What is a Property Management Checklist?
A property management checklist is a document used to ensure that a property, commercial or residential, is compliant with government regulations and other safety standards by, for example, adhering to proper gas safety mesaures. The requirements inside the checklist will vary depending on what country and state the establishment is in.
Aside from compliance, using a property management checklist brings a lot of benefits. One of the major benefits is that it improves tenant satisfaction. According to a study in the Journal of Asian Finance, tenant satisfaction is greatly affected by three major factors which are all directly affected by property management.
The first factor is facility management which refers to how a property management team handles the security, functionality, safety, and comfort of the property. So, it makes sense that when done right it increases tenant satisfaction.
The second factor is lease management which refers to how a property management team handles the day-to-day transactions with their tenants. It involves handling documents, reports, and payments. This also makes sense because tenants don’t want to deal with someone slow in handling transactions.
The last factor is the perceived quality of the commercial or residential property. This factor is very subjective because it refers to how a tenant views their rented property. It can be affected by various reasons such as the cost, service quality, cleanliness, and tenant policies.
All of these factors that affect tenant satisfaction are incorporated in a property management checklist. And that is why using this checklist increases the chance of a tenant renewing their lease contract.
In this short article, we’ll discuss:
1. The focus points of the management checklist for residential and commercial properties
2. And the benefits of using a mobile app for a property management checklist
Focus Points in the Residential Property Management Checklist
Although residential properties don’t have as many regulations as commercial properties, there are still a lot of regulations that aim to keep the contracts fair and the leased property safe.
In the property management checklist for residential properties, two main points are focused on. For this, we will be using the resources from New York City’s Housing Preservation and Development.
Landlord-Tenant Agreement
Landlords and tenants both have responsibilities to each other, which is why the landlord-tenant agreement should be fair to both parties. For that to happen, these clauses should be included:
- The landlord should provide the necessities to their tenants.
- The landlord must provide their property registration.
- All issues such as molds and pests must be immediately addressed by the landlord.
- The landlord should put appropriate signages according to government regulations.
- The landlord should not, in any case, lock out or harass any tenants. In cases where the tenant does not meet their responsibilities such as paying rent, then it must be done through due process.
- The landlord should respect the tenant data privacy act which means that they should not divulge any personal information of the tenant without consent or a legal warrant.
- Tenants should not damage, intentionally or through neglect, the residential property.
- Tenants will be responsible and liable for any actions of their guests.
- Tenants must grant access to landlords in cases where there is a need to inspect, maintain or repair any part of the property.
- Tenants must pay rent on time.
- Tenants must respect the rights of their co-tenants.
These are just some of the common clauses that should be included in a fair agreement between a landlord and tenant. But it is still subject to any government regulations that affect the property.
Housing Quality and Safety
The next point of concern is the housing quality and safety of the property. This makes sense because no tenant would want to occupy an unsafe property. So in the property management audit checklist, these are some of the main key points:
- The residential property must be in a good condition and according to the government regulations.
- The property should have a working and proper fire detection and protection system. It must also be inspected and certified by an authorized government official.
- If a tenant is unable to immediately provide smoke detectors and other needed safety devices, the landlord should immediately provide which should be then reimbursed later by the tenant.
- The landlord and tenant should be mindful of the materials they use. Some materials like lead-based paint are very harmful to humans.
- For properties that use a centralized gas system, gas leak detectors must be present.
- Electrical safety must be guaranteed by performing regular electrical safety checks.
- There must be emergency procedures in place in case a disaster like a fire or an earthquake occurs.
Aside from these points, a landlord should be aware of other government regulations to prevent unwanted penalties. For tenants, there might be specifications that need to be followed such as the door lock types and window guards.
Focus Points in the Commercial Property Management Checklist
The key responsibilities in a commercial property are quite similar to those of residential properties such as safety and leasing agreements. The only differences between them are the scope and the additional government requirements regarding safety. So, below are key points that are focused on commercial properties. For this, we will be using resources from the Australian Government and their Commercial Leasing Policies.
Building Safety
For commercial properties, building safety is a must. This is proven by the fact that a lot of government agencies and international institutions have created a lot of regulations and guides on how to properly keep commercial establishments safe. And below are some specific points for consideration that can be found in a property management inspection checklist for commercial properties.
Plant and Machinery
Commercial properties use a lot of machines such as air-conditioning units and electric equipment. And these machines, when improperly managed, can cause serious injuries to workers and even cause death. So here are some ways to reduce these accidents:
- Installing machine guards
- Designating walkways
- Staff training and wearing of proper protective equipment (PPE)
Slips, Trips, and Falls
Slips, trips, and falls are the most common accidents on commercial property. This is especially true for children who love to play and run around. These accidents are caused by slippery surfaces, liquid spills, and walkway hazards. So, here are some ways how to reduce these accidents:
- Choosing appropriate floor materials
- Applying floor treatments to increase slip resistance
- Improve lighting and put up signages
- Assigning a regular schedule of inspection and cleaning of possible liquid spills
Fire Prevention and Emergency Evacuation
Fire is one of the most common accidents on commercial property. Aside from electrical components that can cause fire, restaurants and other food shops that use fire for cooking are inside it.
So, it is included in the commercial property management transition checklist that there should be a sufficient fire protection system inside the property. Also, there should be an emergency evacuation protocol in place. This way, the people inside can evacuate outside the building in the shortest time possible.
Vehicle Movement and Traffic Management
In a commercial establishment, there are a lot of vehicle and pedestrian movements. When improperly managed, these movements can cause accidents. Common causes of accidents are when loading a vehicle, reversing, and the movements at pedestrian crosswalks. So here are some ways to reduce these accidents:
- Design a traffic route
- Consider if there is a way to separate pedestrians from vehicles
- High visibility clothing for workers that are loading and unloading
- Designate a loading and unloading zone
Commercial Building Permits
Operating a commercial property requires a lot of permits, unlike a residential one. But these permits are important because they certify that the property underwent careful inspection and is safe for operation. Aside from that, building permits are needed by the tenants that want to open their businesses on the property.
How Lumiform Can Keep Your Property Safe and Profitable
With Lumiform’s thousands of customizable templates, maintaining the integrity of your property just got a whole lot easier. Lumiform’s features are readily available on-the-go from your smartphone or tablet – online or offline. Using Lumiform to create effective and free checklists will help you and any team members stay organized, and you’ll be sure to check every box as a property manager, leaving your tenants happy and healthy.
- All of Lumiform’s flexible and comprehensive features are free to all users! As a property manager, you may need to conduct annual inspections of your space to confirm it is up to code. By using our Inspection App, you can cut down the time and effort it would normally take you to conduct these inspections, saving you money and increasing your business’ efficiency.
- Lumiform offers thousands of free and ready-made templates to choose from so that you can easily and securely go digital with all documents surrounding your property.
- With the convenient mobile app, you and your team can stay organized and have access to all of your Lumiform data right at your fingertips!
- All results are automatically summarized in a report which can then be sent to members of your team instantly.
- Comprehensive and automated analyses help you stay vigilant to any possible threats to your property, keep you and your tenants safer and happier.
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