Sherwood Greene - Property Consultants, Estate Agents, Property Valuers, Property Managers

Introduction

There are three main areas within which we categorise the property management function:

· Financial Management

· Administrative Management

· Physical Management

We comment on each aspect below and add property-specific points:

Financial Management

The administration and transparency of accounts and in particular the service charge (where applicable), is subject of growing controversy, with Occupiers concerned that costs can be unrelated to service, particularly in cases where non-institutional owners manage their own properties. Sherwood Greene has access to similar buildings under management to compare and control costs and to demonstrate complete accountability to Occupiers. Occupiers are quite willing to pay for good management, providing they are kept informed and clearly understand that they are receiving value for money.

Administrative Management

The management role extends from liaison with the Landlord and Occupiers to ensure all parties understand, agree and adhere to covenants and conditions relating to the occupation of the building. We will ensure that all Tenants moving into the property will sign formal Leases under which their occupation will be governed. Sherwood Greene will coordinate with your lawyers to ensure that the terms of the lease fully protect the Landlord’s position and maximise the investment value of the property.

The interpretation of any Lease in a changing market requires regular review to ensure that the contract meets each party’s expectations. The property manager is thus used as a conduit to create an enabling environment between Landlord and Occupier and to ensure that each recognises the concerns of the other.

Through market knowledge of current practice and standards, Sherwood Greene is well positioned to ensure that demands by both parties at any time are quantified and common ground found. Although the property manager will always be acting in the best interest of the Landlord, the occupational needs and functionality of the building must also be considered.

Physical Management

Standards at any property are critical to occupational levels and a building’s status within the market as a prime address and investment. Sherwood Greene will monitor and control the services provided, including cleaning, maintenance and security, while providing pro-active advice relating to future investment in the building to maintain high occupational standards and the prestige of the address.

Please note that Sherwood Greene does not provide or have any association with providers of cleaning, security or other related services but we will employ and supervise on behalf of the Landlord contractors who will be able to maintain the standards required. This will ensure TOTAL impartiality and will guarantee that we work in the best interests of the Landlord and the tenants rather than our own.