Tenant categories and exclusivity
Give each commercial lease a tenant category, such as pharmacy or food court, and the categories it was promised as exclusive. A new lease that would break a promise in the same property is refused when you confirm it.
PLANSScale only
The problem it solves
- A mall promises the pharmacy it will be the only one, and two years later a new agent lets the next unit to another.
- Exclusivity clauses live in signed PDFs that nobody reads before a new letting.
- You cannot see the tenant mix of a property by category.
How it works
- Set up your categories in Lease > Configuration > Properties and Leasing > Tenant Categories: Fashion, Food court, Pharmacy, Anchor, Offices.
- On a commercial lease, pick its Tenant Category and, under Exclusive For, the categories you promised it.
- When a new lease in the same property is confirmed, SmartMy Lease looks at the confirmed and running leases there.
- If its category is exclusive to another lease, confirming is refused and names that lease.
- If it asks for exclusivity in a category another tenant already trades in, confirming is refused too.
- Group leases by tenant category to see the mix of each property.
Everything it does
Categories
- Name (in each language you use), active; shared by your Entities
- Examples: Fashion, Food and drink, Anchor, Offices, Pharmacy
On the lease
- Tenant Category; Exclusive For (several categories)
The check
- Runs when a lease is confirmed, against confirmed and running leases of the same property
- Two checks: the new category is not exclusive to another lease, and the exclusivity asked for does not clash with a tenant already trading
- Ended leases no longer hold their exclusivity
Who uses it
Leasing managerSets categories and exclusivity on commercial leases.
Lease ManagerKeeps the category list.
Mall or asset managerReads the tenant mix by category.
Where you use it
- Web: the lease form; Lease > Configuration > Properties and Leasing > Tenant Categories
- Not in the apps
What you control
Settings
- Tenant categories: your own list, none to start with
Questions
When is exclusivity checked?
When a lease is confirmed. A draft lease can be prepared, but it cannot be confirmed while it breaks a promise in the same property.Does exclusivity cover the whole mall or one building?
One property. Leases in other properties are not checked against it.Does it work for offices too?
Yes. Any lease with a tenant category is checked, so a business centre can keep, for example, one bank branch in a building.Is the exclusivity shown to the tenant?
No. Categories and exclusivity are kept on your side of the lease only. Keep the clause itself in the signed lease.Can I override the check?
No. End or change the other lease's exclusivity first, if the tenant has agreed to give it up.Which plan has it?
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See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.