Top Tips for Successful Commercial Property Asset Management Mobilization

Commercial property management involves a multitude of responsibilities. However, the post-construction phase for refurbished or redeveloped buildings can be particularly tricky. We outline 10 key tips to help property managers navigate this crucial period:

1. Early Engagement:

• Get involved at least 6 months before practical completion (PC) to establish a smooth handover from the contractor and project manager.
• Collaborative communication is key to effectively manage any snags (minor defects) identified.

2. Utilities and Infrastructure:

• Manage utility transfers seamlessly by engaging a consultant early on to avoid non-recoverable costs and ensure a smooth transition for tenants.
• Verify that all infrastructure is functional at PC to avoid operational disruptions.

3. Managing Tenant Fit-Outs:

• Prepare for multiple tenant fit-outs by coordinating logistics, maintaining building presentation, and ensuring marketing needs are met.
• Be prepared to provide additional services as needed, communicating these requirements to owners and tenants.

4. Service Charge Budget and Non-Recoverables:

• Transparent communication is crucial when setting the service charge budget and managing non-recoverable costs.
• Be prepared to adjust expectations as unknowns may arise during the process.

5. Building New Occupier Relationships:

• Make a positive first impression by preparing key documents like occupier handbooks and fit-out guides beforehand.
• Ensure a smooth onboarding process to foster a productive long-term relationship with tenants.

6. Proactive Legal Responses:

• Prepare draft documents and responses to legal enquiries (like CPSEs) early to avoid delays and streamline the leasing process.

7. Digital Strategy and Access Control:

• Develop a digital strategy including access control and apps during construction, and equip property managers with the skills to manage them effectively.
• Carefully consider costs and terms to ensure efficient day-to-day operations.

8. Warranties and Guarantees:

• Understand warranties and guarantees in place to ensure the smooth operation of the building after PC.
• Be clear on suppliers, handover documents, and operational and maintenance procedures.

9. Timely Property Management Agreement (PMA):

• Initiate the PMA process early to ensure the right teams are in place before and after PC.
• This allows property managers to familiarize themselves with the building and start mobilizing resources while the contractor is still present.

10. Client and Agent Collaboration:

• Maintain clear communication with agents and clients, especially regarding key dates, meeting client needs, and launch events.
• Include property managers in the planning process to provide necessary support.

By proactively addressing these potential challenges, property managers can ensure a successful transition and build long-lasting partnerships. Early engagement, strong relationships, and a well-defined digital strategy are key components for a smooth mobilization process.

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