Property Management Services | Homeshikari

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Commercial Property Management

• Homeshikari

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Commercial Property

• Commercial property management requires handling
  of non-residential properties for example,
  retail spaces offices, shopping centres, storage
  facilities and industrial buildings.
• Commercial property management services encloses
  the tasks and duties of operating a property that
  produces good income.

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Role of Commercial Property Manager

• A commercial property manager must be capable of
  prioritizing and executing every different tasks.
  
• Property Manager's job role includes advertising,
  marketing and leasing processes.
• This is mostly because the tenure of commercial
  leases are mostly long compared to other
  properties, with built-in renewals and rental
  escalations, marketing and lease negotiation
  processes runs long.

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• There are number of well-known firms available in
  Bangalore that provide services for property
  management.
• Their goal mostly like the rest of the well-known
  firms in India, is to simplify ownership and
  maximize returns of real estate assets through
  professional commercial management approach.

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Responsibilities of Property Management

• Mostly, the landlord or the owner of the property
  signs a lease or rental agreement with tenants.
• People who own large properties sometimes hire a
  resident property manager or a property
  management firm for the purpose of handling
  various land lording tasks.
• The manager here would not simply sign the rental
  agreement, instead, he has to give information to
  the tenant about whom they are authorized to
  receive notices, such as a tenants notice to end
  a tenancy.

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Responsibilities of a Property Manager

• If you appoint a manager to receive legal papers,
  make sure they are easily available to the
  tenants for the same purpose while they are aware
  of all the managerial responsibilities and are
  designated the power of authority limited by the
  owner's will and wish.
• You need to be on the same page regarding your
  managers responsibilities, schedule, pay, and
  other important terms.

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Expectations of Landlords about Tenants

• Receives the rent from the tenant on their behalf
  
• Handles and maintains the property
• Deals with disputes and sorts out any issues at
  the end of a tenancy
• To gather it all, the property manager partially
  takes control over the landlords property and
  their investment and still work for the property
  owner.

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Details to be shared with Property Manager

• Property Manager would require the full legal
  names of the landlord and the tenant in all
  tenancy agreement applications.
• In case of an Individual Include the full legal
  name on the tenancy agreement. Landlords should
  always verify the tenants identity at the
  beginning of the rental term.
• In case of a firm Include the name of the legal
  company instead of the trading name or the name
  of the franchise owner.
• In case of a trust Include the names of the
  trustees including the name of the trust.

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The Conclusion

• Commercial Property Management exists with
  regards to a variety of responsibility,
  obligation, and occupation within the commercial
  real estate field.
• At one end, Commercial Property Management will
  serve as a description of the process and
  procedures untapped within any administration
  inclusive of the upkeep, maintenance, service,
  and provision of the commercial property.
• On the other end, Commercial Property Management
  applies to legislative act and legal requirements
  that must be adhered before undertaking the
  commercial property.