Commercial Property Management

Commercial Property Management

Commercial Property Management

Two core duties

  1. The collection of rent and service charges and other sums owed by the tenant to the landlord.
  2. The management of the property
  • Client reporting

 

    • Developing a positive relationship with the landlord, understanding their objectives and establishing a frequency for reporting
  • Collection of monies

 

    • We report to the landlord on the reconciliation of the amount paid over.
    • We have a process in place to pursue defaults
    • We put payment processes into place
    • We understand the payment obligations contained in the documents.
    • We have a thorough understanding of the relationship between landlord and tenant
    • We obtain copies of all leases, licences and keep them safe
    • We maintain a database of occupier records and their financial position.
    • We have a mechanism in place to notify the property manager of any default or dispute.
    • We have arrangements in place to forward sums collected less deductions
  • Client Accounts

 

    • Our firm is regulated by the RICS and the property manager is a member of RICS which means we have to comply with member accounts regulations and rules of conduct for firms. This means the client can have confidence in our accounts arrangements.
  • Defaulting Occupiers

 

    • It is recommended that the property manager and landlord agree when the landlord wishes to be notified of default by an occupier. Usually this will be at the point that the property manager feels it is time to instruct a professional to take proceedings against the occupier.
  • Service Charges

 

    • We are experienced in calculating apportionments and budgets. We understand that occupiers will be anxious to ensure the budget is appropriate and that landlords will want to ensure their obligations are met. This can sometimes lead to frictions which the property manager is experienced in communicating about. Service charges are kept in a separate account with transparent records.
  • Deposits

 

    • We hold separate interest bearing accounts to hold deposits. We review the deposit deeds to understand on what terms the money is held. Interest is managed in accordance with the relevant agreements.
  • Management

 

    • Ensuring effective operation of the building – anticipating and monitoring problems, maintaining contact with occupiers and seeking to comply with the budget. Understanding the landlord legal responsibilities and keeping abreast of developments and significant changes. Maintain records to demonstrate adherence to obligations. We can agree with the landlord policies on reviewing documents and compliance.
  • Insurance

 

    • Collection of premiums. Possibly introducing the landlord to an insurer or handling claims subject to regulation.
  • Occupier liaison

 

    • Seeking to create a good relationship with occupiers. Ensuring the occupiers know who the property manager is and how to contact them. Responding to queries. Manage applications such as licence to assign or underlet or for works.
  • Health and Safety

 

    • This is a key role for property managers. Ensuring all obligations are adhered to and keeping the building safe.
  • Procurement

 

  • Sourcing contractors for the building services such as cleaning or lift maintenance. Entering into arrangements on behalf of the landlord. Setting a procedure for selecting contractors and checking their suitability. Administering contracts.

 

In addition we offer complimentary services such as rent reviews, lease renewals, letting agency etc, but fees for these services will be separately agreed.

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