It really depends on what kind of Real-Estate they are managing.
Land; only needs the title, survey data, and enviromental report on hand. If you are managing it, you may also have on file, records of how many times you have inspected it for unauthorized use to avoid [adverse possession].
Residencial; i'm not sure what that is in the UK. However, you should always keep accounting records handy (Ledger, Journal, and either quarterly or annual financial statements), the title, reciepts of payment for any tenants, new rental applications and leases in the event that a tenant leaves..
Commercial; again, accounting records are very important, and perhaps most important in managing commercial property! Title, reciepts of payment, rental applications, and 2-3 variations of a commercial lease. Make sure that all of them specify the tenant's obligations, that he cannot withold rent for any reason, that any repairs needed inside his store are his responsibility, that he is responsible for any violations incurred as a result of his lack of precaution or failure to take appropriate action.. such details like that.
2007-03-14 04:30:51
·
answer #1
·
answered by Felix 3
·
0⤊
0⤋