That Retail Property Guy

When a retailer goes into Administration, what does the Administrator actually do? Host Gary Marshall discusses this from a Property perspective, looking at the rights and obligations of the various players – the landlords, the suppliers, the Administrator’s team.He discusses Insolvency Rules which take precedence over contractual leases, where Landlords become Unsecured creditors facing losses of rent and unfulfilled dilapidations.  He also comments on the value to be gained in liquidating stock, fixtures, special items – and avoiding landfill!Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Save the High Street?   Why? Where? How?     What’s your view?   Host Gary Marshall discusses the plight of town centre retail, and considers the popular cry to Save the High Street.   He questions whether this is a nostalgic, rose-tinted recollection of bygone days, or a sincere movement to re-take our towns, and build vibrant communities.He asks whether out of town retail is partly to blame for town centre blight, or are retail parks the new high street where we can gather, meet up, browse, shop?  Are town centre shops still needed – and what could be an alternative use?  He questions if any change in use should be tightly controlled, or permitted without restriction, and if tax-payer funded projects are helpful, or wasteful? Are anti-car measures part of the problem?  Does everyone have the right means of access to their local high street?   And what part do we all play, as online-shoppers, in this demise of physical retail? Save the High Street?   Or let it evolve?Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this episode, host Gary Marshall shares some anecdotes about managing agents, from the perspective of a retailer as tenant & occupier. A recurring theme is : do these agents actually read the Lease?He alludes to numerous examples of agents issuing incorrect invoices, using incorrect data, chasing payments that are not yet due, inappropriately threatening debt recovery, and failing to understand basic lease terms. Service charge management is a particularly problematic area, with agents mismanaging billing, delaying documentation such as budgets and reconciliations, and misallocating or losing tenant’s funds.  There is also concern about transparency, such as where landlords generate income from shared spaces (like car parks) that should offset tenant costs but are not clearly accounted for.Errors are often blamed on poor systems or junior staff, but proper management & quality control should prevent such failures. Delays, lack of communication, and “stonewalling” just erodes trust.Poor handovers often leave tenants with unresolved problems when landlords sell their properties, or even just change agents. Marshall concludes that managing agents (as service providers to their client Landlords) should be more accountable and better aligned with both the lease terms and the Landlord’s objectives. Landlords should closely oversee their agents and consider feedback of tenant experiences. Current shortfalls in delivery often oblige tenants to bypass the agent, escalating issues directly to landlords, creating distrust with the agent, while highlighting the need for significant improvement in performance and accountability.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this episode, host Gary Marshall discusses the relationship of managing agent to the tenant, and to the landlord.    A recurring theme is : do these agents actually read the Lease?He clarifies that the term ‘managing agent’ can include surveyors, accountants, credit controllers, cashiers, client accountants and administrators, all acting as hired-help to a landlord in collecting charges due from tenants, and monitoring adherence to the terms of the lease.  He points an accusatory finger at some agents, with anecdotes of incorrect invoices, incorrect data, chasing payments that are not yet due, inappropriate threats of debt recovery, and failing to understand basic lease terms. Errors are often blamed on poor systems or junior staff, while delays, lack of communication, and “stonewalling” erode trust.   But proper supervision & quality control should prevent such failures.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Retailers with Leases often forget to claim under their building or contents insurance – they absorb losses and pay for repairs which they already paid to insure against!     Building Insurance might be organized by the Landlord but paid for by the tenant, who might then confuse their repairing obligations with claimable circumstances – and that can mean money down the drain. But making a claim can be complex, and not all costs can be recovered.  Excesses apply, process can be slow, which all impacts on trade and profitability. But sometimes, closing up shop while awaiting repair can be the logical answer, avoiding further risk, ensuring competent repairs not a bodge job.Rent Waivers and Subrogation might apply, apportioning of costs and liability might be unclear. Be smart, know the extent of your various insurance policies, how to claim, when to claim. And when not to.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Retailers with leases need data which spans multiple competencies – estate management, accounts payable, finance control & reporting, maintenance & compliance, utilities management, store performance.  Host Gary Marshall points out that it’s rare to find a single person in any retail business who can cover all those bases – but suggests that well-defined teamwork can make the dreamwork. Poor data often stems from fragmented data, data-gaps, formatting issues, disparate sources like spreadsheets.  Poor "data cultures" point to inadequate investment in retained facts which ultimately cost the retail tenant dearly.  But fixing that often seems daunting – especially to non-experts, or non-nerds, or time-challenged execs who already believe the data is in place – until they realise it isn't. Marshall guides the listener to take a challenge, to find out who in their organisation is responsible for the right Estates and Accounts Payable data.  Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall discusses whether leases on non-profitable retail locations can be handed back to the landlord – or what other options are open to the retailer?  He highlights common alienation provisions in commercial leases, with conditions which might allow or restrict an assignment of the whole lease, or a subletting of part, possibly on a different rent or other varied terms. He mentions how shuttering a store might be an obvious choice if the losses exceed the occupational costs of rent and business rates, but he also points out how accountancy housekeeping of badly-allocated central costs or poorly managed depreciation might give a poorly performing store another chance.Should landlords play a part in helping a correction in long-established but unsustainable rental levels, and could a CVA be the only legitimate choice for a retailer locked into leases which it cannot afford?Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Free Money? In this episode, host Gary Marshall highlights key areas of PROFIT PROTECTION where Retail Tenants risk leaving money on the landlords table, not on their own bottom line.       