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4 months ago by Stephen Langton

Working in Property - A Definition of a Commercial Property Manager/Managing Agent

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Managing agents should adhere to these key principles:

  • Manage the property on behalf of the landlord
  • Manage third party suppliers to carry out those operations that property managers do not do themselves
  • Provide a primary duty of care to the landlord, secondary responsibility to the occupiers and, in some  cases, a duty of care to parties providing finance for the properties being managed

Commercial property managers' core duties include:

  • Liaising with and reporting to the landlord
  • Collecting monies
  • Clients' accounts
  • Dealing with defaulting occupiers
  • Service charges
  • Deposits held
  • Managing the building(s)
  • Management policies
  • Insurance relating to the property
  • Liaising with occupiers
  • Energy management
  • Building management systems (IT)
  • Health and safety/fire safety
  • Management fees

Commercial property managers can also become involved in:

  • Acquisition and sale support and advice
  • Rent reviews; rating reviews
  • Letting agency advice
  • Dilapidations advice
  • Specialist issues such as the management of mixed-use developments