Relationship management is critically about relationships with your tenants and understanding their obligations under the terms of their lease.
Operational management is all about the effective management of maintenance of your asset, delivering services to your tenants and ensuring the long term integrity of the asset and avoidance of risk.
Financial management is of course critical to bringing together the whole picture of your asset, from accounting for rent and outgoings on a month basis to integrating capital programs for maintenance and improvement programs into annual budgets and future projections.
NAI Harcourts recognises the importance of these three areas and the benefits to our clients of providing them in harmony.
Our services include:
Tenancy management and reporting
Critical date management
Property lease administration reporting
Repairs and maintenance management
Refurbishment and project management of capital works programs
Billing, receivables and collection
Outgoings reconciliation and management.
Q1. How much would it cost for NAI Harcourts Pinnacle to management my property.
A. Most Commercial Tenancy Agreements are a Net rental, meaning the outgoings are paid on top of the rent. The cost to manage your property by our team will be included in the outgoings paid by the tenant.
For Gross rentals, the management fee will be negotiated.
Q2. What is the difference between a Gross rental and a Net rental?
A. A Gross rental is a set amount of rent that incorporates property expenses into the rental. The rent is often set at a higher rate per square meter.
A Net rental is the rent plus with property expenses added on top of the rent. The property expenses or outgoings as they are referred to is an estimated budget of all the expenses, this includes but does not limit:
The outgoings are reconciled each year with the rent review or at the financial year. If we come in under budget, we will refund the tenant and if we are over budget, we will invoice the tenant to recover the amount due
Q3. Do I need Public Liability Insurance for my commercial/industrial asset?
A. It is highly recommended that you always retain a current insurance policy with Public Liability at the insured amount of minimum $20mil. Although the Lease Agreement requires the tenant to keep a current Public Liability insurance policy throughout their tenancy, in the case where the tenant’s policy lapses you will be covered.
Q4. Do I need to keep receiving all the bills for my property?
A. Of course not. If you provide the utility provider (Council, Body Corp, insurance broker, Water-board etc.) with our address and email address we can receive and pay the bills on your behalf. Our postal address is C/- NAI Harcourts Pinnacle, P.O Box 566, Aspley QLD 4034 and email is firstname.lastname@example.org
Q5. Do I need to carry out regular maintenance on my asset?
A. Definitely! It is crucial to carry out regular servicing and maintenance on your property as you would rather prevent repairs then fork out hundreds, if not thousands to repair a once neglected small issue that has snowballed into large costly repair. We laisse with our trusted contactors on a daily basis to organise servicing and maintenance of the property and its machinery (air conditioner, roller door etc.) In most Leases, the tenant will be liable to service and maintenance the property.