Uncollected completion funds, unresolved arrears, poorly investigated account balances – and misplaced faith that landlords and their managing agents’ accounts are correct.     Extra attention in these property-accounts areas can reward retailers with a cash upside measured in millions, no extra sales required.    Can you afford to ignore it? Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this discussion on the reach of AI into the retailer’s world of estate management and property accounts payable, host Gary Marshall asks what functions could be helped by AI? Will it replace traditional estates / finance databases, or back-office teams? Can it drive greater efficiency than its human counterparts? Is there anything it couldn’t do – like negotiate a rent review?Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall discusses aspects of SOPs (Standard Operating Procedures) as a means of Profit Protection and Compliance.  He highlights the need for well-documented process bibles which explain How to Do the function, but critically also explain WHY each step is necessary. He emphasises that the WHY is fundamental, to allow evolution without compromising the basic requirements for other stakeholders, including safety, compliance, financial reporting.He discusses Knowledge Transfer, the advantage of using established SOPs to train new colleagues or handover to new teams, and the risks of losing established expertise.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall discusses extreme wintry weather, and its impact on bricks & mortar retail, through reduced footfall, and additional costs such as heating, or repair, or losses due to storm damage. He highlights the challenges of maintaining comfortable working temperatures for store personnel while acknowledging the discomfort for customers transitioning from low external temperatures. He also raises awareness for retailers to carefully consider how to deal with costs and losses, to carefully Read The Lease to avoid picking up costs which should fall to the landlord, or be claimed on insurance.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall discusses the growing need for estate-management databases by retail tenants with leases, aligning leased-property data with finance function.  He highlights how recent changes in accounting standards such as IFRS 16 and FRS 102 have driven the need for supportive software to hold relevant lease data, and to handle complex Discount Cash Flow calculations for Balance Sheet reporting. He describes the challenges of procuring tenant-friendly software among many landlord-biased applications, and of integrating contractual Property payments such as rent and service charge into a dominant Finance landscape built around Purchase Order numbers and invoices.In conclusion, he highlights the need for cost-effective applications with ease of integration into established Finance databases, and the need for Subject Matter Expertise in managing consistent  input and output to ensure close control on costs, and optimised profit.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this episode, host Gary Marshall discusses Business Rates and Pubs, particularly a recent U-Turn by the UK Government as it seeks to mollify Publicans who were outspoken about rates increases on their businesses.Gary highlights the new discount being offered to pubs and live music venues, but not to any other business such as retail. He considers the example that this presents – pubs as a special case – to argue that the same argument applies to all businesses, and that this could be the opportunity to bring about greater change such as replacing the Business Rates system with a fairer and more relevant business tax. Link to Gov.uk check Rateable Values https://lnkd.in/eEz3FVdy Link to BBC article, demands for Retail to be treated same as pubs   https://www.bbc.co.uk/news/articles/cp80l2ndz5yoLink from Commons Library on Rates/discounts   https://commonslibrary.parliament.uk/research-briefings/cbp-10460/  Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Host Gary Marshall welcomes Listeners to another series of That Retail Property Guy.  Series 1 closed on a cliffhanger of upcoming FRS 102 accounting changes.  Series 2 opens by checking back in on that – what consequences or observations have become apparent since it went live on 1st Jan?      Gary reminds Listeners that changes to FRS 102 mean that the Balance Sheet must now recognize right-of-use assets and lease liabilities for many leases, which requires data gathering, analysis, and discounted cash-flow values.   He urges tenants to reach out  to experienced advisers.And from the perspective of a retailer as tenant, Gary recognizes the cyclical nature of retail estate management, as yearly activities come around again.  He suggests some tasks in planning and budgeting for upcoming breaks or expiries, new acquisitions or disposals, as well as rent reviews, rates appeals, scrutinising service charge proposals and reconciling year-end accounts.  As one example of Housekeeping, he highlights Business Rates where February is a key date, he urges occupiers to check that annual rates accounts are now clear, and to recover any credit balances, which could amount to thousands of pounds.  But he also highlights some of the challenges in identifying and recovering those credits.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

New FRS 102 Accounting rules introduce changes to how lease liabilities are reported in a business' annual accounts. This episode considers the impact of lease length in those calculations, where breaks, options to extend, reversionary renewals and Minutes of Variation might have a substantial impact but protected renewals under the 1954 L&T Act might not.  Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Newly amended UK domestic accounting standard FRS 102 kicks in 1st January 2026. This episode compares the old & new rules for recognizing lease incentives such as rent free or landlord’s contributions. Tune in to gain valuable insights, and ensure your business is prepared.00:00 Introduction to FRS 102 and Podcast Overview00:49 Understanding FRS 102: Basics and Implications01:34 Lease Obligations and Financial Reporting03:24 Calculating Lease Liabilities and Incentives05:30 Rent-Free Periods and Break Options08:35 Complexities of FRS and IFRS Reporting09:14 Stamp Duty and Its Impact on Lease Accounting10:45 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Preparing for FRS 102:  Discount Rates when calculating Lease LiabilitiesThis episode is part of a mini-series focusing on the challenges faced by retailers as tenants, for the upcoming mandatory changes to domestic accounting standard, FRS 102, set to take effect on January 1, 2026. Host Gary Marshall explains the complexities of discounted cash flow calculations, and the importance of choosing the appropriate discount rate for accurate financial reportingHe suggests practical steps for small businesses, and some potential pitfalls for low-cost reporting solutions. Listeners are encouraged to consult with experienced accountants or FRS specialists!00:00 Introduction to FRS 102 Changes00:55 Understanding Lease Liabilities03:01 