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How To Get A Professional Property Agency In the management of you property in the recent day, efficiency and control will be important to assist you in offering your customers the best services. Particularly, all the systems should be documented and relevant to each type of property. This means that different checklists will apply to industrial property, office property and to retail property. The checklists will also differ when it comes to property leasing versus property management. The tips below will assist you in establishing a good control process First, check the lease documentation before taking over the management of a new property. You might find that some documentation or critical dates are missing. If the tenancy schedule is given to you as part of being handed over the property, ensure that the schedule is checked completely against existing lease documentation. It is important to know that lease documents are not the only documents relating to occupancy. You can find other licensed documents such as storage, special areas of use or car parking which are also concerned with occupancy. It is important for you to examine the arrears as part of the handing over process. Ensure that any existing arrears are quantified for any action that can be required. Make that you are given all the documents and letters that relate to the pursuit of arrears. In the case there were agreements made for the existing arrears, you need a copy of the documents.
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Ensure that you familiarize yourself with the property and the tenants. It is wise for you to introduce yourself to the tenants when the property is being handed over to you. Introducing yourself to the tenants is important o reduce their anxiety about the change of the management.
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It is necessary that you know what the landlord requires of reporting and approvals. Landlords have different modes of communication and reporting process. You will find that landlords have special requirements of cash flow and expenditure for the coming years. However, complex properties with multiple tenants can have challenges in ensuring that the cash flow is appropriate. You should make sure that the property manager you choose have met all the requirements as the landlord demands. you should talk with the people involved in the property maintenance as early as possible. They will tell you about the property today and the capable maintenance failures in the future This information will help you to plan for the cash flow and expenditure appropriately over the coming years. It is necessary that you have a document showing the history of the property. It is appropriate that you have copies of the previous reports, financial activity and lease documentation if there is a possibility of having them. This information will help you in establishing a status for the existing tenancy and how the property can grow as an investment.