Are Your Lease Clauses Costing You $75K/Year? | Episode 66: I Own a Shopping Center, Now What?
Description
Struggling to lease your retail space in a multifamily project? You might be making this common mistake.
In Episode 65 of I Own a Shopping Center. Now What?, I share a recent conversation I had with some multifamily investors who were venturing into retail for the first time. Leasing retail—especially on the ground floor of high-rise projects—is a whole different animal, and getting it right starts with hiring the right third-party team.
I walk you through exactly how I advised them: how many firms to interview, what expectations to put in writing, and why it's critical to know the market even better than the broker you hire. I also break down why it’s okay—and necessary—to fire leasing agents who aren’t performing. If you’re going to delegate, you still have to manage smartly.
🔑 Key Takeaways
Understand the default and remedy clauses in your leases
Evaluate tenant term lengths and credit strength
Confirm restrictions through in-person intel
Weigh the upside of breaking outdated lease clauses
Know your waiver options—some clauses are flexible
Old leases aren’t always built for modern tenants
Strategic defaults require informed decision-making
Invite a woman to my summit—let’s grow this community!
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