Retail Shopping Centre Tenant Move in Procedures
When you lease and manage a retail shopping centre you will have tenants moving in and out of the property on a regular basis. For that reason it is very beneficial to have a checklist to control the tenant move in procedure.
Here are some ideas to help the process of moving a retail tenant into a property under a new lease.
The existing premises should be clean and tidy to the level of presentation that is expected by the new tenant. That will also be in keeping with the lease documentation terms and conditions that they should have already signed.
Lease documentation should be fully and legally signed, and checked to be so by the landlord’s solicitor.
The landlord should have signed the lease after the tenant. This is quite important as failure for the landlord to sign the lease leaves open the opportunity for dispute and debate.
Deposit monies should have been paid in accordance with the lease documentation and the cheque cleared at bank.
Bank guarantees, bonds, and or personal guarantees in accordance with the lease should have been provided in an accurate and legal way. These should also be checked by the landlord’s solicitor for validity and accuracy prior to the tenant moving in to the property.
The first payment of rent should have been made and paid to the landlord in accordance with the lease.
Tenant fitout plans and drawings should be submitted to the landlord for approval before any plans are submitted to the building approval authority for approval.
Any disclosures or supplementary occupancy documentation that supports the leasing process should have been correctly served. These documents are quite common with (but not limited to) retail property in many locations. If local property and lease legislation says that these supplementary disclosures must have been correctly served then check that this is the case.
Take an inventory of the existing premises before the tenant moves into the property. This inventory should be detailed and supported by photographic record of the condition of the premises.
Do not make available any incentives from the lease arrangement until the tenant documentation is confirmed by the landlord’s solicitor as correctly signed and enforceable.
Keys and access to the premises must not occur until the tenant has satisfied the lease documentation legally and correctly. Get the keys signed for in the handover process.
Security of the premises should be explained to the tenant so they comply accordingly.
Walk through the tenancy with the tenant prior to giving over the keys to the premises. This is to ensure that that all matters relating to the premises are as they would expect. Take notes of the findings.
Take photos of the premises with the tenant present, for record and later evidence to use in the case of any dispute.
Access detail to the building for the moving in of tenant equipment should be provided and rules set accordingly. You do not want the tenant to disrupt other tenants in the building as the new tenancy prepares to open.
Signage designs and placements should be approved with the landlord in accordance with planning regulations and building rules.
If any tenant fitout works are to occur, then set rules regards access to the premises, noise, storage of building materials, and construction works on site.
Given your particular property and the elements of design, layout, and function, there can be other requirements that you should apply to this list. The process of control is essential to the successful tenant integration to the property.