We as property managers work hard to facilitate a positive relationship with a landlord’s listing agent. We have learnt that when a property manager and listing realtor have good communication and a common understanding of their prospective responsibilities, everybody wins (particularly the client/landlord).
Having worked in both fields, we understand the needs of both sides and understand the frustration of inefficiencies when one party is not fully engaged.
Here are a few areas where a property manager can support the listing realtor:
- Setting up the offer. Aligning the “offer to lease” with the Landlord’s lease is a good place to start.
- Arranging, distributing and controlling keys codes, lockboxes and access.
- Documentation. Assembling leases, indemnity agreements, signage guidelines, construction work schedules. These should not be surprises for tenants.
- Providing plans and as-builts
- Providing current square Footages and measurements
- Additional Rent. Providing good and accurate additional rent figures and having supporting details if necessary.
- Providing good photos.
- Tours – Stepping in to assist the agent if necessary
- Paying commissions – working to facilitate good information to expedite payment
- Building information. Communicating thorough and tactful information on building amenities
- Vetting and qualifying tenants.
- Provide opinions on whether a tenant is a “good fit”, keeping in mind the plaza’s long term goals
- Competing and permitted uses. Are there issues with other tenants?
All Landlords are going to appreciate high-value cooperation amongst their property manager and realtor. Ultimately, finding a good tenant quickly that will pay the expected rent is always the goal, and addressing the above points proactively, builds the foundation to get there.