PROPERTY AND ASSET MANAGEMENT
Property management is more than merely collecting the rent, paying outgoings and arranging repairs.
Many agents merely provide this bare minimum.
This is where Propdev Realty Group differs.
In addition to these services we provide comprehensive asset management advice to ensure your property performs strongly today and for years to come.
As a part of a comprehensive asset management service, Propdev will give careful consideration to the following:
It is important the lease between you and your tenant is structured well, so it is easy to follow and uses clear, easy to understand language, this helps to reduce areas of ambiguity between the parties in relation to their respective obligations. The review of the lease documentation and ensuring all new leases are appropriate for the class of property is an important first step.
LEASE EXPIRY ANALYSIS
Do you know which tenants will be renewing?, which are leaving? Which of the years ahead you will be facing the risk of vacancies and significant drops in income?
It is important to plan ahead to ensure you have a strategy for dealing with lease expiries and potential vacancies.
This is not just about marketing the property when you need to fill a vacancy, but more importantly how is your property positioned in the marketplace?
What can be done to make your property more attractive to prospective tenants?
DEVELOPMENT POTENTIAL & UPGRADES
Can your Net lettable Area be increased through extensions or remodelling? This could add significant value to the bottom line.
Propdev can assess the development potential of your property , and prepare a feasibility analysis outlining return on costs and the viability of the project.
Are all your eggs in the one basket?
Is your income at risk due to a portfolio which is heavily weighted in one property class, it may be worthwhile considering diversifying into other asset classes, Propdev can assist with this analysis and manage the portfolio re-weighting process.
PROPERTY CONDITION REPORT
Are imperative for both the tenant and the owner and helps to document routine inspections and eliminate disputes between the parties.
This is especially important for larger lease commitments where the owner may be contributing incentives, you want to be sure that your tenant has the financial stability to meet its lease commitments and that you have the checks and balances in place in terms of guarantees and bonds.
MAINTENANCE & CAPITAL IMPROVEMENT PLANS
Do you know the difference between responsive, cyclical, statutory and planned maintenance? Are you currently receiving a plan from your property manager in relation to these maintenance types. Are you aware of the capital expenditure you are likely to incur over the next five years to keep your property relevant and viable in the market place?
In addition to the above, Propdev Realty Group provides its clients with the benefit of state of the art property management software which allows owners an online access portal, this means you have the ability to have the finger on your properties pulse at all times, through this software we can manage maintenance and creditors online whilst providing owners with accurate financial reporting.
Call Frank Gotsis on 0410 677 410 should you wish to discuss your properties management in more detail.