Property Management is an integral part of our business.
GormanKelly is recognised as a leading boutique Commercial Property Management and advisory firm with a significant local and regional portfolio of managed tenancies.
Our client base encompasses leading public companies to high net worth families to small individual investors.
We believe Property Management is about maintaining our client’s cash flow with a focus on asset enhancement through well structured, strategic Lease agreements and quality building maintenance.
Our firm is highly innovative and procedural with strategies which assist our clients to:
- Reduce operating costs
- Provide improved cash flow and enhance capital values
- Manage capital expenditure
- Retain tenants
- Reduce running costs and enhance efficiencies
- Maximize property value
- Meet compliance requirements through solid reporting and review
We also believe it is important to work with tenants on a sensible, transparent and commercial footing as tenant satisfaction assists in retaining longer term secure cash flow and, contrary to popular opinion, greatly assists us in achieving premium rents for our clients.
In order to increase flexibility and convenience for tenants, we offer a wide range of rental payment options including DEFT Payment Systems, BPAY and EFT. Tenants can pay their rent over the phone or internet, 24 hours a day, 7 days a week and can also schedule recurring monthly payments in advance, so they can ‘set and forget’ their rental payments. This option has significantly reduced arrears and helps to ensure our landlords receive their rent on time.
PERSONNEL
We pride ourselves on our exceptional, longstanding and experienced Property Management staff who understand the challenges of Management and have key skills and capabilities.
Our Property Management department is lead by Daniel DiGregorio, who ensures that our Property Managers work as a team and share their experience and knowledge.
All our Property Managers are well trained and have a thorough understanding of all aspects of commercial Property Management including the Retail Leases Act 2003, essential services, market rental levels, property maintenance and the structure of Leases.
Our Property Management team meets once a week to discuss any particular issues and relevant market rent reviews. Any arrears and general problems are systematically monitored until resolved.
In addition to our team of Property Managers, we have a leasing team dedicated specifically to handling vacancies within our Property Management department as they arise. We also have a panel of legal advisors and valuers who specialise in commercial property matters.
LEVEL OF SERVICE
The following duties form part of our standard level of service as Property Managers:
- Liaise with the tenant on behalf of the landlord for all matters relating to the tenancy
- Collect rental payments in accordance with the Lease, ensure prompt rental payments and minimise arrears
- Organise for the payment of all outgoings such as rates, body corporate fees, insurance premiums etc and arrange for appropriate adjustments and reimbursement from the tenant where applicable
- Collect GST where required
- Disburse the net rent to the landlord each month accompanied by a straightforward commercial statement outlining all financial activity on the property for the month
- Monitor lease expiries and options (further terms)
- Arrange rental reviews in accordance with the Lease
- Conduct regular inspections of the tenancy
- Attend to building maintenance where required including advising the landlord of necessary repairs and maintenance, arranging quotes from relevant suppliers and ensuring satisfactory completion of works
- Attend to existing contracts relating to building and maintenance administration
- Finalise an annual audited report of operating expenses as required by law
- Represent the Lessor at any relevant Body Corporate or Trader Association meetings as required
- Ensure legal compliance, including the Retail Leases Act 2003 and Essential Services laws
- Oversee any assignments of Lease or sub-letting arrangements
- Prepare a Condition Report for the property and ensure any make good obligations have been met at the expiry of the Lease