[BCM] [FP] [C12-1] [CBF] Property Management and Operations

Leasing and Tenant Management

• Vacancy Identification & Marketing

  • Use property management software to track vacancies.

  • Advertise vacancies via online platforms, social media, and real estate partnerships.

  • Conduct property viewings and virtual tours.

• Tenant Screening

  • Collect applications with employment/ income verification.

  • Perform credit checks, criminal background checks, and rental history reviews.

  • Approve/reject tenants based on predefined criteria.

• Lease Agreements

  • Draft legally compliant leases with terms (rent, duration, penalties).

  • Negotiate terms (e.g., rent discounts for long-term leases).

  • E-sign agreements and store them digitally.

• Move-In/Move-Out

  • Conduct pre-move-in inspections (document condition).

  • Provide tenant welcome packs (rules, emergency contacts).

  • Perform move-out inspections and deduct damages from deposits.

• Lease Renewals

  • Send renewal notices 60–90 days before expiry.

  • Negotiate terms based on market rates and tenant history.

Property Maintenance and Repairs

• Routine Maintenance

  • Schedule landscaping, HVAC checks, and cleaning via CMMS (Computerized Maintenance Management System).

  • Track tasks using tools like Fiix or UpKeep.

• Emergency Repairs

  • 24/7 hotline for tenants.

  • Dispatch approved vendors (e.g., plumbers, electricians) within 2 hours.

• Preventative Maintenance

  • Quarterly inspections of roofs, plumbing, and electrical systems.

  • Replace ageing equipment (e.g., boilers) proactively.

• Vendor Management

  • Maintain a vetted vendor database.

  • Use ServiceChannel for contractor performance tracking.

• Tenant Requests

  • Portal for tenants to submit requests (e.g., AppFolio).

  • Assign priority levels (e.g., urgent within 24 hrs, routine in 7 days).

Financial Management

• Rent Collection

  • Automate via online portals (Zoho, Yardi).

  • Issue late fees after a 5-day grace period.

  • Escalate to collections agencies for chronic non-payment.

• Budgeting & Forecasting

  • Annual budgets for each property (operating expenses, capital expenditures).

  • Adjust forecasts quarterly based on occupancy and market trends.

• Financial Reporting

  • Generate monthly P&L statements, balance sheets, and cash flow reports.

  • Track KPIs: occupancy rates, average rent, and maintenance costs.

• Expense Management

  • Approve vendor invoices via Basware or Coupa.

  • Conduct quarterly audits to prevent fraud.

Tenant Relations and Support

• Complaint Resolution

  • Log complaints in ZenDesk; resolve within 48hrs.

  • Escalate disputes to senior management if unresolved.

• Communication

  • Monthly newsletters via Mailchimp.

  • Mobile app for rent payments, service requests, and announcements.

• Community Engagement

  • Host quarterly events (e.g., holiday parties, maintenance workshops).

  • Annual tenant satisfaction surveys (SurveyMonkey).

Compliance and Risk Management

• Legal Compliance

  • Regular lease audits to align with local laws (e.g., fair housing).

  • Train staff on regulatory updates via ComplianceWave.

• Health & Safety

  • Fire drills biannually; inspect extinguishers monthly.

  • Asbestos/lead paint checks for older buildings.

• Insurance

  • Maintain property, liability, and rent default insurance.

  • File claims via Riskonnect.

• Data Security

  • Encrypt tenant data; GDPR/CCPA compliance.

Sustainability and Energy Management

• Energy Efficiency

  • Install smart meters and LED lighting.

  • Conduct bi-annual energy audits.

• Waste Management

  • Recycling programs; partner with local green initiatives.

  • Track waste reduction KPIs.

• Certifications

  • Pursue LEED/GREEN STAR certifications for eligible properties.

Technology and Innovation

• Property Management Software

  • Centralize operations with MRI Software or Yardi.

• IoT Integration

  • Deploy sensors for HVAC and leak detection (e.g., Aquicore).

• Analytics

  • Use Tableau for portfolio performance dashboards.

Portfolio Performance & Asset Management

• Performance Reviews

  • Monthly ROI analysis per property.

  • Benchmark against regional market data (CoStar).

• Asset Strategy

  • Redevelop underperforming assets; divest/sell as needed.

  • Plan capital improvements (e.g., lobby renovations).

Tools & KPIs

• Key Tools: Yardi, AppFolio, ServiceChannel, ZenDesk, Tableau.

• KPIs: Occupancy rate (>95%), tenant retention (>80%), maintenance response time (<24hrs), NOI growth (5% YoY).

The processes outlined in this chapter underscore Frazers Property’s holistic approach to managing its portfolio.

The company ensures that every property operates as a high-performing asset by standardizing leasing protocols, prioritizing preventive maintenance, leveraging financial analytics, and embedding sustainability into daily operations.

Tenant-centric strategies, such as streamlined communication and rapid response systems, reinforce loyalty and reduce turnover, while robust compliance frameworks mitigate risks and uphold regulatory standards.

Integrating advanced tools like IoT sensors, property management software, and predictive analytics empowers Frazers Property to anticipate challenges and capitalize on opportunities in a dynamic market.

These processes are not static; they evolve alongside industry trends, tenant expectations, and technological advancements.

By adhering to this structured yet adaptable model, Frazers Property safeguards its current portfolio and lays the groundwork for scalable growth, resilience, and long-term value creation.

Through continuous improvement and a relentless focus on excellence, the company remains poised to lead in the ever-evolving landscape of property management.