On appointment as Managing Agents, we offer the following management services:
We negotiate contracts, on behalf of landlords, with reputable service companies in respect of lifts, sump and booster pumps, stand-by generators, firefighting equipment etc. We also ensure that such maintenance is carried out regularly and efficiently.
In case of repairs, we engage, with landlord’s prior approval, contractors of good repute to carry out such repairs from time to time. We also supervise the contractors to ensure use of quality materials and good workmanship.
We take immediate steps to let and re-let any space that falls vacant and ensure that vacating tenants comply with their obligations in respect of re-decoration and repairs.
We advise landlords on the terms and conditions for renewal of leases for tenants upon expiry of leases after taking into account the prevailing market rents. We also negotiate on their behalf reviews of rent and service charge.
We to collect on landlords’ behalf all monies falling due for payment and submit computerized monthly statements together with the cheques for rents collected in the immediate preceding month by the 5th day of the succeeding month. We at the same time keep them informed of the necessary steps being taken to recover any rent arrears.
Ordinarily we endeavor to explain to the tenants the consequences of defaulting and should a tenant fall in arrears for whatever reason we take remedial action as provided for in the lease.
Under normal circumstances, a defaulter is served with 7 days’ notice within which to settle the arrears failure to which distress for rent action through an auctioneer follows immediately.
Under a standard lease, defaulting in rent payment constitutes a fundamental breach of the lease covenants by a tenant and continuous default would lead to termination of the lease absolutely. However, we place a lot of emphasis on rent collection in order to avoid situations where tenants fall into rent arrears.
We prepare statements of account and disbursements on monthly basis. These statements contain among other things:
It is our duty to negotiate security contracts with reputable security firms and forward the quotations to you for approval. We supervise the guards to ensure that the building, fixtures and equipment are safeguarded on a twenty-four hour basis.
We to advise landlords to ensure that appropriate cover against all risks is taken with reputable insurance companies
Quarterly management reports are prepared for purposes of keeping landlords updated on matters pertaining to:
It is our responsibility to ensure that tenants observe the covenants in their leases. We report any breaches and recommend appropriate remedial measures.
Our role here is to advise landlords on the current trends in the property market after carrying out the necessary property survey in the market.
We give to the landlord the following types of Property Management Reports to keep them informed on the status of the property under our management.
We prepare and submit to the landlords and statements of account/ disbursements indicating among other things the amount of rent collected, the arrears position of each tenant and the expenses incurred during the month, Supporting vouchers and invoices for the incurred expenses are provided for verification.
Alongside the statement of account the net cheque payable to the landlord is submitted or details of the cheque banked into the authorized landlords ‘accounts be provided.
We prepare and submit on quarterly basis property reports on matters pertaining to rent collection, condition of repair and maintenance, rent reviews, tenancy issues and current legislation relating to the property market.
We provide at a reasonable fee annual insurance reports in order to advise our clients on the current insurance value of their properties. We ensure that appropriate cover against all risks is taken with a reputable insurance company.