This unit of competency supports the work of those involved in analysing client objectives and formulating relevant strategies to enable the right market mix of tenants to be targeted.

Nil

ELEMENT

PERFORMANCE CRITERIA

1Determine tenancy mix requirements.

1.1 Client preferences, needs and expectations are identified according to organisational requirements.

1.2 Information is gathered and analysed to determine market conditions according to organisational requirements.

1.3 Business plans are examined to determine short and long-term goals according to organisational requirements.

1.4 Tenancy mix objectives and time lines are negotiated and agreed in consultation with relevant people.

2Develop tenancy mix strategy.

2.1 Segmentation criteria are chosen and applied to determine tenancy mix that meets client and building capacity requirements.

2.2 Tenancy mix is sought that adds value to property and encourages effective competition according to income projections.

2.3 Draft tenancy mix strategy is prepared and distributed to relevant people to obtain feedback according to organisational requirements.

2.4 Tenancy mix strategy is reviewed to ensure compliance with relevant regulations and legislative requirements.

2.5 Marketing options that best meet requirements of tenancy mix strategy are identified and discussed with relevant people according to organisational requirements.

3Implement tenancy mix strategy.

3.1 Lease and tenancy contracts are documented and summarised according to organisational requirements.

3.2 Market conditions and industry trends are assessed to determine appropriate benchmarks.

3.3 Tenancy mix strategy is monitored and variances are recognised and documented according to organisational requirements.

3.4 Contingency plans are prepared and implemented according to organisational and legislative requirements.

4Review tenancy mix strategy.

4.1 Tenancy mix strategy is reviewed and evaluated in consultation with client and other relevant people using appropriate communication strategies.

4.2 Systematic review processes are established and evaluation methods are identified and used to evaluate strategy processes and outcomes.

4.3 Evaluation results are prepared in required format, style and structure and presented to relevant people within agreed timeframes.

4.4 Recommendations for improvement of strategy are presented to relevant people according to organisational procedures.

4.5 Business equipment and technology are used to maintain documentation securely and according to legislative and organisational procedures.

This section describes the essential skills and knowledge and their level, required for this unit.

Required skills:

analytical skills to interpret documentation, analyse current market conditions and future trends, and devise tenancy mix strategies

communication skills to consult with clients and potential tenants

computing skills to access the internet and web pages, prepare and complete online forms, lodge electronic documents and search online databases

interpersonal skills to relate to people from a range of social, cultural and ethnic backgrounds and varying physical and mental abilities and to obtain feedback

literacy skills to interpret written and oral information

planning skills to estimate financial projections and determine short and long-term goals

presentation skills to prepare and deliver marketing options to clients

problem solving skills to develop and implement contingency plans and select appropriate marketing options

technical skills to develop and complete reports.

Required knowledge and understanding:

a range of tenancy mix strategies

common lease terms and conditions

industry benchmarks

methods and techniques to analyse market segments

organisational and professional procedures, ethical practices and business standards

relevant federal and state or territory legislation and local government regulations related to:

anti-discrimination

consumer protection

environmental issues

equal employment opportunity (EEO)

financial probity

franchise and business structures

industrial relations

OHS

privacy

property sales, leasing and management

relevant local market conditions

state or territory and local government planning processes

types of property leases.

Overview of assessment

This unit of competency could be assessed through practical demonstration of analysing client objectives and formulating a relevant strategy to enable the right market mix of tenants to be targeted. Targeted written (including alternative formats where necessary) or verbal questioning to assess the candidate's underpinning knowledge would provide additional supporting evidence of competence. The demonstration and questioning would include collecting evidence of the candidate's knowledge and application of ethical standards and relevant federal, and state or territory legislation and regulations. This assessment may be carried out in a simulated or workplace environment.

Critical aspects for assessment and evidence required to demonstrate competency in this unit

A person who demonstrates competency in this unit must be able to provide evidence of:

documenting a tenancy mix strategy that outlines the targeted market segment

knowledge of organisation's practices, ethical standards and legislative requirements associated with analysing client objectives and formulating a relevant strategy to enable the right market mix of tenants to be targeted

obtaining feedback on draft tenancy mix strategy and amending accordingly

profiling tenancy needs of client after examining client business plans

selecting and implementing suitable marketing strategies.

Context of and specific resources for assessment

Resource implications for assessment include:

a registered provider of assessment services

assessment materials and tools

candidate special requirements

competency standards

cost and time considerations

suitable assessment venue and equipment

workplace documentation.

Where applicable, physical resources should include equipment modified for people with disabilities.

Access must be provided to appropriate learning and/or assessment support when required.