Calculating Discount Rates06:24 Discount Rate Options and Implications10:05 Practical Considerations for Small Businesses11:46 Conclusion and Final ThoughtsLink to excellent article: https://www.linkedin.com/pulse/whats-new-frs-102-discount-rates-lease-accounting-harpreet-kaur-0ncte/Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this episode of 'That Retail Property Guy,' host Gary Marshall examines new FRS 102 accounting standards set to impact UK and Irish retailers from January 1, 2026, considering the challenges of transitioning existing leases to the new reporting method, the options available for doing so, and the potential impact on annual accounts. For Retailers with Leases, this episode offers valuable insights into preparing for the significant changes ahead. Tune in for practical tips to ensure a smooth and compliant transition.00:00 Introduction to the Podcast00:20 upcoming FRS 10200:44 Challenges with Existing Leases01:05 Basics of FRS 10201:55 Impact on Retailers06:01 Transitioning to FRS 10206:24 Modified vs. Full Retrospective Application09:47 Practical Considerations for Retailers11:44 Conclusion and SuggestionsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

New FRS 102 accounting rules: Retailers, Are You Ready?In this episode of 'That Retail Property Guy,' host Gary Marshall reminds retailers of the upcoming changes in Accounting Standard FRS 102, which takes effect on January 1, 2026.  He discusses the impact retailers' leased assets, the complexities of calculating lease liabilities for the Balance Sheet, and specifically this episode addresses Turnover Rents! 00:00 Introduction to the Podcast00:27 Overview of FRS 102 (and IFRS 16)01:25 Current UK Accounting Rules and Lease Obligations02:31 Complexities in Lease Calculations04:36 Turnover Rent and Its Implications07:23 Transitioning to New FRS 102 rules09:53 Preparing for the New Standards12:27 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding Landlord Competency in Lease RenewalsIn this episode of 'That Retail Property Guy,' host Gary Marshall explores the legal competency of landlords under the 1954 Landlord and Tenant Act, as usual from the tenant's perspective. He discusses renewal rights under the 1954 Act, with potential consequences for tenants who are not in occupation for business or when dealing with subleases. He highlights the possibility for a new landlord to insert themselves into the chain of competency – with ensuing risks for the occupying tenant.  Marshall highlights the criticality for tenants in identifying their true landlords, highlighting the importance of serving Section 40 notices to obtain robust data, and mentions the '14 month rule,' which determines a landlord's legal competence at lease-expiry to grant or oppose new leases. 00:00 Introduction to Retail Property Insights00:41 Landlord Competency Under the 1954 Act01:48 Identifying the True Landlord03:35 Section 40 Notices and Tenant Rights04:34 The 14-Month Rule Explained05:24 Intermediate Tenants and Subleases07:52 Landlord's Rights and Grounds for Possession09:32 Case Study: Wicks vs. Marks and Spencer10:45 Managing End of Lease Scenarios13:56 Conclusion and Final ThoughtsThe Times article: https://www.thetimes.com/business-money/companies/article/retailers-resort-to-ungentlemanly-tactics-in-uk-turf-war-870h6pb76Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Vital Role of Accounts Payable in Retail Property ManagementIn this episode of 'That Retail Property Guy,' host Gary Marshall explores the intertwined roles of estate management & accounts payable (AP) for retailers as tenants. Highlighting the indispensable role of AP as Gatekeepers of Profit in controlling property outgoings, Gary underscores the shared responsibility of asset managers and AP teams. He discusses common pitfalls in property expenditure, the necessity for accurate information and robust processes, and the importance of diligence in financial management. Offering practical anecdotes and insights, Gary emphasizes the need for seamless communication and cooperation to optimize property costs and safeguard the bottom line. He concludes by advocating for proper Gatekeeper training and resource, ensuring the protection and recovery of potential profit losses.00:00 Introduction to the Podcast01:16 The Importance of Accounts Payable in Estate Management02:46 Challenges and Responsibilities of Gatekeepers04:40 Real-Life Examples and Lessons Learned06:48 Best Practices for Gatekeepers11:06 Common Issues and Solutions17:59 Conclusion and Final Thoughtshttps://smarterestates.co.ukSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

 Tech Evolution in Retail Property Management: From Floppy Disks to AI  In this episode of 'That Retail Property Guy', host Gary Marshall reviews (and laughs at) the evolution of tech and its impact on retail property management and accounts payable over the past 40 years. He recalls early computers, and software like Lotus 1-2-3 and WordPerfect, and contemporary tools like Excel, Power BI, and specialized property management applications. He discusses the rise of AI, its capabilities and limitations, and emphasizes the need for critical thinking when dealing with AI-generated outputs, ensuring human oversight avoids errors and hallucinations. 00:00 Introduction to the Podcast 01:04 The Evolution of Tech in Business 01:53 Early Office Tech and Software 04:15 The Y2K Scare - a storm in a teacup? 05:53 Advancements in Mobile Technology 07:21 Modern Apps, and Their Predecessors 10:00 The Role of AI in Today's Work Environment 12:52 The Reliability and Risks of AI 15:45 Conclusion and Final Thoughts Link to FINDME TTS  https://www.twofireseducation.com/findmeLink to Geolytix https://geolytix.com/blog/uk-retail-places/Link to MRI https://www.mrisoftware.com/uk/products/prolease-overview/enterprise/Link to Accruent https://www.accruent.com/products/lucernex-v2?utm_source=google&utm_medium=paid&utm_campaign=emea-oa-inbound-lx-25fy-google_search_evergreen_brand&utm_content=lucernex&utm_id=701v400000ll7nf&gad_source=1&gad_campaignid=22326956637&gbraid=0AAAAAD9ez3z5lFSoK9QHIhtnMGOEIbu0c&gclid=EAIaIQobChMIzbXikZ66kAMVo4BQBh3pwSQ0EAAYASAAEgK3Z_D_BwELink to Daniel Clark on Linkedin https://www.linkedin.com/posts/danielclarke-uk_dont-assume-everything-that-comes-out-of-activity-7385219323188948992-xUPJ?utm_source=share&utm_medium=member_desktop&rcm=ACoAABSNuk4B0Kz-cthxrcVIY2QMcZmpqKO6wIQSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

