McGees’ lease management practice was a natural transition from our Tenant Representation practice. Real Estate agents are well known for the management of leased premises on behalf of owners, yet these management skills were rarely applied to act on behalf of and protect the
interests of the tenant.
As large corporations and financial institutions divested themselves of property and leased back the properties they sold, they accumulated large portfolios properties they occupied as the tenant. These leased premises required specific and continual monitoring. Often this responsibility fell to the accounts department because they paid the rent, but they lacked the expertise critical to efficient and financially prudent management.
McGees manages a number of property portfolios on behalf of tenants. Our services in this area broadly include:
- Creating a register of all lease documents;
- Acting as the point of contact for owners, managing agents and/or franchisees;
- Monitoring rent and outgoing payments;
- Ensuring critical lease dates are met;
- Overseeing and determining the responsibility for repairs and maintenance;
- Providing advice and negotiating rent reviews; and
- Overseeing the vacating of premises, including making good, on the lease expiry date.
McGees’ provision of lease management services has provided clients with a level of property experience, understanding and knowledge not available in-house, resulting in significant savings.