Assessment processes and techniques must be culturally appropriate, and appropriate to the language and literacy capacity of the candidate and the work being performed.

Validity and sufficiency of evidence require that:

competency will need to be demonstrated over a period of time reflecting the scope of the role and the practical requirements of the workplace

where the assessment is part of a structured learning experience the evidence collected must relate to a number of performances assessed at different points in time and separated by further learning and practice with a decision of competence only taken at the point when the assessor has complete confidence in the person's competence

all assessment that is part of a structured learning experience must include a combination of direct, indirect and supplementary evidence

where assessment is for the purpose of recognition (RCC/RPL), the evidence provided will need to be current and show that it represents competency demonstrated over a period of time

assessment can be through simulated project-based activity and must include evidence relating to each of the elements in this unit.

In all cases activity and must include evidence relating to each of the where practical assessment is used it will be combined with targeted questioning to assess the underpinning knowledge. Questioning will be undertaken in such a manner as is appropriate to the language and literacy levels of the candidate and any cultural issues that may affect responses to the questions, and will reflect the requirements of the competency and the work being performed.

Clients may include:

bankers

company boards

fund managers

fund providers

institutions

internal and external property groups

owner-occupiers

private investors.

Client needs and expectations may relate to:

income stream projections

increased profile of assets

long-term tenancy contracts

short and long-term goals.

Organisational requirements may be outlined and reflected in:

access and equity principles and practice guidelines

business and performance plans

complaint and dispute resolution procedures

goals, objectives, plans, systems and processes

legal and ethical requirements and codes of practice

mission statements and strategic plans

OHS policies, procedures and programs

policies and procedures in relation to client service

quality and continuous improvement processes and standards

quality assurance and procedure manuals.

Information that may be used to determine market profiles and conditions may include:

existing research data

industry sources

original research

response-based research

surveys.

Market conditions may relate to:

availability of alternatives

business confidence

economic conditions

level of competition.

Tenancy mix may cover:

length of tenancy

location

number of tenants

size of tenancy

type of business and tenancy

type of tenant customers.

Relevant people may include:

advertising agencies

architects

business consultants

clients

managers

members of industry associations

real estate agents

solicitors

taxation and accounting practitioners.

Segmentation criteria to be used may include:

attitude

business characteristics

consumer requirements

demographics

desired benefits

lifestyle

product and service usage

social and cultural factors.

Building capacity requirements may include:

amenities

associated conditions, such as noise, dust and environment

building functions

car parking

compatible uses

maximising net lettable area

parcel size

space pattern.

Feedback may include:

formal and informal discussions, reviews and evaluations with:

existing and previous clients

peers, colleagues and managers

information provided by others involved in a professional capacity, both internal and external to the organisation.

Regulations affecting tenancy mix strategies may include:

federal, and state or territory legislation regarding retail and commercial tenancy

federal, and state or territory zoning requirements

corporations law

retail and commercial leasing Acts and guidelines

Trade Practices Act 1974.

Legislative requirements may be outlined and reflected in:

Australian standards

codes of practice covering the market sector and industry, financial transactions, taxation, environment, construction, land use, native title, zoning, utilities use (water, gas and electricity), and contract or common law

environmental and zoning laws affecting access security, access and property use

general duty of care to clients

home building requirements

local regulations and by-laws

privacy laws applying to owners, contractors and tenants

quality assurance and certification requirements

relevant federal, and state or territory legislation that affects organisational operation, including:

anti-discrimination and diversity

environmental issues

EEO

industrial relations

OHS

strata, community and company titles

tenancy agreements

trade practices laws and guidelines.

Marketing options may include:

business-to business marketing

direct marketing

local, regional, interstate and national

mail-outs

promotional strategies, such as:

advertising

canvassing

image and presentation

pricing

public relations

community education

target markets by service type

use of internet and email.

Communication strategies may include:

active listening

consultation methods

culturally inclusive and sensitive engagement techniques

questioning to clarify and confirm understanding

seeking feedback

using language and concepts appropriate to cultural differences.

Evaluation methods could be qualitative or quantitative and may include:

checklists

cost data analysis

expert and peer review

interviews

observation

questionnaires

review of quality assurance data.

Business equipment and technology may include:

computers

data storage devices

email

facsimile machines

internet, extranet and intranet

photocopiers

printers

scanners

software applications, such as databases and word applications.

Unit sector

Property development, sales and management

Property operations and development

The required outcomes described in this unit of competency contain applicable facets of employability skills. The Employability Skills Summary of the qualification in which this unit of competency is packaged, will assist in identifying employability skills requirements.