This is the rental program for renting retail space.
Principal retail challenges include:
- Tracking retail tenants’ percentage rents and sales data — a process complicated by different rates on different products, tiered breakpoints and differing sales levels
- Calculating a retail center’s common-area maintenance (CAM) expenses, a complex and difficult accounting matrix featuring multiple unique rental deals and special dispensations for star tenants
- Managing utility billing, wherein a landlord must track the actual or pro-rata consumption of differing retailers with different power draws in a real-time environment
- Uniting deal-management elements within the same operational platform, a scenario which until recently saw little or no interaction between the sales department and the operational group that enforces the lease