Avoid These Budgeting Mistakes in Retail Real Estate | Episode 65: I Own a Shopping Center, Now What?

It’s budget season—and here’s exactly how I build shopping center budgets from scratch.In Episode 65 of “I Own a Shopping Center. Now What?”, I take you behind the scenes of my step-by-step budgeting process. If you’re an owner preparing budgets between September and October, this episode is for you. I’ll show you how I forecast expenses using actuals, estimate income from leasing activity, and plan ahead for those “surprise” costs like security or vacancies.I break down how to handle vendor increases, project leasing income, and when it’s smart to loop in partners. I also share strategies to help you impress your institutional clients during budget season. And—don’t miss my special invitation to the Women’s Real Estate Investment Summit!Key Takeaways:Use actuals from the first 8–9 months to build your budgetSpread recurring costs (like landscaping) evenly across 12 monthsEstimate real estate taxes using current TRIM notices plus 10%Don’t prompt vendors for increases—budget a standard 10% bumpAccount for vacancies and utilities based on lease-up expectationsInclude leasing income and TIs with detailed assumptionsFinalize budgets before Thanksgiving, allowing 6–8 weeks to completeSend drafts to key partners for feedback if neededUnexpected expenses (e.g., security) should be noted in reportsRemember: institutions often consider switching third-party firms post-budget seasonBECOME A COMMERCIAL REAL ESTATE ROCKSTAR: https://www.bethazor.com/https://www.azoracademy.com/For more commercial real estate training: https://www.bethazor.com/training/FOLLOW ME ON SOCIALFacebook: https://www.facebook.com/azoradvisoryservices/Twitter: https://twitter.com/bethazor1Instagram: https://www.instagram.com/bethazor/Linkedin: https://www.linkedin.com/company/6315636/#retailleasing #commercialrealestateinvesting #retailleasingcoach #bethazor