Maximising Clients’ net income stream and protecting the investment
Using the extensive experience and specialist knowledge of P R Gibbs & Co Limited, Gibbs Investment are able to directly provide or oversee third party day to day management of a client’s investment.
Maximising net rental income stream for the benefit of the investor client requires pro-active management at several operational levels, including;
• Ensuring rents and service charges are demanded correctly, demanded in good time and collected on or before the due date.
• Effective procedures are in place for dealing effectively and expediently with any late payments from clients with late payment interest being charged as appropriate.
• Professionally and expertly prepared service charge budgets to ensure the proper maintenance of the common parts of the building to a high standard to underpin capital and rental values for the client’s benefit as well as creating tenant satisfaction leading to loyalty and demand for the property.
• Manage the property in accordance with the various current RICS (Royal Institution of Chartered Surveyors) UK codes of practice for property management and service charge management in respect of both commercial and residential properties.
• Put in place effective property planned maintenance programmes to support the capital and rental values along with the useful life of the building.
• Build good tenant relationships to encourage tenant loyalty and excellent landlord reputation. Also to gain valuable information about tenants businesses, future intentions and space requirements to assist with risk planning and to identify opportunities.
• Ensure tenants comply with the provisions of their leases and to take appropriate action to seek remedial action and compensation where appropriate.
Inspect the areas of the property leased to tenants and seek the tenants compliance with repairing and decorating liabilities so as to protect our client’s investment.
• Advance planning for upcoming lease events such as rent reviews, lease break dates and lease end dates to ensure timely maximisation of landlord income and to minimise any potential loss of rental income due to vacant premises.
• Arrange for statutory compliance of the property to be achieved in respect of such matters of health & safety etc.
• Manage the employment and performance of any building staff that might be engaged such as concierge.
• Engage on a competitive quote and quality basis and third party service providers/contractors providing services to any common parts of the property.
• Account to the client and remit net rental income on a monthly or quarterly basis. Pass to the client and or the client’s accounting professional all relevant financial information relating to the property.