Roger Hannah has a wide variety of agency functions that clients can call upon, but what many people don’t know is that the managed property portfolio is overseen by Robyn, our property management agent, who can take us through a typical day.
In the last financial year, we achieved over 50 lettings for our managed properties and the highest fees earned in the department in the last 4 years. The new financial year is also off to a busy start, with 11 leases already completed since the start of April.
My day starts early in North Manchester to meet a new tenant who will be leasing a shop for her floristry business. Having only been vacant for one day, a fair deal was reached with a good rent achieved but also a rent-free period to allow the tenant to fit out and build up a client base. I ensure I arrive early to inspect and make sure everything is in working order to be handed over. I carry out checks, take photos, and complete an inventory. When the tenant arrives, we agree that she is happy with the condition of the shop and will answer any questions. The tenancy agreement can now be signed, which was sent a couple of weeks prior to allow her time to read through and gain any legal advice she may wish to take. Once signed, the keys are handed over, and she can begin her new venture.
Next, over to Penketh in Warrington to conduct an outgoing inspection with a longstanding tenant on our established retail parade, Honiton Way. The tenant has worked on site for the last 40 years but has decided to take his well-earned retirement. He has completed the Dilapidation works required for the shop, so it has been handed back to us in excellent condition, ready to go on the market, which enables me to do two inspections in one day: the ‘outgoing inspection’ and the ‘inspection to market’.
If a property is handed back to us in a condition where work is required, I will conduct an outgoing report to list all the necessary work to be done. This then goes to our in-house Facilities Team, whom I work closely with to verify the works are carried out and the properties are marketed in a satisfactory condition. Once the works are completed, I then go back to ‘Inspect to Market’.
Having collected the keys from the tenant, I take photos of the property internally and externally for the outgoing inspection and also to advertise the property. I create a floor plan while on site and take measurements of the shop on an ITZA basis, so once back at the office, I can carry out a comparable evidence search to ensure the rent is in line with the market. I already have a lot of interest in this property, so it shouldn’t be vacant for long.
It is now midday, and in advance of returning to the office in Manchester City Centre, I drive to another managed property. Aston & Greys Court in Warrington is a well-established industrial estate that has been in high demand over the last year, leading to our achieving 100% occupancy of the estate. Here, I inspect a unit for sale that will soon be available, and I have also arranged to meet a few interested parties. I carry out the inspection with my usual checks until my viewings arrive. We aim to stick to a 15-minute viewing for each interested party to ensure that social distancing can take place while also giving the viewer time to look around and ask me any questions they may have. Once the viewings are over and I have the contact details of those interested in putting in an offer, I lock up and head back to the office.
I spend the afternoon catching up on my emails, returning all calls, and carrying out the work required from the morning. Starting with my first deal in North Manchester, I can now complete the ‘New Tenant Form’ providing our Finance Department with all the information about the letting and terms agreed, who then instruct our PM Department to provide the new tenant with our Tenant Handbook and notify the local authority and insurers of the new occupier.
Next, I complete the outgoing report for the premises at Honiton Way and ensure that no further work is required. I can now do my market value research, discuss the terms with the property manager, create the brochure to make the property live on our website and Rightmove, and await the viewing requests.
Finally, I contact those who viewed the industrial unit at Aston Court, providing them with the terms and costs we discussed and requesting their information if they wish to make an offer for me to discuss with the landlord.
It is very rewarding to be able to take on a premises once it is vacant, ensure the necessary works are completed to be in a position to market, and then also source the new tenant. This allows me to deal with the entire process from start to finish. I find that being part of an integrated service that is all delivered from one office allows us to provide the very best level of service to clients and make sure we maximise the occupation of their properties.