Melbourne Commercial are specialist commercial property managers.
Our property management services cover four key areas:
- We summarise all invoicing, payment receipts and the GST components of each. These financial reports are provided on a monthly and annual basis.
- Invoicing and collection of all rental and outgoings
- Providing your client with an Owners Statement:
- End of Financial Year Reporting if required
- Management of rent reviews
- Proactively following up rental and outgoings arrears
Minimising and Managing Client Risks & Compliance
- Whether it is lease compliance or legislation compliance, you need to be protected. In most circumstances the compliance costs are a tenant’s expense.
- Management of Essential Safety Measures
- Following up Insurance renewals and obtaining of competitive quotes if required
Maintaining the Investment
- We ensure the property is well maintained so there is no no interruption to your client’s cash flow
- Managing the exercising of tenant Options
- Managing maintenance requests
- Maintaining activity records
- Local authority liaison including review of valuation notices
- Management service contracts
- Where applicable (i.e. for new properties) we hold the builder accountable for rectifying any defects during the warranty period.
Maximising Investment Returns
We take a proactive approach to maximising the returns and value of commercial real estate investments by conducting an annual ‘Property Health Check’. This involves:
- Assessing your targeted divestment time frames: we need to understand if you’re planning on accessing your capital (i.e. selling) in the short, medium, or long term (if at all) so that our recommended strategy aligns with your plans.
- Assessing the existing lease/s: How long does the current lease (or leases) have to run. Is the rent/s at market levels? How is the tenant performing? Is there enough financial security in place? Do you have any negotiating leverage to adjust the lease in your favour.
- Assessing the property itself: What condition is it in? Is it legally compliant in all respects? Is the current use the highest and best use? If not, how readily can we reposition the property, and what would it cost?
- Assessing the relevant market, and the potential markets: is there strong investor demand for this asset class? What about tenant demand?
- Assessing the location: Is it improving in character & reputation? Are there new infrastructure projects expected? What about potential re-zoning?
- Review the finance structure: You might own your property investment outright, but this probably isn’t the optimum strategy. We can introduce you to trusted finance experts and determine a sound borrowing strategy to make the most effective use of your capital.
- We outline the ways in which your property’s value can be improved, then make clear recommendations based on your circumstances: Bearing in mind your access to capital and your risk profile, we may recommend anything from a simple refurbishment to a full renovation or redevelopment (in which case, we can complete a project feasibility study).
- We appraise the property value ‘as is’, and as if our recommendations were already completed. We are not valuers, but we are experts at property appraisals. Combing our appraisal skills with our development experience allows us to quantify how worthwhile our recommendations are.
- We develop an Action Plan and manage the process for you. The aim of the Property Health Check is to decide on what actionable steps can and will be taken to improve your assets. We will discuss whether you need our assistance with some or all of those steps.