Virtual assistant support for retail property management

Property accounting

• Percentage rent reporting: requesting each tenant's sales report on the schedule its lease sets, testing reported gross sales against the lease's exclusions, chasing late reports, issuing the percentage rent statement and truing up the lease year against the annual sales statement.
• CAM reconciliation: after year end, sorting the center's ledger into expense pools, applying each tenant's pro rata share of GLA with its caps, gross-ups and exclusions, and issuing the statement that bills the shortfall or credits the overpayment along with the new monthly estimate.
• Invoice processing: coding every vendor bill to the center and GL account, marking whether the cost is recoverable through CAM, matching it to the purchase order, and routing it for approval inside the owner's spending thresholds.
• Management fee calculation: figuring the month's fee under the center's management agreement from cash collected, leaving out what the agreement excludes, such as security deposits and sale or refinancing proceeds, and booking leasing fees separately.
• Owner reporting package: putting together the monthly package once the books close, from the operating statement against budget and the variance report to the rent roll, aged receivables, occupancy and lease expirations.

Lease administration

• Lease abstraction: reading each lease with every amendment and side letter, recording dates, money terms, percentage rent and co-tenancy in the abstract, and processing each later amendment, assignment or termination into it.
• Estoppel certificates: when a center sells or refinances, drafting each tenant's certificate from the lease file and rent roll, including exclusive use rights, following up until it comes back signed, and logging every returned certificate that disagrees with the file.
• SNDAs: confirming which tenants the lender wants, sending out the lender's form, comparing tenant markups against it, and tracking each signature to the closing calendar alongside the estoppels.

Leasing

• Leasing activity reporting: updating the pipeline for vacant inline space and pad sites deal by deal and filling in the owner's report format for the weekly or biweekly leasing call, with specialty leasing rolled into the monthly report.
• Lease documentation: drafting the lease, license agreement, renewal or amendment from approved deal terms, specialty and temporary tenants included, routing it for approval and signature, and entering the executed terms.
• Leasing commission tracking: matching each signed lease's broker clause against the commission agreement, working out what the listing broker is owed, and scheduling the installments due at execution or rent commencement.

Property management

• COI tracking: collecting tenant certificates at move-in and vendor certificates before any work starts, checking limits and additional insured endorsements against the lease or contract, and requesting renewals before policies lapse.
• Work order management: logging requests from the stores, dispatching them to building staff or vendors, keeping each tenant posted on status, and turning billable work into a tenant chargeback before closeout.

• The repairs themselves, done in the stores and the common areas by the building maintenance staff and vendors who report to your property manager.

Co-tenancy, kick-out, exclusive and radius terms sit in separate sections of a shopping center lease and are often rewritten by amendment or side letter. One prompt gathers them into a single table, with section numbers and quoted language, for the abstract.

You are abstracting the retail-specific clauses of one shopping center lease.
Read the lease and every amendment and side letter supplied.

Return a table with one row per item below. For each row give the value,
the section number, and the exact quoted language.

- Opening co-tenancy: named tenants or occupancy level, and the remedy
- Operating co-tenancy: named anchors or occupancy level, cure period, remedy
- Kick-out right: sales threshold, measurement period, notice window
- Exclusive use granted to this tenant, with its carve-outs
- Radius restriction: distance and what it covers
- Percentage rent terms: rate, breakpoint (natural or fixed), definition of
  gross sales, listed exclusions, and the sales reporting schedule
- Any amendment that changes one of the items above, and how

If a clause is not in the documents supplied, write NOT FOUND.
Do not infer terms from what retail leases usually contain.

Your lease administrator checks every row against the lease before anything goes into the abstract. The known failure points: an amendment nobody supplied, which the model has no way to notice is missing; a co-tenancy clause that names an anchor by a trade name it no longer uses; an exclusive that lives in a side letter; and a gross sales definition spread over several sections, which the model may quote only in part. A NOT FOUND row sends the reader back to the lease file. Percentage rent itself is calculated in MRI or Yardi, where the breakpoint is already set up, so the prompt only reads the terms.