Commercial Letting Management
Commercial Letting is one of the essential property management focus areas due to the income it generates for lessors and management agencies alike. Ineffective management can cause erroneous losses for a lessor and/or lessee, which can cause reputation damage to the management agency.
- Fee: R8 000
- Duration: 10 Notional Hours
- Online/ Self-Paced
On completing: Receive a certificate of completion downloadable from the Student Portal
Start at any time.
To equip both new employees to the Commercial Letting function, as well as employees not currently working in the Commercial Letting function, with the foundational understanding of what Commercial Letting management entails.
- Understand the Definition and Purpose of Commercial Letting Management
- Implement Commercial Property Sourcing, Listing and Marketing Processes
- Execute and Manage Leasing Process
- Manage the Inspection Process
- Manage the Maintenance Process
- Perform the Financial Management of a Commercial Property
- Perform specialised Property Management requirements
- Re-negotiate lease renewals
- Perform Vacating Process
- Commercial Letting Objectives, Employee Benchmarks, and Reporting
Learning Unit 1: Introduction to Commercial Letting Management
- Definition of Commercial Letting Management
- Purpose of Commercial Letting Management
- The place of letting management in the business
- Applicable Legislation
- Protection of Personal Information Act
- Property Practitioners Act
- Financial Intelligence Centre Act
- Consumer Protection Act
Learning Unit 2: Property Sourcing and Marketing
- Commercial Property Sourcing
- Determining market-related rentals
- Listing Procedures
- Obtaining and negotiating a Mandate and remuneration
- Internal Listing Procedure
- Profiling and Determining the target market
- Internal Letting List
- Tenant Mix
- Marketing Process
- Conduct Market Research
- Profile your Target Market
- Identify your unique rental proposition
- Develop your business brand
- Choose your Marketing Channels
- Set your Goals and Budget
- Nurture your Loyal Clients
- Listing on Media Platforms
- Monitor and review
- Working Agreement with Competitors
Learning Unit 3: Leasing Process
- Viewing Process
- Lease negotiations
- Usage of property
- Credit Vetting
- Tenant negotiation
- Rental Negotiations
- Occupation Date
- Premises requirements
- Tenant Installation Cost
- Beneficial Occupation
- Lease Period
- Owner Negotiation
- Rental Negotiations
- Occupation Date
- Premises requirements
- Tenant Installation Cost
- Beneficial Occupation
- Lease Period
- Drafting of Lease process
- Lease information sourcing (lease instruction)
- Managing the Rental Application Process
- Administrative function
Learning Unit 4: Inspections
- Managing the Inspection Process
- Booking different types of inspections:
- Listing Inspection
- In–Inspection
- Out–Inspection
- Renewal of Lease Inspection
- Building Inspection
- Analysing of Inspection reports
- Booking different types of inspections:
- Logging of Maintenance Calls
Learning Unit 5: Maintenance Calls
- Maintenance queries from lessees
- Maintenance queries from lessors
- Process of obtaining a quotation
- Following up on quotations/maintenance/invoices
Learning Unit 6: Financial Management
- Rental billing and operational cost management according to lease Agreement
- Managing utility accounts (water, electricity, and rates & taxes).
- Metered
- Billing of proportionate share
- Fixed amount billing
- Billing of annual rates and taxes, refuse removal and sewerage increases
- Arrear account management.
- Levy management (internal and external).
Learning Unit 7: Performing specialised property management requirements
- Specialised Agreements Processes
- Lease agreement
- Sublease
- Addendum
- Cession
- Cancellation of lease
- Renewal
- Liaison between client and attorneys
- Liaison between lessors and lessees
- Employees
Learning Unit 8: Renewal negotiations for Leases that are due to expire
- Expiry Notices
- Re-negotiation of renewals
- Drafting of renewal lease agreement
- Performing Lease Expiry procedures
Learning Unit 9: Vacating Processes
- Tenant Notices
- Lessor Notices
- Absconding
- Finalising Process
- Finalising lessee maintenance responsibilities
- Finalising lessee utility responsibilities
- Finalising lessee account/deposit
- Re-Letting Process
Learning Unit 10: Commercial Letting Objectives, Employee Benchmarks, and Reporting
- Balanced Scorecard
- Employee Benchmarks
- Monthly Reporting
- Agents
- Bookkeepers
- Website Listings
- Exception Reports