James Bangerter, Commercial Property Management Team Leader, provides some insight on what Commercial Landlords should be thinking about for 2021.
What a year 2020 has been for Commercial Tenants and Landlords, almost everyone has found parts of the year a real struggle and most will be looking forward to a more settled and productive 2021.
This last year has seen a lot of negotiating between parties in regards to rent relief and they have had to rely on their Property Managers to facilitate these negotiations. Here at APM we have found a number of Landlords that have been managing their own property have found negotiations difficult and are now looking at the benefit of using our services to deal with this and take advantage of other benefits that come with professional property management.
This coming year we will see the need for Landlords to focus on reviewing the management of their commercial portfolio to ensure their Tenants are encouraged to extend leases, improve their buildings to attract new Tenants in a competitive market, and assist where possible to enhance their Tenants businesses as much as possible.
For the year 2021, Commercial Landlords should focus on making sure properties are well maintained, planned upgrades get completed, budgets are reviewed to ensure charges from suppliers are competitive, and there should also be a focus on whether tenants are being charged correctly and annual wash ups are accurate.
With more emphasis on Health and Safety requirements, Landlords also need to be checking whether the property’s Health and Safety Plans are up to date, Asbestos registers are accurate and tradespeople are correctly certified and insured.
These are some of the things that can help foster good relationships between Landlords and Tenants which we at APM recognise as imperative, especially after a year like 2020. Our Commercial Team are experts at having those difficult discussions with both parties when necessary, as well as helping facilitate compliance and legislation requirements.
We look forward to a more prosperous year for everyone and believe a focus on team work will result in a much more positive 2021.
From the Commercial Department – have a wonderful Christmas and we look forward to seeing you in the New Year.
Team Leader – Commercial Property Management
Auckland Property Management
We would love to hear from you! Contact us if you have any questions around the management of your commercial property – we offer a free 30 minute consultation. Please complete the below online contact form and our team will be in touch.