Notes

Property Managers - 4 Stages to an Annual Commercial Property Management System
Commercial and retail property management are special disciplines of the good property agency. Especially skilled people are mixed up in the running from the management property portfolio for landlords. As part of that process it pays to experience a systemised annual way of the management year. You can break 4 seasons into 4 separate phases; each phase results in another.
So annually cycled property management systems assist the agent as well as the respective property managers keep on top in the portfolio challenges. The greater number of properties within the portfolio, greater this need.
There are 4 distinct and main stages for the property management year if you have a look at any property type (office, industrial, retail). For this discussion we'll base should be genuine on the standard financial year (July to June), although some people might owners and managers have used other 12 month cycles quite successfully (January to December is fairly common).
Using If You Plan to Manage Rental Property can successfully do many things in 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 brings about sub-issues and events. This simplifies your management year and keeps yourself some track to regulate and progress for the landlords.
Taking them separately and splitting the requirements of every here are several guidelines that you can add every other issues specific for your area or property type:
Budget Planning- review outgoings for 4 seasons thus far, allow for expected vacancies, review net and gross rentals in the market, rent review analysis and expectations on a tenant by tenant basis, option term expectations, set budget targets for income and expenditure within the coming year, maintenance contracts costs and repairs expectations, assess increase potential in all of the outgoings for the coming year, capital expenditure projections, and landlord funding or property holding plans.

Financial Results Analysis- actual income and expenditure most current listings for 4 seasons, reconciliations, arrears recovery reports, budget adjustments for current year, capital expenditure analysis for end of the season, net gain analysis, and property valuation review.

Tenant Mix Planning- Anchor tenants stability and gratification, specialty tenants location and purchasers 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 (tightly related to retail), and lease documentation review.

Property Performance Planning- Planned and unplanned maintenance allowances, capital expenditure works planning, contractors implementing the house, 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, and then for any improvements or changes towards the property.
When you follow these simple rules and stages of management, the exact property control process gets much simpler. You can now understand why a house manager is probably one of the most skilful and specialised person to be effective in a large commercial agency.
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