Caxtons commercial management department provides a comprehensive asset management service, with teams based across Kent, ensuring we can provide you with the best local and regional expertise and knowledge.
We are proactive with both tenants and occupiers, establishing good relationships and management practices across all types of commercial properties in Kent and the South East.
Our service includes:-
- Raising and submitting demands for and collection of rent, insurance premiums, service charges, ad-hoc costs and other payments due from tenants
- Dealing with arrears, including overseeing enforcement officers, forfeiture, pursuing guarantors, legal proceedings and other methods of arrears recovery
- Preparing regular client management accounts detailing all income and expenditure
- Dealing with routine management enquiries from tenants
- Coordinating routine repair and maintenance works
- Managing maintenance and service contracts including re-tendering programmes
- Overseeing major building, repair, or refurbishment works and appointing and coordinating third party specialists where required
- Ensuring tenants compliance with lease covenants, through periodic management inspections, including addressing breaches of covenant and coordinating further action where required
- Overseeing property health and safety and other statutory requirements
- Maintaining up to date property and tenancy records and managing key landlord and tenant dates
- Overseeing landlord and tenant transactions (i.e. lease renewals, rent reviews etc.) and coordinating third party specialists in this respect
- Administering service charges including producing annual budgets and year end certificates
- Liaising with client's solicitors on legal issues
- Running management companies including the keeping of company registers and issue of shares
- Administering building and other types of property related insurance, as well as overseeing claims and remedial works required
Our clients, as owners of single or multi-occupied commercial premises, can rest assured that our specialist team will look after their property to capitalise on their investment and ensure maximum returns. Our experienced staff deal with a range of commercial property in Kent, spanning the main sectors of retail, offices and industrial as well as restaurant and leisure properties, development sites and other niche premises such as GP surgeries, and children's nurseries, right through to garages, parking spaces and storage containers. Acquisitions can also be undertaken for anyone interested in buying commercial property in Kent and the South East and Caxtons is able to advise from search through to completion of the deal.
Our staff are trustworthy and approachable specialists for whom strong relationships and providing excellent service really matter. We are proud that Caxtons' brand is synonymous with good quality property expertise, best practice and a warm, personal approach, whilst we are not afraid to go that extra mile to ensure a job is done properly. This shows through our long-standing clients, repeat business and the recommendations and testimonials we receive.
A longstanding Caxtons' client acquired a new property investment in the Kent coastal town of Deal, which presented them with an attractive return from a mixed use commercial building, let to a mix of national and local tenants, situated in a prime positon in the town centre.
The former owner of the building had long neglected the repair and maintenance of the property, leaving it in need of a comprehensive restoration programme.
Many of the tenants were aggrieved by the condition of the building, as it had begun to impact on their premises internally, and also created a negative image for their businesses. Our client was also concerned about the longer-term damage being caused by the continued neglect, including the impact on the reversionary value of their asset.
Having been appointed to deal with the management of the property, with our client's agreement we immediately instructed a surveyor from our Building Department to prepare a schedule of the remedial works needed to bring the property into full repair.
We carefully reviewed each of the tenant's leases to ascertain our client's liability for repair of the common parts and the structure of the building, and also their ability to recover the cost of this. Whilst we noted that there was a provision for a service charge, which would allow us to recover the costs from tenants, we also noted that some of them had capped service charge contributions meaning they were only obliged to pay a limited amount each year.
We consulted with the tenants about the extent and cost of the works required, which were likely to exceed their normal service charge contributions and were going to need to be demanded from them as interim or balancing charges. The tenants expressed concern that this could impact their cash flow.
To overcome this difficulty we worked closely with our Building Department to devise a programme of works to the building, which would be undertaken in two phases: phase one included immediate, urgent works required, to prevent further deterioration of the building; and phase two dealt with non-urgent, but still essential work. The phases were scheduled to be undertaken across two separate service charge years so that all costs could be recovered, to prevent each phase individually exceeding the caps on the tenants' service charge contributions.
We had successfully devised and managed a significant programme of remedial works which prevented further deterioration to the property and impact on the tenants' businesses, addressing urgent works immediately, and those less pressing at the next available opportunity. This satisfied our client's requirement to preserve the capital value of their investment and ensure their tenants were appeased, whilst still being able to recover 100% of the cost of the works. It also meant the tenants were provided with significantly improved business conditions, with minimal impact on their cash flow.
The improved condition of the building brought the added benefit of making it less of an insurance risk and Caxtons' Insurance department were able to secure wide ranging insurance cover at the most competitively priced premium, bringing further cost savings to the tenants.