Tenancy Coordination is the foundation for everything we do here at TCPinpoint. The method of opening a retail or commercial tenancy can be complex but it should not be difficult. There are a number of stakeholders involved in the process of tenancy coordination. A good tenancy coordinator is empathetic to each of these stakeholders’ roles and responsibilities and plans accordingly. If the process is not set out and managed correctly from the beginning, in our experience it can often lead to issues with a tenancy not opening on time, which leads to delays in revenue triggers for the landlord and ongoing cashflow issues for all concerned.
An efficient Tenancy Coordinator acknowledges and understands the issues faced by both Landlords and Tenants. They facilitate a balanced and effective process to bring an empty tenancy to life.
Rachel Kidwell
For 10 years Rachel worked as a tenancy coordinator, completing projects like Brickworks Marketplace, Rundle Place and Adelaide Airport with clients like Woolworths and Precision Group when she ran her consulting business, Kidwell Coordination.
“Effectively what we do is work with the landlords and the developers who manage the external build out of these types of projects and then I am responsible as the tenancy coordinator to work with the tenants, their designers, their fit out contractors, the service engineers etc to get the shops open”.
“It’s a chaotic collection of stakeholders who all have their own very defined roles in what they need to do in that built environment. The tenancy coordinator sits in the middle and has to understand what they all do, what they need to get their job done and how they do it because they all interlink”. – Rachel Kidwell
To manage these projects Rachel used a spreadsheet on each development in conjunction with thousands of emails and some sort of document storage solution. It was the tenancy coordinator’s job to update the spreadsheet daily, weekly, or whenever she went into project control group meetings with her client so that everybody could understand where everything for the tenancy delivery process was at. The difficulty there was that everybody had their own version of the spreadsheet and there was no connection between the different types of spreadsheets.
“I’ve sat in meetings with my project directors and watched them with a ruler going down the spreadsheet, line by line, making hand written comments on each line. They would then give it to their PA and the PA would try and interpret the mark ups, make the adjustments and then that was the version we would use for the next week. It was out of control and very inefficient”, Rachel recalls.
You never change things by fighting the existing reality. To change something, build a new model that makes the existing model obsolete.
R. Buckminster Fuller
This is why TCPinpoint was born, to create transparency across a complex process, that needn’t be difficult. To create a new model and make the existing one obsolete. If we provide the industry with a tool that enables each stakeholder to understand how their role fits within the process, we can be more empathetic to helping the process be as smooth as possible, mitigating errors and creating one version of the truth.