Waikato Business News January/February 2017

8 WAIKATO BUSINESS NEWS January/February 2017
Why consider
commercial property
management?
REAL ESTATE MATTERS
> BY JAN COONEY
Commercial property manager at Bayleys Tauranga.
Phone: 027 408 9339 www.bayleys.co.nz
Having an asset professionally managed means a landlord is using
the expertise, knowledge, resources and networks of a company
that specialises in commercial and industrial leasing, sales and
management.
Landlords will have the
benefit of innovative
and proactive management
techniques to maximise
Bay of plenty
returns on their assets and
retain high tenant occupancy.
With more confidence
having returned to the commercial
and industrial property
sector, gone are the days
when the tenants remain in
occupation of the premises
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Geoff Taylor
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Hamilton
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newsletter
news
but have declined to formally
renew their lease knowing that
the landlord probably has no
other tenant and no leverage
to bargain.
This gives no comfort to
landlords who have invested
heavily in their asset. A landlord
can feel pressured to do
what he can to keep his tenant.
Professional property management
should have legal
advice built in around it to
provide clarification and the
correct procedures for the
implementation of the terms
and conditions of the Deed
of Lease should any issues or
queries arise.
Having access to legal
opinions every time there is a
request from a tenant can be
costly for landlords who try
to manage their own buildings
and tenants.
Too many times, operating
expenditures are not
on-charged to the tenant or are
set incorrectly. An operating
budget should be prepared by
the property manager based on
management’s best estimates.
Outgoings need to be recovered
to maintain the landlords’
asset and systems set up correctly
for the benefit of both
the landlord and the tenant.
Relationships between
landlords and tenants can get
strained. A third party buffer
which commercial property
management is, keeps all parties
very aware of their obligations
under the lease and helps
to prevent any breakdown in
communication and relationships
between the landlord and
the tenant.
Margaret Comer
announces retirement
After a remarkable
career of more than 30
years’ continuous service,
Margaret Comer, sponsorship
and community liaison
executive of Gallagher, has
announced her decision to retire
and to step down as board secretary
at the end of the year.
Margaret joined Gallagher
in 1985 and served as corporate
services executive, leading
Gallagher’s human resources,
training, health and safety,
facilities and payroll functions.
In April 2016, Margaret indicated
her intentions to retire
and began an orderly leadership
transition period while continuing
to hold the sponsorship
portfolio and acting as personal
assistant to Sir William
Gallagher.
Under Margaret’s leadership,
Gallagher has grown from
230 people to a workforce of
more than 1000 people globally.
In 2015, Margaret received a
New Zealand Order of Merit for
services to philanthropy.
“While her leadership, passion
and presence will definitely
be missed,” said Sir William
Gallagher, chairman and CEO,
“the foundation she has laid will
ensure our culture continues to
Margaret Comer.
live on for many years to come.
We’re grateful for Margaret’s
many contributions over more
than three decades of service,
she has been a key figure in the
success of this company and
is a respected role model and
leader.”
Deputy CEO and executive
director, Steve Tucker, added:
“On behalf of Gallagher, and
our teammates all over the
world, I would like to express
our sincerest thanks to Margaret
for exceptional service to the
company. Her commitment to
Gallagher, our people and our
communities is unequalled, and
Importantly, relationships
need to be formed with contractors
such as a handyman,
roofer, plumber and electrician.
Property management
will convey their expectations
of quality workmanship for a
fair price, for contractors to
take ownership of their skills
and understand that the tenant
and the landlord are not
‘cash cows’. It is all about
preventative measures rather
than reactive.
Often the management fee
is included in the ‘Outgoings’
Schedule of the Deed of Lease
and therefore a cost to the
tenant.
If you’re not having your
property managed, now may
be just the time to do so. A
sound management contract
will not give you any surprises.
I know she will be missed by
many.”
Margaret said: “I have been
honoured to be a part of this
company. It has been a tremendous
experience, much like a
family, and I will miss it dearly.
“I’m looking forward to
spending more time with those
closest to me but am still keen to
watch the success of Gallagher
continue. I wish to express my
very best wishes to those I’ve
had the privilege to work alongside
throughout my career.”
A celebration honouring
Margaret’s service was held on
December 23.
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