Property managers effectively remove the hassle from their client landlords of managing their properties on a day-by-day basis. Property management is a full-time job in itself which is why landlords often appoint the expertise of property management surveyors so that they do not have to be involved in any issues that may arise.
Property management generally involves the collection of rent from tenants and ensuring the tenants are paying rent on time but also property managers can deal with tenants who fall into arrears and/or refuse to pay the rent and any other charges that may arise. If a landlord has a property occupied by several tenants, often a service charge budget is implemented to ensure the property is maintained and the cost are fairly apportioned across all tenants. It is up to the surveyor to ensure the service charge budget is being spent accordingly and to liaise with tenants and third-party contractors who are providing such services that are needed.
If disputes arise between a landlord and tenant, the property manager can act as a mediator through their professional knowledge and experience which can lead to a stronger relationship between both parties and can have an impact especially when it comes to certain lease events later on.
Commercial leases majority of the time have protocols when it comes to the end of the lease and the property management surveyor can be involved with the lease renewal assuming the tenant wishes to remain in the property or dilapidations should the tenant choose to vacate.
There can also be events during the lease known as rent reviews whereby the landlord can review the rent to determine if there is evidence to increase the rent. The property manager if they have good local market knowledge, can be involved with exercising the rent review on behalf of the landlord.
Property management is a diverse role that surveyors perform on a variety of different assets on both commercial and residential. Here at Barker Property Consultants, we offer a complete property management service utilising the latest technology and services to streamline property management that benefits both landlords and tenants.
To find out more on how we can work with managing your property and/or portfolio, please get in touch today and speak with one of our experts.
Asset management can be overlooked by some landlords however it can become an important part of a landlord’s strategy for their property portfolio. The aim of asset management is to maximise the value of the asset which can be achieved in different ways.
For example, a property could be redeveloped and/or change of use as the property could achieve a greater level of rent if modernised and/or a different type of business who occupies in the future could positively impact the overall investment value. Another example could be to amend the current lease terms which is often known as lease re-gearing.
The re-gearing of a lease is usually to the mutual benefit of both the landlord and the tenant for example removal of a mutual break clause in a lease would provide longer security and certainty for both parties and ultimately from an investment point of view, the value would increase as a result of the longer term certain that has been agreed by both the landlord and the tenant.
Asset management is about identifying opportunities that may not typically be right in front of you straight away and the wheels of asset management can even start turning before the property has been acquired. Other services that commercial property surveyors provide can often be provided as a result of identifying opportunities to maximise the value of a property and so asset management can be a fundamental element in everything else to follow.
Asset management requires the surveyor to be fully involved with the overall strategy and thinking by a landlord to offer advice and guidance on options that may not have yet been considered. Here at Barker Property Consultants, we offer a tailor-made service to all clients by providing a hands on, personal approach and thus clients feeling they have an in-house surveyor within their team.
When it comes to finding a commercial property manager, landlords in most cases have one or two options available to choose from but how do you know you have chosen the right commercial property management company for you?
Management fees are of course a deciding factor for many landlords although consideration should be made towards the overall service offering that is to be provided by the property management company. A landlord may choose a company who has quoted the lowest fees but what level of service is to be provided to his tenants?
A poor service offering and lack of communication between the property manager and the tenants can leave tenants frustrated and disgruntled and likely to be on the lookout for another place in the future. Property management can have either a positive or negative impact on a landlord’s overall investment value for the property.
As a property manager, you need to have a good working relationship with third-party suppliers who are providing essential services to the property and the tenants who occupy. These external contractors can be an indicator of how well a property management company operates and, in some cases, can be a deciding factor whether to proceed with a particular managing agent or not.
Providing a high-quality service level offering should be at the forefront of decision making when it comes to selecting a commercial property management company. At Barker Property Consultants, we see the value in providing the highest level of service to business tenants throughout the region.
Our focus is not just on the needs of our clients but the tenants as well who are providing our landlord clients with an income. We see the value of having a well-organised property management service as our other services can play a key part in the near future for our clients.
If you are considering a commercial property manager for your property or portfolio, speak with us today to discuss how we can help you.
When it comes to selling or leasing your property, you require local expertise and a modern proactive approach that delivers the highest level of professionalism. At Barker Property Consultants we deliver this to each and every client we work with.
If you have a commercial property you would like to sell or rent, please get in touch for a free valuation and see how we can promote your property to its fullest potential.
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