User Clauses and Planning Uses for Retail Locations - with Gary MarshallJoin Gary Marshall in this episode of 'That Retail Property Guy' as he delves into the complexities of user clauses in commercial leases, and the planning legislation that also impacts Use. Gary discusses why User Clauses impact tenant mix and the broader retail environment, about planning changes, and what to look for in both old and new leases. Don't miss this insightful discussion offering invaluable advice for both tenants and landlords.00:00 Introduction to Retail Property Management02:13 Understanding User Clauses in Leases02:56 Importance of Tenant Mix04:18 Specifics of User Clauses09:07 Planning Permission and Legislation10:45 Changes in Planning Legislation12:35 Impact of Planning Changes on Lease Clauses14:36 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding Deeds of Variation in Commercial Leases In this episode of 'That Retail Property Guy,' hosted by Gary Marshall, we take an in-depth look at Deeds of Variation - legal documents that allow modifications to existing commercial leases. Common reasons for these variations include adjusting rent review frequencies, allowing structural changes, removing break clauses, and modifying the actual demised space. He also discusses potential implications, such as tax liabilities and balance sheet variances, advising tenants to seek professional advice when considering lease modifications. Tune in to gain valuable knowledge applicable to estate management, particularly from a retail tenant's perspective.00:00 Introduction to Retail Property Management00:29 Understanding Lease Contracts02:17 Flexibility in Lease Agreements03:28 Deeds of Variation Explained05:25 Practical Examples of Lease Variations11:01 Legal and Financial Implications15:53 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Life Expectancy of Retail Locations.Join Gary Marshall in this episode of 'That Retail Property Guy' as he explores the life expectancy of retail locations and the implications for developers, tenants, shoppers, and communities. Is the end nigh at 35 years? Prompted by contrasting news articles, Gary delves into the factors affecting the longevity of maturing retail spaces. With notable examples like Sheffield’s Meadowhall and Newbury's Kennet Centre, consider how high streets and retail centres can evolve, adapt or repurpose over time, and the varied fates of city centres versus out-of-town retail parks. The episode concludes by questioning whether the future of retail lies in adaptability, repurposing, or returning to more localized, community-focused models.00:00 Introduction to Retail Property Life Expectancy01:57 The Golden Age of Retail03:09 The Decline of Retail Spaces04:40 Case Studies: Retail Locations in Crisis07:35 The Future of Retail Spaces16:36 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

That Retail Property Guy discusses the different spaces in retail leases, with differing user permissions, different costs per square foot/metre, and different physical constraints. Consider how a retailer might have opportunities to make changes or alterations to improve cost/sales ratio of  a fixed lease - and the pitfalls of making changes without the right documentation. Optimise the leased asset, but don't get caught out, don't pay twice.  Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

A nudge for retailers - Preparing for FRS 102: New Financial Reporting Changes for Retailers wef 1st Jan 2026 In this re-published episode of 'That Retail Property Guy,' host Gary Marshall discusses the upcoming changes in accounting rules under FRS 102, which will be mandatory from January 1, 2026. These changes significantly impact how lease liabilities must be reported on balance sheets for businesses in the UK and Republic of Ireland. Gary explains the new requirements and stresses the urgency for businesses to talk to their advisors and ensure compliance well before the deadline. The episode serves as a crucial informational resource for retailers looking to navigate these impending financial reporting changes. 00:00 Introduction and Overview00:20 Upcoming Changes in Accounting Rules01:00 Understanding FRS 10202:21 Impact on Retail Occupiers04:11 Implementation Challenges and Advice05:06 Discussion Points for Property Community06:08 Detailed Considerations for Lease Reporting12:30 Calculating Lease Liabilities16:48 Strategic Implications and Final Thoughts17:48 Conclusion and Call to ActionOther Relevant EpisodesFRED82, IFRS16 and FRS102: How New Regulations on Lease Reporting Impact Retailers' Balance Sheetshttps://podcasts.apple.com/us/podcast/fred82-ifrs16-frs102-how-new-regulations-on-lease-reporting/id1791455767?i=1000705362341Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Join Gary Marshall in this episode of 'That Retail Property Guy' as he delves into the intricacies of completion statements in retail property management. Learn about the importance of getting these financial summaries correct, the common pitfalls to avoid, and why attention to detail can make a significant financial difference. This episode is packed with insights, all aimed at ensuring you never leave money on the table. Perfect for retailers, accountants, and property managers who want to refine their understanding and processes.00:00 Introduction to That Retail Property Guy01:20 Understanding Completion Statements on Leasehold deals02:49 Common Pitfalls in Completion Statements05:12 Calculating Apportionments and Charges, 11 fingers!09:51 Ensuring Accuracy in Completion Statements14:11 Final Thoughts and Best Practices14:33 Closing Remarks and Call to ActionKerching: follow the Money: Series 1, Episode 1: https://podcasts.apple.com/us/podcast/kerching-why-retail-tenants-should-follow-the-money/id1791455767?i=1000684632560Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Essential Guide to Archiving Tenant Documents explores the importance of archiving critical property documents for retail tenants.  From old-school title deeds and legal documents tied up with red tape to modern electronic storage options, the podcast emphasises the value of keeping comprehensive, accessible records. The host shares insights on how well-maintained archives can provide a competitive edge, help comply with legal requirements like EPCs, and protect against financial and legal risks. The discussion includes the evolution of archiving practices, the types of documents to retain, and various digital solutions for effective document management. 00:00 Introduction to Estate Management and Accounts Payable00:12 The Importance of Historical Documents01:24 Modern Archiving Practices03:46 Legal and Critical Property Documentation05:22 The Role of Variations and Side Agreements06:46 Practical Examples and Case Studies10:56 The Evolution of Document Retention12:18 Modern Tools for Document Management13:46 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Modernising Retail Leases: Operational, Legal and Environmental ConsiderationsIn this episode of 'That Retail Property Guy,' host Gary Marshall discusses the changes in lease agreements over the past 25 years, including requirements for new clauses covering pandemics and environmental impact (so-called green leases). It emphasises the importance of careful negotiation and professional advice for tenants to navigate modern legal and environmental obligations, while recognising the 'like-for-like' assumptions of the 1954 Landlord & Tenant Act, and discussing where the boundary lies between lease-contract obligations and evolving legislative standards such as Energy Performance Certificates (EPCs) and Packaging responsibilities.00:00 Introduction to Lease Modernisation00:49 Pandemic Clauses and Lease Negotiations01:39 Modernization and Legal Considerations08:30 Environmental Impact and Green Leases13:12 Sustainability snd Future-Proofing Leases17:38 Conclusion and Final AdvicePackaging rules:https://www.gov.uk/guidance/extended-producer-responsibility-for-packaging-who-is-affected-and-what-to-doSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding