Learn about the role of commercial property managers and read up on aspects of commercial property management such as best practice.
Chartered surveyors often undertake the management of commercial property, acting as 'managing agents' or 'commercial property managers' on behalf of landlords.
Our guidance note Commercial property management in England and Wales 2011 is an excellent introduction to the activities, duties and responsibilities of a commercial property manager in England and Wales, detailing best practice applicable to all our members but relevant to all commercial property managers.
Chartered surveyor managing agents should adhere to these key principles:
- Manage the property on behalf of the landlord
- Manage third party suppliers to carry out those operations that property managers do not do themselves
- Provide a primary duty of care to the landlord, secondary responsibility to the occupiers and, in some cases, a duty of care to parties providing finance for the properties being managed
Commercial property managers' core duties include:
- Liaising with and reporting to the landlord
- Collecting monies
- Clients' accounts
- Dealing with defaulting occupiers
- Service charges
- Deposits held
- Managing the building(s)
- Management policies
- Insurance relating to the property
- Liaising with occupiers
- Energy management
- Building management systems (IT)
- Health and safety/fire safety
- Management fees
Commercial property managers can also become involved in:
- Acquisition and sale support and advice
- Rent reviews; rating reviews
- Letting agency advice
- Dilapidations advice
- Specialist issues such as the management of mixed-use developments
Commercial property managers operating in England and Wales must be familiar with the principal legislation listed in Commercial property management in England and Wales 2011 , covering health and safety, landlord and tenant, and also relevant employment law (all available at legislation.gov.uk).
Client landlords, in turn, must provide property managers with adequate information regarding any managed property and the relationships with occupiers.
Further RICS information is available in our guidance note Service charges in commercial property 2011.
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Commercial rent reviews›