A Lease Signing Isn’t the End of the Work

1 Oct

aaron latitudeco

A Lease Signing Isn’t the End of the Work

Getting a tenant into a commercial space is a big milestone, but signing the lease is really the beginning of the next phase of managing the property.

Once the paperwork is complete, there are still plenty of details that need to be handled before and after the tenant moves in. For property owners in Fort Collins, Loveland, Windsor, Timnath, and surrounding Northern Colorado communities, having someone responsible for those details can make the transition much smoother.

Before the Tenant Moves In

Depending on the lease and the property, there may be several things that need to happen before the tenant receives the keys.

The space may need repairs or improvements completed. Vendors may need access. Utilities may need to be transferred or confirmed. Insurance documents may need to be collected and reviewed. The condition of the suite may also need to be documented before occupancy.

There can also be important dates buried in the lease that need to be tracked, including possession dates, rent commencement, improvement deadlines, and other tenant obligations.

None of those items are especially complicated on their own, but there can be a lot of them happening at the same time.

Once the Tenant Is in the Space

After moving in, the focus shifts to the day-to-day operation of the property.

Tenants need to know who to contact when something goes wrong. Maintenance requests need to be reviewed and routed to the right vendor. Invoices need to be checked. Routine services such as HVAC maintenance, landscaping, snow removal, or common area upkeep need to stay on schedule.

Someone also needs to keep an eye on the property itself.

Regular property visits can help identify things a tenant may never report, such as exterior damage, drainage problems, lighting issues, landscaping concerns, or maintenance that is starting to fall behind.

The Lease Still Needs Attention Too

A signed lease does not get filed away and forgotten.

Throughout the lease term, there may be rent increases, renewal dates, insurance requirements, maintenance responsibilities, operating expense reconciliations, and other deadlines that need to be monitored.

For an owner managing several tenants or multiple properties, keeping track of those details can quickly become a significant part of owning the assets.

This is one area where third party property management can be especially helpful. The property manager can keep those obligations organized while keeping the owner informed when a decision or approval is needed.

Good Management Starts After the Deal

Leasing and property management serve two different roles, but both affect the long-term performance of a commercial property.

Getting a tenant through the door is important. So is making sure the property continues to operate well once they are there.

For commercial property owners throughout Northern Colorado, third party property management can provide consistent oversight of the property, tenants, vendors, lease requirements, and financial activity long after the lease has been signed.

Latitude Commercial provides third party property management services throughout Colorado. To find out how we can help you, call us today at (720) 881-5333. Or visit our page: latitudeco.com/denver-co/