Commercial

What other duties would I need to perform as a landlord a... These additional duties and responsibilities are required of a landlord or a real estate agent.
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Who manages a commercial property?

All property requires ongoing maintenance.

There are landlords who take an active and hands-on role in the management of their property and those who are happy to have an agent professionally manage their investment.

Obviously, those who manage their own property must be prepared to oversee their own repairs or organise a qualified tradesman, do their own cleaning and collection of rent. Preparation of leases is usually done by a solicitor and this is the recommended path to follow.

Frequent changes to Acts of Parliament in each State mean changes to the way the property is administered. Many of these include administrative duties like appropriate records being kept, for example receipting, access notices for inspections, inspection sheets, bond investments or bank guarantees.

In addition, they are required to:
  • Ensure the premises are clean/secure and fit for occupation at the beginning of the lease
  • Ensure all facilities are in good working order and safe
  • Be available to arrange urgent or essential repairs
It is vital that all landlords who manage their own property are completely familiar with the legislation in their state which governs industrial or commercial tenancies.
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