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 people are involved in the running from the management property portfolio for landlords. As part of that process it's good to get a systemised annual procedure for the management year. You can break the year into 4 separate phases; each phase brings about the next.

So annually cycled property management systems help the agent and the respective property managers keep on top with the portfolio challenges. The greater number of properties in the portfolio, the bigger this need.

There are 4 distinct and main stages on the property management year whenever you examine any property type (office, industrial, retail). For this discussion we will base your comments ought to over a standard financial year (July to June), although some people might owners and managers purchased other 12 month cycles quite successfully (January to December is quite common).

Using those 4 main stages it is possible to successfully do other parts of a controlled strategy to help 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 in the 4 stages contributes to sub-issues and events. This simplifies your management year and keeps yourself some track to manipulate and progress for your landlords.

Taking them separately and splitting what's needed of each here are a few guidelines that you'll be able to add every other issues specific for a area or property type:

Budget Planning- review outgoings for the year currently, permit expected vacancies, review net and gross rentals in the 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 most outgoings for the coming year, capital expenditure projections, and landlord funding or property holding plans.

Financial Results Analysis- actual income and expenditure results for the entire year, 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 performance, specialty tenants location and purchases 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 of the property (strongly related retail), and lease documentation review.

click site Planning- Planned and unplanned maintenance allowances, capital expenditure works planning, contractors implementing 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 any heritage components or restrictions, and then any improvements or changes on the property.

When you follow these simple rules and stages of management, the property control process gets much easier. You can now understand why a property manager is perhaps essentially the most skilful and specialised person to operate in the large commercial agency.