredit Control:?Liaises with Credit Control Department on AR status, follows up with tenants for outstanding payments, finalising statements of account and preparation of payment plans.PrAnalysis and Reporting:Progress Reports:?Prepares progress reports on weekly/monthly/annual basis as appropriate, on the current status of the business; comments on assessment of future market trends and prospects and propose 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 in meeting company?s overall objectives set for the year.?Prepares Retail budget based on foregoing.Budget Review:?Reviews the actual performance against budget on regular basis to ensure that projected units and revenue target are being achieved, in case of a short fall examines the reasons and take corrective measures to bring it back on target.
