When you are to take over a new building to manage, be it office, retail, or industrial, there are many things to look at and control IMMEDIATELY. It is easy for errors to occur and omissions to be made as the property facts are gathered. People will not tell you everything and or overlook key facts. Problems can then evolve. So, you need a checklist approach to take on a new property to manage.
What Asset Information?
Ideally, you will be getting information from the Landlord, the Tenants, the previous Managers, and the building Contractors. Asking the right questions and capturing the information logically and accurately is quite important. (NB – you can get more property management ideas in our Snapshot program right here – its free)
There are ways to control the capturing of property facts across all the elements of concern. I have given you one of my lists below.
Capturing Property Investment Information Accurately
So, I have produced this basic ‘handover checklist’ for my friends online to use in creating their own comprehensive handover process for complex buildings. Note that the list is not finite, so you can add your local building factors that should apply.
I hope the list is of some value in keeping the property management processes under control. You can get the checklist for property management below: