Mixed-use property management: shops, offices and apartments in one register
One building, several kinds of tenant. VemLease keeps the shop leases with their turnover rent, the office leases with their service charge and the residential agreements of the same building in one register, with one cost budget split by the keys each use needs. Built for the owners and managers of mixed-use buildings and developments.
A 30 minute demo with a local Vemco team. Company email, no commitment.
Most mixed-use properties are run as three buildings
A retail tool for the shops, a spreadsheet for the office floors, a residential system for the apartments, and a yearly reconciliation that tries to join them. Each use has its own rules, but the building, its costs and its owner are one. In VemLease the property is one building with units of different types, and each lease carries the clauses of its use.
Shops on the ground floor
Leases with base rent and turnover rent on the sales the tenants report through the tenant portal, with automatic reminders when a figure is late, and footfall per entrance from Vemcount next to the lease.
Offices above
Leases with rent steps, indexation and review dates, and the service charge year of the office floors from budget to settlement, with occupancy from VemSpace.
Apartments on top
Tenancy agreements with their rent steps, indexation and end dates, and the share of the building’s running costs that falls on the homes.
One mixed-use building in VemLease, from the ground floor up
This is how a building with shops, offices and apartments is set up and run when it is in VemLease.
1. One building, units of every type
The building with its address and floors, and every unit in it: shops, offices, homes, parking spaces, storage rooms, kiosks and promotional spaces, each with its area, status and dates. When a unit is split or merged, the old units are ended, never deleted.
2. One lease register, different clauses
Every lease and agreement on the register with its own clauses: turnover rent on the shop lease, rent steps and indexation on all of them, break options and review dates where they apply, with alerts before a date falls due.
3. One cost budget, several keys
The expense budget of the building per cost line, split by allocation keys: a coefficient per unit or a direct charge to one unit, as many keys as the building needs. For example, one key for the costs the whole building shares and another for a lift used only by the apartments.
4. One settlement, one report
Quotas invoiced monthly or quarterly, supplier invoices compared with the budget, and a year-end settlement per unit. The rent roll and the critical dates of the whole building in one report, across the companies that own it.
Which costs a lease may pass on, and with which limits, differs by use and by market and is for your legal adviser; VemLease keeps what was agreed and bills it as agreed.
The lease, next to how the building is used
VemLease is built on the Vemco platform that counts visitors and measures occupancy in retail, offices and public buildings. In a mixed-use property that puts the footfall of the ground floor, the sales of the shops and the occupancy of the office floors next to the leases.
Footfall from Vemcount
Visitors per entrance and floor, from the platform that counts 60+ million people a day.
Tenant sales from VemTenant
The sales the shop tenants report, with the reporting status per tenant and reminders sent automatically.
Occupancy from VemSpace
Occupancy and space use of the office floors and shared areas, from the same platform as the leases.
One lease system behind the building
Each part of the work has its own page.
Lease administration
Leases and agreements, critical dates, rent steps and charges in one system.
CAM and service charges
The charges of each lease, reconciled next to the lease they come from.
Lease tracking and critical dates
Renewals, options, reviews and expiries, with alerts before they fall due.
Other property types
The same system for shopping centres, retail chains, offices and residential portfolios.
A lease system with a company behind it
The software is most of the decision. The rest is who stands behind it.
More than 20 years of lease management
VemLease was tbGold365 for more than 20 years. Today it is part of Vemco Group, and 1,500+ properties are managed with it.
A local team
Your demo and your support come from Vemco Group’s local offices. VemLease is cloud based: as a shared service on AWS, in a separate AWS account for your company, or installed in your own Azure, Google or AWS cloud.
A platform buildings already use
Vemco Group has 55,000+ installations in 98+ countries and counts 60+ million people a day, in retail chains, shopping centres, offices and public buildings.
Mixed-use property management: common questions
What is mixed-use property management?
Mixed-use property management is the running of a building or development that combines several uses, most often shops on the ground floor with offices or apartments above, sometimes with a hotel, a car park or leisure space. The leases differ by use, the running costs are shared between uses, and the owner wants one view of the whole property. VemLease keeps the leases, agreements, charges and reports of all uses of one building in one register.
Can a shop lease and a residential agreement sit on the same building?
Yes. A building in VemLease holds units of different types: shops, offices, homes, parking spaces, storage rooms, kiosks and promotional spaces. Each lease or agreement carries its own clauses, so the shop lease can carry turnover rent on reported sales while the residential agreement carries its own rent steps and indexation, on the same building with one cost budget.
How are the running costs of a mixed-use building split between shops, offices and homes?
By allocation keys defined on the building: for each cost line a coefficient per unit, or a direct charge to one unit, with as many keys as the building needs. One key can cover the costs the whole building shares and another the costs only one use shares, for example a lift used only by the apartments. The budget is split into quotas, the quotas are invoiced monthly or quarterly, and at year end the budget is settled against the actual costs. Which costs a lease may pass on, and with which limits, differs by use and by market and is for your legal adviser.
Does VemLease handle turnover rent for the shops in a mixed-use building?
Yes. The shop tenants report their sales in the tenant portal, with automatic reminders when a figure is late, and the variable rent is calculated from the reported sales as the lease says. The shop lease sits on the same building as the office leases and the residential agreements.
Can I see the footfall of the shops next to the lease?
Yes. VemLease is built on the Vemco platform that counts 60+ million people a day. Footfall per entrance and floor from Vemcount, tenant sales from VemTenant and occupancy from VemSpace sit next to the lease data of the building.
Does VemLease work for a portfolio of mixed-use buildings held in several companies?
Yes. Leases and agreements are kept per company and per management file, so an owner with several buildings, several legal entities or several markets runs them in one system, with the rent roll and the critical dates reported across the portfolio. VemLease covers commercial, residential and special-purpose real estate, with 1,500+ properties managed.
See VemLease on your own building
A 30 minute demo with a local Vemco team. Company email, no commitment.