Commercial Property

Is your current management maximising the asset value of your property?

The aim and purpose of any Commercial Property Manager is to maximise the asset value of your property. It is a simple goal – but not always an easy task.

Many Commercial Property Managers make the mistake of thinking that their role is purely administrative. They may not be equipped to provide the requisite advice, service and expertise to keep your property increasing in value as much as possible.

This is what sets LR Reed apart – our passion for and long years’ dedication to the Melbourne property market. We stay up to par with market fluctuations, new legislation, trends, predictions – and we do it all with the interests of our valued clients at heart.

Commercial Property Management is an increasingly complicated field

Global forces. Government legislation. Market demands. These elements are combining to make Commercial Property Management increasingly more complicated. You cannot afford to have your commercial property managed by agents who do not have their finger on the pulse of how your investment is impacted by these external forces.

LR Reed will keep you informed and offer sage guidance on all matters from the GFC through to the impact of new and amended bills (such as the recent Growth Areas Infrastructure Contribution - or GIAC - amendment).

The nuts and bolts of Commercial Property Management with LR Reed

There is a lot to cover off when it comes to effective Commercial Property Management. For your benefit, we have outlined the four main areas that are integral, and detailed the services that LR Reed provide.

This is not a comprehensive list, but rather the foundations of our work with you. Please get in touch (LINK TO CONTACT) if you have any questions at all or if you have particular Commercial Property Management needs you would like addressed.

1. Systems and Standards

· Collecting rent and GST (if applicable)

· Rental arrears

· Lease options

· Rental review

· Lease renewal and expiry

· Property files including lease agreements, correspondence etc.

· Diary notes

· Legal and regulatory requirements

· Understanding and working with the Retail Leases Act 2003

· Preparing (if applicable), understanding and executing the Disclosure Statement and lease with both the tenant and landlord

· Different types of lease agreements

· Special conditions

· Notifying the Small Business Commissioner (SBC) of a new lease agreement

· Application and collection of GST

2. Financial Responsibilities

· Invoicing

· Collecting rental

· Remittance to landlords via a statement (monthly)

· Invoice outgoings (including any GST on charging)

· Preparing and distributing quarterly (if required) and annual financial reports

· Paying creditors

· General accounting

3. Liaising with both Tenants and Landlords

· New tenant enquiries, inspections etc.

· Notification of rent default

· Assisting the landlord’s solicitor

· Maintenance

· Rental reviews, annual and market review

· Lease options

· Termination - breach of lease or expiry

· Transfer of lease

· Maintaining general file notes

4. Property Maintenance

· Understanding urgent maintenance

· General maintenance - landlord and/tenant responsibility (capital or general)

· Essential service requirements

· Site inspection (this is not compulsory)