How to Manage Commercial and Retail Property Today

When you work as a commercial property manager, it is essential that you really understand the demands of the job and of your clients. Commercial property management is a specialist task. Short cuts are not possible if you really want to make your mark as a really good manager of investment property.

So exactly what does a commercial property manager do? Many things; here is a list of some of the main ones to help you understand:

  1. Market and lease the vacant space in a commercial property
  2. Establish a plan to optimise the tenant mix in the property so that the vacancies are minimised and tenant property integration works towards the greater good of sales and rental
  3. Manage the tenants in the property in accordance with the terms of the leases in the property
  4. Report to the landlord on current lease and tenant issues. Reports will cover lease, tenant, financial, maintenance, arrears, and risk management.
  5. Manage the income and the expenditure on the property so budgets are maintained on the property performance
  6. Monitor risk management issues and the performance of the essential services in the property
  7. Ensure that the property is compliant with legislation and building codes that apply to the property and the precinct.
  8. Monitor energy consumption, environmental matters, heritage exposures and compliance, plus any other building related compliance and controls.
  9. Meet with local planning authorities on any outstanding building matters that impact occupancy or use of the property.
  10. Control the marketing of any vacant space through conjunction listing agents in the local area.
  11. Tender and implement maintenance contracts for the property in accordance with the type of plant and equipment in the property.
  12. Liaise with contractors on current property maintenance issues.

A commercial property manager is in reality a well rounded property professional that understands many complex parts of property performance.

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