22 Jun The Difference Between A Landlord And A Tenant
The single biggest difference between a landlord and a tenant is that the landlord always gives themselves options when dealing with a retail tenancy.
What I mean by that is that they will be negotiating with a number of retailers on the one site.
Generally, retailers will get fixated on the one site. Whether it’s a new store for them or an existing store they are looking to renew. Retailers often don’t understand that if they are looking to build a 100 store chain they actually don’t need to be in any one store. They need 100 profitable stores.
So the trick is to give yourself options. Don’t get emotionally attached to any one site. That’s why third parties are so obviously much easier to do for third parties like leasing executives that act on behalf of landlords or client managers who act on behalf of retailers.
Vaughn McGuinness is our leader of the Property Team and has over 25 years’ of expertise in property strategy and delivery. He was the General Manager of Leasing at Stockland and has held senior positions with Westfield, Jones Lang Wooton and Bailieu Knight Frank. He personally advises clients such as Harvey World Travel, Adidas, Bupa, Dental Corporation and Sigma Pharmacies. Vaughn manages clients across Australia, New Zealand and the USA.