When it comes to managing a commercial or retail property, the leases are the important factors that should be checked and reviewed for important things such as critical dates, lease options, and rent reviews.
That can be done as part of the property handover and certainly that should be comprehensive and complete so that you know all the issues that can impact occupancy, rental, and expenditure in the property and for the landlord client.
Here is a video for commercial property managers and retail center managers discussing the importance of lease management. Two of the detailed factors covered include:
- Critical lease dates
- Filing systems for individual leases
If you manage properties with multiple tenants you will find the video helpful and detailed as to the lease documentation strategies that you must cover.
It doesn’t matter how many properties you control, or clients that you have in your portfolio, it is essential that you know your tenants, and the leases.