VAT on Lease-Related Charges and Property Costs: Essential Insights for Retail TenantsIn this episode, we delve into the complexities of VAT (Value Added Tax) on property leases. We examine the current VAT rates in the UK and the Republic of Ireland, and discuss which goods and services are subject to VAT. We look at the implications for landlords, especially those who opt to charge VAT, and explain how they can recover VAT on their expenses. We also explore the significant impact on tenants, particularly small businesses and charities who cannot offset VAT payments. In addition, we cover the importance of proper documentation, the role of 'applications for payment,' and common pitfalls in VAT invoicing and receipts. This episode is essential viewing for anyone involved in commercial property leasing, providing a comprehensive guide to navigating VAT obligations and avoiding costly mistakes.00:00 Introduction to VAT00:46 VAT on Leased Property01:48 Option to Tax: A Landlord's Perspective02:34 Impact on Tenants03:24 VAT Documentation and Compliance08:49 Applications for Payment vs. Invoices12:19 Common Mistakes and Risks16:54 Conclusion and AdviceSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Challenges of Subletting and Assignment: Key Considerations for RetailersWhat can tenants do to mitigate the financial burdens of surplus properties including various strategies like subletting, underletting, and assignment in the UK retail property market? Join That Retail Property Guy' as host Gary Marshall discusses strategies for tenants to dispose of surplus leases. Gary explains the importance of reading lease terms, securing landlord consent, and the implications of the 1995 Landlord and Tenant Covenants Act. He delves into the risks and responsibilities involved in underletting, subletting, and assignment, and provides practical advice on mitigating financial losses, dealing with non-paying subtenants, and managing potential lease-end complications. 00:00 Introduction and Episode Overview00:11 Understanding Lease Contracts and Tenant Obligations01:27 Options for Retailers with Surplus Properties01:34 Exploring Break Clauses and Alienation Rights02:10 Underletting and Subletting Explained03:32 Navigating the 1954 Landlord and Tenant Act06:12 Landlord's Approval and Reasonable Consent08:55 Assignment of Leases: Risks and Rewards10:46 The 1995 Landlord and Tenant Covenant Act14:01 Managing Financial Support and Lease Expiry16:15 Conclusion and Final Thoughts.Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Preparing for FRS 102: New Financial Reporting Changes for Retailers In this episode of 'That Retail Property Guy,' host Gary Marshall discusses the upcoming changes in accounting rules under FRS 102, which will be mandatory from January 1, 2026. These changes significantly impact how lease liabilities must be reported on balance sheets for businesses in the UK and Republic of Ireland. Gary explains the new requirements and stresses the urgency for businesses to talk to their advisors and ensure compliance well before the deadline. The episode serves as a crucial informational resource for retailers looking to navigate these impending financial reporting changes. 00:00 Introduction and Overview00:20 Upcoming Changes in Accounting Rules01:00 Understanding FRS 10202:21 Impact on Retail Occupiers04:11 Implementation Challenges and Advice05:06 Discussion Points for Property Community06:08 Detailed Considerations for Lease Reporting12:30 Calculating Lease Liabilities16:48 Strategic Implications and Final Thoughts17:48 Conclusion and Call to ActionOther Relevant EpisodesFRED82, IFRS16 and FRS102: How New Regulations on Lease Reporting Impact Retailers' Balance SheetsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Impact of Theft and Vandalism on Retail Buildings and Security MeasuresThis episode explores the multifaceted issue of theft in retail environments, beyond common shoplifting concerns. The discussion covers the various types of theft involving building materials and expensive equipment, such as solar panels and EV charger units. Organised criminal activities, seasonal variations and advancements in theft tools are highlighted. Host Gary Marshall also addresses the responsibilities of retailers and landlords in managing security, the complex lease agreements regarding repairs and the broader impacts on staff and operations. Various security measures and their effectiveness, including physical presence and surveillance systems, are examined in the context of preventing and mitigating theft-related losses. 00:00 Introduction to Retail Property Insights00:19 Theft in Retail: A Persistent Problem00:38 Unusual Targets: Building Materials and Equipment02:22 Seasonal and Specialised Thefts05:01 Creative and Audacious Theft Attempts06:05 Security Measures and Challenges07:44 Tenant and Landlord Responsibilities14:04 Antisocial Behavior and Its Impact  12:54 Daylight Robbery15:39 The Cost of Security17:40 Conclusion and Final ThoughtsRelated episodes:Sharing Common Space and Facilities - a Land Grab for EV Chargers and Storage ContainersBailiffs, Billboards, Breaking and Entering: Five Cautionary Tales of Landlord EncountersMaintenance, Repairs and Dilapidations in Retail LeasesSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding Commercial Lease Repair and Maintenance ObligationsThis episode provides an in-depth overview of commercial lease repairing obligations, emphasising the importance of tenants understanding their responsibilities and double-checking them against those of the landlord. It explains the differences between Full Repairing and Insuring (FRI) leases and Internal Repairing and Insuring (IRI) leases, and the expectations set for tenants regarding proactive and reactive maintenance. Host Gary Marshall also delves into issues related to lease compliance, potential conflicts, and legal notices like the section 146 notice from the 1925 Law of Property Act. The necessity of professional advice for tenants to navigate their obligations and potential disputes effectively is highlighted. 00:00 Understanding Repairing Obligations in Commercial Leases00:16 Types of Repairing Leases: FRI vs IRI01:07 Proactive vs Reactive Maintenance02:03 Insurance and Repair Costs03:22 Elasticity in Repair Obligations06:38 Landlord's Rights and Tenant's Responsibilities07:33 Legal Actions and Tenant's Defense10:40 Section 146  Notice and the 1925 Law of Property Act12:37 Schedules of Dilapidations15:00 Privity of Contract15:06 Reinstatement Clauses   16:11 Accounting Implications, IFRS and FRS10217:05 Final Advice for TenantsRelated episodesIFRS/FRS102RTFL! Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Impact of Banning Upward Only Rent Reviews: A Deep DiveIn this episode of 'That Retail Property Guy,' host Gary Marshall explores the UK government's surprising proposal to ban upward-only rent reviews in commercial property leases, a move that could have significant ramifications for tenants and landlords alike. Gary examines the potential benefits and pitfalls, the history of ratchet leases, and considers reactions from various industry stakeholders. He also discusses the broader implications for investment, stability and market operations if this proposal becomes law. Listeners are invited to engage with the debate and stay informed as the bill progresses. 00:00 Introduction to That Retail Property Guy00:36 Government's Proposal to Ban Upward-Only Rent Reviews01:12 Understanding Upward-Only Rent Reviews01:38 Reactions and Implications of the Proposal02:20 Details of the Proposed Bill04:13 Potential Loopholes and Legal Considerations05:16 Tenant Perspectives on Upward-Only Rent Reviews07:08 Landlord Perspectives on Upward-Only Rent Reviews10:41 Economic, Market and Pension Implications13:13 Conclusion and Next StepsLINK TO GOV.uk Guidance NotesSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Discussing the Upcoming VOA and HMRC Integration and Reimagining Business RatesIn this episode of 'That Retail Property Guy,' host Gary Marshall explores an announcement on the Gov UK website regarding the integration of the Valuation Office Agency (VOA) into HMRC by April 2026. Highlighting inefficiencies within the current business rates system, Gary discusses the potential impacts on retailers and other business sectors. He questions the purported savings and suggests replacing business rates with adjustments to the VAT system. Gary calls for innovative solutions to fairly distribute tax burdens without perpetuating outdated methods. This episode is essential for retail businesses concerned about impending bureaucratic changes.00:00 Introduction to the Podcast00:19 Government Changes to the Valuation Office Agency02:01 Implications of the VOA Merger03:45 Critique of the Business Rates System07:42 Proposed Alternatives to Business Rates10:51 VAT as a Replacement for Business Rates14:57 Conclusion and Call for Suggestions Related episode - Business Rates Exposed: the Curse of an Archaic SystemValuation Office Agency scrapped in government drive to slash inefficiencies - GOV.UK   Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

In this episode of That Retail Property Guy, we shine a light on one of the most overlooked yet essential functions in any retail property operation: Property Accounts Payable.While estates teams focus on leases and landlord relationships, it’s often Property AP that carries out the financial obligations those leases require. But this isn’t standard Accounts Payable. These are high-value, legally binding payments, often made without formal invoices or purchase orders - and the margin for error is huge.We explore what happens when landlords or managing agents change mid-lease, when new payment instructions arrive without clarity, or when teams rely on automation without specialist oversight. In those moments, confusion can reign - and unless someone reads the lease, mistakes can quickly become expensive. Here we cover the who, what, when and why to pay, in detail. The episode delves into the risk of treating Property AP like standard GNFR accounts, the compliance traps hiding in poor handovers, and the dangers of under-resourcing a team responsible for millions in payments. We also consider the importance of strong collaboration between Estates and AP - because when those teams work in silos, money gets lost.Ultimately, this is a call to recognise Property AP as more than admin. It's a legal, operational, and strategic function. And if your business isn’t reading the lease—or backing the people who do—you’re leaving profit on the table.00:00 Introduction to Property Accounts Payable00:26 The Unique Nature of Property AP01:12 Challenges in Property AP01:38 Distinctions Between Property AP and Regular AP02:51 The Importance of Proper Training and Resources04:32 The 'Who to Pay' Challenge07:27 Verification and Due Diligence14:08 Payment Methods and Issues17:24 Final Thoughts on Property Accounts PayableSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Navigating Insurance Obligations for Retail and Commercial TenantsIn this episode of 'That Retail Property Guy,' host Gary Marshall explores the often-overlooked complexities of insurance obligations within retail leases. He explains the typical insurance responsibilities that tenants face, including reinstatement, loss of rent, and terrorism coverage, and advises tenants to thoroughly review their lease agreements to be clear what the landlord is entitled to recharge, as well as the implications of clauses that label insurance as 'rent. The discussion also highlights the importance of diligent check-ups on apportionment and competitive pricing, and how tenants should protect themselves from potential pitfalls like overpaying premiums or hidden fees.00:00 Retail Property Insights00:20 The Dilemma of Insurance in Retail Leases00:59 Understanding Insurance Obligations in Leases03:08 Insurance Recharges and Rent: The Hidden Costs04:16 VAT and Insurance Premium Tax Explained06:56 Diving Deeper into Insurance Types – Reinstatement, Loss of Rent, Terrorism09:09 Unfair Loading11:56 Rent Cesser13:29 Terrorism and Pool Re15:02 Ensuring Fair Insurance Costs16:06 Sharp practice and the Trocadero Case18:39 The Importance of Reading Your Lease19:04 Acts of God and Other Items22:22 Conclusion and Further Resources How RCA insurance valuations should be done, by RICS (the Royal Institution of Chartered Surveyors)PoolRe insurance for terrorismShoosmiths article about that Trocadero case Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Revolutionising Retail Property with E-Billing: A Vision for the FutureGary Marshall, host of 'That Retail Property Guy,' delves into the evolving landscape of the retail property sector as it transitions from traditional paper or imaged invoicing to proper e-billing systems. With countries like Germany, which has legally adopted B2B e-billing, leading the curve, the shift seems inevitable, whether by market pressures or governmental mandates. Gary highlights the inefficiencies and challenges of current digital formats, explaining why existing OCR and AI technologies still fall short. Could there be an industry-wide standardised e-billing platform to streamline processes between landlords and tenants, supported by automated verification and payment systems? This episode underscores the universal relevance of e-billing beyond retail property, affecting all business contracts and legal agreements.00:00 Retail Property Insights00:14 The Shift to E-Billing in Retail Property01:13 Challenges with Current E-Billing Systems02:17 The Inefficiency of OCR and Image Recognition06:46 Exploring AI in E-Billing07:22 The future - an Industry-Wide E-Billing Platform?11:35 The German Model and Its Implications12:52 Conclusion and Call to Action  DLPIPER paper on Germany’s e-billing practicesSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Navigating Sanctions in Property Letting: New Legal ObligationsIn this episode of 'That Retail Property Guy,' host Gary Marshall discusses the new legal obligations for UK letting agents effective from May 14, 2025, which require financial sanctions checks on both landlords and tenants. These measures aim to prevent financial crime, safeguard national security and comply with international obligations. Gary explores the implications for letting agents, including the procedural burdens and significant penalties for non-compliance. He also delves into the potential impact on retailers and other businesses, emphasising the importance of thorough checks and documentation in all leasing transactions. The episode underscores the overall significance of these legal changes across various sectors. 