(1) Advertising through various mediums of vacant properties with the view of securing tenants.
(2) Screening of prospective tenants in order to weed off troublesome and recalcitrant ones.
(3) Collection of rents on behalf of Landlords and making immediate remittance of same.
(4) Formalizing lease/tenancy agreement between landlords and tenants prior to the taking of possession by the tenants.
(5) Advising landlords on rental values of properties.
(6) Taking inventory of landlord’s fixtures and fittings in a property prior to the taking over of possession by the tenant.
(1) Collection of rents on behalf of landlords and making immediate remittance.
(2) Routine inspection of properties to ensure that the properties are adequately maintained by the tenants.
(3) Ensuring that tenants comply with their obligations under the lease agreement.
(4) Taking inventory of fixture and fittings in a property upon taking over of the management, where same has not been done before.
(5) Periodic reviews of rental to reflect or bring them into conformity with market/economic realities.
(6) Preparation of lease agreement between landlord and tenants and ensuring the execution prior to the taking of possession by the tenants.
(7) Ejection of tenants on behalf of landlords, the latter who will however bear the legal expenses.
(8) Administration of service charge account levied on the tenants.
(9) Routine inspection of properties to note their condition and reporting of same to the landlord.
(10) Ensuring that tenants carry out their end-lease obligations as enshrined in the lease/tenancy agreement upon their immediate vacation of a property.
The fee for our letting and management services in accordance with the approved scale of charges for Estate Surveyors and Valuers is 10.0% of total rent, but same could be subject to negotiation should the need arise.
SERVICE CHARGE ADMINISTRATION:
In addition to rents reserved for large multi tenanted premises, tenants are expected to pay a certain amount, usually a percentage of the rent, as service charge deposit for the administration of common services such as cleaning and lightening of common paths, fuelling, servicing and maintenance of generator, security, maintenance of lifts (if any), maintenance of landscaping.
Administering the service charge will involve the provision and supervision of human and material resources towards the overall maintenance management objective of the premises. The service charge managers are expected to maintain and present to the tenants and landlord at reasonable intervals accounts of expenditures in respect of the service charge account. The tenants will be expected to make up for any shortfall in the budget whilst any excess will be credited to their account.
BRIEF REVIEW OF PROPERTY/ASSET VALUATION
Valuation is the art and science of determining at a particular time, the value or worth of an interest in a property for a particular purpose. The asset which is the subject of any valuation exercise could be land and buildings, office furniture and fittings, plant and machinery, other movable equipment, or even goodwill. It could be necessary to carry out periodic re-valuation of the assets of companies essentially due to sporadic increase in prices occasioned by the unstable exchange rate. Nevertheless, properties and other assets of companies including furniture, land and buildings, office equipment, motor vehicle and other floating assets (including goodwill) could jointly or separately require periodic valuation or re-valuation for any or some of the following purposes;
a) Security for a loan from financial institutions,
b) Preparation of balance sheets or accounts,
c) Privatization and/or commercialization.
b) As a going concern,
c) Rating and taxation,
d) Merger and acquisition
e) For the determination of the net worth of the assets to be transferred in the case of liquidation.
f) For capital and rental purposes.