Property Management

An essential management ingredient in the current economic times is to maintain a fully leased building. In order to achieve this, Elite Property Group take the initiative to understand not only the Owners requirements but also those of the Tenant in order to accommodate the tenant's requirements in unison with Owners plan for the property.

Elite Personnel

Elite prides itself for engaging with quality competent staff who have chosen property as a dedicated career and by exchanging with ongoing training and from gaining experience from the work environment our staff can grow and nurture their knowledge and skills and abilities.

Ultimately the quality of tenants and strength of the lease covenants that are negotiated will determine the ongoing growth and management challenges of the client’s asset. To achieve these components there needs to be leadership with a robust understanding of the various property markets and the ability to propose dynamic and varied plans to provide the client with the competitive edge that is the difference.

Ongoing training and education due to changes in statutory regulations and market expectations, keeps the team up-to-date with their industry knowledge and application of it. Time and resources invested in creating an energetic dedicated team benefits the client. Decision making, accountability and performance assessment are integral components of developing a mature management group.

Duty of Care

In representing clients and tenants undertaking the tasks to achieve all of the property management functions our team are aware of the duty of care they need to exercise for the benefit fo all the stakeholders.

Client privacy and emphasis on high quality ethical relationships with clients are fundamental to the business and at no time will any staff member exchange information to the third parties that is not for the use and benefit of the property or the client.

Risk Management

Risk minimisation for all parties is an important factor as asset and property management decisions will need to be made not only on the basis of attracting and retaining tenants but to reduce the risk of a reduction in the services provided and the financial burden that may occur as a result of the lack of  maintenance.

Buildings are comprised of fixed plant and equipment and building fabric and structure and every aspect of the make-up of a building has a life cycle and managing the performance of the various aspects of these by engaging quality tradespeople reduces disruption and losses and minimises risk exposure to all parties.

Maintaining and managing efficient and effective expenditure while at the same time optimising asset life cycle is our goal. In this respect our mission is to maintain the physical infrastructure to the greatest benefit of the owner and to contain costs

We recommend that annually we meet with the property owner and review and grade the maintenance requirements of the property asset and set a 3 year time line for the instigation of various works while in the interim there are priority grading’s where the asset is to be preserved in as new condition at all times and the next tier down requires assets to be kept both visually and functionally in good condition and only respond when required and each tier down has a less urgent response rate and timeframe attached and to plan for life cycle costing

Risk management is becoming increasingly important as the law requires a duty of care by owners and their appointed representatives. Every aspect of the building assets must meet ascribed maintenance standards and these are not just restricted to occupational health and safety issues but to also interruption to service delivery and consequential damage to other assets and or persons.

All building facilities should be managed within a quality assurance framework with a strong focus on customer satisfaction.

The asset plan to be reviewed with contractors and benchmarked for the property to enable assessment of future ongoing decisions

A strategic asset management plan includes;

  • Capital development plan
  • Facilities management plan
  • Performance indicators
  • Functionality to purpose
  • Operational importance

 

Our expert services include:

  • Financial Management

    • Ensure all charges are charged and collected in accordance with the lease.
    • Ensure accurate budgets are set for the property and ensuring proper management of those budgets are carried out.
    • Ascertain how clients can improve their Asset value and establishing timeframes for set outcomes.
  • Lease Administration

    • Provide necessary prior recommendations to owners and act on instructions accordingly when conducting leasing and lease renewals, negotiations with tenants, lease extensions and options.
    • Rent Reviews are critical to the investment performance of the property and recommendations will be made periodically by the Directors of Elite Property Group to the owners accompanied by supporting evidence, negotiation strategy and timing.
    • Familiarise ourselves with the owners standard lease documents for the properties and discuss any recommendations that may be appropriate, including keeping ourselves abreast of requirements under the Commercial Tenancy Act and other regulatory changes which affect the clients properties and its tenants.
    • Maintain an updated tenancy schedule.
    • Maintain a diary of all essential dates for rent reviews, options and variable outgoings.
    • Ensure tenants comply with all lease provisions.
     
  • Property Administration

    • Establish good communication levels with all Tenants to ensure satisfaction with their occupation of the property, attend to complaints and keep the Owners appraised of any significant matters.
    • Make recommendations in respect of insurances including types of cover and sums insured and obtain independent expert advice if necessary and refer same to the Owners. Notify Owners insurers of any event affecting the property that may give rise to a claim.
    • Look to make savings on consumption of energy by ensuring air-conditioning utilises good control systems and functions efficiently. Appropriate lighting products would be implemented to maintain efficiency in power consumption and minimise tenants concerns in this area
    • When appropriate appraise the Owners of market conditions and trends to assist and facilitate in decision making on the future of varying aspects of the property.
    • To examine in detail at least bi-annually the variable outgoings expenditure against the budget and wherever possible to attempt to reduce running costs of buildings to ensure efficiency and enable owners to maximise rents without overburdening the Tenants.
    • Engage Owner’s contractors or direct labour as instructed from time to time by the Owners.
    • Provide expert advice at no additional cost in regards to refurbishment or renovation work required.
    • Building security - due to the importance of this aspect the Directors of Elite Property Group are available for any security call out 24 hours a day 7 days a week. At times, in an emergency, an executive decision at senior level is required to ensure speedy repairs with minimum cost and disruption.
    • Liaise with the Owner in relation to tenancy commitments and facilitate fit out or other special occupational requirements of Tenants.
    • Inspect the property and its services to ensure repairs and maintenance are completed satisfactorily and that common areas, car parks and services are physically operational as required with the lease document.
    • Engage competent and qualified trades and services to keep and maintain all aspects of the building in functional working order for the Tenants and public, in accordance with the lease documents.
    • Maintain the performance of contracts and contractors. Report to the Owners where changes of contractors are required.
    • With the permission of the property owner we will affix a managing agents plaque to the building to allow ready identification for the public and/or emergency services to have an immediate point of contact.
  • Property Reporting

    Provide categorised details of income for each tenant and expenditure for each property on a monthly basis.

    • Clearly detail variable outgoings paid for the month and on a year to date basis.
    • Any arrears are clearly detailed together with monthly billings and receipts.
    • Year to date summaries are also detailed on income and expenditure.
    • At the end of each financial provide year a summary of the years transactions of income and expenditure.
    • GST paid and collected is also summarised.
  • Property Development

    • We are able to extend our services to clients wishing to undertake development of new commercial properties.
    • A solid understanding of planning, zoning and Council regulations, together with providing invaluable tenancy information through the design stages encompass a functional leasable building.
    • Experience over several varied developments valued in excess of multiple millions of dollars over many years is a service we can make available.

Make an enquiry