00:00 Introduction to the Podcast00:19 New Legal Obligations for Letting Agents01:05 Impact on Letting Agents and Compliance03:07 The Disappearing 10000 Euro Threshold07:03 Sanctions and Their Implications07:51 Performing Sanctions Checks09:31 Challenges and Practical Steps11:35 Conclusion and Final Thoughts The UK Sanctions List - GOV.UK Goodlord's Tenant and landlord sanctions checks FAQsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Reflecting on 25 Episodes of Retail Property Insights with Gary MarshallIn this milestone 25th episode of 'That Retail Property Guy' podcast, host Gary Marshall reflects on the journey that began in January 2025, sharing insights and thanking his audience for their support. Drawing on over 40 years of experience, the podcast offers infotainment, anecdotes and practical advice aimed at improving property cost management and operational processes for both small and large retailers. Regular themes include the critical intersection of estate management and property accounts payable for retail tenants, the importance of reading contracts thoroughly, lobbying for fairer business rates, and enhancing back-office processes. The episode underscores that these insights are not just relevant for retail tenants but extend to all businesses dealing with contracts and legal agreements. Lastly, Gary emphasises the value of community and invites listeners to share their thoughts and suggestions for future topics for ‘That Retail Property Guy’. 00:00 Introduction and Podcast Overview00:29 Reflecting on the Journey01:06 The Purpose Behind the Podcast01:55 Sharing Experiences and Insights03:18 Challenges and Community Building04:44 Advocating for Retail Tenants05:38 Importance of Reading Contracts06:06 Supporting Independent Retailers09:55 Navigating Changes and Compliance10:39 Encouraging Best Practices11:28 Conclusion and Call to ActionSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Updates to the Landlord & Tenant Act 1954: Changes on the Horizon for Tenants and LandlordsIn this episode of 'That Retail Property Guy,' Gary Marshall delves into potential updates to the 1954 Landlord and Tenant Act, exploring implications for commercial lease renewals. The discussion focuses on the protections it offers business tenants, the potential for legislative reform, and the broader impact on commercial landlords and tenants. Key points include the Act's protections against the loss of business goodwill, the nuances of court decisions regarding lease renewals, and the debate over whether the act needs modernising to reflect current market conditions. Two legal cases discussed are 'MVL Properties 2017 Limited versus the Lead Mill Limited' and 'Spirit Pub Company Managed Limited versus Pridewell Properties London Limited.' The episode also considers the potential ripple effects on pension funds, the necessity of lease clause modernisation as well as the possible future landscape of retail commercial property.  00:00 Introduction to the Podcast00:12 The 1954 Landlord and Tenant Act: An Overview01:39 Potential Reforms and Their Implications02:50 The Tenant's Perspective on Lease Expiry05:15 Economic Impacts on Rent and Property Value07:07 Modernising Lease Clauses11:34 Legal Cases 'MVL Properties 2017 Limited versus the Lead Mill Limited' and'Spirit Pub Company Managed Limited versus Pridewell Properties London Limited.15:08 Conclusion and Future DiscussionsRelated Episodes:Landlord and Tenant Act 1954 - superhero in security of tenureLease Lines: the crossover world of big and small retail tenantsLease Option Forensics: options to renew or break, IFRS and Landlord's ledgersSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Encore Episode: The Importance of Reading Your Lease (RTFL!) for Retail Tenants – and Your Contracts and Legal Agreements for All Types of Businesses In this encore episode of That Retail Property Guy, prompted by a non-retail listener who’d found this episode useful in his business, host Gary Marshall underlines how it’s necessary for all businesses to read, know and understand their contracts and legal agreements. He delves into fundamental lease management practices including the significance of knowing the legal tenant, understanding key dates and recognising the implications of landlord consents and repairing obligations. Gary shares valuable insights and anecdotes that highlight how understanding every detail of a lease, including clauses, conditions, and associated documents, is essential for effective estate management. He introduces the concept of RTFL (Read the F!* Lease) to underscore the necessity of thorough knowledge to avoid costly mistakes and maximise commercial opportunities.  00:00 Introduction to That Retail Property Guy00:22 The Importance of Reading the F###### Lease (RTFL)01:08 Understanding Lease Documentation01:52 Key Lease Clauses and Their Implications04:32 Landlord's Consent and Demise Extent05:38 Alienation and Repairing Obligations06:24 Case Studies and Real-World Examples12:19 Conclusion and Final ThoughtsSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Measuring Up in Rent Reviews: Key Considerations for Retail TenantsIn this episode of 'That Retail Property Guy,' host Gary Marshall discusses crucial aspects of negotiating rent reviews from a retail tenant's perspective. Emphasising the importance of carefully measuring and assessing retail spaces according to RICS, GOAD, and practical guidelines, Gary explains how comparable evidence and good neighbour relationships can influence rent negotiations. The episode also covers the significance of location, the physical layout of properties, and using methodologies in the RICS code of measuring like GIA, NIA, and ITZA to determine rental values effectively. Listeners are encouraged to seek expertise from property professionals who specialise in tenant representation. Tune in for valuable insights and strategies to help retail tenants maximise their potential in rent negotiations.00:00 Reminder of Retail Property Insights00:19 Understanding Size and Space in Rent Reviews 00:51 The Importance of Comparable Evidence01:43 Building Alliances with Neighbours02:42 Analysing Rental Values04:01 GOAD Plans04:17 Measuring Usable Space Effectively06.14 RICS Code of Measuring Practicing GIA and NIA07:27 In Terms of Zone A (ITZA) Retail Space Valuation10:40 Summarising Valuation Methodologies12:22 Final Thoughts on Expert AdviceRelated episodes:Leases, Landlords, Location Location - Demystifying Rent Reviews for Retail TenantsEvery Retail Estate Manager's Most Important Tool - RTFL (aka Read the lease and know your liabilities)Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

