Crew Property Management Case Study - Arundel, Gold Coast

Crew Commercial were asked to assess an existing clients industrial complex in Arundel which was managed by an internationally owned real estate company to see whether our property management team could find value add opportunities.

Our Gold Coast based commercial property manager reviewed the current situation and found the following abnormalities:

1.  Majority of the tenancies did not have up to date insurance COC on file
2. Poor handling of makegood rectification and exit reports
3. Access granted to a tenant without insurance and bank guarantees in place
4. Multiple fire compliance issues unresolved
5. Client charged additional funds for roof leaks rather than body corporate sinking fund
6. Incorrect outgoings allocated based on actual floor areas
7. Funds in trust were different to amounts intended for release (ie. funds were "written off" if they did not balance)
8. Unnecessary expenses charged to client eg. external outgoings audits which are not legally required for this type of property

This resulted in the client appointing Crew Management to handle their property management portfolio with the following actions undertaken:

• All tenants now have up to date insurance documentation on file
• All routine reports now up to date with makegood requirements noted
• All bonds / guarantees now in place
• Fire compliance issues resolved
• Costs correctly alligned with sinking fund
• Outgoings correctly assigned based on lettable areas
• Maintanace items actioned including arranging insurance claims

Crew Commercial's property management team (Crew Management) specialises in industrial and commercial properties in Brisbane, Gold Coast and Northern New South Wales. We use the best in industry technology to ensure our client's property portfolios have all value add opportunities executed. In addition, Crew Management consults with our leading sales and leasing agents from Crew Commercial to ensure the most up to date market knowledge is utilised to maximise realisation for our client's assets.