TENANCY/LEASE MANAGEMENT

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TENANCY/LEASE MANAGEMENT by Mind Map: TENANCY/LEASE MANAGEMENT

1. coordination between contractors

2. (1) Rights and duties of tenants and landlords or agents during the lease or tenancy agreement are identified in line with ethical standards, legislative requirements and agency practice. (2) Inspections of managed properties are conducted and condition reports are prepared in line with lease or tenancy agreement, landlord instructions, legislative requirements and agency practice. (3) Rental moneys are collected and processed in line with lease or tenancy agreement, legislative requirements and agency practice. (4) Reports are accurately prepared and routinely communicated to landlord on rental moneys collected or in arrears. (5) Strategies for collection of rental arrears are discussed with and agreed to by landlord prior to implementation of collection process. (6) Procedures for collection of rental arrears are implemented in line with landlord instructions, legislative requirements and agency practice. (7) Tenants in arrears are routinely followed up to obtain payment or vacant possession in line with landlord instructions, legislative requirements and agency practice. (8) Where necessary, claims against rental bonds are prepared and forwarded to the appropriate authority within specified time-frame of the outgoing property inspection. (9) Rent increases and reviews are conducted in line with lease or tenancy agreement, legislative requirements and agency practice.

3. shall coordinate that the delivery of vacant possession and handling/taking over are properly executed when tenants are moving in or moving out (this may include full reinstatement of the demised premises to its original condition)

4. (1) Documentation required to terminate a lease or tenancy agreement on behalf of landlord is prepared in line with landlord instructions, legislative requirements and agency practice. (2) Notice is given to tenant according to client instructions, legislative requirements and agency practice. (3) Rights of tenant with regard to terminating a lease or tenancy agreement are observed in line with legislative requirements and agency practice. (4) Property inspections are conducted in line with client instructions, legislative requirements and agency practice. (5) Effective interpersonal communication techniques and negotiation skills are used with the landlord and tenant to obtain satisfactory conclusion to tenancy. (6) Relevant procedures are implemented on behalf of landlord to claim an entitlement to retain part or all of security deposit or bond money, if required, in line with landlord instructions, legislative requirements and agency practice. (7) Effective interpersonal communication techniques and negotiation skills are used to clarify issues and resolve disputes with landlords and tenants emanating from the termination of leases and tenancy agreements. (8) Regular reports are provided to landlord on termination process and outcomes in line with agency practice.

5. ensure proper documentation and records are kept on the Client's property and inventories in good condition, with the exception of fair wear and tear

6. be well versed with legal provisions relating to tenancy/lease matters as well as those under the Contracts Act 1950 [Act 136]

7. ensure that the covenants expressed or implied, are observed by the tenant or the lessee, under the tenancy/lease agreement throughout the duration of the tenancy/lease

7.1. management of utilities and services

8. Manage renewals of leases and tenancy agreements.

8.1. (1) Property is inspected and an accurate report is produced on property conditions and maintenance requirements in line with legislative requirements and agency practice. (2) Property condition reports and rental details are provided to tenants prior to renewal of lease or tenancy agreement. (3) Conditions of lease or tenancy agreement renewal are negotiated and agreed with all parties. (4) Lease or tenancy agreement renewal documentation is prepared and provided to tenant and finalized in line with legislative requirements and agency practice.

9. monitoring reinstatement of premises upon termination or expiry of the tenancy or lease

10. ROLE OF PM

10.1. billings

10.2. collection and disbursement of rents

10.3. tenants' liaisons

11. PM'S SCOPE OF WORK

11.1. implement relevant processes for the collection of rents and/or other relevant charges such as service charges and car park charges

11.2. keep proper accounts of all monies collected

11.3. shall diligently monitor and enforce the covenants without fear or favor at all times

11.4. have a good understanding of the covenants that are entered into between landlord/lessor and tenant/lessee in the tenancy/lease agreement

12. EXPLANATIONS

12.1. What is the difference between a rental agreement and a lease?

12.1.1. (1) A rental agreement provides for a tenancy of a short period (often 30 days) that is automatically renewed at the end of the period unless the tenant or landlord ends it by giving written notice. For these month-to-month rentals, the landlord can change the terms of the agreement with proper written notice. (2) A written lease, on the other hand, gives a renter the right to occupy a rental unit for a set term -- most often for six months or a year but sometimes longer -- as long as the tenant pays the rent and complies with other lease provisions. The landlord cannot raise the rent or change other terms of the tenancy during the lease, unless the tenant agrees. (3) Unlike a rental agreement, when a lease expires it does not usually automatically renew itself. A tenant who stays on with the landlord's consent after a lease ends becomes a month-to-month tenant, subject to the rental terms that were in the lease.

12.2. Implement conditions of lease or tenancy agreement.

12.3. Manage termination of lease or tenancy agreement on behalf of landlord.