Managing Landlord Changes in Retail Property Leases

In this episode of 'That Retail Property Guy', host Gary Marshall discusses the complexities involved when a landlord changes or assigns a new managing agent, focusing on the impact on retail tenants. Gary explains the roles of landlords, managing agents and tenants in managing lease-based costs such as rent and service charges. He stresses the importance of diligence in verifying and reconciling billing details, especially during transitions. The episode covers the steps and checks necessary to ensure that payments are accurately directed, spotlighting the collaboration needed between estates and accounts teams to prevent errors and fraud. It underscores the necessity for tenants to stay vigilant to safeguard their financial interests in such transitions.

00:00 Introduction to the Venn Overlap of Retail Property Management

00:20 Understanding Landlord and Tenant Relationships

00:34 Common Billing and Payment Issues

02:16 Handling Changes in Landlord or Managing Agent

04:42 Ensuring Accurate and Secure Payments

05:46 Effective Communication and Due Diligence

07:33 Collaborative Efforts Between Estates and Accounts

08:48 Final Checks, Thoughts and Recommendations

20:25 Conclusion and Next Steps

Further listening:
Retail Landlords - Villains or Visionaries?
Landlord & Tenant Act 1954 - Superhero in Security of Tenure

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