An Essential Guide to Knowledge Transfer in the Retail Property BusinessJoin Gary Marshall, host of That Retail Property Guy, as he discusses the critical concept of Knowledge Transfer in business. Knowledge Transfer is not just a vital part of informing current and future employees; it’s critical in preserving existing knowledge against risk of dilution or loss in risk areas including outsourcing, mergers and acquisitions, restructures and the loss of a key person through unexpected absence, leaving or retiring. In this episode, Gary emphasises the importance of sharing expertise and experiences to ensure continuous growth and preparedness within organisations. He explores various facets of knowledge transfer, from mentoring and teaching to creating comprehensive process guides. Highlighting real-life examples and personal anecdotes, Gary details the steps needed to effectively communicate and preserve valuable knowledge, and the glue that holds it all together in the recipient’s mind. This episode is a must-listen for professionals at all levels seeking to future-proof their businesses and enhance their skills. 00:00 Introduction to Knowledge Transfer00:21 The Importance of Knowledge Transfer01:10 Methods of Knowledge Transfer01:54 Challenges in Knowledge Transfer03:28 Practical Examples and Anecdotes04:21 Five Steps for Effective Knowledge Transfer05:12 Adapting to Different Learning Styles07:00 Cultural Differences in Learning07:38 The Role of Facts and Experience08:36 Knowledge Transfer in Business10:59 Creating and Maintaining SOPs13:52 The Importance of Structured Training and Follow-Up15:54 KT as the Glue for the FutureFor more KT through anecdotes! Try: Bailiffs, Billboards, Breaking and Entering: Five Cautionary Tales of Landlord EncountersRetail Property Revelations: Four Top Tales of Triumph and TurmoilSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Managing Landlord Changes in Retail Property LeasesIn this episode of 'That Retail Property Guy', host Gary Marshall discusses the complexities involved when a landlord changes or assigns a new managing agent, focusing on the impact on retail tenants. Gary explains the roles of landlords, managing agents and tenants in managing lease-based costs such as rent and service charges. He stresses the importance of diligence in verifying and reconciling billing details, especially during transitions. The episode covers the steps and checks necessary to ensure that payments are accurately directed, spotlighting the collaboration needed between estates and accounts teams to prevent errors and fraud. It underscores the necessity for tenants to stay vigilant to safeguard their financial interests in such transitions. 00:00 Introduction to the Venn Overlap of Retail Property Management 00:20 Understanding Landlord and Tenant Relationships00:34 Common Billing and Payment Issues02:16 Handling Changes in Landlord or Managing Agent04:42 Ensuring Accurate and Secure Payments05:46 Effective Communication and Due Diligence07:33 Collaborative Efforts Between Estates and Accounts08:48 Final Checks, Thoughts and Recommendations20:25 Conclusion and Next StepsFurther listening:Retail Landlords - Villains or Visionaries? Landlord & Tenant Act 1954 - Superhero in Security of TenureSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

The Major Acounting Changes Coming with FRS 102 and Their Impact on Retail LeasesHost Gary Marshall delves into the intersection of estate management and accounts payable, focusing on the impending changes to the UK's Financial Reporting Standard with FRS 102. Gary introduces 'FRED', the Financial Reporting Exposure Draft, and outlines the proposed alignment of FRS 102 with the international IFRS 16 standard. These changes will require most lease obligations to be accounted for on the balance sheet starting January 2026. The episode covers the shift from old to new accounting methodologies, the implications for retailers with leased properties, and the importance of preparing for the significant impact on financial reporting. 00:00 Introduction 00:24 Meet Fred: Financial Reporting Exposure Draft00:49 Understanding FRS 102 and GAAP01:59 Impact of IFRS 16 on Big Corporations03:00 Upcoming Changes to FRS 10204:09 Implications for Retailers and Property Leases04.36 Tweedy's Aircraft Question07:18 Calculating Lease Liabilities09:01 Effects on Retailers' Balance Sheets10:46 Preparing for the New Standards16:10 Conclusion and Final ThoughtsOther useful episodes:The Landlord and Tenant Act 1954Break Clauses Send us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding Retail Tenants' Leases and Property: Big Chains to SMEsJoin host Gary Marshall as he delves into the concept of retail tenants, debunking the myth that big retailers always own their stores. He explains why many large chains also operate as tenants and discusses the historical shifts from owning freehold properties to the sale and leaseback model. The episode covers the financial strategies, the impact of leasing on retailers' profitability, and the common challenges faced by both large retailers and small, independent businesses in negotiations with landlords. Gary emphasises the importance of effective lease management, the role of estate managers, and the nuances in leasing dynamics for different types of retail tenants.00:00 Introduction to Retail Property00:16 Understanding Retail Tenants01:01 The Evolution of Retail Ownership02:37 Sale and Leaseback Model03:36 Challenges of High Rents04:50 Big Retailers as Tenants06:43 SME Retailers and Lease Management08:14 Comparing SME and Large Retailers17:18 Location and Measuring Prime Pitch20:12 Conclusion and Key TakeawaysSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!

Understanding Lease Options to Renew or Break, and Their Impact on Business and IFRS Accounting in Retail Property In this episode of 'That Retail Property Guy,' host Gary Marshall explores the complexities of property lease options and their implications for retail tenants. Covering specific factors like the option to renew and the option to break, Gary explains how different clauses in leases can impact a tenant's balance sheet under IFRS accounting rules and their strategy for moving forward (or not). The discussion delves into the nuances of lease breaks and options to renew, potential pitfalls, and how break options might alter a business tenant's financial outlook. Gary also highlights the importance of reconciling accounts with landlords to avoid discrepancies that could invalidate break notices. Practical advice is provided to ensure that business tenants manage their leases effectively, keeping in mind the conditions and dates specified in their agreements. 00:00 Introduction to Retail Property Management00:19 Understanding Lease Options01:38 The Impact of Options to Renew or Break on Business02:21 IFRS Accounting Rules and Lease Liabilities05:38 Exploring Break Options in Leases07:39 Practical Concerns for Exercising Break Options10:42 The Importance of Accurate Landlord Ledger Reconciliation14:13 Final Tips and Cautionary Notes18:53 Conclusion and FarewellSend us a Comment, a View, a Thanks, Fan Mail and so on!And never miss an episode! Follow and like That Retail Property Guy on your favourite podcast platform - available on Apple, Spotify, Amazon and more.Find out more and message us on the podcast websiteGo to ThatRetailPropertyGuy for more on Gary Marshall, SmarterEstates and the TRPG podcast. You can also check out the TRPG Blog for reading versions of key episodes.  For our niche 'Accounts Recoverable in Retail Property' business services, visit SmarterEstatesAnd find Gary and team on LinkedIn for regular updates and community info!