Notes

Property Managers - 4 Stages to an Annual Commercial Property Management System
Commercial and retail property management are special disciplines of your good property agency. Especially skilled individuals are mixed up in running from the management property portfolio for landlords. As part of that process it can be profitable to possess a systemised annual procedure for the management year. You can break the season into 4 separate phases; each phase brings about another.
So annually cycled property management systems help the agent along with the respective property managers keep on top of the portfolio challenges. The greater number of properties in the portfolio, the greater this need.
There are 4 distinct and main stages for the property management year whenever you have a look at any property type (office, industrial, retail). For this discussion we are going to base the comments with a standard financial year (July to June), however some owners and managers used other 12 month cycles quite successfully (January to December is very common).
Using those 4 main stages you can successfully do other parts of a controlled method to assist the overall property outcomes. The main stages are:
Budget Planning (March to May)

Financial Results Analysis (June to September)

Tenant Mix Planning (October to December)

Property Performance Planning (January to March)
Each with the 4 stages leads to sub-issues and events. This simplifies your management year and keeps yourself on some track to control and progress on your landlords.
Taking them separately and splitting what's needed of each and every here are several guidelines which it is possible to add any other issues specific in your area or property type:
Budget Planning- review outgoings for the entire year to date, enable expected vacancies, review net and gross rentals inside market, rent review analysis and expectations over a tenant by tenant basis, option term expectations, set budget targets for income and expenditure inside coming year, maintenance contracts costs and repairs expectations, assess increase potential in all outgoings for your coming year, capital expenditure projections, and landlord funding or property holding plans.

Financial Results Analysis- actual income and expenditure results for the season, reconciliations, arrears recovery reports, budget adjustments for current year, capital expenditure analysis for end of year, net gain analysis, and property valuation review.

Tenant Mix Planning- Anchor tenants stability and satisfaction, specialty tenants location and sales performance, sales figures in retail groupings, customer demographics, product and service groupings by tenant, lease expiries, vacant tenancy marketing, vacancy controls and remedies, commissions for reletting, leases for renegotiation, tenant retention plans, marketing with the property (strongly related retail), and lease documentation review.

Property Performance Planning- Planned and unplanned maintenance allowances, capital expenditure works planning, contractors focusing on the exact property, refurbishment and renovation planning, retendering of maintenance works (where appropriate), risk management, energy management, essential services contracts planning and compliance, building code compliance, allowances for just about any heritage components or restrictions, as well as any improvements or changes for the property.
When image source follow these simple rules and stages of management, the exact property control process gets much simpler. You can now discover why a house manager is perhaps the most skilful and specialised person to work in the large commercial agency.
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