This course focuses on the practicalities of managing and administering commercial leases. Following on from Commercial Property Management Fundamentals, this course details specific issues such as lease evaluation, insurance requirements, rent reviews and more.
Follows on from the REIV Commercial Property Management Fundamentals course. (This course formerly known as Administration of Commercial Leases and Administration of the Commercial Lease)
Real estate professionals who wish to improve their knowledge of commercial leases. Prior completion of the 'Commercial Property Management Fundamentals' course is recommended
Upon completion of this course, participants should be able to:
- Evaluate commercial leases for lease administration and property management functions
- Manage financial functions for the administration of commercial property leases
- Understand the importance of maintaining files and records and adopt appropriate record keeping and systems
- Understand insurance requirements for landlords and tenants under lease terms
- Conduct commercial property inspections
- Undertake commercial rent reviews, identify options for further lease terms and renew leases
- Deal with first right of refusal to purchase and/or options
The funding for this course was provided from the Victorian Property Fund on the approval of the Minister for Consumer Affairs.