If you're working with a property manager, their role should go far beyond collecting rent. Property management is a business function that directly affects your investment performance. If your manager is not delivering across all areas, you're carrying unnecessary risk.

Here's what a professional property manager should be doing for you:

1. Managing Your Tenants Proactively

Your property manager should maintain direct contact with your tenants. They should respond quickly to queries, manage relationships, and resolve issues before they escalate.

You should be receiving updates on tenant feedback, upcoming renewals, arrears, and any disputes. Tenant retention starts with regular and clear communication.

2. Controlling Operating Costs

Your manager should track all building expenses, negotiate supplier contracts, and implement cost-saving measures where possible. They must know how to run your property efficiently without compromising on key services.

You should have full transparency into monthly and annual budgets, along with clear reporting on how your funds are used.

3. Handling Maintenance and Compliance

Ongoing maintenance is not just about keeping the property functional. It protects the value of your asset and ensures compliance with building regulations, health and safety standards, and lease obligations.

Your manager should:

• Plan and monitor preventive maintenance schedules.

• Manage contractor performance.

• Ensure statutory compliance is always up to date.

You should never be unsure about the state of your building or when the next audit is due.

4. Managing Lease Administration

Leases contain important financial and legal terms. Your property manager should manage these details accurately and ensure tenants are charged correctly and on time.

This includes:

• Reviewing lease escalations annually.

• Monitoring renewal dates and notice periods.

• Recovering utilities, parking, and other costs based on lease terms.

You should have confidence that every lease is being enforced properly.

5. Reporting Clearly and On Time

You should receive structured reports that show key financials, lease status, maintenance updates, and risk items. These reports must be on time, easy to understand, and actionable.

If you're not receiving regular, reliable reporting, you can't manage your property effectively.

6. Supporting Leasing and Vacancy Management

Your property manager should work closely with your broker or leasing team to support letting strategies. They need to ensure that vacant space is clean, secure, and ready for viewings.

They should also:

• Provide updated availability data.

• Facilitate access for brokers and prospective tenants.

• Assist with lease handovers and move-ins.

You should not experience delays between tenant exits and new lease starts.

7. Adding Value to the Property Over Time

A good manager looks for ways to improve the property's performance. That may include capital improvement planning, reviewing energy usage, or identifying underused areas that can be optimised.

They should bring forward ideas that align with your investment goals.

Work With a Team That Delivers More

At Spire, property management is a strategic function. We manage your asset like a business. We give you control, protect your income, and support long-term value.

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