))
Property Accounts Payable: The Overlooked Specialists in Retailers' Estates-Accounts Overlap
Manage episode 493267592 series 3640106
Content provided by Gary Marshall. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Gary Marshall or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://ppacc.player.fm/legal.
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 Payable
00:26 The Unique Nature of Property AP
01:12 Challenges in Property AP
01:38 Distinctions Between Property AP and Regular AP
02:51 The Importance of Proper Training and Resources
04:32 The 'Who to Pay' Challenge
07:27 Verification and Due Diligence
14:08 Payment Methods and Issues
17:24 Final Thoughts on Property Accounts Payable
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 website
Go to ThatRetailPropertyGuy for more on Gary Marshall, Smarter Estates 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 SmarterEstates
And find Gary and team on LinkedIn for regular updates and community info!
29 episodes
Share
